S O S Thrift Store

Analysis

S O S Thrift Store is a registered charity in United States, based in Storm Lake, IA. It received its IRS tax-exemption ruling in September 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. 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, S O S Thrift Store reported income of $162k and spending of $179k, spending 111% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $142k to $162k (+14%), an average of +3.4% a year. The sharpest change came in the year to June 2022, when income rose by 98%. Over the whole period it spent 111% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, S O S Thrift Store sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within IA. Charities of a similar size with the same main cause include Mountain Phoenix Community School Foundation ($162k), Morris Plains Library Association ($162k) and JJ Pearce Theater Booster Club ($162k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $253k against liabilities of $0, net assets of $253k.

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.