Clothes Closet Inc

Analysis

Clothes Closet Inc is a registered charity in United States, based in LK Havasu Cty, AZ. It received its IRS tax-exemption ruling in December 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 December 2023, Clothes Closet Inc reported income of $219k and spending of $102k, leaving 53% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $292k to $219k (-25%), an average of -14% a year. The sharpest change came in the year to December 2023, when income rose by 120%. Over the whole period it spent 32% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Clothes Closet Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within AZ. Charities of a similar size with the same main cause include Spring Hollow Community Learning Center ($219k), Hill Country Council on Alcohol & Drug Abuse Inc ($219k) and Selahs Center of Hope Inc ($219k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Other salaries and wages came to $28k. At year end it held assets of $421k against liabilities of $2,971, net assets of $418k. It reported 1 employees.