Red Hat Thrift Store

Red Hat Thrift Store consistently operates near break-even with no officer compensation.

EIN: 204476957 · Longview, WA · NTEE: P29 · Updated: 2026-03-28

$433KRevenue

$75KAssets

92/100Mission Score (Excellent)

P29

About Red Hat Thrift Store

Red Hat Thrift Store (EIN: 204476957) is a nonprofit organization based in Longview, WA, classified under NTEE code P29. The organization reported total revenue of $433K and total assets of $75K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Red Hat Thrift Store's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Red Hat Thrift Store demonstrates consistent financial operations, with revenues closely matching expenses over the past several years. For instance, in the 202406 period, revenue was $457,037 against expenses of $462,045, indicating a near break-even operation. This pattern suggests a focus on covering operational costs rather than accumulating significant surpluses. The organization's assets have shown modest growth, from $57,783 in 201506 to $84,646 in 202406, indicating stable, albeit limited, financial reserves. The consistent reporting of 0% officer compensation across all filings is a strong indicator of financial transparency and a commitment to directing funds towards the organization's mission, rather than executive salaries. This practice is particularly commendable for an organization of its size, with annual revenues consistently in the mid-hundreds of thousands.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Red Hat Thrift Store 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: 7%
programs: 90%
fundraising: 3%

According to IRS 990 filings, Red Hat Thrift Store allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is a highly positive financial practice for an organization with annual revenues ranging from $246,472 to $481,278, demonstrating a strong commitment to mission over executive pay.

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 Red Hat Thrift Store:

Consistent 0% officer compensation across all filings, indicating strong financial ethics.
Operations consistently near break-even, suggesting efficient resource allocation.
Stable revenue growth over the past decade, demonstrating sustained community support.
Low liabilities relative to assets, indicating a healthy financial position.

Frequently Asked Questions about Red Hat Thrift Store

Is Red Hat Thrift Store a good charity?

Based on the provided financial data, Red Hat Thrift Store appears to be a well-managed charity. It consistently operates near break-even, indicating efficient use of funds, and reports 0% officer compensation, which is a strong positive for transparency and mission focus.

How has Red Hat Thrift Store's revenue trended over time?

Red Hat Thrift Store's revenue has shown a general upward trend over the past decade, increasing from $246,472 in 201506 to $457,037 in 202406, with some fluctuations, such as a dip in 202006 to $320,248.

What is the organization's financial stability?

The organization demonstrates stable financial health, consistently managing expenses to align with revenues. While assets are modest ($84,646 in 202406), the low liabilities ($27,621 in 202406) suggest a healthy balance sheet and no significant debt burden.

Filing History

IRS 990 filing history for Red Hat Thrift Store showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2012–2024), Red Hat Thrift Store's revenue has grown by 54.4%, moving from $296K to $457K. Total assets increased by 34.8% over the same period, from $63K to $85K. Total functional expenses rose by 49.7%, from $309K to $462K. In its most recent filing year (2024), Red Hat Thrift Store reported a deficit of $5K, with expenses exceeding revenue. The organization holds $28K in liabilities against $85K in assets (debt-to-asset ratio: 32.6%), resulting in net assets of $57K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$457K	$462K	$85K	$28K	—	—
2023	$472K	$472K	$88K	$26K	—	View 990
2022	$451K	$473K	$85K	$23K	—	View 990
2021	$481K	$477K	$109K	$26K	—	View 990
2020	$320K	$320K	$93K	$7K	—	View 990
2019	$388K	$359K	$88K	$2K	—	View 990
2018	$349K	$345K	$59K	$2K	—	View 990
2017	$285K	$296K	$56K	$3K	—	View 990
2016	$263K	$257K	$64K	$2K	—	View 990
2015	$246K	$247K	$58K	$1K	—	View 990
2014	$253K	$246K	$59K	$1K	—	View 990
2013	$265K	$272K	$51K	$1K	—	View 990
2012	$296K	$309K	$63K	$6K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $457K, expenses of $462K, and assets of $85K (revenue -3.2% year-over-year).
2023: Revenue of $472K, expenses of $472K, and assets of $88K (revenue +4.7% year-over-year).
2022: Revenue of $451K, expenses of $473K, and assets of $85K (revenue -6.2% year-over-year).
2021: Revenue of $481K, expenses of $477K, and assets of $109K (revenue +50.3% year-over-year).
2020: Revenue of $320K, expenses of $320K, and assets of $93K (revenue -17.5% year-over-year).
2019: Revenue of $388K, expenses of $359K, and assets of $88K (revenue +11.2% year-over-year).
2018: Revenue of $349K, expenses of $345K, and assets of $59K (revenue +22.5% year-over-year).
2017: Revenue of $285K, expenses of $296K, and assets of $56K (revenue +8.5% year-over-year).
2016: Revenue of $263K, expenses of $257K, and assets of $64K (revenue +6.6% year-over-year).
2015: Revenue of $246K, expenses of $247K, and assets of $58K (revenue -2.6% year-over-year).
2014: Revenue of $253K, expenses of $246K, and assets of $59K (revenue -4.6% year-over-year).
2013: Revenue of $265K, expenses of $272K, and assets of $51K (revenue -10.4% year-over-year).
2012: Revenue of $296K, expenses of $309K, and assets of $63K.

Data Sources and Methodology

This transparency report for Red Hat Thrift Store 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.