Civic Intelligence

Housing Works Thrift Shop Inc

EIN 13-3676157 • 501(c)3 • Brooklyn, NY

Profile

Housing works thrift shop,inc. Was organized for the benefit of, to perform the functions of, and to carry out the purposes of providing relief, assistance and financial support, directly or indirectly, to homeless persons living with aids or hiv-related illnesses. Housing works thrift shops receives donated goods from members of the general public and sells these items from thirteen shops located throughout new york city.

57 Willoughby Street 2nd FLBrooklyn, NY 11201

www.shop.housingworks.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.48x

Higher debt load relative to assets than 73% of similar nonprofits.

NTEE P • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

0.99x

Higher debt load relative to revenue than 88% of similar nonprofits.

NTEE P • $25M-$50M nonprofits • Source year 2024

Net Margin

58th percentile

4.5%

Higher net margin than 58% of similar nonprofits.

NTEE P • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

83rd percentile

$473,511

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

NTEE P • $25M-$50M nonprofits • Source year 2024

Asset Growth

68th percentile

12%

Faster asset growth than 68% of similar nonprofits.

NTEE P • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

14th percentile

-6.0%

Faster revenue growth than 14% of similar nonprofits.

NTEE P • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$31,025,874

Up $3,373,416 (+12%) from 2023

Liabilities

Up

$14,759,172

Up $2,711,836 (+23%) from 2023

Net Assets

Up

$16,266,702

Up $661,580 (+4.2%) from 2023

Revenue

Down

$14,858,661

Down $950,558 (-6.0%) from 2023

Expenses

Up

$14,197,081

Up $1,059,294 (+8.1%) from 2023

Net Income

Down

$661,580

Down $2,009,852 (-75%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $8,324,243Liabilities 2010: $1,228,731Net Assets 2010: $7,095,5122010Assets 2011: $9,776,866Liabilities 2011: $1,047,501Net Assets 2011: $8,729,3652011Assets 2012: $9,597,151Liabilities 2012: $829,870Net Assets 2012: $8,767,2812012Assets 2013: $10,450,202Liabilities 2013: $1,642,449Net Assets 2013: $8,807,7532013Assets 2014: $10,806,338Liabilities 2014: $1,611,031Net Assets 2014: $9,195,3072014Assets 2015: $11,183,364Liabilities 2015: $1,879,827Net Assets 2015: $9,303,5372015Assets 2016: $10,612,063Liabilities 2016: $1,322,533Net Assets 2016: $9,289,5302016Assets 2017: $10,753,337Liabilities 2017: $1,414,619Net Assets 2017: $9,338,7182017Assets 2018: $12,703,239Liabilities 2018: $1,676,558Net Assets 2018: $11,026,6812018Assets 2019: $14,720,605Liabilities 2019: $1,553,157Net Assets 2019: $13,167,4482019Assets 2020: $12,565,738Liabilities 2020: $1,483,520Net Assets 2020: $11,082,2182020Assets 2021: $24,908,354Liabilities 2021: $14,377,822Net Assets 2021: $10,530,5322021Assets 2022: $27,776,484Liabilities 2022: $14,842,792Net Assets 2022: $12,933,6922022Assets 2023: $27,652,458Liabilities 2023: $12,047,336Net Assets 2023: $15,605,1222023Assets 2024: $31,025,874Liabilities 2024: $14,759,172Net Assets 2024: $16,266,7022024

