Taylors Closet Foundation Inc

Analysis

Taylors Closet Foundation Inc is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in June 2007, 19 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, Taylors Closet Foundation Inc reported income of $143k and spending of $181k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $343k to $143k (-58%), an average of -20% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 120% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Taylors Closet Foundation Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 50th percentile within FL. Charities of a similar size with the same main cause include Go Com Devel Corp ($143k), Numana Inc ($143k) and Emmetsburg Education Center Inc ($143k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $93k (51% of expenses). At year end it held assets of $47k against liabilities of $14k, net assets of $33k. It reported 2 employees.