BBB Wise Giving Report for
Foods Resource Bank

BBB Wise Giving Report issued March 2011
BBB Wise Giving Report expires March 2012


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Foods Resource Bank
Address: 75 Remittance Drive, Suite 6539
  Chicago, IL 60675-6539
Phone: 888-276-4372
Web Address: www.foodsresourcebank.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1999, Virginia
Affiliates: None
Stated Purpose: "to provide sustainable food security programs that are implemented through member organizations."

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Evaluation Conclusions

               

Foods Resource Bank (FRB) does not meet the following Standard for Charity Accountability.

Standard 3: Frequency and Attendance of Board Meetings - An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.

FRB does not meet this Standard because:

  • The organization held three board meetings during the past fiscal year, but only one of those meetings was hled in-person.
Foods Resource Bank (FRB) meets the remaining 19 Standards for Charity Accountability.
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Programs

               

FRB works to build relationships among agricultural communities to foster people's ability to feed themselves. FRB links the grassroots energy and commitment of the U.S. agricultural community with the capability and desire of small farmers in developing countries to grow lasting solutions to hunger.

For the year ended December 31, 2008, FRB's program expenses were:

  
Overseas programs 3,148,113
United States growing projects 345,221
Total Program Expenses: $3,493,334
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Governance

               

Chief Executive : J. Marvin Baldwin, III, President & CEO
Compensation*:
 $113,848

Chair of the Board: David Erickson
Chair's Profession / Business Affiliation: COO, World Hope International

Board Size: 22

Paid Staff Size: 11

*2008 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, grant proposals, and Internet appeals.
Fund raising costs were 3% of related contributions. (Related contributions, which totaled $3,152,912, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on FRB's audited financial statements for the year ended December 31, 2008.

Source of Funds  
Contributions 2,886,912
Grants 266,000
Investment income 107,884
Other support 74,548
Miscellaneous 784
Loss on disposal of property and equipment -2,372
Total Income $3,333,756


chart



Uses of Funds as a % of Total Expenses

Programs: 92%  Fund Raising: 2%  Administrative: 6% 

Total income   $3,333,756
  Program expenses $3,493,334
  Fund raising expenses 80,151
  Administrative expenses 242,267
 
Total expenses   $3,815,752
Expenses in Excess of Income   (481,996)
Beginning net assets   4,070,856
Ending net assets   3,588,860
Total liabilities   52,708
Total assets   $3,641,568


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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