Food Bank of South Jersey Inc
Nonprofit profile at a glance
- EIN
- 222623089
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Pennsauken, NJ, USA
- Phone
- 8566624884
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $50,520,817
- Expenses
- $48,984,989
- Assets
- $26,047,335
- Liabilities
- $3,839,707
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
22 people listed
Executive titles in this filing
- FREDERICK C WASIAK (CEO)
Highest reported compensation
- FREDERICK C WASIAK (CEO): $235,563 total reported compensation
- CHARLIE HOSIER (COO): $154,512 total reported compensation
- LAVINIA AWOSANYA (CDO): $153,022 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The food bank of south jersey exists to provide an immediate solution to the urgent problem of hunger by providing food to people in need, teaching them to eat nutritiously, and helping them to find sustainable ways to improve their lives.
What it reported doing in 2024
The food bank of sj operates a donated food center that distributes food to qualifying not-for-profit organizations and agencies who distribute food to food insecure individuals. During 2024 the food bank distributed over 23.9 million pounds of food. The food bank accomplishes this through program services which is its core program through which the organization purchases and solicits surplus food each year from local, regional and national food sources. More than 200 emergency feeding programs access this food daily to meet the food needs of the people living in food insecure households across the 4 counties it serves. The emergency food assistance program is funded by the state of New Jersey through distribution of funds for the purchase of healthy and nutritious foods to feed people affected by hunger. Fbsj distributed more than 19 million meals in 2024, through direct distributions and its network of more than 300 partner agencies, and positively impacted over 185,000 south jersey neighbors.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 83
- Accountability: 100
- Sustainability: 44
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 90.9%; rating input score 91
- Program expense ratio: 93.7%; rating input score 94
- Fundraising efficiency: $22.52 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.4%; rating input score 94; 31st percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 98.4%; rating input score 98; 35th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th 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: 3%; rating input score 48; 48th percentile among comparable filings
- Total-asset coverage ratio: 0.53; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 0.15; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 2.1%; rating input score 54; 54th percentile among comparable filings
Growth
- Program expense growth: 12.4% per year; rating input score 100; 82nd percentile among comparable filings
- Revenue growth: 12% per year; rating input score 100; 83rd percentile among comparable filings
- Asset growth: 11.9% per year; rating input score 100; 78th percentile among comparable filings
Details
- Where the money goes: 90.9% of revenue deployed · 93.7% of spending went to programs
- Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $45.9M in reported program spending
- Leadership: top reported pay $236K · 22 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1M reported
- Consistency: 32 of 33 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes grants and executive pay
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 30 filed money-flow records
- Related organizations: 23 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 48/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 54/100.