Cheaper by the Pound-Helping Closet

Analysis

Cheaper by the Pound-Helping Closet is a registered charity in United States, based in Sun Valley, CA. It received its IRS tax-exemption ruling in January 2022, 4 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 2022, Cheaper by the Pound-Helping Closet reported income of $100k and spending of $100k, spending 100% of its income. Across the 5 years on record, from December 2017 to December 2022, income fell from $400k to $100k (-75%), an average of -29% a year. The sharpest change came in the year to December 2021, when income rose by 225%. Over the whole period it spent 63% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cheaper by the Pound-Helping Closet sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 39th percentile within CA. Charities of a similar size with the same main cause include Rekhi Foundation for Happiness ($100k), Vansi Family Charitable Foundation Inc ($100k) and Christmas Cheer Inc ($100k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $30k. At year end it held assets of $500k against liabilities of $500k, net assets of $0.