Giving Closet Project

Analysis

Giving Closet Project is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 September 2023, Giving Closet Project reported income of $469k and spending of $499k, spending 106% of what it took in. Across the 2 years on record, from September 2022 to September 2023, income fell from $510k to $469k (-8.0%), an average of -8.0% a year. Over the whole period it spent 217% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Giving Closet Project sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 72nd percentile within FL. Charities of a similar size with the same main cause include Nycsalt Inc ($469k), Atlanta Charity Clays Inc ($469k) and Big Brothers Big Sisters of Greater Cleveland ($469k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $27k. At year end it held assets of $14k against liabilities of $0, net assets of $14k. It reported 1 employees.