Mercys Closet Inc

Analysis

Mercys Closet Inc is a registered charity in United States, based in Minden, LA. It received its IRS tax-exemption ruling in October 2019, 7 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, Mercys Closet Inc reported income of $545k and spending of $489k, spending 90% of its income. Across the 2 years on record, from December 2021 to December 2022, income grew from $325k to $545k (+68%), an average of +68% a year. The sharpest change came in the year to December 2022, when income rose by 68%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mercys Closet Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within LA. Charities of a similar size with the same main cause include Bigfork Food Bank Inc ($545k), Casa of Wyoming County ($545k) and Center for Family Services ($545k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 54% and program service revenue 46% of the total. Other salaries and wages came to $129k. At year end it held assets of $322k against liabilities of $3,057, net assets of $319k. It reported 16 employees.