Veterans Community Thrift Store
- Assets
- $611.9k
- Revenue
- $421.0k
- Investments
- $0.0
- Employees
- 23
- Location
- Hibbing, MN
- Founding
- 11/2016
- Data as of
- 12/2021
- EIN
- 81-4164446
Organization Overview
Veterans Community Thrift Store is located in Hibbing, MN. The organization was established in 2016. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 12/2021, Veterans Community Thrift Store employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veterans Community Thrift Store 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 12/2021, Veterans Community Thrift Store generated $421.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $278.0k during the year ending 12/2021. While expenses have increased by 18.2% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCEPT DONATIONS OF CLOTHING, HOUSEHOLD GOODS, FURNITURE, & BRIC-A-BRAC, AND USE THE FUNDS FROM SALES OF THESE ITEMS TO GIVE ASSISTANCE TO VETERANS IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACCEPT DONATIONS OF CLOTHING, HOUSEHOLD GOODS, FURNITURE, & BRIC-A-BRAC, AND USE THE FUNDS FROM SALES OF THESE ITEMS TO GIVE ASSISTANCE TO VETERANS IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Pocrnich Chief Executive Officer | Officer | 8 | $9,000 |
Ben Mancini Chair | OfficerTrustee | 1 | $0 |
Bill Bean Finance Director | OfficerTrustee | 2 | $0 |
Gary Oie Director | Trustee | 1 | $0 |
Marsha Urich Director | Trustee | 1 | $0 |
Linda Salo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,962 |
| All other contributions, gifts, grants, and similar amounts not included above | $328,721 |
| Noncash contributions included in lines 1a–1f | $324,045 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $369,683 |
| Total Program Service Revenue | $0 |
| Investment income | $223 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $51,084 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $420,990 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,608 |
| Grants and other assistance to domestic individuals. | $4,461 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $9,000 |
| Compensation of current officers, directors, key employees. | $1,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $176,695 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,277 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,190 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $600 |
| Advertising and promotion | $1,835 |
| Office expenses | $10,545 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,322 |
| Travel | $2,620 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,868 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,485 |
| Insurance | $4,421 |
| All other expenses | $0 |
| Total functional expenses | $277,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,223 |
| Savings and temporary cash investments | $36,270 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $507 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $250,132 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $213,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $611,893 |
| Accounts payable and accrued expenses | $5,603 |
| 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 | $0 |
| Total liabilities | $5,603 |
| Net assets without donor restrictions | $606,290 |
| 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 | $611,893 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Veterans Community Thrift Store has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Security State Bank Foundation Hibbing, MN PURPOSE: HOLIDAY BASKETS | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Pathways North Branch, MN | $11,559,805 | $11,964,466 |
St Vincent De Paul Society District Council Of Green Bay Green Bay, WI | $6,984,787 | $5,313,113 |
Depot Outlet Inc Decorah, IA | $1,906,503 | $2,062,809 |
St Vincent De Paul Council Of Neenah-Menasha Inc Neenah, WI | $2,036,881 | $1,874,816 |
Boys & Girls Club Thrift Store Of Detroit Lakes Detroit Lakes, MN | $3,328,510 | $3,129,793 |
St Josephs Conference Of The Societ St Vincent De Paul Inc Rice Lake, WI | $1,420,027 | $1,322,338 |
Overflow Thrift Store Inc Ames, IA | $470,741 | $892,857 |
St Vincent De Paul Society Of Oshkosh Inc Oshkosh, WI | $3,712,101 | $994,206 |
Society Of St Vincent De Paul Of Monroe Inc Monroe, WI | $1,791,065 | $954,620 |
St Vincent De Paul Society Of Lake Mills Lake Mills, WI | $1,792,161 | $1,066,248 |
Help At Your Door Golden Valley, MN | $1,448,232 | $1,013,891 |
Bargains And Blessings Willmar, MN | $205,621 | $647,975 |