Sharenet Food Bank
EIN: 824153719 · Kingston, WA · NTEE: K31
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $409K |
| Net Assets | $741K |
Is Sharenet Food Bank Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Sharenet Food Bank
Sharenet Food Bank (EIN: 824153719) is a nonprofit organization based in Kingston, WA, classified under NTEE code K31. The organization reported total revenue of $1.3M and total assets of $706K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sharenet Food Bank's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sharenet Food Bank is a mid-size nonprofit that has been operating for 7 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of -9.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $427K |
| Total Expenses | $409K |
| Surplus / Deficit | +$19K |
| Total Assets | $749K |
| Total Liabilities | $8K |
| Net Assets | $741K |
| Operating Margin | 4.4% |
| Debt-to-Asset Ratio | 1.1% |
| Months of Reserves | 22.0 months |
Financial Health Grade: A
In 2023, Sharenet Food Bank reported a surplus of $19K with revenue exceeding expenses, holds 22.0 months of operating reserves (strong position), has a debt-to-asset ratio of 1.1% (very low leverage).
Financial Trends
Over 6 years of filings (2018–2023), Sharenet Food Bank's revenue has declined at a compound annual growth rate (CAGR) of -9.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.2% | +29.6% | +2.9% |
| 2022 | -30.7% | -20.3% | +13.2% |
| 2021 | -16.7% | -7.5% | +30.7% |
| 2020 | +45.9% | -4.9% | +116.9% |
| 2019 | -32.3% | -5.8% | +5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Sharenet Food Bank has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Sharenet Food Bank with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $19K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.1%.
Frequently Asked Questions about Sharenet Food Bank
Is Sharenet Food Bank a legitimate charity?
Sharenet Food Bank (EIN: 824153719) is a registered tax-exempt nonprofit based in Washington. It has 6 years of IRS 990 filings on record. Total revenue: $1.3M. No red flags identified. Financial health grade: A.
How does Sharenet Food Bank spend its money?
Sharenet Food Bank reported $1.3M in total revenue in IRS 990 filings. 6 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Sharenet Food Bank tax-deductible?
Sharenet Food Bank is registered as a tax-exempt nonprofit (EIN: 824153719). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Sharenet Food Bank located?
Sharenet Food Bank is headquartered in Kingston, Washington and files with the IRS under EIN 824153719. It is classified under NTEE code K31.
How many years of IRS 990 filings does Sharenet Food Bank have?
Sharenet Food Bank has 6 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 $1.3M in total revenue.
Filing History
IRS 990 filing history for Sharenet Food Bank showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Sharenet Food Bank's revenue has declined by 37.7%, moving from $686K to $427K. Total assets increased by 248.2% over the same period, from $215K to $749K. Total functional expenses fell by 14.5%, from $478K to $409K. In its most recent filing year (2023), Sharenet Food Bank reported a surplus of $19K, with revenue exceeding expenses. The organization holds $8K in liabilities against $749K in assets (debt-to-asset ratio: 1.1%), resulting in net assets of $741K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $427K | $409K | $749K | $8K | — | View 990 |
| 2022 | $391K | $315K | $728K | $8K | — | View 990 |
| 2021 | $565K | $396K | $643K | $3K | — | View 990 |
| 2020 | $678K | $428K | $492K | $18K | — | — |
| 2019 | $465K | $450K | $227K | $4K | — | View 990 |
| 2018 | $686K | $478K | $215K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $427K, expenses of $409K, and assets of $749K (revenue +9.2% year-over-year).
- 2022: Revenue of $391K, expenses of $315K, and assets of $728K (revenue -30.7% year-over-year).
- 2021: Revenue of $565K, expenses of $396K, and assets of $643K (revenue -16.7% year-over-year).
- 2020: Revenue of $678K, expenses of $428K, and assets of $492K (revenue +45.9% year-over-year).
- 2019: Revenue of $465K, expenses of $450K, and assets of $227K (revenue -32.3% year-over-year).
- 2018: Revenue of $686K, expenses of $478K, and assets of $215K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sharenet Food Bank:
Data Sources and Methodology
This transparency report for Sharenet 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.