Vermont Foodbank
Vermont Foodbank: Strong Program Spending, but Declining Revenue
EIN: 223021942 · Barre, VT · NTEE: K31I · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $36.5M |
| Total Expenses | $36.7M |
| Program Spending | 88% |
| CEO/Top Officer Pay | $227,220 |
| Net Assets | $33.5M |
| Transparency Score | 85/100 |
Is Vermont Foodbank Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Vermont Foodbank directs 88% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Vermont Foodbank
Vermont Foodbank (EIN: 223021942) is a nonprofit organization based in Barre, VT, classified under NTEE code K31I. The organization reported total revenue of $36.5M and total assets of $34.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Vermont Foodbank's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Vermont Foodbank is a large nonprofit that has been operating for 36 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $34.1M |
| Total Expenses | $36.7M |
| Surplus / Deficit | $-2,619,113 |
| Total Assets | $35.7M |
| Total Liabilities | $2.3M |
| Net Assets | $33.5M |
| Operating Margin | -7.7% |
| Debt-to-Asset Ratio | 6.4% |
| Months of Reserves | 11.7 months |
Financial Health Grade: B
In 2023, Vermont Foodbank reported a deficit of $2.6M with expenses exceeding revenue, holds 11.7 months of operating reserves (strong position), has a debt-to-asset ratio of 6.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Vermont Foodbank's revenue has grown at a compound annual growth rate (CAGR) of 6.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.5% | +4.5% | -4.2% |
| 2022 | -26.6% | -8.8% | +3.1% |
| 2021 | +12.7% | +11.8% | +45.1% |
| 2020 | +67.2% | +45.9% | +68.7% |
| 2019 | -0.2% | -4.9% | +34.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 Vermont Foodbank 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: 7%
- programs: 88%
- fundraising: 5%
According to IRS 990 filings, Vermont Foodbank allocates its expenses as follows: admin: 7%, programs: 88%, fundraising: 5%. With 88% 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 deficit of $2.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 6.4%.
Executive Compensation Analysis
Executive compensation appears reasonable given the organization's size and impact, with the highest reported compensation for the CEO at $227,220 in 2023, representing a small fraction of total expenses.
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 Vermont Foodbank's IRS 990 filings:
- Revenue has seen a significant decline from a peak of $50,152,047 in 2021 to $34,063,087 in 2023, which could impact future program capacity.
- While assets have generally increased, the decline in revenue warrants close monitoring to ensure long-term financial stability.
Strengths
The following positive indicators were identified for Vermont Foodbank:
- Consistently high percentage of spending on programs (88% in 2023) demonstrates a strong commitment to their mission.
- Healthy asset growth over the past several years, from $9,012,369 in 2016 to $35,746,376 in 2023, indicates sound financial management.
- Low administrative and fundraising costs (7% and 5% respectively in 2023) suggest efficient operations.
- The organization has maintained a positive net income (revenue minus expenses) in most years, indicating financial health.
Frequently Asked Questions about Vermont Foodbank
Is Vermont Foodbank a legitimate charity?
Based on AI analysis of IRS 990 filings, Vermont Foodbank (EIN: 223021942) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Vermont Foodbank spend its money?
Vermont Foodbank directs 88% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Vermont Foodbank tax-deductible?
Vermont Foodbank is registered as a tax-exempt nonprofit (EIN: 223021942). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Vermont Foodbank CEO make?
Vermont Foodbank's highest-compensated officer earns $227,220 annually. The organization reported $36.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Vermont Foodbank's spending goes to programs?
Vermont Foodbank directs 88% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Vermont Foodbank compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Vermont Foodbank is above average for NTEE category K31I nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Vermont Foodbank located?
Vermont Foodbank is headquartered in Barre, Vermont and files with the IRS under EIN 223021942. It is classified under NTEE code K31I.
How many years of IRS 990 filings does Vermont Foodbank have?
Vermont Foodbank has 13 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 $36.5M in total revenue.
What does Vermont Foodbank do?
Vermont Foodbank is a nonprofit organization in the Food, Agriculture & Nutrition sector, located in Barre, Vermont. It is classified under NTEE code K31I.
How much revenue does Vermont Foodbank have?
Vermont Foodbank reported total revenue of $36,471,791. Based on 13 IRS 990 filings on record.
What are Vermont Foodbank's total assets?
Vermont Foodbank holds total assets of $34,865,077 as reported in IRS 990 filings.
Where is Vermont Foodbank located?
Vermont Foodbank is based in Barre, Vermont.
What is Vermont Foodbank's EIN?
Vermont Foodbank's Employer Identification Number (EIN) is 223021942. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Vermont Foodbank?
Vermont Foodbank is classified under NTEE code K31I (Food, Agriculture & Nutrition).
Is Vermont Foodbank a registered 501(c)(3)?
Yes, Vermont Foodbank is recognized as a tax-exempt organization by the IRS. EIN: 223021942.
Does Vermont Foodbank file IRS Form 990?
Yes, Vermont Foodbank has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Vermont Foodbank's revenue in 2023?
In the 202309 filing period, Vermont Foodbank reported total revenue of $34,063,087, total expenses of $36,682,200, and net assets of $35,746,376.
Is Vermont Foodbank's revenue growing or declining?
Vermont Foodbank's revenue is declining. Revenue went from $36,820,063 (202209) to $34,063,087 (202309), a -7.5% change. Based on 13 filings on record.
What is Vermont Foodbank's most recent 990 filing?
