Hopes Closet of Santa Cruz

Nonprofit profile at a glance

EIN
451677321
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Santa Cruz, CA, USA
Phone
8314626700
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Official website

Reported finances

Revenue
$306,788
Expenses
$302,314
Assets
$257,772
Liabilities
$18,732

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • CHRIS CHANGRAS (President)

People named in this filing

  • CHRIS CHANGRAS (President)
  • VALERIE ROMERO (Secretary)
  • DAVE LEONE (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Hopes closet provides used clothing and necessities for children from low-income families in santa cruz county. We provide clothing at no cost and operate a resale store to offer clothing, books, and toys at low cost and to offsets our operating expenses.

What it reported doing in 2024

In 2024 we provided 2875 bundles of clothing to children from low-income families in santa cruz county California. Each bundle contains a weeks worth of clothes, shoes, books, toys and games.in 2024 we received approximately 4900 donations of clothing, toys, books, games and equipment from the community. These donations are used to prepare our bundles of clothing and provide inventory for our resale store.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.9%; rating input score 91
  • Program expense ratio: 92.3%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.5%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 8.1% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: -5.8% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 19.4% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 90.9% of revenue deployed · 92.3% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $279K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.