Overview
What is Depot Outlet Inc?
Depot Outlet Inc is a nonprofit organization based in Decorah, Iowa, with an address at 510 Montgomery Street. Its primary mission is to encourage local residents to recycle their unwanted clothing and small household goods, which are then sold at affordable prices to the community. The organization relies on the efforts of employees, local church volunteers, and donors to clean, sort, and sell the donated items. In addition to its recycling efforts, Depot Outlet Inc also offers opportunities for area residents to volunteer and work within the organization. The funds raised through the recycling program are contributed to various community and church organizations throughout Winneshiek County. The organization's goal is to not only recycle goods but also to make a positive impact on the community by providing opportunities for involvement and support to local organizations.
Official website here: www.depotoutlet.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Stars (47%)
Depot Outlet Inc has received a low score of 47%, resulting in a Zero-Star rating from Charity Navigator. This rating is primarily based on its accountability and finance metrics, which fall short in key areas. The organization does maintain strong governance practices, as evidenced by the presence of a majority independent board and well-documented policies for conflicts of interest and whistleblower protections.
However, significant concerns arise regarding financial performance indicators. Depot Outlet Inc's program expense ratio is notably low at 46.98%, indicating that less than half of its expenditures are directed towards its programs. Additionally, the fundraising efficiency ratio is reported at $0.00, which raises questions about its ability to effectively raise funds for its mission. The liabilities to assets ratio of 1.78% further highlights potential financial instability.
Overall, while Depot Outlet Inc demonstrates strength in governance and accountability practices, its poor financial performance raises concerns about its operational effectiveness and sustainability. Prospective donors may want to consider these factors before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is Depot Outlet Inc legitimate?
Depot Outlet Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Depot Outlet 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: $48,602
Professional Fundraising Fees: $0
Other Salaries and Wages: $472,413
For more financial information, click here
Official website here: www.depotoutlet.org
What is the mission statement of Depot Outlet Inc?
The mission statement of Depot Outlet Inc is centered around promoting recycling efforts within the community. They aim to encourage residents to recycle their discarded clothing and small household goods, and subsequently, they recycle these items at affordable prices for consumers. The organization also offers opportunities for residents to volunteer and work in their recycling efforts, providing a means for community involvement. Moreover, they contribute funds from their recycling efforts to various community and church organizations, fostering a sense of giving and support within the local community.
Official website here: www.depotoutlet.org
Who is the CEO of Depot Outlet Inc?
Karla Olson is the Store Direct of Depot Outlet Inc.
Official website here: www.depotoutlet.org
What is the revenue of Depot Outlet Inc?
Depot Outlet Inc's revenue in 2022 was $2,098,581.
Official website here: www.depotoutlet.org
Who are the executives of Depot Outlet Inc and what are their salaries?
The average compensation at Depot Outlet Inc during 2022 was $14,886. There are 35 employees and 35 volunteers at Depot Outlet Inc.
Here are 10 key members and their salaries:
- Compensation: $48,602
- Related: $0
- Other: $235
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.depotoutlet.org
Where can I find the form 990 for Depot Outlet Inc?
Depot Outlet Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.depotoutlet.org
Learn more at the official website: www.depotoutlet.org
Mission Statement of Depot Outlet Inc
The Depot Outlet Inc, a non-profit organization, is dedicated to encouraging and assisting local residents in recycling their discarded clothing and small household goods. By doing so, they aim to recycle these items at low prices for consumers in the area.
Moreover, Depot Outlet Inc offers opportunities for area residents to volunteer their services and train to work in their recycling effort. This not only helps to divert waste from landfills but also provides a platform for community members to contribute to a worthy cause.
Lastly, the funds generated from their recycling effort are shared with community and church organizations throughout the county, further extending their reach and impact in the local community. In essence, Depot Outlet Inc is a hub for recycling, volunteerism, and community fundraising, all rolled into one.
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Impact
June, 2024
Depot Outlet Inc has a significant impact on the community of Decorah, Iowa by encouraging and assisting residents in recycling their discarded clothing and small household goods. Through their efforts, they provide families in need with access to affordable used clothing, books, and household items. This not only promotes sustainability by reducing waste but also supports the local community by offering low-cost options for essential goods. Additionally, Depot Outlet Inc creates opportunities for area residents to volunteer, train, and work within their organization's recycling efforts, fostering a sense of community involvement and skill development. Furthermore, their contributions to community and church organizations in Winneshiek County demonstrate their commitment to making a positive difference in the region.
This information is meant to be a general summary of Depot Outlet 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 2022.
- Investment Income: $12,187
- Program Service Revenue: $1,041,122
- Gross Receipts: $2,098,581
Assets and Liabilities:
- Total Assets: $1,914,433
- Total Liabilities: $34,241
- Net Assets: $1,880,192
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE OF USED CLOTHING
Revenue
$992,911
RECYCLING INCOME
Revenue
$48,211
Organization Details
Founding Year
1973
Phone
(563) 382-2700Principal Officer
Karla Olson
Main Address
510 MONTGOMERY STREET, DECORAH, IA, 52101
Website
www.depotoutlet.orgNTEE Category
Code: C27 - Environment
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