Gifts From The Heart Food Bank
Gifts From The Heart Food Bank shows strong asset growth and minimal expenses with volunteer leadership.
EIN: 20549032 · Coupeville, WA · NTEE: K31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $211K |
| Total Expenses | $46K |
| Program Spending | 95% |
| Net Assets | $967K |
| Transparency Score | 98/100 |
Is Gifts From The Heart Food Bank Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gifts From The Heart Food Bank directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gifts From The Heart Food Bank
Gifts From The Heart Food Bank (EIN: 20549032) is a nonprofit organization based in Coupeville, WA, classified under NTEE code K31. The organization reported total revenue of $211K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gifts From The Heart Food Bank's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gifts From The Heart Food Bank is a small nonprofit that has been operating for 24 years, with 5 years of IRS 990 filings on record (2019–2023). Revenue has grown at a compound annual rate of 43.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $343K |
| Total Expenses | $46K |
| Surplus / Deficit | +$297K |
| Total Assets | $967K |
| Net Assets | $967K |
| Operating Margin | 86.5% |
| Months of Reserves | 251.2 months |
Financial Health Grade: A
In 2023, Gifts From The Heart Food Bank reported a surplus of $297K with revenue exceeding expenses, holds 251.2 months of operating reserves (strong position).
Financial Trends
Over 5 years of filings (2019–2023), Gifts From The Heart Food Bank's revenue has grown at a compound annual growth rate (CAGR) of 43.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +232.9% | +9.2% | +44.4% |
| 2022 | -31.1% | +35.1% | +10.0% |
| 2021 | -17.6% | -22.7% | +24.1% |
| 2020 | +122.3% | +8.5% | +40.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Gifts From The Heart Food Bank with a Mission Score of 98 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: 95%
- fundraising: 0%
According to IRS 990 filings, Gifts From The Heart Food Bank allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $297K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is 0% across all reported periods, indicating that the organization is run by volunteers, which significantly reduces administrative overhead and maximizes funds available for its 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.
Strengths
The following positive indicators were identified for Gifts From The Heart Food Bank:
- Consistent 0% officer compensation, indicating volunteer leadership and low overhead.
- Strong asset growth, from $349,673 in 2019 to $967,356 in 2023.
- Extremely low expense ratio relative to revenue (e.g., $46,217 expenses vs. $343,498 revenue in 2023).
- Zero liabilities reported across all five filing periods, demonstrating excellent financial stability.
- Consistent IRS 990 filings, indicating good transparency and compliance.
Frequently Asked Questions about Gifts From The Heart Food Bank
Is Gifts From The Heart Food Bank a legitimate charity?
Based on AI analysis of IRS 990 filings, Gifts From The Heart Food Bank (EIN: 20549032) appears legitimate. Mission Score: 98/100. 0 red flags identified, 5 strengths noted.
How does Gifts From The Heart Food Bank spend its money?
Gifts From The Heart Food Bank directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gifts From The Heart Food Bank tax-deductible?
Gifts From The Heart Food Bank is registered as a tax-exempt nonprofit (EIN: 20549032). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Gifts From The Heart Food Bank compare to similar nonprofits?
With a transparency score of 98/100 (Excellent), Gifts From The Heart Food Bank is above average for NTEE category K31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gifts From The Heart Food Bank located?
Gifts From The Heart Food Bank is headquartered in Coupeville, Washington and files with the IRS under EIN 20549032. It is classified under NTEE code K31.
How many years of IRS 990 filings does Gifts From The Heart Food Bank have?
Gifts From The Heart Food Bank has 5 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $211K in total revenue.
How does Gifts From The Heart Food Bank manage to keep its expenses so low?
The organization's expenses are remarkably low, for example, $46,217 in 2023 against $343,498 in revenue. This is primarily due to its volunteer-led structure, as indicated by 0% officer compensation, and likely efficient operational practices, minimizing administrative and fundraising costs.
What is the trend in the organization's financial growth?
Gifts From The Heart Food Bank has shown consistent financial growth. Its assets have nearly tripled from $349,673 in 2019 to $967,356 in 2023, and revenue has seen significant fluctuations but a strong upward trend, peaking at $343,498 in 2023.
Does the organization have any debt?
No, the organization consistently reports $0 in liabilities across all five IRS 990 filings, indicating a debt-free operation.
Filing History
IRS 990 filing history for Gifts From The Heart Food Bank showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2019–2023), Gifts From The Heart Food Bank's revenue has grown by 320.3%, moving from $82K to $343K. Total assets increased by 176.6% over the same period, from $350K to $967K. Total functional expenses rose by 23.8%, from $37K to $46K. In its most recent filing year (2023), Gifts From The Heart Food Bank reported a surplus of $297K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $343K | $46K | $967K | $0 | — | View 990 |
| 2022 | $103K | $42K | $670K | $0 | — | View 990 |
| 2021 | $150K | $31K | $609K | $0 | — | — |
| 2020 | $182K | $41K | $491K | $0 | — | View 990 |
| 2019 | $82K | $37K | $350K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $343K, expenses of $46K, and assets of $967K (revenue +232.9% year-over-year).
- 2022: Revenue of $103K, expenses of $42K, and assets of $670K (revenue -31.1% year-over-year).
- 2021: Revenue of $150K, expenses of $31K, and assets of $609K (revenue -17.6% year-over-year).
- 2020: Revenue of $182K, expenses of $41K, and assets of $491K (revenue +122.3% year-over-year).
- 2019: Revenue of $82K, expenses of $37K, and assets of $350K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gifts From The Heart Food Bank:
Data Sources and Methodology
This transparency report for Gifts From The Heart 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.