Castaways Thrift Co
- Assets
- $30.4k
- Revenue
- $233.3k
- Investments
- $0.0
- Employees
- 16
- Location
- Stokesdale, NC
- Founding
- 09/2018
- Data as of
- 07/2024
- EIN
- 82-2508760
Organization Overview
Castaways Thrift Co, operating under the name Castaways Thrift, is located in Stokesdale, NC. The organization was established in 2018. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 07/2024, Castaways Thrift employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Castaways Thrift 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 07/2024, Castaways Thrift generated $233.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $219.2k during the year ending 07/2024. While expenses have increased by 13.4% per year over the past 7 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
CASTAWAYS THRIFT CO. IS A 5,000 SQUARE FOOT THRIFT STORE THAT EXISTS TO FULFILL A THREE PART MISSION. FIRST WE SEEK TO REDUCE OVERALL LANDFILL WASTE BY PROVIDING A BETTER ALTERNATIVE TO THE COMMUNITY A PLACE WHERE THEY CAN BRING UNWANTED ITEMS RATHER THAN THROWING THEM AWAY. SECONDLY THE CLOTHING AND HOUSEHOLD ITEMS THAT WE RECEIVE FROM THE COMMUNITY ARE PRICED AND PUT OUT FOR SALE ALLOWING PEOPLE TO PAY DRASTICALLY REDUCED PRICES OF 50% - 90% BELOW ORIGINAL RETAIL COST. THIS IS A GREAT BENEFIT TO THE LOW-INCOME INDIVIDUALS OF OUR SMALL TOWN MADISON NC. AND LASTLY WITH WHATEVER PROCEEDS CASTAWAYS THRIFT CO. GENERATES WE SEEK TO PROVIDE FINANCIAL SUPPORT TO CHRISTIAN SUBSTANCE ABUSE PROGRAMS IN ORDER TO HELP INDIVIDUALS OVERCOME DRUG AND ALCOHOL ADDICTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROCEEDS FROM CASTAWAYS THRIFT CO. ARE BEING SENT TO TWO CHRISTIAN SUBSTANCE-ABUSE REHAB CENTERS: SOLUS CHRISTUS A SAFE-HOUSE PROVIDING SHORT-TERM CARE AND GENESIS MINISTRIES A HOME FOR WOMEN SEEKING LONG-TERM REHABILITATION. SOLUS CHRISTUS PROVIDES A WARM AND LOVING CHRISTIAN ENVIRONMENT WHILE ASSISTING WOMEN IN THE LENGTHY AND TEDIOUS PROCESS OF APPLYING TO LONG-TERM TREATMENT PROGRAMS. AND GENESIS MINISTRIES IS ONE OF THE AFOREMENTIONED LONG-TERM TREATMENT PROGRAMS THAT ASSISTS WOMEN IN THEIR JOURNEY TO FREEDOM FROM ADDICTION. MANY PEOPLE COME THROUGH THE DOORS OF CASTAWAYS THRIFT LOOKING FOR PRAYER AND DIRECTION FOR THEMSELVES OR FOR A LOVED ONE TRAPPED IN ADDICTION AND IT HAS BEEN OUR GREAT PRIVILEGE TO PRAY WITH THEM AND TO DIRECT THEM TO THE HELP THAT SOLUS CHRISTUS AND GENESIS MINISTRIES HUMBLY OFFERS.
THIS FISCAL YEAR CASTAWAYS THRIFT CO. SUCCESSFULLY TOOK IN COPIOUS AMOUNTS OF DONATIONS FROM THE COMMUNITY EFFECTIVELY REDUCING EXCESS WASTE IN OUR LANDFILLS.
THE LOCAL COMMUNITY HAS BEEN APPRECIATIVE OF OUR WELL-ORGANIZED THRIFT STORE AND THE LOW PRICES WE ARE ABLE TO PROVIDE ENABLING THEM TO "STRETCH" THEIR DOLLAR ON NEEDED CLOTHING AND HOUSEHOLD ITEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Newman Executive Director Store Manager | OfficerTrustee | 40 | $33,296 |
Rhonda Vice Secretary | OfficerTrustee | 0.3 | $0 |
Cindy Barnes Treasurer | OfficerTrustee | 0.3 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $233,303 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $233,303 |
| 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. | $33,808 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,880 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,939 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $232 |
| Office expenses | $2,496 |
| Information technology | $807 |
| Royalties | $0 |
| Occupancy | $37,532 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,408 |
| All other expenses | $3,757 |
| Total functional expenses | $219,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,353 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,353 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $30,353 |
| Total liabilities and net assets/fund balances | $30,353 |