Overview
What is Soky Food Bank Inc?
Soky Food Bank Inc, located in Adolphus, Kentucky, serves as a vital nonprofit organization. Its primary mission is to alleviate food insecurity and offer necessary resources to individuals in need. Operating at 281 Andrew Jackson Hwy, the organization strives to fulfill its purpose by providing essential food supplies and additional aid. The specifics of their activities are not detailed in the provided information, but we can infer that they aim to assist their community in overcoming hardships related to food scarcity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Soky Food Bank Inc has received a commendable score of 79%, indicating a solid performance in accountability and finance. With 100% of its board members being independent, the organization demonstrates a strong governance structure. This is further reinforced by its comprehensive policies, including conflict of interest and whistleblower policies, which are essential for ethical operations.
The food bank excels in its financial management, showing a program expense ratio of 99.08%. This suggests that nearly all of its expenditures are directed towards its charitable programs, which is a positive indicator for donors and stakeholders. Additionally, the organization maintains an impressive liabilities to assets ratio of 0.00%, signifying no debt obligations.
While the organization has shown strong performance in governance and financial management, the three-star rating reflects that there is room for improvement in other areas that could enhance its overall effectiveness. However, the existing strengths provide a solid foundation for Soky Food Bank Inc to continue its mission of serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Soky Food Bank Inc legitimate?
Soky Food Bank Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Soky Food Bank Inc 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
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What is the mission statement of Soky Food Bank Inc?
Soky Food Bank Inc's mission is centered around providing essential food and resources to individuals in need. The organization's primary goal is to alleviate hunger and support those who are struggling financially. Through its activities, Soky Food Bank Inc aims to contribute to the well-being of the community by providing them with the necessary resources to lead a more stable and nourished life. The organization focuses on addressing food insecurity and works towards ensuring that no one goes hungry.
Who is the CEO of Soky Food Bank Inc?
Francis Michael Sweeney Ii is the President of Soky Food Bank Inc.
What is the revenue of Soky Food Bank Inc?
Soky Food Bank Inc's revenue in 2022 was $854,705.
Who are the executives of Soky Food Bank Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Soky Food Bank Inc?
Soky Food Bank Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Soky Food Bank Inc
Soky Food Bank Inc, a nonprofit organization, is dedicated to assisting those in need by providing essential food and resources. The primary mission of Soky Food Bank Inc is to alleviate hunger and support individuals who find themselves in challenging circumstances. By offering food and resources, this nonprofit aims to contribute to the well-being and stability of its community members. The organization strives to ensure that no one goes without the basic necessity of food, thereby promoting a more equitable and compassionate society.
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Impact
July, 2024
Soky Food Bank Inc's impact lies in its ability to provide crucial food and resources to people in need, particularly in the city of Adolphus, KY. By addressing food insecurity, Soky Food Bank Inc plays a vital role in supporting the well-being and alleviating hunger among individuals and families in the community. Through its mission of providing essential resources, Soky Food Bank Inc helps combat food insecurity and ensures that those facing hardships have access to the necessary support to meet their basic needs.
This information is meant to be a general summary of Soky Food Bank Inc. 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.
- Program Service Revenue: $1,968
- Gross Receipts: $854,705
Assets and Liabilities:
- Total Assets: $1,381,849
- Total Liabilities: $0
- Net Assets: $1,381,849
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES
Revenue
$1,968
Organization Details
Founding Year
2020
Phone
(269) 348-5707Principal Officer
Francis Michael Sweeney Ii
Main Address
281 ANDREW JACKSON HWY, ADOLPHUS, KY, 42120
NTEE Category
Code: P60 - Human services
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