THE CLOSET OF THE GREATER HERNDON AREA INC (EIN 541027799) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

GENE WILEY

Phone

7034377652

Tax Period

2025-01-01 to 2025-12-31

THE CLOSET OF THE GREATER HERNDON AREA INC, founded in 1974, is a small nonprofit that reported $896K in total revenue in fiscal year 2018. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $770K left a modest 14% surplus.

Mission

A THRIFT SHOP THAT SELLS DONATED ITEMS AND DONATED ITEMS AND DONATES ITS NET REVENUE TO VARIOUS CHARITIES AND GIVES SCHOLARSHIPS TO LOCAL HIGH SCHOOLS THAT CHOOSE THE RECEIPIENTS

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $1,281,052

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,281,052

Expense Breakdown

Grants Paid $238,150

Salaries & Benefits $725,475

Fundraising Expenses $0

Program Expenses $238,150

Other Expenses $292,765

TOTAL EXPENSES $1,256,390

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,281,052	$1,206,948	+0.1%
Expenses	$1,256,390	$1,195,436	+0.1%
Net Income	$24,662	$11,512	+1.1%

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

374

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
GENE WILEY	PRESIDENT	8.0	Officer Director	$0	$0	$0
ANREA COLLETTE	TREASURER	4.0	Officer Director	$0	$0	$0
WILLIAM AREY	VICE PRESIDENT	6.0	Officer Director	$0	$0	$0
BETSY ROCK	FINANCIAL OFFICER	4.0	Officer Director	$0	$0	$0
HOLLY HARTGE	MEMBER AT LARGE	2.0	Officer	$0	$0	$0
JAMES KEEVEN	OFFICER AT LARGE	2.0	Officer	$0	$0	$0
GERRI LUDWIG	OFFICER AT LARGE	2.0	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
2025	$1,281,052	$1,256,390	$1,978,415	$24,662
2024	$1,162,644	$1,243,502	$1,907,014	$-80,858
2023	$1,206,948	$1,195,436	$1,943,084	$11,512
2022	$1,181,973	$1,066,277	$1,886,516	$115,696
2021	$1,069,550	$1,013,976	$1,746,686	$55,574
2020	$723,904	$773,753	$1,636,674	$-49,849
2019	$997,702	$866,854	$1,468,536	$130,848
2018	$896,173	$769,650	$1,337,689	$126,523

THE CLOSET OF THE GREATER HERNDON AREA INC