Bargains Galore Thrift Store

Analysis

Bargains Galore Thrift Store is a registered charity in United States, based in Mount Vernon, WA. It received its IRS tax-exemption ruling in January 1996, 30 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 September 2023, Bargains Galore Thrift Store reported income of $1.1m and spending of $1.0m, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $780k to $1.1m (+41%), an average of +9.0% a year. The sharpest change came in the year to September 2021, when income rose by 78%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bargains Galore Thrift Store 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 80th percentile, and in the 80th percentile within WA. Charities of a similar size with the same main cause include Another Round Another Rally ($1.1m), Keys Area Interdenominational Resources ($1.1m) and Helping All Victims in Need Havin ($1.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $57k (5.7% of expenses). Other salaries and wages came to $474k. At year end it held assets of $1.7m against liabilities of $722k, net assets of $989k. It reported 38 employees.