New Nearly New Inc is located in Durham, NC. 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, New Nearly New Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Nearly New 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, New Nearly New Inc generated $560.9k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 64.7% each year . All expenses for the organization totaled $579.3k 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
NEW NEARLY NEW WELCOMES YOUR DONATIONS OF CLOTHING, AND OTHER ITEMS SUCH AS HOUSEHOLD GOODS, JEWELRY AND FURNITURE. OUR GOAL IS TO GIVE FREE CLOTHING AND OTHER ITEMS TO PEOPLE IN NEED IN THE DURHAM COMMUNITY AND NORTH CAROLINA COMMUNITY. TO SUPPORT OUR ENDEAVOR, WE WILL SELL A PORTION OF THE DONATED ITEMS IN OUR THRIFT STORE. OUR INTENTION IS TO GIVE AWAY AT LEAST ONE ITEM FOR EVERY ITEM SOLD. WE WILL RELY ON PARTNER ORGANIZATIONS WHO IDENTIFY AND WORK WITH THOSE IN NEED IN OUR COMMUNITY TO DISTRIBUTE OUR ITEMS FOR FREE. WE ALSO WELCOME YOUR CASH AND IN KIND DONATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2022 WAS A CONTINUATION OF THE GROWTH SEEN IN 2021. WE CONTINUED TO DEVELOP RELATIONSHIPS WITH CUSTOMERS, DONORS AND PARTNERS. WE CONTINUED OUR VISION TO SERVE OUR COMMUNITY BOTH LOCALLY AND STATE-WIDE. OUR GOAL TO GIVE AWAY ONE ITEM FOR EVERY ITEM SOLD IS COMING TO FRUITION WHILE PROVIDING JOBS TO A FEW INDIVIDUALS, PROVIDING VOLUNTEER OPPORTUNITIES TO SOME, PROVIDE A GOOD, CLEAN, SAFE PLACE TO DONATE ITEMS (BOTH NEW AND USED) AND IMPORTANTLY TO OFFER A PLACE FOR OUR COMMUNITY TO SHOP AT REDUCED RATES FOR CLOTHES AND HOUSEHOLD ITEMS. WE WERE ABLE TO ASSIST 4,306 CUSTOMERS WITH 99,862 ITEMS IN 2022. ALL OF OUR REVENUE IS GARNERED FROM THE SALE OF THE ITEMS WHICH IN TURN SUPPORTS OPERATING EXPENSES OF THE FACILITY.WE DONATED THE FOLLOWING ITEMS TO OUR PARTNER ORGANIZATIONS:- ANIMAL SHELTER: 180.6 POUNDS; 145.65 ITEMS- CATHOLIC CHARITIES: 14 ITEMS- DURHAM RESCUE MISSION: 257 ITEMS- WORLD RELIEF DURHAM: 42 ITEMS- HOLY TRINITY LUTHERAN CHURCH: 307.16 POUNDS; 247.71 ITEMS- DAR: 122.34 POUNDS; 130.66 ITEMS- DURHAM BIKE CO-OP: 4 ITEMS- WESTERN CAROLINA: 32,766.22 POUNDS; 9998.36 ITEMS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lisa G Clark Secretary / Store Manager | OfficerTrustee | 40 | $69,912 |
W Lowry Caudill Chair | OfficerTrustee | 10 | $0 |
Charles E Boatright Vice Chair | OfficerTrustee | 5 | $0 |
Stacey R Mccorison Treasurer | OfficerTrustee | 10 | $0 |
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 | $179,625 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $179,625 |
Total Program Service Revenue | $381,237 |
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 | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $560,862 |
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. | $80,264 |
Compensation of current officers, directors, key employees. | $40,132 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $193,446 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $49,935 |
Payroll taxes | $23,754 |
Fees for services: Management | $0 |
Fees for services: Legal | $139 |
Fees for services: Accounting | $4,786 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $23,769 |
Office expenses | $18,344 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $162,333 |
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 | $5,761 |
Insurance | $3,304 |
All other expenses | $0 |
Total functional expenses | $579,293 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $15,835 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,088 |
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 | $75,641 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $92,564 |
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 | $92,564 |
Total liabilities and net assets/fund balances | $92,564 |