Deposits Closet Inc

Analysis

Deposits Closet Inc is a registered charity in United States, based in Deposit, NY. It received its IRS tax-exemption ruling in December 2002, 24 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Deposits Closet Inc reported income of $139k and spending of $94k, leaving 33% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $119k to $139k (+17%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 85% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Deposits Closet Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 44th percentile within NY. Charities of a similar size with the same main cause include Marinwood Waterdevils Swim Team ($139k), Edmond Bulldog Youth Football Association ($139k) and Pascagoula Dixie Youth Baseball ($139k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. At year end it held assets of $280k against liabilities of $0, net assets of $280k.