KIDS CLOSET OF DULUTH (EIN 201878745) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

Charlotte Kerelko

Phone

2187224533

Tax Period

2024-07-01 to 2025-06-30

KIDS CLOSET OF DULUTH, founded in 2004, is a micro nonprofit in the Human Services sector that reported $74K in total revenue in fiscal year 2024. Expenses of $64K left a modest 13% surplus.

Mission

Provision of free school clothing and outerwear for low income preschool and elementary Duluth students referred by their school as being in need of this service.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $73,907

Program Service Revenue $0

Investment Income $17

Other Revenue $0

TOTAL REVENUE $73,924

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,594

Fundraising Expenses $0

Program Expenses $60,068

Other Expenses $51,641

TOTAL EXPENSES $64,235

Year-over-Year Comparison

	2024	2023	Change
Revenue	$73,924	$68,879	+0.1%
Expenses	$64,235	$79,387	-0.2%
Net Income	$9,689	$-10,508	-1.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Charlotte Kerelko	President and Coordinator	20	Director	$0	$0	$0
Denise Nord	Vice President	2	Director	$0	$0	$0
Kay Doyle	Secretary	3	Director	$0	$0	$0
Mary Ann Quackenbush	Treasurer	10	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$73,924	$64,235	$69,909	$9,689
2024	$68,879	$79,387	$64,220	$-10,508
2023	$75,105	$69,741	$68,728	$5,364
2022	$90,530	$90,907	$65,364	$-377
2022	$90,530	$90,907	$65,364	$-377
2021	$88,764	$74,741	$65,741	$14,023

KIDS CLOSET OF DULUTH