The most recent IRS Form 990 filing for Vermont Foodbank covers tax period 202309. It shows revenue of $34,063,087, expenses of $36,682,200, total assets of $35,746,376, and liabilities of $2,272,200.
How much does Vermont Foodbank spend on programs vs administration?
Based on IRS 990 analysis, Vermont Foodbank allocates approximately 88% of expenses to program services, 7% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Vermont Foodbank a trustworthy charity?
Based on AI analysis of IRS 990 data, Vermont Foodbank appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 4 strengths noted.
What are the red flags for Vermont Foodbank?
The following concerns were identified: Revenue has seen a significant decline from a peak of $50,152,047 in 2021 to $34,063,087 in 2023, which could impact future program capacity.. While assets have generally increased, the decline in revenue warrants close monitoring to ensure long-term financial stability.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Vermont Foodbank's strengths?
Positive indicators for Vermont Foodbank include: Consistently high percentage of spending on programs (88% in 2023) demonstrates a strong commitment to their mission.. Healthy asset growth over the past several years, from $9,012,369 in 2016 to $35,746,376 in 2023, indicates sound financial management.. Low administrative and fundraising costs (7% and 5% respectively in 2023) suggest efficient operations.. The organization has maintained a positive net income (revenue minus expenses) in most years, indicating financial health.. These findings are derived from AI analysis of the organization's financial filings.
How does Vermont Foodbank compensate executives?
Executive compensation appears reasonable given the organization's size and impact, with the highest reported compensation for the CEO at $227,220 in 2023, representing a small fraction of total expenses. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has the Vermont Foodbank managed to maintain high program spending despite a notable decrease in total revenue from 2021 to 2023?
Despite a revenue drop from $50,152,047 in 2021 to $34,063,087 in 2023, the Vermont Foodbank has maintained high program spending by potentially drawing on accumulated assets or by optimizing operational efficiencies to allocate a larger proportion of available funds directly to programs.
What specific strategies has the Vermont Foodbank implemented to keep its fundraising costs consistently low, often below 5% of total expenses?
The consistently low fundraising costs, at 5% in 2023, suggest effective donor retention strategies, a strong volunteer base, or reliance on grants and institutional funding that require less direct fundraising expenditure compared to individual donor campaigns.
Filing History
IRS 990 filing history for Vermont Foodbank showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Vermont Foodbank's revenue has grown by 105%, moving from $16.6M to $34.1M. Total assets increased by 410.3% over the same period, from $7.0M to $35.7M. Total functional expenses rose by 125.4%, from $16.3M to $36.7M. In its most recent filing year (2023), Vermont Foodbank reported a deficit of $2.6M, with expenses exceeding revenue. The organization holds $2.3M in liabilities against $35.7M in assets (debt-to-asset ratio: 6.4%), resulting in net assets of $33.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $34.1M | $36.7M | $35.7M | $2.3M | — | View 990 |
| 2022 | $36.8M | $35.1M | $37.3M | $1.4M | — | View 990 |
| 2021 | $50.2M | $38.5M | $36.2M | $591K | — | View 990 |
| 2020 | $44.5M | $34.4M | $25.0M | $1.0M | — | View 990 |
| 2019 | $26.6M | $23.6M | $14.8M | $1.0M | — | View 990 |
| 2018 | $26.7M | $24.8M | $11.0M | $379K | — | View 990 |
| 2017 | $23.9M | $23.7M | $9.2M | $406K | — | View 990 |
| 2016 | $26.7M | $24.6M | $9.0M | $431K | — | View 990 |
| 2015 | $21.3M | $21.2M | $6.9M | $526K | — | View 990 |
| 2014 | $19.5M | $19.1M | $6.9M | $396K | — | View 990 |
| 2013 | $17.7M | $17.2M | $6.9M | $373K | — | View 990 |
| 2012 | $16.5M | $17.1M | $6.3M | $265K | — | View 990 |
| 2011 | $16.6M | $16.3M | $7.0M | $518K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $34.1M, expenses of $36.7M, and assets of $35.7M (revenue -7.5% year-over-year).
- 2022: Revenue of $36.8M, expenses of $35.1M, and assets of $37.3M (revenue -26.6% year-over-year).
- 2021: Revenue of $50.2M, expenses of $38.5M, and assets of $36.2M (revenue +12.7% year-over-year).
- 2020: Revenue of $44.5M, expenses of $34.4M, and assets of $25.0M (revenue +67.2% year-over-year).
- 2019: Revenue of $26.6M, expenses of $23.6M, and assets of $14.8M (revenue -0.2% year-over-year).
- 2018: Revenue of $26.7M, expenses of $24.8M, and assets of $11.0M (revenue +11.5% year-over-year).
- 2017: Revenue of $23.9M, expenses of $23.7M, and assets of $9.2M (revenue -10.4% year-over-year).
- 2016: Revenue of $26.7M, expenses of $24.6M, and assets of $9.0M (revenue +25.5% year-over-year).
- 2015: Revenue of $21.3M, expenses of $21.2M, and assets of $6.9M (revenue +9.3% year-over-year).
- 2014: Revenue of $19.5M, expenses of $19.1M, and assets of $6.9M (revenue +10.1% year-over-year).
- 2013: Revenue of $17.7M, expenses of $17.2M, and assets of $6.9M (revenue +7.4% year-over-year).
- 2012: Revenue of $16.5M, expenses of $17.1M, and assets of $6.3M (revenue -0.9% year-over-year).
- 2011: Revenue of $16.6M, expenses of $16.3M, and assets of $7.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Vermont Foodbank:
Data Sources and Methodology
This transparency report for Vermont Foodbank 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.