The Giving Closet

Analysis

The Giving Closet is a registered charity in United States, based in Vancouver, WA. 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, The Giving Closet reported income of $271k and spending of $230k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $268k to $271k (+1.2%), an average of +0.3% a year. The sharpest change came in the year to December 2020, when income rose by 28%. 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, The Giving Closet sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within WA. Charities of a similar size with the same main cause include Pottstown Beacon of Hope ($271k), New Life Community Outreach ($271k) and Refugeeconnect ($271k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $39k (17% of expenses). Other salaries and wages came to $115k. At year end it held assets of $258k against liabilities of $2,603, net assets of $256k. It reported 5 employees.