Overview
What is Asbury Thrift Store Inc?
Asbury Thrift Store Inc is a nonprofit organization situated in Madison, Alabama, specifically at 295 Portal Lane. Their primary operation involves managing a thrift store, where they sell donated items from the public. The revenue generated from these sales is dedicated to charitable, religious, scientific, literary, or educational purposes, either directly or through contributions to other 501(c)(3) exempt organizations. Asbury Thrift Store Inc's mission is to offer financial aid to local charitable organizations, helping to strengthen their ability to serve their communities. With a workforce of 58 employees, the organization contributes to the welfare of their locality by supporting various charitable initiatives.
Official website here: www.asburythriftstore.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%). This rating indicates that Asbury Thrift Store Inc has several strengths but also notable weaknesses that affect its overall score. The organization's governance is strong, with an independent board that scores full points for both the majority of independent members and board size. However, significant shortcomings are present in financial transparency and policies that are critical for accountability.
The organization faces challenges particularly in financial statement reporting, where it received zero out of fifteen points. Additionally, the absence of essential policies, such as those related to conflict of interest and whistleblower protections, raises concerns about its operational governance. Despite these issues, the nonprofit maintains a solid program expense ratio, indicating that it directs a significant portion of its spending towards its programs.
In summary, while Asbury Thrift Store Inc demonstrates strong governance practices, it must address its financial reporting and policy deficiencies to improve its accountability rating. Enhancing transparency and implementing crucial policies could help bolster donor trust and overall organizational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Asbury Thrift Store Inc legitimate?
Asbury Thrift Store Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asbury 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $601,276
For more financial information, click here
Official website here: www.asburythriftstore.com
What is the mission statement of Asbury Thrift Store Inc?
Asbury Thrift Store Inc's mission is centered around providing aid to local charitable organizations. More specifically, the organization focuses on offering financial assistance to these charities. Operating a thrift store, Asbury Thrift Store Inc generates income from the sale of donated goods by the public. The revenue earned is solely utilized for charitable, religious, scientific, literary, or educational purposes. This can be achieved either directly or through contributions to organizations classified as exempt under Section 501(C)(3) of the Internal Revenue Code and regulations.
Official website here: www.asburythriftstore.com
Who is the CEO of Asbury Thrift Store Inc?
Wanda Myers is the Treasurer of Asbury Thrift Store Inc.
Official website here: www.asburythriftstore.com
What is the revenue of Asbury Thrift Store Inc?
Asbury Thrift Store Inc's revenue in 2022 was $1,372,696.
Official website here: www.asburythriftstore.com
Who are the executives of Asbury Thrift Store Inc and what are their salaries?
The average compensation at Asbury Thrift Store Inc during 2022 was $10,367. There are 58 employees and 160 volunteers at Asbury Thrift Store Inc.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.asburythriftstore.com
Where can I find the form 990 for Asbury Thrift Store Inc?
Asbury Thrift Store Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.asburythriftstore.com
Learn more at the official website: www.asburythriftstore.com
Mission Statement of Asbury Thrift Store Inc
Asbury Thrift Store Inc, as a nonprofit organization, is devoted to assisting local charitable entities. The primary objective of this organization is to provide financial aid to these charitable organizations. To accomplish this mission, Asbury Thrift Store Inc operates a thrift store where revenue is generated by selling donated goods from the general public. The proceeds from these sales are then allocated exclusively towards charitable, religious, scientific, literary, or educational purposes. This could be done directly or through contributions to organizations that meet the criteria of being exempt organizations under Section 501(C)(3) of the Internal Revenue Code and its regulations.
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Impact
July, 2024
Asbury Thrift Store Inc's impact revolves around providing financial assistance to local charitable organizations through the operation of its thrift store. The organization generates revenues by selling donated goods to the general public, with all income from operations directed towards charitable, religious, scientific, literary, or educational purposes. By channeling resources in this manner, Asbury Thrift Store Inc plays a vital role in supporting various community initiatives and contributing to the well-being of those in need.
This information is meant to be a general summary of Asbury 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 2022.
- Investment Income: $7,948
- Program Service Revenue: $1,361,014
- Gross Receipts: $1,372,696
Assets and Liabilities:
- Total Assets: $3,005,522
- Total Liabilities: $25,414
- Net Assets: $2,980,108
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF DONATED MERCHANDISE
Revenue
$1,361,014
Organization Details
Founding Year
1999
Phone
(256) 464-0460Principal Officer
Wanda Myers
Main Address
295 PORTAL LANE, MADISON, AL, 35758
Website
www.asburythriftstore.comNTEE Category
Code: P29 - Human services
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