Bottomless Closet

Analysis

Bottomless Closet is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bottomless Closet reported income of $1.7m and spending of $1.3m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.7m (+19%), an average of +4.5% a year. The sharpest change came in the year to December 2023, when income rose by 51%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bottomless Closet sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Childrens Home Association of Illinois ($1.7m), Frankfort Township Charities ($1.7m) and Agape Childrens Ministry Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% of the total. Compensation of current officers, directors and key employees was $214k (16% of expenses). Other salaries and wages came to $480k. At year end it held assets of $3.6m against liabilities of $1.5m, net assets of $2.1m. It reported 9 employees.