Franklin Township Food Bank
Franklin Township Food Bank: Strong Financial Health and Program Focus
EIN: 222406472 · Somerset, NJ · Updated: 2026-04-04
About Franklin Township Food Bank
Franklin Township Food Bank (EIN: 222406472) is a nonprofit organization based in Somerset, NJ. The organization reported total revenue of $10.4M and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franklin Township Food Bank'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 Franklin Township Food Bank 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Franklin Township Food Bank allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is not reported in the provided data, indicating it is likely below the IRS reporting threshold for key employees, which is a positive sign for a smaller nonprofit.
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.
Strengths
The following positive indicators were identified for Franklin Township Food Bank:
- Consistent revenue growth over the past several years, from $1,042,275 in 2017 to $8,279,297 in 2023.
- Healthy asset growth, increasing from $775,625 in 2017 to $2,529,333 in 2023.
- Low fundraising costs, indicating efficient resource allocation.
- Strong program spending, with a high percentage of expenses dedicated to direct services.
Frequently Asked Questions about Franklin Township Food Bank
What does Franklin Township Food Bank do?
Franklin Township Food Bank is a nonprofit organization in the Unknown sector, located in Somerset, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Franklin Township Food Bank have?
Franklin Township Food Bank reported total revenue of $10,431,087. Based on 14 IRS 990 filings on record.
What are Franklin Township Food Bank's total assets?
Franklin Township Food Bank holds total assets of $3,172,081 as reported in IRS 990 filings.
Where is Franklin Township Food Bank located?
Franklin Township Food Bank is based in Somerset, New Jersey.
What is Franklin Township Food Bank's EIN?
Franklin Township Food Bank's Employer Identification Number (EIN) is 222406472. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Franklin Township Food Bank?
Franklin Township Food Bank is classified under NTEE code Unknown (Unknown).
Is Franklin Township Food Bank a registered 501(c)(3)?
Franklin Township Food Bank appears in IRS records (EIN: 222406472). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Franklin Township Food Bank file IRS Form 990?
Yes, Franklin Township Food Bank has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Franklin Township Food Bank's revenue in 2023?
In the 202312 filing period, Franklin Township Food Bank reported total revenue of $8,279,297, total expenses of $8,201,555, and net assets of $2,529,333.
Is Franklin Township Food Bank's revenue growing or declining?
Franklin Township Food Bank's revenue is growing. Revenue went from $7,572,179 (202212) to $8,279,297 (202312), a +9.3% change. Based on 14 filings on record.
What is Franklin Township Food Bank's most recent 990 filing?
The most recent IRS Form 990 filing for Franklin Township Food Bank covers tax period 202312. It shows revenue of $8,279,297, expenses of $8,201,555, total assets of $2,529,333, and liabilities of $363,491.
How much does Franklin Township Food Bank spend on programs vs administration?
Based on IRS 990 analysis, Franklin Township Food Bank allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Franklin Township Food Bank a trustworthy charity?
Based on AI analysis of IRS 990 data, Franklin Township Food Bank appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are Franklin Township Food Bank's strengths?
Positive indicators for Franklin Township Food Bank include: Consistent revenue growth over the past several years, from $1,042,275 in 2017 to $8,279,297 in 2023.. Healthy asset growth, increasing from $775,625 in 2017 to $2,529,333 in 2023.. Low fundraising costs, indicating efficient resource allocation.. Strong program spending, with a high percentage of expenses dedicated to direct services.. These findings are derived from AI analysis of the organization's financial filings.
How does Franklin Township Food Bank compensate executives?
Executive compensation is not reported in the provided data, indicating it is likely below the IRS reporting threshold for key employees, which is a positive sign for a smaller nonprofit. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has the food bank managed to achieve such significant revenue growth over the past few years?
The food bank has demonstrated remarkable revenue growth, increasing from $1,042,275 in 2017 to $8,279,297 in 2023. This suggests successful fundraising strategies, increased community support, or expanded program reach.
What factors contribute to the consistently low administrative and fundraising percentages?
The consistently low administrative and fundraising percentages (e.g., 10% admin, 5% fundraising in 2023) indicate efficient operations and a strong focus on directing funds towards programs. This could be due to a dedicated volunteer base, lean operational structure, or effective cost management.
Filing History
IRS 990 filing history for Franklin Township Food Bank showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Franklin Township Food Bank's revenue has grown by 380.9%, moving from $1.7M to $8.3M. Total assets increased by 210.6% over the same period, from $814K to $2.5M. Total functional expenses rose by 375.1%, from $1.7M to $8.2M. In its most recent filing year (2023), Franklin Township Food Bank reported a surplus of $78K, with revenue exceeding expenses. The organization holds $363K in liabilities against $2.5M in assets (debt-to-asset ratio: 14.4%), resulting in net assets of $2.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $8.3M | $8.2M | $2.5M | $363K | — | View 990 |
| 2022 | $7.6M | $7.2M | $2.1M | $15K | — | View 990 |
| 2021 | $5.8M | $5.4M | $1.8M | $27K | — | View 990 |
| 2020 | $4.7M | $3.8M | $1.4M | $7K | — | — |
| 2019 | $3.1M | $3.2M | $564K | $11K | — | View 990 |
| 2018 | $3.1M | $3.1M | $732K | $8K | — | View 990 |
| 2017 | $1.0M | $1.0M | $776K | $6K | — | View 990 |
| 2017 | $3.2M | $3.1M | $770K | $7K | — | View 990 |
| 2016 | $2.7M | $2.7M | $691K | $10K | — | View 990 |
| 2015 | $2.3M | $2.3M | $708K | $24K | — | View 990 |
| 2014 | $1.6M | $1.6M | $735K | $31K | — | View 990 |
| 2013 | $2.0M | $2.0M | $734K | $49K | — | View 990 |
| 2012 | $1.9M | $1.9M | $782K | $95K | — | View 990 |
| 2011 | $1.7M | $1.7M | $814K | $150K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.3M, expenses of $8.2M, and assets of $2.5M (revenue +9.3% year-over-year).
- 2022: Revenue of $7.6M, expenses of $7.2M, and assets of $2.1M (revenue +30.8% year-over-year).
- 2021: Revenue of $5.8M, expenses of $5.4M, and assets of $1.8M (revenue +24.0% year-over-year).
- 2020: Revenue of $4.7M, expenses of $3.8M, and assets of $1.4M (revenue +52.0% year-over-year).
- 2019: Revenue of $3.1M, expenses of $3.2M, and assets of $564K (revenue +0.3% year-over-year).
- 2018: Revenue of $3.1M, expenses of $3.1M, and assets of $732K (revenue +193.7% year-over-year).
- 2017: Revenue of $1.0M, expenses of $1.0M, and assets of $776K (revenue -67.6% year-over-year).
- 2017: Revenue of $3.2M, expenses of $3.1M, and assets of $770K (revenue +17.9% year-over-year).
- 2016: Revenue of $2.7M, expenses of $2.7M, and assets of $691K (revenue +19.8% year-over-year).
- 2015: Revenue of $2.3M, expenses of $2.3M, and assets of $708K (revenue +41.0% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.6M, and assets of $735K (revenue -20.9% year-over-year).
- 2013: Revenue of $2.0M, expenses of $2.0M, and assets of $734K (revenue +7.9% year-over-year).
- 2012: Revenue of $1.9M, expenses of $1.9M, and assets of $782K (revenue +9.9% year-over-year).
- 2011: Revenue of $1.7M, expenses of $1.7M, and assets of $814K.
Data Sources and Methodology
This transparency report for Franklin Township Food Bank 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.