Our Closet

Nonprofit profile at a glance

EIN
611722825
IRS 990 coverage
2014–2015
Forms available
Form 990 2015, Form 990-N 2013
Location
Bryn Mawr, PA, USA
Phone
6108347100
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Personal Social Services

Official website

Reported finances

Revenue
$213,931
Expenses
$179,442
Assets
$72,403
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • JILL ASCHKENASY (PRESIDENT)

Highest reported compensation

  • ANISHA SINHA (PROGRAM DIRECTOR): $56,663 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide clothing to vulnerable philadelphians and their families free of charge by operating "pop-up shops" throughout the city.

What it reported doing in 2015

Provide community members who are struggling to make ends meet the opportunity to receive free, quality clothing through the operations of a donated goods program allowing them to meet a basic need so they can better focus on handling other stressors in their lives, such as securing a steady source of income or finding permanent housing solutions, with confidence.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 53
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.5%; rating input score 51
  • Program expense ratio: 60.2%; rating input score 60
  • Fundraising efficiency: $6.65 raised per $1 spent on fundraising; rating input score 30; 30th 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: 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.1%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 0.4; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 31.6%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -9.5% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 50.5% of revenue deployed · 60.2% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $108K in reported program spending
  • Leadership: top reported pay $57K · 5 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 2 filing years from 2014 to 2015
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.