COLORFUL CLOSETS OF AMARILLO INC (EIN 813693528) - 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

Principal Officer

LINDSEY WING

Phone

8064203867

Tax Period

2024-01-01 to 2024-12-31

COLORFUL CLOSETS OF AMARILLO INC, founded in 2016, is a small nonprofit in the Human Services sector that reported $368K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $339K left a modest 8% surplus.

Mission

IN MEETING A CHILD OR ADOLESCENT'S BASIC CLOTHING NEEDS, THE ORGANIZATION WILL MINISTER TO THEM IN THE HOPE OF SPREADING THE LOVE OF JESUS CHRIST. THE ORGANIZATION WILL CLOTHE ALL OF THOSE REFERRRED TO THEM WITH A NEED.

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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 $352,172

Program Service Revenue $0

Investment Income $0

Other Revenue $16,296

TOTAL REVENUE $368,468

Expense Breakdown

Grants Paid $196,447

Salaries & Benefits $110,774

Fundraising Expenses $0

Program Expenses $336,177

Other Expenses $31,479

TOTAL EXPENSES $338,700

Year-over-Year Comparison

	2024	2023	Change
Revenue	$368,468	$304,925	+0.2%
Expenses	$338,700	$267,466	+0.3%
Net Income	$29,768	$37,459	-0.2%

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

250

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

$79,951

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDSEY WING	CO-EX. DIRECTOR	30.00	Officer	$39,985	$0	$39,985
KEELY BROWN	CO-EX. DIRECTOR	30.00	Officer	$39,966	$0	$39,966
LANA HOLLAR	BOARD MEMBER	1.00	Director	$0	$0	$0
LANA DEMPSEY	Secretary	1.00	Officer Director	$0	$0	$0
ALEXIS BAER	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN HARE	Treasurer	1.00	Officer Director	$0	$0	$0
JENNIFER GILBREATH	President	1.00	Officer Director	$0	$0	$0
BRET BAER	BOARD MEMBER	1.00	Director	$0	$0	$0
WENDY CURRY	BOARD MEMBER	1.00	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
2025	No data	No data	No data	No data
2024	$368,468	$338,700	$189,451	$29,768
2023	$304,925	$267,466	$165,503	$37,459
2022	$250,128	$262,369	$126,922	$-12,241
2020	$281,580	$181,495	$181,700	$100,085

COLORFUL CLOSETS OF AMARILLO INC