Highlighted filing

2024

Assets$31,025,874
Liabilities$14,759,172
Net Assets$16,266,702

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $28,130,0252010Revenue 2011: $28,739,198Expenses 2011: $27,105,345Net Income 2011: $1,633,8532011Revenue 2012: $32,562,182Expenses 2012: $32,524,266Net Income 2012: $37,9162012Revenue 2013: $17,263,869Expenses 2013: $17,227,564Net Income 2013: $36,3052013Revenue 2014: $19,396,889Expenses 2014: $19,009,335Net Income 2014: $387,5542014Revenue 2015: $17,277,464Expenses 2015: $17,168,964Net Income 2015: $108,5002015Revenue 2016: $17,876,666Expenses 2016: $17,890,673Net Income 2016: -$14,0072016Revenue 2017: $18,079,199Expenses 2017: $18,030,011Net Income 2017: $49,1882017Revenue 2018: $16,465,180Expenses 2018: $14,777,217Net Income 2018: $1,687,9632018Revenue 2019: $16,124,546Expenses 2019: $13,983,779Net Income 2019: $2,140,7672019Revenue 2020: $10,523,241Expenses 2020: $12,608,471Net Income 2020: -$2,085,2302020Revenue 2021: $9,982,501Expenses 2021: $10,632,237Net Income 2021: -$649,7362021Revenue 2022: $14,313,583Expenses 2022: $11,910,423Net Income 2022: $2,403,1602022Revenue 2023: $15,809,219Expenses 2023: $13,137,787Net Income 2023: $2,671,4322023Revenue 2024: $14,858,661Expenses 2024: $14,197,081Net Income 2024: $661,5802024

Highlighted filing

2024

Revenue$14,858,661
Expenses$14,197,081
Net Income$661,580

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$31.0$14.8$16.3$14.9$14.2$0.66
2023Detailed filing. Detailed filing data is available for this year.$27.7$12.0$15.6$15.8$13.1$2.67
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.8$14.8$12.9$14.3$11.9$2.40
2021Detailed filing. Detailed filing data is available for this year.$24.9$14.4$10.5$9.98$10.6$0.65
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.6$1.48$11.1$10.5$12.6$2.09
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.7$1.55$13.2$16.1$14.0$2.14
2018Detailed filing. Detailed filing data is available for this year.$12.7$1.68$11.0$16.5$14.8$1.69
2017Detailed filing. Detailed filing data is available for this year.$10.8$1.41$9.34$18.1$18.0$0.05
2016Detailed filing. Detailed filing data is available for this year.$10.6$1.32$9.29$17.9$17.9$0.01
2015Summary only. Only limited summary data is available for this year.$11.2$1.88$9.30$17.3$17.2$0.11
2014Summary only. Only limited summary data is available for this year.$10.8$1.61$9.20$19.4$19.0$0.39
2013Summary only. Only limited summary data is available for this year.$10.5$1.64$8.81$17.3$17.2$0.04
2012Summary only. Only limited summary data is available for this year.$9.60$0.83$8.77$32.6$32.5$0.04
2011Summary only. Only limited summary data is available for this year.$9.78$1.05$8.73$28.7$27.1$1.63
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.32$1.23$7.10$28.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$30,458,962
Mission and Program Overview

Mission

Housing works thrift shop, inc. Was organized for the benefit of, to perform the functions of, and to carry out the purposes of providing relief, assistance and financial support, directly or indirectly... (cont on schedule o).

Thrift shops to provide support to homeless persons living with aids or hiv-related illnesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$10,446,506$13,102,127▲ $2,655,621
Inventories for Sale or Use$3,723,063$3,702,259▼ $20,804
Cash and Non-Interest-Bearing Accounts$843,145$1,710,765▲ $867,620
Land, Buildings, and Equipment, Net$259,507$255,935▼ $3,572
Prepaid Expenses and Deferred Charges$232,094$226,448▼ $5,646
Total Assets$27,652,458$31,025,874▲ $3,373,416
Other Assets Total$12,148,143$12,028,340▼ $119,803
Liabilities
Other Liabilities$11,336,779$14,014,912▲ $2,678,133
Accounts Payable and Accrued Expenses$710,557$744,260▲ $33,703
Total Liabilities$12,047,336$14,759,172▲ $2,711,836
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,605,122$16,266,702▲ $661,580
Total Net Assets Fund Balance$15,605,122$16,266,702▲ $661,580
Total Liabilities and Net Assets / Fund Balance$27,652,458$31,025,874▲ $3,373,416

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$150,342$1,632,396$1,782,738
Equipment$100,089-$100,089
Buildings$5,504$2,176$7,680
Other Assets Org$870,780--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Matthew BernardoChief Operating Officer /chair
Charles KingPresident & CEO
Fabrice HoudartVice Chair
Tucker BellingrathVice Chair
Bruce StarrBoard Member
Cathy TorelliBoard Member
E O'BRIEN KELLEYBoard Member
Guia GoldenBoard Member
Jennifer FoyleBoard Member
Lisle RichardsBoard Member
Matthew MarchakBoard Member
Mia MorettiBoard Member
Michael S Gordon EsqBoard Member
Neil PirieBoard Member
Norma MascarottiBoard Member
Paul MunkholmBoard Member
Sally ShawBoard Member
Stephen FerraraBoard Member
Steven HornBoard Member
William J Gilbane IiiBoard Member
Yasmine JorgeBoard Member
Yetta BanksBoard Member
Jolanta IlczukChief Financial Officer/secretary
Jeffrey TouseyTreasurer
Cheryl GrimmVP Thrift Shops

