HOPE'S CLOSET INC (EIN 473922125) - 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

2017

Legal Domicile

Principal Officer

BILL MORRISON

Phone

5138604673

Tax Period

2023-09-01 to 2024-08-31

HOPE'S CLOSET INC, founded in 2017, is a small nonprofit in the Human Services sector that reported $529K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

HOPE'S CLOSET IS A FOSTER CARE SUPPORT ORGANIZATION THAT PROVIDES CRITICAL SERVICES THROUGH CLOTHING BOUTIQUE, TRAINING CLASSES, SUPPORT GROUPS, FAMILY EVENTS, AND RECRUITMENT OF FOSTER PARENTS

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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 (2023)

Revenue Breakdown

Contributions & Grants $434,073

Program Service Revenue $0

Investment Income $7,699

Other Revenue $87,593

TOTAL REVENUE $529,365

Expense Breakdown

Grants Paid $0

Salaries & Benefits $226,698

Fundraising Expenses $17,214

Program Expenses $374,690

Other Expenses $308,526

TOTAL EXPENSES $535,224

Year-over-Year Comparison

	2023	2022	Change
Revenue	$529,365	$474,090	+0.1%
Expenses	$535,224	$469,668	+0.1%
Net Income	$-5,859	$4,422	-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

Employees

Volunteers

300

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

$71,624

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK PHAIR	FORMER EXEC	40.00	Officer	$71,624	$0	$71,624
LAURA CLARK	BOARD MEMBER	1.00	Director	$0	$0	$0
EMILY CURRY	BOARD MEMBER	1.00	Director	$0	$0	$0
CAMILLE ENDAYA	BOARD MEMBER	1.00	Director	$0	$0	$0
LAURIE MOHER	BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS SPRING	BOARD MEMBER	1.00	Director	$0	$0	$0
RICK VOGSBERGER	BOARD MEMBER	1.00	Director	$0	$0	$0
RYAN CRAIG	EXECUTIVE DI	40.00	Officer	$0	$0	$0
JHOANNA EDJAN	BOARD TREASU	2.00	Officer	$0	$0	$0
BILL MORRISON	BOARD CHAIR	5.00	Officer	$0	$0	$0
JUDI NELSON	BOARD SECRET	2.00	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	$529,365	$535,224	$359,083	$-5,859
2023	$474,090	$469,668	$359,863	$4,422
2022	$481,719	$434,382	$317,909	$47,337
2021	$381,461	$368,665	$266,604	$12,796
2019	$280,736	$195,124	$199,409	$85,612
2018	$156,766	$117,069	$113,797	$39,697

HOPE'S CLOSET INC