Caties Closet Inc

Analysis

Caties Closet Inc is a registered charity in United States, based in Dracut, MA. It received its IRS tax-exemption ruling in March 2011, 15 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, Caties Closet Inc reported income of $8.1m and spending of $8.5m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.6m to $8.1m (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2020, when income rose by 21%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Caties Closet Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Nazareth House of San Diego Inc ($8.1m), Community Options Inc ($8.1m) and Community Coordinated Child Care Inc ($8.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $113k (1.3% of expenses). Other salaries and wages came to $769k. At year end it held assets of $8.1m against liabilities of $3.6m, net assets of $4.5m. It reported 29 employees.