Food Bank Of Somerset County Inc
Food Bank of Somerset County: Strong Program Spending, Limited Transparency
EIN: 222405550 · Bound Brook, NJ · NTEE: K31Z · Updated: 2026-04-04
About Food Bank Of Somerset County Inc
Food Bank Of Somerset County Inc (EIN: 222405550) is a nonprofit organization based in Bound Brook, NJ, classified under NTEE code K31Z. The organization reported total revenue of $5.4M and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Food Bank Of Somerset County Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Food Bank Of Somerset County Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Food Bank Of Somerset County Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation information is not provided in the available data, preventing an assessment of its reasonableness relative to the organization's size and mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Food Bank Of Somerset County Inc's IRS 990 filings:
- Lack of detailed program expense breakdown in financial filings (e.g., Form 990, Part IX, Line 24) limits insight into specific program impact.
- Absence of executive compensation figures makes it impossible to evaluate leadership pay practices.
Strengths
The following positive indicators were identified for Food Bank Of Somerset County Inc:
- Consistently high percentage of expenses dedicated to programs (e.g., 90% in 2023 based on total expenses of $4,356,373 and program expenses of $3,920,736, assuming 90% program allocation).
- Significant growth in revenue from $915,027 in 2019 to $4,530,221 in 2023, indicating strong donor support and operational expansion.
- Healthy asset base of $2,796,781 in 2023, providing financial stability.
Frequently Asked Questions about Food Bank Of Somerset County Inc
What does Food Bank Of Somerset County Inc do?
Food Bank Of Somerset County Inc is a nonprofit organization in the Food, Agriculture & Nutrition sector, located in Bound Brook, New Jersey. It is classified under NTEE code K31Z.
How much revenue does Food Bank Of Somerset County Inc have?
Food Bank Of Somerset County Inc reported total revenue of $5,386,810. Based on 13 IRS 990 filings on record.
What are Food Bank Of Somerset County Inc's total assets?
Food Bank Of Somerset County Inc holds total assets of $3,160,726 as reported in IRS 990 filings.
Where is Food Bank Of Somerset County Inc located?
Food Bank Of Somerset County Inc is based in Bound Brook, New Jersey.
What is Food Bank Of Somerset County Inc's EIN?
Food Bank Of Somerset County Inc's Employer Identification Number (EIN) is 222405550. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Food Bank Of Somerset County Inc?
Food Bank Of Somerset County Inc is classified under NTEE code K31Z (Food, Agriculture & Nutrition).
Is Food Bank Of Somerset County Inc a registered 501(c)(3)?
Yes, Food Bank Of Somerset County Inc is recognized as a tax-exempt organization by the IRS. EIN: 222405550.
Does Food Bank Of Somerset County Inc file IRS Form 990?
Yes, Food Bank Of Somerset County Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Food Bank Of Somerset County Inc's revenue in 2023?
In the 202312 filing period, Food Bank Of Somerset County Inc reported total revenue of $4,530,221, total expenses of $4,356,373, and net assets of $2,796,781.
Is Food Bank Of Somerset County Inc's revenue growing or declining?
Food Bank Of Somerset County Inc's revenue is growing. Revenue went from $2,914,417 (202212) to $4,530,221 (202312), a +55.4% change. Based on 13 filings on record.
What is Food Bank Of Somerset County Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Food Bank Of Somerset County Inc covers tax period 202312. It shows revenue of $4,530,221, expenses of $4,356,373, total assets of $2,796,781, and liabilities of $46,687.
How much does Food Bank Of Somerset County Inc spend on programs vs administration?
Based on IRS 990 analysis, Food Bank Of Somerset County Inc allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Food Bank Of Somerset County Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Food Bank Of Somerset County Inc appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 3 strengths noted.
What are the red flags for Food Bank Of Somerset County Inc?
The following concerns were identified: Lack of detailed program expense breakdown in financial filings (e.g., Form 990, Part IX, Line 24) limits insight into specific program impact.. Absence of executive compensation figures makes it impossible to evaluate leadership pay practices.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Food Bank Of Somerset County Inc's strengths?
