Community Closet Inc

Analysis

Community Closet Inc is a registered charity in United States, based in Livingston, MT. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Community Closet Inc reported income of $1.2m and spending of $897k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $666k to $1.2m (+87%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 49%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Community Closet Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within MT. Charities of a similar size with the same main cause include West Alabama Works Inc ($1.2m), Narika ($1.2m) and Black Researchers Collective ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% of the total. Compensation of current officers, directors and key employees was $79k (8.8% of expenses). Other salaries and wages came to $415k. At year end it held assets of $988k against liabilities of $2,003, net assets of $986k. It reported 31 employees.