The Giving Closet (EIN 273207322) - 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

2010

Legal Domicile

Principal Officer

DENISE CURRIE

Phone

3609934800

Tax Period

2024-01-01 to 2024-12-31

The Giving Closet, founded in 2010, is a small nonprofit in the Human Services sector that reported $361K in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $135K, a strong 37% operating margin.

Mission

PROVIDE: GOODS AND SERVICES TO FAMILIES AND INDIVIDUALS WHO ARE IN FINANCIAL DISTRESS RESIDING IN VANCOUVER, WA AND SURROUNDING AREAS. FINANCIAL DISTRESS AND NEED IS DETERMINED BY FOLLOWING THE CURRENT WA STAT EGUIDELINES FOR POVERTY. THESE GOODS AND SERVICES WILL INCLUDE, BUT NOT BE LIMITED TO, CLOTHING, HOUSEHOLD ITEMS, TEMPORARY DAY SHELTER, TUTORING, LITERACY SERVICES, COUNSELING, EMOTIONAL AND SPIRITUAL SUPPORT.TO: REFER CLIENTS TO ORGANIZATIONS AND SERVICES, THAT CAN ADDRESS NEEDS AND ISSUES THE ORGANIZATION, OR TIS RELATED PROGRAMS ARE NOT PREPARED TO PROVIDETO: ENCOURAGE COMMUNITY PARTICIPATION AS TO VOLUNTEERS AND DONORS OF MATERIAL GOODS, SERVICES, AND MONETARY FUNDING.

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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 $360,556

Program Service Revenue $0

Investment Income $113

Other Revenue $0

TOTAL REVENUE $360,669

Expense Breakdown

Grants Paid $0

Salaries & Benefits $159,090

Fundraising Expenses $47,500

Program Expenses $98,718

Other Expenses $66,582

TOTAL EXPENSES $225,672

Year-over-Year Comparison

	2024	2023	Change
Revenue	$360,669	$270,755	+0.3%
Expenses	$225,672	$229,815	0.0%
Net Income	$134,997	$40,940	+2.3%

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

N/A

Employees

Volunteers

N/A

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

$45,000

Total Directors

$45,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DENISE CURRIE	Executive Dir.	40.00	Officer Director	$45,000	$0	$45,000
MaryAnn Raymond	President	3.00	Officer	$0	$0	$0
Jessica Hinchliff	Treasurer	3.00	Officer	$0	$0	$0
Jen Choate	Secretary	3.00	Officer	$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	$360,669	$225,672	$393,166	$134,997
2023	$270,755	$229,815	$258,437	$40,940
2022	$338,504	$357,209	$216,984	$-18,705
2021	$341,817	$342,826	$239,833	$-1,009
2020	$341,568	$295,386	$270,661	$46,182
2020	$316,336	$298,205	$268,299	$18,131
2019	$267,632	$243,647	$220,210	$23,985

The Giving Closet