CLOSET FACTORY CARES

EIN: 931961469 501(c)(3) Youth Development

Los Angeles, CA

Total Revenue
$269,979
Total Expenses
$304,630
Total Assets
$166,835
Net Assets
$166,835
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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
2023
Legal Domicile
CA
Phone
3105167000
Tax Period
2024-01-01 to 2024-12-31

CLOSET FACTORY CARES, founded in 2023, is a small nonprofit in the Youth Development sector that reported $270K in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $305K exceeded revenue, resulting in a 13% operating deficit.

Mission

TO ASSIST CHILDREN IN NEED AND TO ASSIST OTHER ORGANIZATIONS WITH SIMILAR GOALS.

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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 $269,979
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $269,979

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $10,000
Program Expenses $294,630
Other Expenses $304,630
TOTAL EXPENSES $304,630

Year-over-Year Comparison

2024 2023 Change
Revenue $269,979 $225,677 +0.2%
Expenses $304,630 $24,191 +11.6%
Net Income $-34,651 $201,486 -1.2%
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

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Governance

Voting Members
1
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
0
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHRYN LABARBERA Secretary 0.00
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 $269,979 $304,630 $166,835 $-34,651
2023 $225,677 $24,191 $201,486 $201,486
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