Note In The Pocket Inc
- Assets
- $3.2m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 18
- Location
- Raleigh, NC
- Founding
- 08/2013
- Data as of
- 12/2022
- EIN
- 46-2574332
Organization Overview
Note In The Pocket Inc is located in Raleigh, NC. The organization was established in 2013. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Note In The Pocket Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Note In The Pocket 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 12/2022, Note In The Pocket Inc generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.1% each year . All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 19.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
NOTE IN THE POCKET PROVIDES CLOTHING TO IMPOVERISHED AND HOMELESS SCHOOL CHILDREN IN WAKE COUNTY WITH DIGNITY AND LOVE. WE BELIEVE IT IS UNACCEPTABLE THAT CHILDREN IN WAKE COUNTY ARE LIMITED IN THEIR EDUCATIONAL AND SOCIAL DEVELOPMENT BECAUSE THEY DO NOT HAVE APPROPRIATE CLOTHING FOR SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOTE IN THE POCKET'S PRIMARY PROGRAM IS TO PROVIDE LOCAL HOMELESS AND IMPOVERISHED SCHOOL CHILDREN AND THEIR FAMILIES WITH HIGH QUALITY CLOTHING. IN 2022, 8,526 INDIVIDUALS RECEIVED MUCH NEEDED CLOTHING ASSISTANCE THROUGHOUT WAKE COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christie Moser Chairperson | OfficerTrustee | 0 | $0 |
Tim Tinnesz Vice Chairman | OfficerTrustee | 0 | $0 |
Jeremy Petranka Director | Trustee | 0 | $0 |
Jennifer Vondee Secretary | OfficerTrustee | 0 | $0 |
Mark Chambers Treasurer | OfficerTrustee | 0 | $0 |
Bruce Cross Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $125,168 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,152,504 |
| Noncash contributions included in lines 1a–1f | $3,092,701 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,277,672 |
| Total Program Service Revenue | $0 |
| Investment income | $175 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,211 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,329,344 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,624,651 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $70,584 |
| Compensation of current officers, directors, key employees. | $7,058 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $330,948 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,189 |
| Payroll taxes | $32,839 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,102 |
| Advertising and promotion | $3,344 |
| Office expenses | $2,517 |
| Information technology | $16,955 |
| Royalties | $0 |
| Occupancy | $173,004 |
| Travel | $19 |
| 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 | $21,484 |
| Insurance | $15,850 |
| All other expenses | $29,651 |
| Total functional expenses | $2,564,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $734,832 |
| Savings and temporary cash investments | $259,029 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,417 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,013,331 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $182,569 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,235,178 |
| Accounts payable and accrued expenses | $22,329 |
| Grants payable | $0 |
| Deferred revenue | $6,000 |
| 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 | $3,567 |
| Total liabilities | $31,896 |
| Net assets without donor restrictions | $3,199,921 |
| Net assets with donor restrictions | $3,361 |
| 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 | $3,235,178 |
Grants Awarded
Over the last fiscal year, Note In The Pocket Inc has awarded $46,914 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CATHOLIC PARISH OUTREACH PURPOSE: TO PROVIDE CLOTHING TO THOSE IN NEED | $33,630 |
INTERACT PURPOSE: TO PROVIDE CLOTHING TO THOSE IN NEED | $13,284 |