Red Hat Thrift Store

Analysis

Red Hat Thrift Store is a registered charity in United States, based in Longview, WA. It received its IRS tax-exemption ruling in March 2007, 19 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 June 2024, Red Hat Thrift Store reported income of $457k and spending of $462k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $320k to $457k (+43%), an average of +9.3% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Red Hat Thrift Store sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within WA. Charities of a similar size with the same main cause include Darkhorse Benefits Inc ($457k), Gullah Geechee Chamber Foundation Inc ($457k) and Legacy Ministries ($457k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Other salaries and wages came to $195k. At year end it held assets of $85k against liabilities of $28k, net assets of $57k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.