Second Source Thrift Store

Analysis

Second Source Thrift Store is a registered charity in United States, based in Jefferson Cty, TN. 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 December 2023, Second Source Thrift Store reported income of $685k and spending of $651k, spending 95% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $342k to $685k (+100%), an average of +26% a year. The sharpest change came in the year to December 2022, when income rose by 40%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Second Source Thrift Store sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within TN. Charities of a similar size with the same main cause include Ezer Leyisroel Inc ($685k), The Champions Center ($685k) and Kids Outdoors Zone Inc ($685k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.5% of the total. Other salaries and wages came to $439k. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m. It reported 48 employees.