Veterans Community Thrift Store
- Assets
- $569.7k
- Revenue
- $273.6k
- Investments
- $0.0
- Employees
- 27
- Location
- Hibbing, MN
- Founding
- 11/2016
- Data as of
- 12/2022
- 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 12/2022, Veterans Community Thrift Store employed 27 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 12/2022, Veterans Community Thrift Store generated $273.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $313.2k during the year ending 12/2022. 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
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 |
|---|---|---|---|
Ben Mancini Chair | OfficerTrustee | 1 | $0 |
Bill Bean Finance Director | OfficerTrustee | 1 | $0 |
Gary Oie Director | Trustee | 1 | $0 |
Linda Salo Sec/director | Trustee | 1 | $0 |
Marsha Grahek Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $278,689 |
| Noncash contributions included in lines 1a–1f | $276,296 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $278,689 |
| Total Program Service Revenue | $0 |
| Investment income | $234 |
| 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 | -$5,283 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $273,640 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,751 |
| Grants and other assistance to domestic individuals. | $2,556 |
| 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 | $192,627 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,099 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,210 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $550 |
| Advertising and promotion | $2,128 |
| Office expenses | $11,639 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,524 |
| Travel | $1,993 |
| 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 | $13,329 |
| Insurance | $6,024 |
| All other expenses | $0 |
| Total functional expenses | $313,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $127,434 |
| Savings and temporary cash investments | $35,152 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $428 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $188,466 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $218,227 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $569,707 |
| Accounts payable and accrued expenses | $4,299 |
| 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 | $4,299 |
| Net assets without donor restrictions | $565,408 |
| 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 | $569,707 |
Grants Awarded
Over the last fiscal year, Veterans Community Thrift Store has awarded $23,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED WAY OF NE MN PURPOSE: VETERAN RELATED | $16,500 |
MID-RANGE HONOR GUARD PURPOSE: VETERAN/MILITARY RELATED | $7,000 |