Depot Outlet Inc

Analysis

Depot Outlet Inc is a registered charity in United States, based in Decorah, IA. It received its IRS tax-exemption ruling in November 1974, 52 years ago. 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 December 2023, Depot Outlet Inc reported income of $2.1m and spending of $2.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.1m (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Depot Outlet Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within IA. Charities of a similar size with the same main cause include Massachusetts Downs Syndrome Congress Inc ($2.1m), Habitat for Humanity International Inc ($2.1m) and Wish for Our Heroes Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $51k (2.5% of expenses). Other salaries and wages came to $465k. At year end it held assets of $2.4m against liabilities of $369k, net assets of $2.0m. It reported 33 employees.