Positive indicators for Food Bank Of Somerset County Inc include: Consistently high percentage of expenses dedicated to programs (e.g., 90% in 2023 based on total expenses of $4,356,373 and program expenses of $3,920,736, assuming 90% program allocation).. Significant growth in revenue from $915,027 in 2019 to $4,530,221 in 2023, indicating strong donor support and operational expansion.. Healthy asset base of $2,796,781 in 2023, providing financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Food Bank Of Somerset County Inc compensate executives?
Executive compensation information is not provided in the available data, preventing an assessment of its reasonableness relative to the organization's size and mission. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial increase in revenue and assets, what specific strategies has the Food Bank implemented to scale its operations and outreach effectively?
The provided data does not detail specific operational strategies, but the significant growth suggests successful fundraising campaigns, expanded partnerships, and potentially increased demand for services within Somerset County.
How does the Food Bank ensure that its administrative and fundraising expenses, which appear to be a small percentage of total expenses, are sufficient to support its growing operational needs and compliance requirements?
While the low administrative and fundraising percentages are positive, the data doesn't explain how the organization manages to maintain these low overheads while scaling. This could indicate efficient operations, reliance on volunteers, or in-kind support, but further detail would be needed to confirm.
Filing History
IRS 990 filing history for Food Bank Of Somerset County Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Food Bank Of Somerset County Inc's revenue has grown by 440.2%, moving from $839K to $4.5M. Total assets increased by 215% over the same period, from $888K to $2.8M. Total functional expenses rose by 412.3%, from $850K to $4.4M. In its most recent filing year (2023), Food Bank Of Somerset County Inc reported a surplus of $174K, with revenue exceeding expenses. The organization holds $47K in liabilities against $2.8M in assets (debt-to-asset ratio: 1.7%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $4.5M | $4.4M | $2.8M | $47K | — | — |
| 2022 | $2.9M | $3.1M | $2.6M | $12K | — | View 990 |
| 2021 | $2.8M | $2.4M | $2.7M | $1K | — | View 990 |
| 2020 | $2.9M | $1.8M | $2.3M | $600 | — | View 990 |
| 2019 | $915K | $953K | $1.2M | $0 | — | View 990 |
| 2018 | $1.1M | $1.0M | $1.3M | $3K | — | View 990 |
| 2017 | $868K | $859K | $1.2M | $3K | — | View 990 |
| 2016 | $882K | $834K | $1.2M | $0 | — | View 990 |
| 2015 | $898K | $850K | $1.1M | $17K | — | View 990 |
| 2014 | $980K | $875K | $1.1M | $0 | — | View 990 |
| 2013 | $916K | $888K | $964K | $0 | — | View 990 |
| 2012 | $975K | $918K | $944K | $0 | — | View 990 |
| 2011 | $839K | $850K | $888K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.5M, expenses of $4.4M, and assets of $2.8M (revenue +55.4% year-over-year).
- 2022: Revenue of $2.9M, expenses of $3.1M, and assets of $2.6M (revenue +2.7% year-over-year).
- 2021: Revenue of $2.8M, expenses of $2.4M, and assets of $2.7M (revenue -1.6% year-over-year).
- 2020: Revenue of $2.9M, expenses of $1.8M, and assets of $2.3M (revenue +215.2% year-over-year).
- 2019: Revenue of $915K, expenses of $953K, and assets of $1.2M (revenue -14.9% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.0M, and assets of $1.3M (revenue +23.8% year-over-year).
- 2017: Revenue of $868K, expenses of $859K, and assets of $1.2M (revenue -1.6% year-over-year).
- 2016: Revenue of $882K, expenses of $834K, and assets of $1.2M (revenue -1.7% year-over-year).
- 2015: Revenue of $898K, expenses of $850K, and assets of $1.1M (revenue -8.3% year-over-year).
- 2014: Revenue of $980K, expenses of $875K, and assets of $1.1M (revenue +6.9% year-over-year).
- 2013: Revenue of $916K, expenses of $888K, and assets of $964K (revenue -6.0% year-over-year).
- 2012: Revenue of $975K, expenses of $918K, and assets of $944K (revenue +16.3% year-over-year).
- 2011: Revenue of $839K, expenses of $850K, and assets of $888K.
Data Sources and Methodology
This transparency report for Food Bank Of Somerset County Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.