Caties Closet Inc
- Assets
- $4.6m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 22
- Location
- Dracut, MA
- Founding
- 03/2011
- Data as of
- 12/2021
- EIN
- 27-2531953
Organization Overview
Caties Closet Inc is located in Dracut, MA. The organization was established in 2011. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2021, Caties Closet Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caties Closet Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Caties Closet Inc generated $8.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $7.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
REFER TO SCHEDULE O, PAGE 44CATIE'S CLOSET IMPROVES STUDENTS' SCHOOL ATTENDANCE, EMOTIONAL WELL-BEING, GRADE PROGRESSION AND ULTIMATELY, GRADUATION RATES BY PROVIDING IN-SCHOOL ACCESS TO CLOTHING AND BASIC NECESSITIES TO STUDENTS WHO ARE HOMELESS, LIVING IN POVERTY OR LOW INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AN IN-SCHOOL RESOURCE OF CLOTHING AND BASIC NECESSITIES TO STUDENTS LIVING BELOW THE POVERTY LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynne Baril Vice Chair | OfficerTrustee | 2 | $0 |
Anne-Marie Sousa President | OfficerTrustee | 5 | $0 |
Rebecca Gilding Secretary | OfficerTrustee | 2 | $0 |
Laura Bisson Treasurer | OfficerTrustee | 2 | $0 |
Krista Guaraldi Director | Trustee | 2 | $0 |
Robin Seidman Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $121,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,663,102 |
| Noncash contributions included in lines 1a–1f | $6,475,631 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,784,302 |
| Total Program Service Revenue | $0 |
| Investment income | $2,494 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $178,214 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,342,538 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,489 |
| Compensation of current officers, directors, key employees. | $5,274 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $588,712 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,183 |
| Payroll taxes | $65,598 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,735 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $51,251 |
| Advertising and promotion | $73,984 |
| Office expenses | $101,291 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $215,969 |
| Travel | $498 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $389 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,426 |
| Insurance | $23,456 |
| All other expenses | $16,769 |
| Total functional expenses | $7,808,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $159,711 |
| Savings and temporary cash investments | $894,807 |
| Pledges and grants receivable | $10,000 |
| Accounts receivable, net | $154,068 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,243,883 |
| Prepaid expenses and deferred charges | $33,697 |
| Net Land, buildings, and equipment | $55,915 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,000 |
| Total assets | $4,577,081 |
| Accounts payable and accrued expenses | $20,414 |
| Grants payable | $0 |
| Deferred revenue | $45,250 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,190 |
| Total liabilities | $89,854 |
| Net assets without donor restrictions | $4,217,227 |
| Net assets with donor restrictions | $270,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,577,081 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Caties Closet Inc has recieved totaling $352,186.
| Awarding Organization | Amount |
|---|---|
Greater Lowell Community Foundation Inc Lowell, MA PURPOSE: GENERAL SUPPORT | $58,500 |
Oneworld Boston Inc Woburn, MA PURPOSE: COMMUNITY WELFARE PROGRAM | $51,000 |
Essex County Community Foundation Incorporated Danvers, MA | | $50,000 |
Cabot Family Charitable Tr Boston, MA PURPOSE: EXEMPT PURPOSES | $30,000 |
Liberty Mutual Foundation Inc Boston, MA PURPOSE: CATIE'S CLOSET: BOSTON PUBLIC SCHOOLS EXPANSION | $30,000 |
Dcu For Kids Marlborough, MA PURPOSE: Charitable | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Springfield Rescue Mission Inc Springfield, MA | $3,518,136 | $17,540,773 |
Good Plus Foundation Inc New York, NY | $6,013,741 | $13,844,054 |
Ocean State Job Lot Charitable Foundation North Kingstown, RI | $5,018,116 | $7,935,020 |
Greg Hill Foundation Woburn, MA | $6,630,527 | $13,875,487 |
Caties Closet Inc Dracut, MA | $4,577,081 | $8,342,538 |
My Brothers Keeper Inc South Easton, MA | $7,204,366 | $7,147,768 |
Afya Foundation Inc Yonkers, NY | $5,777,434 | $5,238,210 |
Friendly House Inc Worcester, MA | $3,296,125 | $6,043,839 |
Rhode Island Rescue Ministries Providence, RI | $741,664 | $4,494,936 |
National Basketball Players Assoc Foundation New York, NY | $40,266,235 | $3,599,833 |
Bridge Fund Of New York Inc New York, NY | $5,307,792 | $4,504,357 |
Blue Card Inc New York, NY | $3,666,772 | $3,534,542 |