LOVING HEARTS FOR CHRIST BEAR CLOSET

EIN: 301219976 501(c)(3) Human Services

Marion, NC

Total Revenue
$71,170
Total Expenses
$34,212
Total Assets
$41,278
Net Assets
$33,298
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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
2022
Legal Domicile
NC
Principal Officer
RICHARD A GORDON
Phone
8284134359
Tax Period
2024-01-01 to 2024-12-31

LOVING HEARTS FOR CHRIST BEAR CLOSET, founded in 2022, is a micro nonprofit in the Human Services sector that reported $71K in total revenue in fiscal year 2024. The organization ran a surplus of $37K, a strong 52% operating margin.

Mission

To enhance the quality of life for families with children in need by providing essential hygiene products, equipment, nutrition, and resources.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $65,895
Program Service Revenue $8,404
Investment Income $0
Other Revenue $-3,129
TOTAL REVENUE $71,170

Expense Breakdown

Grants Paid $11,106
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $34,212
Other Expenses $23,106
TOTAL EXPENSES $34,212

Year-over-Year Comparison

2024 2023 Change
Revenue $71,170 N/A N/A
Expenses $34,212 N/A N/A
Net Income $36,958 N/A N/A
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

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Governance

Voting Members
4
Independent Members
N/A
Employees
N/A
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
3
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Philista Gossett President 005.00
Director
$0 $0 $0
Jessica Swafford Vice President 005.00
Officer
$0 $0 $0
Danielle Gossett Secretary 005.00
Officer
$0 $0 $0
Arrick Gordon Treasurer 005.00
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 $71,170 $34,212 $41,278 $36,958
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