Food Bank Of Delaware Inc
- Assets
- $49.0m
- Revenue
- $41.5m
- Investments
- $0.0
- Employees
- 111
- Location
- Newark, DE
- Founding
- 06/1972
- Data as of
- 06/2023
- EIN
- 51-0258984
Organization Overview
Food Bank Of Delaware Inc is located in Newark, DE. The organization was established in 1972. According to its NTEE Classification (K31) the organization is classified as: Food Banks & Pantries, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2023, Food Bank Of Delaware Inc employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Food Bank Of Delaware Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Food Bank Of Delaware Inc generated $41.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $36.1m during the year ending 06/2023. While expenses have increased by 7.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE TAX EXEMPT PURPOSE OF THE ORGANIZATION IS TO HELP CREATE A COMMUNITY FREE FROM HUNGER BY PROVIDING FOOD TO THOSE IN NEED AND INFORMATION TO OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD DISTRIBUTION - THE FOOD DISTRIBUTION PROGRAM MAINTAINS FOOD AND RELATED PRODUCT OBTAINED THROUGH DONATIONS, WHICH ARE THEN MADE AVAILABLE TO QUALIFIED MEMBER AGENCIES FOR A SHARED MAINTENCE FEE.
COMMUNITY DEVELOPMENT - THE COMMUNITY DEVELOPMENT PROGRAM ASSISTS NEW AND CURRENT MEMBERS AGENCIES IN MAXIMIZING THE BENEFITS THE FOOD BANK OFFERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Thompson Board Chair | OfficerTrustee | 2 | $0 |
Andrew Larmore Past Chair | OfficerTrustee | 2 | $0 |
Andrew Levin Treasurer | OfficerTrustee | 2 | $0 |
Catherine Sandler Secretary | OfficerTrustee | 2 | $0 |
Nicole Dimondi Workforce Ch | OfficerTrustee | 2 | $0 |
Jeffrey Whitmarsh Development | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
M Fellinger Co Food Sales | 6/29/23 | $1,327,448 |
Whiting-turner Contracting Company Construction | 6/29/23 | $14,025,984 |
Pratt Insurance Company Inc Insurance | 6/29/23 | $1,571,473 |
Simco Sales Food Sales | 6/29/23 | $1,159,208 |
Mclane Hunger Solutions Inc Food Sales | 6/29/23 | $925,044 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,400,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,527,387 |
| Noncash contributions included in lines 1a–1f | $16,201,539 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,927,722 |
| Total Program Service Revenue | $661,790 |
| Investment income | $258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$179,689 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,463,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $615,061 |
| Compensation of current officers, directors, key employees. | $12,301 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,994,555 |
| Pension plan accruals and contributions | $10,549 |
| Other employee benefits | $752,334 |
| Payroll taxes | $436,006 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,627 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $566,253 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $176,666 |
| Travel | $24,120 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,004,247 |
| Insurance | $207,861 |
| All other expenses | $509,775 |
| Total functional expenses | $36,141,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,072,635 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,337,805 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,596,893 |
| Prepaid expenses and deferred charges | $7,727 |
| Net Land, buildings, and equipment | $32,500,827 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $507,850 |
| Total assets | $49,023,737 |
| Accounts payable and accrued expenses | $2,452,894 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,452,894 |
| Net assets without donor restrictions | $46,427,590 |
| Net assets with donor restrictions | $143,253 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,023,737 |