Note in the Pocket Inc

Nonprofit profile at a glance

EIN
462574332
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9197149403
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$4,241,087
Expenses
$4,220,334
Assets
$3,241,949
Liabilities
$1,106,664

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

Leadership & pay

17 people listed

Executive titles in this filing

  • DALLAS BONAVITA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DALLAS BONAVITA (EXECUTIVE DIRECTOR): $99,399 total reported compensation

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

Overview

Mission

Note in the pocket provides clothing to impoverished and homeless school children in wake county with dignity and love. We believe it is unacceptable that children in wake county are limited in their educational and social development because they do not have appropriate clothing for school.

What it reported doing in 2024

Note in the pocket's primary program is to provide local homeless and impoverished school children and their families with high-quality clothing. In 2024, 10,081 individuals received much-needed clothing assistance throughout wake and durham counties.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.4%; rating input score 91
  • Program expense ratio: 91.1%; rating input score 91
  • Fundraising efficiency: $39.89 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.5%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: 20.1% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 19.8% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 23.4% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 91.4% of revenue deployed · 91.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.8M in reported program spending
  • Leadership: top reported pay $99K · 17 people listed
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.