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Top Rated

Food Bank For New York City

CharityWatch rating issued
January 2024

Top-Rated Charity
A-
CharityWatch Rating
Our independent rating based
on a number of factors.
 
85%
Program Percentage
Amount spent on programs
relative to overhead.
 
$23
Cost to Raise $100
Amount spent to raise
$100 of contributions.
Ratings & Metrics

Contact Information

Food Bank For New York City
39 Broadway
10th Floor
New York, NY 10006

Other Names

Food for Survival

Tax Status

501(c)3

Website

www.foodbanknyc.org

Stated Mission

To end hunger by organizing food, information, and support for community survival and dignity.

View similar charities

Ratings & Metrics

Learn more about Ratings & Metrics
Data based on Fiscal Year Ended 06/30/2022

Program Percentage: 85%

The percentage of Food Bank For New York City's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$105,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $23

How many dollars Food Bank For New York City spends on fundraising to raise each $100 of contributions.

$38,000,000

Calculated Total Contributions

(rounded)

Government Funding

50% to 100%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Food Bank for New York City Consolidated Audited Financial Statements Multiple
Food Bank for New York City IRS Form 990 13-3179546
Entity: Food Bank for New York City
Document Type: Consolidated Audited Financial Statements
Tax ID: Multiple
Entity: Food Bank for New York City
Document Type: IRS Form 990
Tax ID: 13-3179546

Governance & Transparency

Learn more about 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.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Food Bank For New York City
meets governance benchmarks.
 
Food Bank For New York City
meets 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 Opt-Out Policy  

Top Salaries

Learn more about Top Salaries
  Name Title Compensation
1 Leslie Gordon President / CEO $465,710
2 Matthew Honeycutt Chief Development Officer $314,733
3 Anna McGovern Chief Supply Chain Officer $309,452
1
Name: Leslie Gordon
Title: President / CEO
Compensation: $465,710
2
Name: Matthew Honeycutt
Title: Chief Development Officer
Compensation: $314,733
3
Name: Anna McGovern
Title: Chief Supply Chain Officer
Compensation: $309,452

Analysts' Notes

Learn more about Analysts' Notes
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.

According to the Food Bank For New York City fiscal 2022 tax filing (IRS Form 990, Schedule M) and audited Consolidated Statement of Activities for the year ended June 30, 2022, Food Bank For NYC received donated food on which it placed a value of $84,659,777.

In addition, according to the Food Bank For New York City consolidated audit of June 30, 2022 (Note 2L, Donated Goods and Services), Food Bank For NYC received in-kind contributed services, "legal services," in fiscal 2022 on which it placed a value of $638,554.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Food Bank For New York City tax filing for the fiscal year ended June 30, 2022, Food Bank For NYC reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 7):

"The board approved the bonus for the President & CEO. The CEO approves bonuses for all other employees."


Food Bank For NYC reports $102,000 as "Bonus & incentive compensation" in calendar year 2021 for Leslie Gordon, "President & CEO;" her reported total compensation for 2021 is $465,710. Six other staff members are also reported to have received bonuses in calendar year 2021 ranging from $5,100 to $43,717, with associated compensation of $204,550 to $314,733. (IRS Form 990, Schedule J, Part II).

According to the Food Bank For New York City consolidated audit of June 30, 2022 (Note 11, Paycheck Protection Program Loan Payable):

"On March 27, 2020, in response to COVID-19, the federal government passed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). Among many other provisions, to help businesses retain employees, the CARES Act provides relief to qualifying businesses through a program called the Paycheck Protection Program ("PPP"). Participating in the PPP enables the business to obtain a loan from the Small Business Administration ("SBA"). If the proceeds from the loan are used for specific purposes, some or all of the loan can be forgiven.

Food Bank for NYC applied for this loan through an SBA-authorized lender and received $867,500 in April 2020. Management has opted to account for the PPP loan under FASB ASC Topic 470, "Debt", and expects to recognize the gain resulting from the forgiveness upon legal release of its obligation from the SBA. If the loan is not forgiven, Food Bank for NYC must repay the loan on or before the due date in April 2022 with interest at 1% per annum. In July 2021, Food Bank for NYC received forgiveness from the lender and the SBA for the full amount of the outstanding PPP loan payable and accordingly recorded income of $867,500 in the accompanying consolidated statements of activities."