Overview
What is Used Treasures Inc?
Used Treasures Inc is a nonprofit organization situated in Tulare, California, at 232 South K Street. Their main activity involves collecting and repairing used items, which are then sold at discounted prices to the public. This thrift store operation is not an end in itself, but rather serves as a means to generate funds. The net profits derived from these sales are directed towards benefiting various local nonprofit organizations. Specifically, the proceeds support a Christian retirement community, Sierra Village, that prioritizes providing superior care and an enriching environment for its residents. Additionally, the funds contribute to Christ-centered education for students from pre-K to 12th grade at Central Valley Christian School and Hanford Christian School.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating with a score of 27%
Used Treasures Inc has received a zero-star rating from Charity Navigator, indicating significant concerns in its accountability and financial management. With a low overall score of 27%, the organization shows a lack of transparency, notably with missing financial statements and important governance policies such as a conflict of interest policy and a whistleblower policy.
Despite having a fully independent board, which is a positive aspect, the organization does not provide adequate financial oversight or the necessary documentation on its website. The program expense ratio is low at 25.75%, suggesting that a limited portion of its expenditures are directed towards its programs, which raises questions about the effectiveness of its operations.
Additionally, the liabilities to assets ratio is concerning at 2.46%, indicating potential financial instability. The absence of key financial documents and policies further underscores the need for improved governance and communication to build trust with stakeholders and the public.
This AI summary has been generated from information found on Charity Navigator.
Is Used Treasures Inc legitimate?
Used Treasures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Used Treasures 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: $461,488
For more financial information, click here
What is the mission statement of Used Treasures Inc?
Used Treasures Inc's mission is centered around two primary objectives. Firstly, a significant portion of the profits generated from the sale of donated items in their thrift store is channeled towards supporting a Christian retirement community, aiming to provide superior care and an inspiring environment. Secondly, the organization also invests in Christian education, contributing to pre-K through 12th grade programs at Central Valley Christian School and Hanford Christian School. By accepting and refurbishing used items from the public, they offer these items at discounted prices to the general public, thereby, utilizing the net profits to benefit various local non-profit organizations.
Who is the CEO of Used Treasures Inc?
Art Van Beek is the Director of Used Treasures Inc.
What is the revenue of Used Treasures Inc?
Used Treasures Inc's revenue in 2022 was $1,012,185.
Who are the executives of Used Treasures Inc and what are their salaries?
The average compensation at Used Treasures Inc during 2022 was $11,833. There are 39 employees and 25 volunteers at Used Treasures Inc.
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Where can I find the form 990 for Used Treasures Inc?
Used Treasures Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Used Treasures Inc
Used Treasures Inc, a thrift store, is dedicated to channeling the proceeds from its sales towards two noble causes. The first is supporting a Christian retirement community, Sierra Village, which strives to provide an exceptional level of care and a nurturing environment for its senior residents. The second cause is funding Christian education for students from pre-K to 12th grade at Central Valley Christian School and Hanford Christian School.
Used Treasures Inc operates by accepting used items from the general public, repairing them if necessary, and then selling them at discounted prices to the public. This retail activity serves as a means to generate revenue, which is then allocated to these two charitable ventures. Moreover, the organization also contributes a portion of its net earnings to various other not-for-profit organizations in the local area, extending its reach and impact beyond its primary missions.
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Impact
July, 2024
Used Treasures Inc has a significant impact by receiving used items from the general public, repairing them, and selling them at discount prices. The net proceeds from these sales are used to benefit various other nonprofit organizations in the local area. 100% of the thrift store sales proceeds go towards supporting a Christian retirement community dedicated to providing superior care and environment at Sierra Village, as well as providing a Christ-centered education for students in Pre-K through 12th grade at Central Valley Christian School and Hanford Christian School. Overall, Used Treasures Inc plays a crucial role in supporting human services and contributing to the well-being of the community.
This information is meant to be a general summary of Used Treasures 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: $11
- Gross Receipts: $1,976,359
Assets and Liabilities:
- Total Assets: $759,326
- Total Liabilities: $25,686
- Net Assets: $733,640
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Organization Details
Founding Year
2000
Phone
(559) 684-8919Principal Officer
Art Van Beek
Main Address
232 SOUTH K ST, TULARE, CA, 93274
NTEE Category
Code: P29 - Human services
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