The Closet Inc
Nonprofit profile at a glance
- EIN
- 813081944
- IRS 990-EZ coverage
- 2020–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2019
- Location
- Boise, ID, USA
- Phone
- 2084090204
- Rating
- 95
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Emergency Assistance
Reported finances
- Revenue
- $83,583
- Expenses
- $81,537
- Assets
- $95,453
- Liabilities
- $728
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Kelly McMurry (President)
People named in this filing
- Kelly McMurry (President)
- Matthew McMurry (Secretary)
- Karyn McKinney (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Providing free clothes to teens in need. Ada County teens in grades 6-12 hear about The Closet through their school counselors, juvenile corrections case managers, homeless shelters, and other local agencies. Our goal is to clothe our young clients in items they feel proud to wear and help them choose those perfect items that will build their confidence and help them engage with the world in a more meaningful way.
What it reported doing in 2024
Providing free clothes to teens in need by providing a storefront and personalized shopping experience that allows each teen to leave with 12 new/gently used items, including 2 pairs of shoes! The Closet served 1031 teens in 2024.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- 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. Revenue has declined or grown slowly and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 99
- Transparency & Controls: 100
- Sustainability: 43
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97.6%; rating input score 98
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 2.4%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 1.17; rating input score 51; 51st percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 30; 30th percentile among comparable filings
- Officer compensation ratio: 29.4%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: 7.3% per year; rating input score 100; 67th percentile among comparable filings
- Revenue growth: -1% per year; rating input score 0; 47th percentile among comparable filings
- Asset growth: 7.8% per year; rating input score 100; 67th percentile among comparable filings
Details
- Where the money goes: 97.6% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $82K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules
- Filing history: 5 filing years from 2020 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.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Operating margin scored 50/100.
- Review — Sustainability: Total-asset coverage ratio scored 51/100.
- High — Sustainability: Officer compensation ratio scored 6/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 30/100.