Caties Closet Inc
- Assets
- $8.1m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 29
- Location
- Dracut, MA
- Founding
- 03/2011
- Data as of
- 12/2023
- EIN
- 27-2531953
Organization Overview
Caties Closet Inc is located in Dracut, MA. The organization was established in 2011. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2023, Caties Closet Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caties Closet 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 12/2023, Caties Closet Inc generated $8.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $8.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
REFER TO SCHEDULE O, PAGE 46CATIE'S CLOSET GIVES CHILDREN IN NEED LIFE-CHANGING ACCESS TO CLOTHING AND BASIC NECESSITIES SO THEY CAN THRIVE IN SCHOOL AND IN LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AN IN-SCHOOL RESOURCE OF CLOTHING AND BASIC NECESSITIES TO STUDENTS LIVING BELOW THE POVERTY LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne-Marie Sousa President | OfficerTrustee | 5 | $0 |
Lynne Baril Vice Chair | OfficerTrustee | 2 | $0 |
Laura Bisson Treasurer | OfficerTrustee | 2 | $0 |
Rebecca Gilding Secretary | OfficerTrustee | 2 | $0 |
Katie Belanger Director | Trustee | 2 | $0 |
Al Doyle Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $505,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,105,667 |
| Noncash contributions included in lines 1a–1f | $5,388,814 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,610,667 |
| Total Program Service Revenue | $0 |
| Investment income | $10,592 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $238,118 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,117,068 |
| 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. | $112,761 |
| Compensation of current officers, directors, key employees. | $45,104 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $768,623 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $83,704 |
| Payroll taxes | $84,376 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,102 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $259,298 |
| Advertising and promotion | $129,524 |
| Office expenses | $115,326 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $418,024 |
| Travel | $11,710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,916 |
| Insurance | $21,602 |
| All other expenses | $59,464 |
| Total functional expenses | $8,469,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $395,266 |
| Savings and temporary cash investments | $562,903 |
| Pledges and grants receivable | $46,688 |
| Accounts receivable, net | $236,550 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,051,923 |
| Prepaid expenses and deferred charges | $29,525 |
| Net Land, buildings, and equipment | $351,348 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,431,177 |
| Total assets | $8,105,380 |
| Accounts payable and accrued expenses | $63,702 |
| Grants payable | $0 |
| Deferred revenue | $121,000 |
| 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 | $3,397,175 |
| Total liabilities | $3,581,877 |
| Net assets without donor restrictions | $3,960,315 |
| Net assets with donor restrictions | $563,188 |
| 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 | $8,105,380 |