Save a Suit

Nonprofit profile at a glance

EIN
270863507
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Bethel, CT, USA
Phone
2034566801
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$321,014
Expenses
$286,461
Assets
$421,498
Liabilities
$146,928

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

Leadership & pay

5 people listed

Highest reported compensation

  • Alexis Carrera (Executive Dir.): $43,686 total reported compensation

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

Overview

Mission

Provides veterans and transitioning service members with business suits, professional attire, and other clothing resources they need to achieve job security.

What it reported doing in 2024

Suiting up veterans and transitioning service members

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.
  • 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 93
  • Accountability: 90
  • Sustainability: 48
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.2%; rating input score 48
  • Program expense ratio: 94.6%; rating input score 95
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.8%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 1.47; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 15.3%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: -2.7% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: -6% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 48.2% of revenue deployed · 94.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $271K in reported program spending
  • Leadership: top reported pay $44K · 5 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 48/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.