Community Food Bank of Citrus County Inc

What it reported doing in 2024

Back-to-back hurricanes helene and milton gave way to new relationships, better understanding of needs, and more refined networks in 2024. The community food bank stepped up to handle fema supplies for citrus county and assist in logisitcs and filling unmet needs in both citrus and hernando counties. We continued to align staff to a structure of solid leadership in anticipation of a 2025 territory expansion including developing relationships in hernando county to bring forth the rise empowerment center concept. We continued to explore the systems and solutions necessary to streamline and improve our operations as well as our interpersonal dealings. We successfully increased the donation level of several granters as well as expanded our reach for possible new awards. Four new foundations/grants, 33 monthly donors are aboard (up 12) at 3,893 from 1,475 a month total, and 795,518.33 vs 477,322 (prior year) was logged into our donor crm. We also landed our first government grant with 250,000 in arpa monies for the hernano empowerment center site planning. We had 53 new donor contacts up 30% (goal 10%), 290 total donors, and with 58% retention level (goal is 40-45%). We also increased the gift amounts by 289,481 or 64%. 234 donors were from citrus, 10 from hernando, and 36 were attributed to hernando and citrus combined. 4,610,242 pounds of food and supplies were distributed. 97,826 pounds of scrap was upcycled from local supermarkets to feed animals, leaving just 5,105 as trash instead of 102,931 pounds, just 5% we are looking forward to better serving all clients in need in citrus, hernando, and sumter counties as push expand our territory coverage in 2025 and work to increase food relief as well as promote wrap-around services and support so that no one goes hungry and everyone will rise together.

Financial Efficiency

• Mission deployment rate: 73.5%; rating input score 73
• Program expense ratio: 80.4%; rating input score 80
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 8 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: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 8.7%; rating input score 59; 59th percentile among comparable filings
• Total-asset coverage ratio: 1.34; rating input score 52; 52nd percentile among comparable filings
• Liabilities to assets ratio: 0.17; rating input score 34; 34th percentile among comparable filings
• Officer compensation ratio: 7.6%; rating input score 45; 45th percentile among comparable filings

Growth

• Program expense growth: 9.1% per year; rating input score 100; 60th percentile among comparable filings
• Revenue growth: 10.2% per year; rating input score 100; 67th percentile among comparable filings
• Asset growth: 14.2% per year; rating input score 100; 70th percentile among comparable filings