The Giving Closet Project Inc

Nonprofit profile at a glance

EIN
812447928
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2018
Location
Jacksonville, FL, USA
Phone
9042263931
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Youth Development N.E.C.

Official website

Reported finances

Revenue
$1,061,737
Expenses
$1,045,180
Assets
$37,443
Liabilities
$15,462

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

Leadership & pay

12 people listed

Executive titles in this filing

  • JENNIFER SMITH (CEO/EXECUTIVE DIRECTOR)
  • JEFFREY MCCAIN (PRESIDENT)

Highest reported compensation

  • JENNIFER SMITH (CEO/EXECUTIVE DIRECTOR): $60,000 total reported compensation

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

Overview

Mission

The giving closet project (gcp) provides clothing, hygiene items and other basic necessities to students in need, elevating their self-esteem and dignity. By ensuring that a childs needs are met

What it reported doing in 2024

Through our essential angels program and community events, gcp served a total of 2,000 students in duval county through online referrals submitted, emergency appointments, walk-ins, partner appointments and on-site field trips. 23 social service agencies utlized our services and 67% of our referrals came in from duval county public schools employees. Through essential angels for our palm beach county hub, we provide services to 1,400 students. Between duval & palm beach counties, gcp provided services to a total of 3,400 students providing $510,000 worth of clothing (uniforms & casual), new socks and underwear, sneakers, hygiene items, and other basic essentials

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 80% 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. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 94
  • Accountability: 79
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.8%; rating input score 94
  • Program expense ratio: 95.3%; rating input score 95
  • Fundraising efficiency: $42.9 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; 76th 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.6%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: -8.3% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 14.6% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: -20.1% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 93.8% of revenue deployed · 95.3% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $996K in reported program spending
  • Leadership: top reported pay $60K · 12 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.