Clothing Bank of Norwalk Ohio

Analysis

Clothing Bank of Norwalk Ohio is a registered charity in United States, based in Norwalk, OH. It received its IRS tax-exemption ruling in December 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 December 2023, Clothing Bank of Norwalk Ohio reported income of $575k and spending of $534k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $447k to $575k (+29%), an average of +6.5% a year. The sharpest change came in the year to December 2021, when income rose by 287%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Clothing Bank of Norwalk Ohio sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within OH. Charities of a similar size with the same main cause include Million Meal Movement Inc ($575k), Pride in Learning Montessori Lake Merritt ($576k) and Cobblestone Project ($575k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% of the total. At year end it held assets of $139k against liabilities of $0, net assets of $139k.