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Bread INC EIN 26-3407327

Bread INC FY2023 filing

EIN  26-3407327 Supporting organization Washington, DC Founded 2008
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
Distributes funds to support Bread for the City's programs.
Leadership
George Jones · Bread for Ci
Money in and out
$3K revenue, $630K expenses
Bottom line
-20863% net inflow

Distributes funds to support Bread for the City's programs. For fiscal year 2023 it reported $3K in revenue, $630K in expenses, and $4.5M in net assets.Pt I

Money in and out · FY2023
Total revenue
$3K
Pt VIII · Ln 12
Total expenses
$630K
Pt IX · Ln 25
Net assets
$4.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$627K
Where spending went · Part IX cols B–D
Management & general $1.00 Fundraising $0.00
Net inflow
-20863%
revenue over expenses, this year
Pass-through gifts
72%
of revenue from contributions
Program spending
0%
of expenses reach stated programs

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$3K
FY2023▼ -98%
Expenses
$630K
FY2023▲ +8%
Total assets
$28.4M
FY2023▼ -2%
Total liabilities
$23.9M
FY20230%
Total revenue
$3K
Pt VIII · Ln 12
Total expenses
$630K
Pt IX · Ln 25
Net assets
$4.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$627K
Total assetsPt X · Ln 16$28.4M
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 332
Independent voting membersPt I · Ln 432
Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2022.
01

Bread inc provide financial support by raising, managing, and distributing funds on behalf of bread for the city inc (BFC) so that BFC can continue to provide vulnerable residents of washington, DC. With comprehensive services including food, clothing, medical care, legal, and social servicesin an atmosphere of dignity and respect.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBread INC
EINHdr · item D26-3407327
Principal addressHdr · item CWashington, DC
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2008
State of legal domicileHdr · item MDC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T11)
Ruling yearIRS BMFDec 2008

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a32
Independent voting membersPt VI · Ln 1b32
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
George Jones
Bread for Ci
$0Pt VII · Sec A
Fatou Toure
Bread for Ci
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Aaron
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mary Christie
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Jonathan Fee
President
$0Pt VII · Sec A

Nowell Rush’s $1 as Director is at the 0th percentile of top reported officer pay among 128 <$100K philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Statement of Revenue

Part VIII
Contributions & grants$2K · 72%
Investment income$843 · 28%
Contributions & grants72%$2K
Investment income28%$843
Total revenueLn 12$3K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Management & general $1.00 Fundraising $0.00
Management & general100%$630K
Fundraising$220
Total functional expensesLn 25$630K

Balance Sheet

Part X · end of year
CashLn 1$553K
Total assetsLn 16$28.4M
Total liabilitiesLn 26$23.9M
Total net assetsLn 32$4.5M
Months of cash on handcomputed10.5

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $553K · Operating expenses/yr $630K
10.5 months
Where the money goes
Program services
Program services $0 · Total expenses $630K
0%
Management & General
Management & general $630K · Total expenses $630K
100%
Fundraising
Fundraising $220 · Total expenses $630K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $7K · Solicited contributions (3-yr avg) $298K
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2K · Total revenue $3K
72%
Government reliance
Government grants — · Total revenue $3K
—
Earned-income share
Program service revenue $0 · Total revenue $3K
0%
Investment reliance
Investment income $843 · Total revenue $3K
+28%
Program self-sufficiency
Program service revenue $0 · Total expenses $630K
0%
Growth & trend
Revenue growth (YoY)
This year $3K · Prior year $133K
-98%
Net-asset trend (YoY)
End of year $4.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3K · Expenses $630K
-20863%
Liabilities-to-Assets
Total liabilities — · Total assets $28.4M
—
Net-asset ratio
Net assets $4.5M · Total assets $28.4M
16%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $28.4M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual George Jones · Reported title BREAD FOR CI · Highest reported compensation $0 · Total expenses $630K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $630K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Overhead ratio 100%——
Fundraising cost ratio 10%——
Revenue growth -98%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Perkins Coie FoundationFY2024$8K
Total grants receivedfrom 1 funder$8K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$527 revenue · ⤓ 990 PDF
FY2023$3K revenue · viewing · ⤓ 990 PDF
FY2022$133K revenue · ⤓ 990 PDF
FY2021$762K revenue · ⤓ 990 PDF
FY2020$63K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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