Laredo Regional Food Bank Inc
- Assets
- $167.8k
- Revenue
- $136.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Laredo, TX
- Founding
- 06/1983
- Data as of
- 12/2021
- EIN
- 74-2263742
Organization Overview
Laredo Regional Food Bank Inc is located in Laredo, TX. The organization was established in 1983. According to its NTEE Classification (Y30) the organization is classified as: Pension & Retirement Funds, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laredo Regional Food Bank 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 12/2021, Laredo Regional Food Bank Inc generated $136.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $150.2k during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOOD BANK RECEIVES DONATED FOOD AND PURCHASES FOOD AS SUPPLEMENT IT DISTRIBUTES FOOD TO OTHER CHARITIES AND LOW INCOCME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOOD BANK GETS DONATIONS AND PURCHASES FOOD AS SUPPLEMENTS. IT DISTRIBUTES FOOD TO OTHER CHARITIES FOR DISTRIBUTION TO THE POOR AND THE NEEDY IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rafael I Torres Treasurer | OfficerTrustee | $0 | |
Eva Delgado Secretary | OfficerTrustee | $0 | |
Rafael Perez President | OfficerTrustee | $0 | |
Robert Tellez Vicepresident | OfficerTrustee | $0 | |
Adolfo Gonzalez Board Member | Trustee | $0 | |
Juan Vargas Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $93,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $123,150 |
| Total Program Service Revenue | $12,924 |
| Investment income | $16 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $136,090 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,835 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,062 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,790 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $276 |
| Office expenses | $1,595 |
| Information technology | $707 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,979 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,869 |
| All other expenses | $8,498 |
| Total functional expenses | $150,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,393 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $35,033 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $167,833 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $167,833 |
| Net assets with donor restrictions | $0 |
| 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 | $167,833 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Laredo Regional Food Bank Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
D D Hachar Charitable Trust Fund Houston, TX PURPOSE: PROVIDE FOOD TO NEEDY RESIDENTS | $15,000 |
Medline Foundation Northfield, IL PURPOSE: GENERAL ASSISTANCE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Altria Client Services Long-Term Disability Trust Plano, TX | $71,923,559 | $8,055,781 |
Baptist Community Affordable Housing Foundation Amarillo, TX | $11,620,988 | $7,495,776 |
1717 Ridge Apartments Inc Dallas, TX | $59,741,170 | $2,340,816 |
Laredo Regional Food Bank Inc Laredo, TX | $167,833 | $136,090 |
Pauline Revere Thayer Memorial Pension Fund Dallas, TX | $652,717 | $126,825 |
C O M Utility And Maintenance Trust Midland, TX | $421,908 | $0 |
Department Of Texas Korean War Veterans Association Inc Copperas Cove, TX | $26,777 | $11,974 |
City Of Cammack Village Employees Retirement Assistance Trust Little Rock, AR | $171,506 | $0 |