Bread for the World

What it reported doing in 2025

Public Policy: Solving a complex problem such as hunger requires a clear understanding of the impact of specific policies and how policies affect each other. Bread's Policy and Research Institute's (PRI) nonpartisan analysis and identification of action steps help strengthen Bread as a trusted voice. (To be continued in Schedule O)Public Policy: The Institute contributed to research and thought leadership through briefings, coalition meetings, webinars, blogs, and policy papers on a variety of hunger-related policy and programs that came through Congress. Here are a few highlights from 2025: In September, Bread published its Nourish Our Future Policy Roadmap, a comprehensive framework focused on ending child hunger in the United States and around the world. The roadmap outlines practical, evidence-based policy solutions to ensure all children have consistent access to nutritious food, with particular emphasis on strengthening federal nutrition programs, improving maternal and child health, and addressing the root causes of food insecurity. Grounded in research and informed by the lived experiences of families, it has served as a unifying guide for Bread's advocacy, helping to align partners and equip policymakers with a clear, actionable path to ensure every child can thrive.In April, the Institute hosted its inaugural Climate and Nutrition Symposium to learn about and identify solutions to hunger and climate challenges in the U.S. and abroad. Featuring expert panelists with backgrounds in agricultural research, rural development, humanitarian response, and foreign aid policy, the 3-day Symposium brought together nearly 100 participants from the humanitarian, research, hunger response, and private sector to learn about how more effective food systems, better climate finance, and strategic climate mobility policies can help end hunger during a climate crisis. The final day of the Symposium culminated in bringing attendees to congressional offices to provide education on how climate is a hunger issue.In November, Bread brought together faith leaders, advocates, policy experts, and community members gathered in Frankfort, KY for a daylong conference focused on addressing hunger and strengthening our shared commitment to ending food insecurity. The event highlighted both the challenges and opportunities facing Kentucky families, especially in light of the ongoing government shutdown and cuts to federal nutrition programs. Throughout the day, participants engaged in thoughtful workshops and discussions, built relationships, and identified concrete actions to ensure every Kentuckian has access to nutritious food.A delegation from Bread participated in the United Nations Climate Change Conference (COP30), where they hosted three events highlighting how well-designed school meal programs can stabilize local food systems, support smallholder farmers, and improve long-term child health. In addition to our Bread-organized panels, we co-hosted a side event titled "Faith-based Partnership Advancing the Paris Agreement in the United States with Global Solidarity." This gathering emphasized how faith-based organizations are advancing climate priorities at both local and international levels. Bread also convened a listening session with grassroots leaders to inform our climate priorities and future scope of work. These conversations reinforced the importance of ensuring that climate-smart food policies reflect the lived realities of communities most affected by climate disruption.

Financial Efficiency

• Mission deployment rate: 82.9%; rating input score 83
• Program expense ratio: 87.7%; rating input score 88
• Fundraising efficiency: $16.34 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 75th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 97.2%; rating input score 97; 26th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 16.3%; rating input score 67; 67th percentile among comparable filings
• Total-asset coverage ratio: 3.17; rating input score 72; 72nd percentile among comparable filings
• Liabilities to assets ratio: 0.3; rating input score 26; 26th percentile among comparable filings
• Officer compensation ratio: 14.1%; rating input score 24; 24th percentile among comparable filings

Growth

• Program expense growth: -2% per year; rating input score 0; 8th percentile among comparable filings
• Revenue growth: -1.4% per year; rating input score 0; 5th percentile among comparable filings
• Asset growth: 2.5% per year; rating input score 100; 20th percentile among comparable filings