Student Clothing Bank

Analysis

Student Clothing Bank is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in July 2014, 12 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 June 2023, Student Clothing Bank reported income of $631k and spending of $581k, spending 92% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $258k to $631k (+144%), an average of +56% a year. The sharpest change came in the year to June 2022, when income rose by 90%. Over the whole period it spent 78% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Student Clothing Bank sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 72nd percentile within NM. Charities of a similar size with the same main cause include Operation Triage ($631k), United Polish American Social Services Inc ($631k) and Think Tank Inc ($631k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $194k. At year end it held assets of $395k against liabilities of $294, net assets of $394k. It reported 21 employees.