Joses Closet Inc

Analysis

Joses Closet Inc is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in October 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending January 2024, Joses Closet Inc reported income of $173k and spending of $249k, spending 144% of what it took in. Across the 3 years on record, from January 2022 to January 2024, income grew from $157k to $173k (+10%), an average of +5.1% a year. The sharpest change came in the year to January 2023, when income rose by 51%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Joses Closet Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within AZ. Charities of a similar size with the same main cause include Zanesville Daybreak Rotary Foundation Inc ($173k), Helping Hands Food Pantry Inc ($173k) and American Beiyinu Alumnae Foundation ($173k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $54k. At year end it held assets of $205k against liabilities of $0, net assets of $205k. It reported 4 employees.