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Bread for the World

CharityWatch report issued
March 2024

A-
CharityWatch Grade
Our independent grade based
on a number of factors.
 
75%
Program Percentage
Amount spent on programs
relative to overhead.
 
$18
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Bread for the World
425 3rd Street SW
Suite 1200
Washington, DC 20024

Other Names

None

Tax Status

501(c)4

Website

www.bread.org

Stated Mission

To advocate for changes in policies, programs, and conditions that allow hunger and poverty to persist, both in the United States and around the world.

View similar charities
Data based on Fiscal Year Ended 12/31/2022

Program Percentage: 75%

The percentage of Bread for the World's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$5,200,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $18

How many dollars Bread for the World spends on fundraising to raise each $100 of contributions.

$5,500,000

Calculated Total Contributions

(rounded)

Joint Costs

Bread for the World's rating was adjusted for Joint Costs. If you are a donor who considers direct mail, telemarketing, and other Joint Cost solicitations to be true charitable programs, the below efficiency ratios, which were not adjusted for joint costs, may better reflect your goals.

Program % Cost to Raise $100
78% $16
Accounting rules allow charities to report some telemarketing, direct mail, and other solicitation costs as Program expenses. CharityWatch believes that most donors do not consider a charity's solicitation activities to be the Programs they are intending to support with their donations. We therefore adjust such expenses out of a charity's reported Program expense and add it to Fundraising expense prior to calculating its rating.

Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Bread for the World & Affiliate Audited Consolidated Financial Statements Multiple
Bread for the World IRS Form 990 13-2803276
Entity: Bread for the World & Affiliate
Document Type: Audited Consolidated Financial Statements
Tax ID: Multiple
Entity: Bread for the World
Document Type: IRS Form 990
Tax ID: 13-2803276

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
Bread for the World
meets governance benchmarks.
 
Bread for the World
does not meet transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Eugene Cho President $361,476
2 Delma Plummer VP of Finance/Administration $237,736
3 Larisa Friesen VP of Development $221,562
1
Name: Eugene Cho
Title: President
Compensation: $361,476
2
Name: Delma Plummer
Title: VP of Finance/Administration
Compensation: $237,736
3
Name: Larisa Friesen
Title: VP of Development
Compensation: $221,562

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

CharityWatch's rating of Bread for the World is for the 501(c)(4) tax-exempt, social welfare organization (tax ID #13-2803276).

CharityWatch issues a separate rating for Bread for the World Institute, a related 501(c)(3) public charity (tax ID #51-0175510).


According to the Bread for the World consolidated audit of December 31, 2022 (Note 2 re: Principles of Consolidation):

"The accompanying [audited] consolidated financial statements include the account balances of Bread and the Institute (collectively, "the Organization"). Bread and the Institute have separate and distinct governance structures that share the same volunteers who serve as members on both Boards of Directors. Bread and the Institute also share common facilities and personnel and have been consolidated due to the presence of common control and economic interest, as required under accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated in [the audit] consolidation."


CharityWatch separates the ratings for 501(c)(3) & 501(c)(4) organizations, even if their financial activities are included together in a consolidated audit, due to their differing tax treatment under the IRS tax code. For more information on this topic, please see our sections on Types of Non-Profits and Tax Status, which can be found on the Our Process page.

For more information about things to consider when donating to organizations that have related public charity and social welfare entities, read "Sorting Out Nonprofit Pairs." 

According to the Bread for the World consolidated audit of December 31, 2022 (Note 13, Related Party Transactions):

"The Organization shares its premises and some administrative and program personnel with the Alliance to End Hunger ("the Alliance"), an organization that is exempt from income tax under Section 501(c)(3) of the Internal Revenue Code (IRC). Costs are allocated between the entities based on actual expenses incurred and an overhead allocation, as described in the shared services agreement between the organizations. As of December 31, 2022, the Organization has a receivable from the Alliance in the amount of $549,860 under this agreement. These amounts are included in the accompanying consolidated statement of financial position."

According to the Bread for the World consolidated audit of December 31, 2022 (Note 8, Paycheck Protection Program):

"The Organization applied for loans under the Paycheck Protection Program ("the PPP loan") pursuant to Division A, Title 1 of the CARES Act, which was enacted on March 27, 2020. The PPP loan is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll through the COVID-19 coronavirus, for which the Organization qualified. The PPP loan is subject to full forgiveness upon use of the funds for payroll and other eligible costs and compliance with certain limitations on payroll and staffing reductions over a 24-week period."

"The first draw of the PPP loan was granted to the Institute on April 21, 2020 in the amount of $872,300. During the covered period, the Organization used all funds on qualifying expenditures and remained in compliance with limitations on payroll costs while not reducing the employee headcount. On February 16, 2021, the first draw of the PPP loan was fully forgiven by the Small Business Administration, and the Organization recorded a $872,300 gain on extinguishment of forgivable debt, which is included as other income for the year ended December 31, 2021."

"The second draw of the PPP loan was granted to the Organization on April 5, 2021 in the amount of $872,338, yields a 1% interest rate, and requires monthly payment of $14,917 starting November 2022, with a final payment of all unpaid principal and interest due in April 2026." 


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