Overview
What is Nuway Thrift Store Inc?
Nuway Thrift Store Inc, located in Kalamazoo, Michigan, is a nonprofit organization that plays a significant role in the community. It collects a variety of used clothing and household items as donations from the public. The organization then goes through an incurred process of sorting and reselling these items at prices below their market value to the general public. This thrift store operation is more than just a business; it serves as a means to generate surplus funds, which are then distributed to local non-profit organizations that focus on supporting youth and youth-related ministries. By offering affordable goods, Nuway Thrift Store Inc contributes to the community in multiple ways, making it an essential resource for both shoppers and local charities.
Is Nuway Thrift Store Inc legitimate?
Nuway Thrift Store Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nuway Thrift Store Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $113,507
Professional Fundraising Fees: $0
Other Salaries and Wages: $60,963
For more financial information, click here
What is the mission statement of Nuway Thrift Store Inc?
Nuway Thrift Store Inc's mission is centered around collecting, reselling, and distributing secondhand clothing and household items to the public at reduced prices. The organization serves as a platform for individuals to donate their gently used items, which are then sorted and sold at affordable rates. Any excess funds generated from these sales are distributed to local non-profit organizations that focus on youth and youth-related ministries. In essence, Nuway Thrift Store Inc aims to provide affordable goods while supporting charitable initiatives that benefit the community's youth.
Who is the CEO of Nuway Thrift Store Inc?
Kenneth Hassing is the President of Nuway Thrift Store Inc.
What is the revenue of Nuway Thrift Store Inc?
Nuway Thrift Store Inc's revenue in 2021 was $493,553.
Who are the executives of Nuway Thrift Store Inc and what are their salaries?
The average compensation at Nuway Thrift Store Inc during 2021 was $19,386. There are 9 employees and 5 volunteers at Nuway Thrift Store Inc.
Here are 6 key members and their salaries:
- Compensation: $113,507
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Nuway Thrift Store Inc?
Nuway Thrift Store Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Nuway Thrift Store Inc
Nuway Thrift Store Inc, as a nonprofit organization, is committed to collecting, reselling, and distributing clothing and household goods to the general public at prices below market value. Their mission is twofold: firstly, they collect used items from the public as donations. Secondly, they incur expenses to sort and sell these items to the general public, aiming to provide affordable options to a wide range of individuals. The surplus funds generated from these sales are then distributed to local non-profit organizations that focus on serving youth and youth-related ministries. By doing so, Nuway Thrift Store Inc effectively bridges the gap between those who have excess items and those in need, while simultaneously contributing to the support of youth-focused non-profits.
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Impact
October, 2024
Nuway Thrift Store Inc significantly impacts its local community by providing affordable access to clothing and household goods. By collecting donations from the public, the store operates on the principle of resale, offering these items at below-market values. This model not only helps individuals and families in need save money but also promotes the recycling and repurposing of goods, contributing to environmental sustainability.
In addition to meeting basic needs for clothing and household items, Nuway allocates surplus funds to local nonprofit organizations that support youth and youth-related ministries. This financial support helps strengthen local initiatives aimed at improving the welfare and development of young people in the Kalamazoo area. Overall, Nuway Thrift Store Inc fosters a sense of community by making essential items accessible, supporting local programs, and encouraging charitable giving.
This information is meant to be a general summary of Nuway Thrift Store Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Investment Income: -$9,020
- Program Service Revenue: $408,775
- Gross Receipts: $502,573
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF CLOTHING AND GOODS
Revenue
$408,775
Organization Details
Founding Year
1982
Phone
(269) 343-7108Principal Officer
Kenneth Hassing
Main Address
211 E CORK STREET, KALAMAZOO, MI, 49001
NTEE Category
Code: P29 - Human services
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