CharityWatch Rating: LeSEA Global Feed the Hungry
Mar 07, 2024
March 20th, 2024 Article Update: On March 14th, 2024, subsequent to the publication of this article, LeSEA Global Feed the Hungry (FTH) contacted CharityWatch to provide us with a copy of its audited financial statements for its fiscal year ended 2022. CharityWatch analyzed these statements, along with the charity's IRS tax Form 990 of the same fiscal year, and issued a letter grade rating. The results of our analysis may be viewed on the charity's profile page.
CharityWatch is unable to provide a letter grade rating for LeSEA Global Feed the Hungry (FTH) at this time and has issued it a "?" rating for its fiscal year ended December 31, 2022. As of March 4, 2024, fiscal 2022 is the most current IRS Form 990 tax filing CharityWatch has been able to locate based on our searches of public databases.
In its 2022 IRS Form 990, Feed The Hungry reports that its financial statements were audited by an independent accountant (IRS Form 990, Part XII). CharityWatch was not able to locate or obtain a publicly available copy of FTH's 2022 audited financial statements.
CharityWatch contacted Feed The Hungry in a correspondence dated December 7, 2023, to request a copy of FTH's audited financial statements for its most recent fiscal year. As of March 4, 2024, FTH has not responded to CharityWatch's request.
Given that CharityWatch has been unable to obtain a copy of Feed The Hungry's 2022 audited financial statements, either from FTH directly or from public sources, we have issued FTH a "?" rating for fiscal 2022. This rating signifies that FTH has not disclosed sufficient financial information with which CharityWatch could compute a meaningful letter grade rating.
CharityWatch conducted a cursory review of Feed The Hungry's 2022 IRS Tax Form 990. FTH reports that the vast majority of its 2022 revenue consisted of in-kind (non-cash) goods. Of its reported fiscal 2022 total contributions of $71,411,153, FTH reports that $61,854,998 consisted of "Noncash contributions." Of this $61,854,998, $56,210,368 consisted of "Food inventory." (IRS Form 990 Revenue Statement & Schedule M) FTH reports spending $2,415,015 of cash expenses on fundraising in fiscal 2022.
Once in-kind goods are excluded from reported contributions, this means that the charity may have spent approximately $23 to raise each $100 of cash support that year. (NOTE: CharityWatch is unable to issue an official rating of FTH until we have access to its fiscal 2022 audited financial statements)
FTH reports spending $68,460,299 of its total reported expenses of $71,018,691 on its programs in 2022. However, a significant portion of this amount consisted of the in-kind goods it received and distributed that year. (Because the charity reports a relatively small amount of inventory on its 2022 Balance Sheet, it can be reasonably judged that FTH distributed all or most of the in-kind goods it received in 2022 that same year).
Once in-kind goods are excluded from reported program and total expenses, this means that the charity may have spent approximately 72% of its total cash expenses on programs that year. (NOTE: CharityWatch is unable to issue an official rating of FTH until we have access to its fiscal 2022 audited financial statements)
Feed The Hungry reports that "Andrew J. Sumrall and Angela N. Grabowski have a family relationship." (IRS Form 990, Schedule O) Sumrall (Director) and Grabowski (Director and Secretary / Treasurer) are reported as being two of the charity's six board members. (IRS Form 990, Part VII)
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