My Sisters Closet Inc

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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

2014

Legal Domicile

Principal Officer

Anna M Stanfield

Phone

2022707174

Tax Period

2022-05-01 to 2023-04-30

My Sisters Closet Inc, founded in 2014, is a micro nonprofit in the Human Services sector that reported $21K in total revenue in fiscal year 2022. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $25K exceeded revenue, resulting in a 18% operating deficit.

Mission

My Sisters Closet provides career coaching, professional development training and free professional clothing to women in need.

Program Service Accomplishments

Program 1

Expenses: $17,584 Revenue: $0

The Work Development Program for the Women's Shelter - A dynamic initiative designed to empower shelter residents with the skills, resources, and confidence necessary to secure meaningful employment and achieve economic independence. By providing comprehensive job readiness training, career counseling, and job placement support, the program aims to break down barriers to employment and equip women with the resources they need for long-term success.

Program 2

Expenses: $4,396 Revenue: $0

Professional Development Program - Conducted for the Future Innovative Rising Engineers and Entrepreneurs STEM Program, a chapter of the National Society of Black Engineers (NSBE). The program...

Professional Development Program - Conducted for the Future Innovative Rising Engineers and Entrepreneurs STEM Program, a chapter of the National Society of Black Engineers (NSBE). The program covered branding, skills assessment, job announcement analysis, resume review and interview skills for high school students

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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 (2022)

Revenue Breakdown

Contributions & Grants $21,441

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $21,441

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $936

Program Expenses $21,980

Other Expenses $25,383

TOTAL EXPENSES $25,383

Year-over-Year Comparison

	2022	2021	Change
Revenue	$21,441	$28,257	-0.2%
Expenses	$25,383	$13,942	+0.8%
Net Income	$-3,942	$14,315	-1.3%

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

N/A

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
Anna M Stanfield	Chairman/Founder	5.00	Officer Director	$0	$0	$0
Jody Mitchell	Director	2.00	Director	$0	$0	$0
Rosita Banks-Taylor	Treasurer	2.00	Director	$0	$0	$0
Rudo Maven	Director	2.00	Director	$0	$0	$0
Geralyn Goins	Director	2.00	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
2024	No data	No data	No data	No data
2023	$21,441	$25,383	$25,413	$-3,942
2023	$15,986	$14,294	$27,105	$1,692
2022	$28,257	$13,942	$29,355	$14,315
2021	$20,080	$15,332	$15,040	$4,748