Community Closet Inc

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Community Closet Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Community Closet Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Community Closet Inc in one place.

Is Community Closet Inc Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Community Closet Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Community Closet Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Community Closet Inc

Community Closet Inc (EIN: 203477522) is a nonprofit organization based in Livingston, MT, classified under NTEE code J32. The organization reported total revenue of $1.3M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Community Closet Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Community Closet Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 17.4%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Community Closet Inc reported a surplus of $346K with revenue exceeding expenses, holds 13.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), Community Closet Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.4%.

IRS Tax-Exempt Classification

Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Community Closet Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 10%
• programs: 85%
• fundraising: 5%

According to IRS 990 filings, Community Closet Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $346K, with revenue exceeding expenses.
• Debt-to-asset ratio: 0.2%.

Executive Compensation Analysis

Community Closet Inc reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly unusual for an organization of its size and revenue, suggesting a volunteer-led or very lean leadership structure.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Strengths

The following positive indicators were identified for Community Closet Inc:

• Consistent and significant revenue growth, from $256,558 in 2014 to $1,243,173 in 2023.
• Strong financial surpluses, with revenue consistently exceeding expenses (e.g., $1,243,173 revenue vs. $897,011 expenses in 2023).
• Healthy and growing asset base, increasing from $204,507 in 2014 to $987,636 in 2023.
• Extremely low liabilities, often under $2,000 in recent years, indicating minimal debt.
• 0% reported officer compensation across all filings, suggesting a highly efficient and mission-focused leadership.

Frequently Asked Questions about Community Closet Inc

Filing History

IRS 990 filing history for Community Closet Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Community Closet Inc's revenue has grown by 588.6%, moving from $181K to $1.2M. Total assets increased by 854.7% over the same period, from $103K to $988K. Total functional expenses rose by 417.6%, from $173K to $897K. In its most recent filing year (2023), Community Closet Inc reported a surplus of $346K, with revenue exceeding expenses. The organization holds $2K in liabilities against $988K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $986K.

Year-by-Year Financial Summary

• 2023: Revenue of $1.2M, expenses of $897K, and assets of $988K (revenue +37.3% year-over-year).
• 2022: Revenue of $905K, expenses of $761K, and assets of $641K (revenue +4.7% year-over-year).
• 2021: Revenue of $865K, expenses of $620K, and assets of $496K (revenue +49.4% year-over-year).
• 2020: Revenue of $579K, expenses of $560K, and assets of $341K (revenue -13.1% year-over-year).
• 2019: Revenue of $666K, expenses of $612K, and assets of $324K (revenue +11.7% year-over-year).
• 2018: Revenue of $596K, expenses of $563K, and assets of $266K (revenue +12.6% year-over-year).
• 2017: Revenue of $529K, expenses of $518K, and assets of $236K (revenue +8.5% year-over-year).
• 2016: Revenue of $488K, expenses of $474K, and assets of $227K (revenue +66.2% year-over-year).
• 2015: Revenue of $294K, expenses of $278K, and assets of $217K (revenue +14.4% year-over-year).
• 2014: Revenue of $257K, expenses of $259K, and assets of $205K (revenue +3.6% year-over-year).
• 2013: Revenue of $248K, expenses of $245K, and assets of $104K (revenue +10.1% year-over-year).
• 2012: Revenue of $225K, expenses of $226K, and assets of $101K (revenue +24.5% year-over-year).
• 2011: Revenue of $181K, expenses of $173K, and assets of $103K.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Community Closet Inc:

Data Sources and Methodology

This transparency report for Community Closet Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.