Veterans Community Thrift Store

Analysis

Veterans Community Thrift Store is a registered charity in United States, based in Hibbing, MN. It received its IRS tax-exemption ruling in November 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Veterans Community Thrift Store reported income of $455k and spending of $315k, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $409k to $455k (+11%), an average of +2.7% a year. The sharpest change came in the year to December 2023, when income rose by 66%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Veterans Community Thrift Store sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MN. Charities of a similar size with the same main cause include Boys Haven of America Inc ($455k), Open Door of Delta ($455k) and Chesapeake Voyagers Inc ($455k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Other salaries and wages came to $175k. At year end it held assets of $711k against liabilities of $4,997, net assets of $706k. It reported 31 employees.