Out My Closet Inc

Analysis

Out My Closet Inc is a registered charity in United States, based in Bellerose, NY. It received its IRS tax-exemption ruling in June 2015, 11 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, Out My Closet Inc reported income of $129k and spending of $115k, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $77k to $129k (+67%), an average of +67% a year. The sharpest change came in the year to December 2023, when income rose by 67%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Out My Closet Inc sits at the 39th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 42nd percentile within NY. Charities of a similar size with the same main cause include Lamia Afghan Foundation Inc ($129k), Colorado Farm Bureau Foundation ($129k) and Foley Voa Living Center Inc ($129k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $12k against liabilities of $0, net assets of $12k.