Taylors Closet Foundation Inc
- Assets
- $70.8k
- Revenue
- $186.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Fort Lauderdale, FL
- Founding
- 06/2007
- Data as of
- 12/2022
- EIN
- 77-0667869
Organization Overview
Taylors Closet Foundation Inc is located in Fort Lauderdale, FL. The organization was established in 2007. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 12/2022, Taylors Closet Foundation Inc employed 2 individuals. This organization is the central organization for a national or regional group of organizations. Taylors Closet Foundation 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 12/2022, Taylors Closet Foundation Inc generated $186.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.8%) each year. All expenses for the organization totaled $218.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TAYLOR'S CLOSET EXISTS TO BRING LOVE AND HOPE TO TEENAGE GIRLS SO THEY WILL FULLY UNDERSTAND THEIR WORTH, KNOW THEIR VALUE, AND REALIZE THEIR GOD GIVEN DESTINY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, THE BLOOM PROGRAM CONSISTED OF THE FOLLOWING ACTIVITIES: 1) BLOOM AT HOME - AN ONLINE PLATFORM THAT ENCOURAGES AND UPLIFTS GIRLS, PLUS WEEKLY INSPIRING MESSAGES SENT DIRECTLY TO THEIR PHONES. APPROXIMATELY 100 GIRLS AND YOUNG WOMEN BENEFITTED ON A WEEKLY BASIS. 2) BLOOM IN A BOX - CARE PACKAGES ARE SENT QUARTERLY TO THE GIRLS, PROMPTING THEM TO FEEL CREATIVE, LOVED AND INSPIRED. PACKAGES WERE SENT BENEFITTING APPROXIMATELY 100 GIRLS AND YOUNG WOMEN EACH SHIPMENT. 3) BLOOM SCHOLARSHIP - SUPPORTS BIPOC GIRLS GRADUATING HIGH SCHOOL IN SOUTH FLORIDA AND PAST BLOOM ALUMNI THROUGH AN ANNUAL SCHOLARSHIP FUND AND MENTORSHIP PROGRAM. SCHOLARSHIPS OF 30,647 WERE AWARDED BENEFITTING 12 YOUNG WOMEN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Giambattista Director | Trustee | 40 | $77,000 |
Lindsay Giambattista Creative Dir | Trustee | 40 | $59,000 |
Lee Armfield Board Member | Trustee | 2 | $0 |
Pike Rowley Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $48,737 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $137,715 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $186,452 |
| Total Program Service Revenue | $0 |
| Investment income | $463 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $186,915 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,647 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $136,000 |
| Compensation of current officers, directors, key employees. | $17,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,649 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,745 |
| Advertising and promotion | $1,159 |
| Office expenses | $407 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $482 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $218,178 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,834 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $70,834 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $460 |
| Total liabilities | $460 |
| Net assets without donor restrictions | $70,374 |
| Net assets with donor restrictions | $0 |
| 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 | $70,834 |
Grants Awarded
Over the last fiscal year, Taylors Closet Foundation Inc has awarded $19,650 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FOOD FOR THE POOR PURPOSE: TO PROVIDE CLOTHING | $12,340 |
ALL OTHER PURPOSE: TO PROVIDE CLOTHING | $7,310 |