COMMUNITY FOOD BANK OF CITRUS COUNTY INC
Mission Statement
Our Mission is to be the driving force to Promote Awareness, Inspire Involvement and End Hunger in our Communities. Our Just Cause - A Hunger-Free Community! Community Food Bank is a lifeline for individuals and families throughout Citrus, Hernando and Sumter counties who are facing food insecurity. Our sole purpose is to ensure that no one goes hungry. Hunger is hurting our entire community as thousands of children, young men, women and seniors who have never sought food assistance in the past find they are unable to feed themselves or their families. We raise funds, collect food and provide tangible resources to 78+ food pantries, soup kitchens, senior centers, ministries and other resource agencies to help them serve 120,000 individuals monthly in 3 counties. With inflation and economic challenges continually straining family budgets, the demand on our partner agencies is higher than ever. To meet this need our goal for this event is to raise $300,000 which will allow us to procure and distribute 420,000 pounds monthly of fresh produce, protein and shelf stable goods directly to families, children and seniors in crisis through our partner organizations.
Financial Overview — FY 2022
Compared with Peers
FY 2022| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
85.8% | 85.6% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
14.0% | 11.4% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.2% | 0.4% |
P10P90
|
Above median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
11.2 mo | 8.6 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
22.1% | 13.7% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
70.9% | 93.1% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
18.2% | 7.7% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
22.5% | 14.0% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
7.1% | 4.0% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2022 | $1.6M | $1.4M | $1.4M | 85.8% | 11 |
| 2021 | $1.3M | $1.2M | $1.3M | 84.1% | 21 |
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