Local North Texas Food Bank made the list of Forbes’ top 100 charities in the United States.
Food banks have a record-breaking presence on the 2022 Forbes list, speaking to the growing awareness about food insecurity and the role food banks play since the COVID-19 pandemic in 2020.
The No. 1 spot on the list went to Feeding America, a Chicago-based food bank organization. Forbes’ dataset is based on the most recently reported fiscal year for each charity. For Feeding America, the last reported fiscal year ended on June 30, 2021. In that year, the organization took in over $4 billion in donations.
A total of 11 food banks made the top 100 list, six of which were newcomers. Among these was the North Texas Food Bank in Plano, which ranked at No.87. Two other Texas food banks also made their first appearances on the list. El Pasoans Fighting Hunger in Texas ranked at No.73. San Antonio Food Bank tanked in at No.93.
Adding to Feeding America’s credentials, 10 of the food banks on the list were affiliates of the organization, including the North Texas Food Bank.
In determining the ranking, Forbes looked at the number of private donations, the charity’s total revenue, fundraising efficiency, and charitable commitment.
Fundraising efficiency “shows the percent of private donations remaining after deducting the costs of getting them.” Essentially, this percentage shows whether or not the method of fundraising is an efficient way of garnering donations.
Charitable commitment is a similar calculation as it relates to the percentage of the charity’s raised funds going directly to charitable work.
For its last reported fiscal year, the North Texas Food Bank had a total revenue of $247 million. The food bank’s fundraising efficiency and charitable commitment percentages were also remarkably high, at 96% and 95% respectively.