THE GIVING CLOSET PROJECT INC (EIN 812447928) - 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

2016

Legal Domicile

Phone

9042263931

Tax Period

2023-10-01 to 2024-09-30

THE GIVING CLOSET PROJECT INC, founded in 2016, is a community nonprofit in the Youth Development sector that reported $1.9M in total revenue in fiscal year 2023. Revenue surged 302% from the prior year, signaling strong growth momentum. Expenses of $1.8M left a modest 7% surplus.

Mission

THE GIVING CLOSET PROJECT (GCP) PROVIDES CLOTHING, HYGIENE ITEMS AND OTHER BASIC NECESSITIES TO STUDENTS IN NEED, ELEVATING THEIR SELF-ESTEEM AND DIGNITY. BY ENSURING THAT A CHILDS NEEDS ARE MET

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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 $1,885,576

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,885,576

Expense Breakdown

Grants Paid $1,458,814

Salaries & Benefits $80,194

Fundraising Expenses $29,386

Program Expenses $1,693,900

Other Expenses $213,664

TOTAL EXPENSES $1,752,672

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,885,576	$469,250	+3.0%
Expenses	$1,752,672	$498,849	+2.5%
Net Income	$132,904	$-29,599	-5.5%

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

100

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
JENNIFER SMITH	CEO/EXECUTIVE DIRECTOR	40.00	Officer	$0	$0	$0
CYNTHIA SWANK	BOARD MEMBER	2.00	Director	$0	$0	$0
WILSHEM PENNICK	SECRETARY	2.00	Officer	$0	$0	$0
DEAN MEDLY	PRESIDENT	2.00	Officer	$0	$0	$0
JEFF MCCAIN	TREASURER	2.00	Officer	$0	$0	$0
CHRISTINE JOHNSON	BOARD MEMBER	2.00	Director	$0	$0	$0
JOSH COOKSEY	BOARD MEMBER	2.00	Director	$0	$0	$0
LINDA CALOIA	BOARD MEMBER	2.00	Director	$0	$0	$0
MARK SIMMONDS	BOARD MEMBER	2.00	Director	$0	$0	$0
TRACY HAY	BOARD MEMBER	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	$1,885,576	$1,752,672	$7,424	$132,904
2023	$469,250	$498,849	$14,016	$-29,599
2022	$509,940	$1,621,651	$139,527	$-1,111,711
2021	$2,842,939	$1,594,262	$1,250,141	$1,248,677

THE GIVING CLOSET PROJECT INC