Housing Works Thrift Shop Inc
- Assets
- $27.8m
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 10/1992
- Data as of
- 06/2022
- EIN
- 13-3676157
Organization Overview
Housing Works Thrift Shop Inc is located in Brooklyn, NY. The organization was established in 1992. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Works Thrift Shop Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Housing Works Thrift Shop Inc generated $14.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $11.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THRIFT SHOPS TO PROVIDE SUPPORT TO HOMELESS PERSONS LIVING WITH AIDS OR HIV-RELATED ILLNESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOUSING WORKS THRIFT SHOP, INC. OCCUPY THIRTEEN UPSCALE LOCATIONS IN NEW YORK CITY, SELLING HIGH-END VINTAGE TREASURES TO BARGAIN HUNTERS AND FASHIONISTAS ALIKE. THE THRIFT SHOPS RECEIVED APPROXIMATELY $10 MILLION IN DONATED GOODS THAT WERE ULTIMATELY SOLD IN ITS STORES. ALL FUNDS RECEIVED ARE USED TO ASSIST HOMELESS PERSONS WITH AIDS AND HIV-RELATED ILLNESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Starr Board Member | Trustee | 1 | $0 |
Cathy Torelli Board Member | Trustee | 1 | $0 |
Douglas Friedman Board Member (outgoing) | Trustee | 1 | $0 |
E O'brien Kelley Board Member | Trustee | 1 | $0 |
Fabrice Houdart Board Member | Trustee | 1 | $0 |
Flavio Stahl Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mark Stephen Production Llc Production Services | 6/29/18 | $192,463 |
Bcm One Inc It Operation Srvs | 6/29/18 | $170,825 |
Noor Staffing Group Llc Recruitment Srvs | 6/29/18 | $141,772 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $209,053 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,544,075 |
| Noncash contributions included in lines 1a–1f | $13,335,820 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,753,128 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $488,310 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$7,025 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,313,583 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,977,878 |
| Fees for services: Legal | $4,087 |
| Fees for services: Accounting | $11,291 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,287,713 |
| Advertising and promotion | $44,952 |
| Office expenses | $484,395 |
| Information technology | $62,418 |
| Royalties | $0 |
| Occupancy | $3,935,306 |
| Travel | $147,999 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $270,698 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $167,861 |
| Insurance | $75,481 |
| All other expenses | $24,057 |
| Total functional expenses | $11,910,423 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,528,133 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,535,140 |
| Prepaid expenses and deferred charges | $180,850 |
| Net Land, buildings, and equipment | $285,801 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,246,560 |
| Total assets | $27,776,484 |
| Accounts payable and accrued expenses | $786,414 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,056,378 |
| Total liabilities | $14,842,792 |
| Net assets without donor restrictions | $12,933,692 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $27,776,484 |