Closet Inc
- Assets
- $90.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Boise, ID
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 81-3081944
Organization Overview
Closet Inc is located in Boise, ID. The organization was established in 2016. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 12/2022, Closet Inc generated $66.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $69.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROVIDING FREE CLOTHES TO TEENS IN NEED BY PROVIDING A STOREFRONT AND PERSONALIZED SHOPPING EXPERIENCE THAT ALLOWS EACH TEEN TO LEAVE WITH 12 NEW/GENTLY USED ITEMS, INCLUDING 2 PAIRS OF SHOES! THE CLOSET SERVED 927 TEENS IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Mcmurry President | 30 | $24,000 | |
Matthew Mcmurry Secretary | 2 | $0 | |
Karyn Mckinney Treasurer | 1 | $0 | |
Shawn Schniker Director | 1 | $0 | |
Cathy Wright Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $66,784 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $33 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $66,817 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $25,836 |
| Professional fees and other payments to independent contractors | $480 |
| Occupancy, rent, utilities, and maintenance | $28,387 |
| Printing, publications, postage, and shipping | $426 |
| Other expenses | $13,910 |
| Total expenses | $69,039 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $85,614 |
| Other assets | $0 |
| Total assets | $90,772 |
| Total liabilities | $651 |
| Net assets or fund balances | $90,121 |