As the largest food bank in Alabama we have always operated under the ethos that the impact of every donation and gift must be maximized. There is simply no room for inefficiency. As with most nonprofit entities we are involved in a year-round effort to offset operational costs.
Philanthropic support is rightfully associated with a fiduciary responsibility to ensure that every effort is being made to target the generosity entrusted to us to derive the greatest impact on its intended purpose. Recognizing this, continual process improvement is an MAFB standard deliberately woven into the fabric of quite literally everything we do. *Independent Audited Financials.
Our annual Management & General and Fundraising costs represent a mere 1.6% of our net value. In other words, 98.4% of our funding goes directly to support our mission. This figure is derived by an independent accountant using standard non-profit food bank bookkeeping practices, which include inventory valuations.
However, at MAFB we go a step further to provide a truly transparent evaluation of our commitment to efficiency. So, we always run the numbers again - this time without including inventory valuations. The results reported show MAFB still operates with just 15.8% of our net value (minus millions in inventory) going to Management
& General and Fundraising costs.
Regardless of which equation you use MAFB finances and transparency set the standard. GuideStar Exchange once again declared us to be a, “Gold Participant: This organization is aGold-level GuideStar Exchange participant, demonstrating its commitment to transparency.” In FY-14 MAFB also received the highest rating of 4 - Stars specifically for sound fiscal management and commitment to accountability and transparency from Charity Navigator.