Overview
What is Capital Area Food Bank Foundation?
The Capital Area Food Bank Foundation is a nonprofit organization dedicated to supporting the charitable initiatives of the Capital Area Food Bank. Based in Washington, D.C., the foundation's primary role is to raise funds and manage investments for the benefit of the food bank. Their activities include planning and carrying out fundraising campaigns, retaining investment advisors, making grants to the food bank, and directly paying for its expenditures. The foundation may also borrow or loan money and enter into similar transactions for the food bank's benefit. Through these efforts, the Capital Area Food Bank Foundation contributes financially to the food bank's mission of providing essential food resources to those in need in the community.
Official website here: www.capitalareafoodbank.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star Rating
The Capital Area Food Bank Foundation has achieved a high score of 96%, reflecting a strong commitment to accountability and financial practices. The charity's rating is derived solely from its accountability and finance score, which highlights its robust governance and fiscal management. This high score indicates that the organization operates with transparency and integrity, ensuring that donor funds are used effectively to support its mission.
The board of directors is fully independent, showcasing a commitment to ethical oversight with all eight members meeting the criteria for independence. Additionally, the organization has established comprehensive policies, including oversight committees and conflict of interest policies, which further strengthen its governance framework. The food bank also maintains an impressive program expense ratio of 97.73%, indicating that a significant portion of its expenditures directly supports its programs.
While the ratings emphasize the organization's strengths in governance and financial stability, there are no notable limitations reported in the data. Overall, the Capital Area Food Bank Foundation stands out as a reliable and well-managed nonprofit, effectively utilizing resources to combat food insecurity in its community.
This AI summary has been generated from information found on Charity Navigator.
Is Capital Area Food Bank Foundation legitimate?
Capital Area Food Bank Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capital Area Food Bank Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.capitalareafoodbank.org
What is the mission statement of Capital Area Food Bank Foundation?
The Capital Area Food Bank Foundation operates with the primary goal of supporting the charitable purposes of Capital Area Food Bank. In doing so, it manages and invests funds, including stocks, bonds, and loans, to benefit the organization. The foundation engages in various activities to support the Food Bank, such as planning and executing fundraising campaigns, making grants, and paying for the Food Bank's expenditures directly. Additionally, the foundation may borrow or loan money and enter into similar transactions to further benefit the Food Bank.
Official website here: www.capitalareafoodbank.org
Who is the CEO of Capital Area Food Bank Foundation?
Radha Muthiah is the President of Capital Area Food Bank Foundation.
Official website here: www.capitalareafoodbank.org
What is the revenue of Capital Area Food Bank Foundation?
Capital Area Food Bank Foundation's revenue in 2022 was $17,403,920.
Official website here: www.capitalareafoodbank.org
Who are the executives of Capital Area Food Bank Foundation and what are their salaries?
There 4 volunteers at Capital Area Food Bank Foundation.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $366,884
- Other: $12,708
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $241,663
- Other: $12,004
Official website here: www.capitalareafoodbank.org
Where can I find the form 990 for Capital Area Food Bank Foundation?
Capital Area Food Bank Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.capitalareafoodbank.org
Learn more at the official website: www.capitalareafoodbank.org
Mission Statement of Capital Area Food Bank Foundation
The Capital Area Food Bank Foundation serves a crucial role in upholding the charitable objectives of the Capital Area Food Bank. Established to support the Food Bank's mission, the Foundation focuses on managing financial resources and carrying out various fundraising campaigns. The Foundation's primary activity is to fundraise and invest funds on behalf of the Capital Area Food Bank. These funds may be allocated towards capital expenditures, an endowment, or other financial purposes.
To further support the Food Bank's efforts, the Foundation manages and directs its investments through the retention of investment advisors. Additionally, the Foundation extends financial assistance to the Capital Area Food Bank by making grants, paying third-party expenses, and engaging in borrowing or loaning transactions. Through these actions, the Capital Area Food Bank Foundation contributes significantly to the Food Bank's capacity to provide essential services to the community.
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Impact
October, 2024
The Capital Area Food Bank Foundation plays a crucial role in enhancing food security and supporting the work of the Capital Area Food Bank. By providing financial resources, the Foundation helps fund capital expenditures, establish an endowment fund, and manage investments that directly benefit the Food Bank. This support enables the Food Bank to effectively carry out its mission of alleviating hunger in the community.
Through strategic fundraising campaigns, the Foundation generates essential funds that allow the Food Bank to expand its reach and service capabilities. This includes making grants, paying third-party expenditures directly related to food distribution, and facilitating financial transactions that bolster the Food Bank's operations. In doing so, the Foundation ensures a sustained and effective response to food insecurity in Washington, DC, and surrounding areas.
Overall, the impact of the Capital Area Food Bank Foundation is significant, as it not only provides necessary financial support but also strengthens the infrastructure of the Food Bank, allowing it to serve more individuals and families in need.
This information is meant to be a general summary of Capital Area Food Bank Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,403,920
- Gross Receipts: $23,064,756
Assets and Liabilities:
- Total Assets: $48,642,033
- Total Liabilities: $0
- Net Assets: $48,642,033
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Organization Details
Founding Year
2010
Phone
(202) 644-9800Principal Officer
Radha Muthiah
Main Address
4900 PUERTO RICO AVENUE NE, WASHINGTON, DC, 20017
Website
www.capitalareafoodbank.orgNTEE Category
Code: K11 - Food
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