Overview
What is Deposits Closet Inc?
Deposits Closet Inc is a nonprofit organization that functions as a thrift store, catering to approximately 1500 customers annually through 5000 transactions. The primary purpose of the thrift store is to sell second-hand clothing and household items to the public. Beyond its retail operations, Deposits Closet Inc contributes to community development by donating a portion of its earnings to various local organizations. This charitable aspect of their mission aims to support these community groups with financial assistance.
Is Deposits Closet Inc legitimate?
Deposits Closet Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Deposits Closet Inc submitted a form 990EZ, 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.
What is the mission statement of Deposits Closet Inc?
Deposits Closet Inc, as a thrift store, primarily sells second-hand clothing and household items to the public. The organization serves a significant number of customers, approximately 1500, annually with about 5000 transactions. Beyond its retail operations, Deposits Closet Inc also has a mission to contribute to the community. It accomplishes this by distributing grants from the profits generated by its thrift store to various community organizations. The organization's mission, in essence, is to function as a thrift store and utilize its earnings to support local community initiatives.
Who is the CEO of Deposits Closet Inc?
Deb Stever is the Treasurer of Deposits Closet Inc.
What is the revenue of Deposits Closet Inc?
Deposits Closet Inc's revenue in 2022 was $118,773.
Who are the executives of Deposits Closet Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990EZ for Deposits Closet Inc?
Deposits Closet Inc's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Deposits Closet Inc
Deposits Closet Inc, a thrift store, fulfills its mission by selling used clothing and household items to the public. Through this activity, the organization serves around 1500 customers annually, engaging in about 5000 transactions. Beyond its retail operations, Deposits Closet Inc also extends its reach by providing grants to various community organizations. These grants are funded by the net earnings derived from the thrift store, allowing the organization to contribute to the betterment of the community it serves. By combining its retail activities with grant-giving, Deposits Closet Inc demonstrates its commitment to supporting the local community and making a positive impact in the lives of its residents.
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Impact
October, 2024
Deposits Closet Inc has a significant impact on the community by providing an accessible avenue for purchasing affordable used clothing and household items. Serving approximately 1,500 customers annually through around 5,000 transactions, it plays a vital role in promoting sustainable shopping practices and reducing waste. The thrift store model not only allows individuals and families to find necessary goods at lower prices but also fosters a sense of community engagement.
Additionally, the organization supports local needs by allocating funds from its net proceeds to grants for community organizations, thus amplifying its positive influence beyond retail. This dual approach of offering affordable goods while supporting local initiatives contributes to the overall well-being of the Deposit, NY community and enhances the quality of life for many residents. Through its operations, Deposits Closet not only meets economic needs but also encourages community collaboration and assistance.
This information is meant to be a general summary of Deposits Closet 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: $4
- Program Service Revenue: $82,245
- Gross Receipts: $118,773
Assets and Liabilities:
- Total Assets: $249,581
- Total Liabilities: $0
- Net Assets: $249,581
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Organization Details
Principal Officer
Deb Stever
Main Address
PO BOX 111, DEPOSIT, NY, 13754
NTEE Category
Code: N20 - Recreation
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