FOOD BANK FOR NEW YORK CITY
Mission Statement
Food Bank For New York City recognizes 27 years as the city's major hunger-relief organization working to end food poverty throughout the five boroughs. As one of the country's largest food banks, our mission is to end hunger in New York City by organizing food, information and support for community survival and dignity. As the city's hub for integrated food poverty assistance, the Food Bank tackles the hunger issue on three fronts - emergency food distribution, financial empowerment and nutrition education - all strategically guided by its research. There are 3.3 million New Yorkers who experience difficulty affording food - an astounding number and one that continues to increase as the donated food supply drops to an all-time low and food costs skyrocket. To address this issue, the Food Bank procures and distributes food to a network of approximately 1,000 food assistance programs citywide, helping to provide 300,000 free meals a day for New Yorkers in need. In addition, CookShop, our hands-on nutrition education program in the city's public schools reaches thousands of children, teens and adults. Income support services including food stamp direct service, training and advocacy; as well as free tax assistance for the working poor and the Earned Income Tax Credit put millions of dollars back in the pockets of low-income New Yorkers, helping them to achieve greater dignity and independence. Working toward long-term solutions to food poverty, the Food Bank develops policy and conducts research to inform community and government efforts.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
87.2% | 91.0% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
7.3% | 6.9% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
5.5% | 0.2% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
16603.6% | 5316.5% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
3.1 mo | 5.0 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
49.7% | 56.6% |
P10P90
|
Above median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
98.2% | 96.8% |
P10P90
|
Below median |
|
Revenue growth
Year over year revenue growth
|
-12.2% | 15.5% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
-10.3% | 10.7% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-2.7% | 0.6% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $164.3M | $168.7M | $43.5M | 87.2% | 324 |
| 2022 | $187.1M | $188.0M | $47.8M | 92.1% | 265 |
| 2021 | $224.7M | $210.3M | N/A | — | 170 |
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