Highest Paid Contractors

ContractorServicesLocationCompensation
Piece Of Cake Moving And Storage LLCMoving And Storage10-15 46TH AVE, Queens, NY 11101$221,446
The Goodkind Group LLCStaffing275 MADISON AVE 5TH FLOOR, New York, NY 10016$153,009
Graff Speed Trucking CorpFreight Carrier188 WILDER ST, Hillside, NJ 07205$149,920
Va Trucking INCFreight Carrier19 ARI DR SUITE E, Somerset, NJ 08873$120,625
Tempositions INCStaffing622 3RD AVE 39TH FLOOR, New York, NY 10017$112,490
Revenue and Support

Revenue Composition

Contributions and Grants
$15,850,263
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-991,602
All Other Contributions
$14,598,222
Change in Net Assets
$661,580

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported AmountValuation Method
Clothing and Household Goods$14,395,269Sales Price
Total Noncash Contributions$14,395,269-

Audited Revenue Reconciliation

Revenue per Audited Statements
$30,458,962
Revenue Not Reported on Financial Statements
$-15,600,301
Revenue Not Reported on Form 990
$159,724,978
Other Revenue Adjustments
$-15,600,301
Total Revenue per Audited Statements
$190,183,940
Total Revenue per Form 990
$14,858,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,197,081
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$5,352,965$1,335,726-$6,688,691
Travel$3,904,849--$3,904,849
Fees for Services Other$1,490,302--$1,490,302
Office Expenses$525,182--$525,182
Interest$269,177--$269,177
Payment Travel Entrtnmnt Publicly Ofcl$193,407--$193,407
Insurance$133,907--$133,907
Depreciation Depletion$103,661--$103,661
Advertising$102,033--$102,033
All Other Expenses$31,309--$31,309
Fees for Services Legal$10,822--$10,822
Other Expenses$6,066--$6,066
Total Functional Expenses$12,861,355$1,335,726$0$14,197,081

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$193,304,185
Expenses Not Reported on Form 990$179,107,104
Expenses per Audited Statements$14,197,081
Total Expenses per Form 990$14,197,081
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$957,226
Fundraising Gross Income$78,292
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Groundbreakers$404,147$54,912$241,790$-186,878
Design on a Dime$687,913$16,706$656,870$-640,164
Total Events$1,330,333$78,292$957,226$-878,934
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liability$13,870,880
Other Liabilities$144,032
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has one member (the "member"), which is housing works, inc. The member shall exercise its membership rights and obligations through a majority of its board of directors and any meeting at which a quorum is present, or through an individual that the member's board of directors appoints to act as the member in accordance with its instructions.

Form 990, Part VI, Section A, Line 7A

The organization has one member (the "member"), which is housing works, inc. The member shall exercise its membership rights and obligations through a majority of its board of directors and any meeting at which a quorum is present, or through an individual that the member's board of directors appoints to act as the member in accordance with its instructions.

Form 990, Part VI, Section B, Line 11B

The organization's form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was made available to the board of directors for their review. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

The organization operates under the conflict of interest policy of its parent organization, housing works, inc. Each officer, director, trustee and key employee of the organization is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with housing works, inc. Housing works, inc. Monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.

Form 990, Part VI, Section B, Line 15

The organization does not provide any compensation paid to the individuals listed on part vii of the form 990. Compensation paid to these individuals is paid by related organizations, either housing works, inc. Or housing works health services iii, inc. The process used to determine the compensation of these individuals is reported on housing works, inc's form 990.

Form 990, Part VI, Section C, Line 19

The organization makes its form 990 available to the public by retaining a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements are published on the organization's website. The governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.

Filing and Contact Details

Filer

Filer Name
Housing Works Thrift Shop Inc
EIN
13-3676157
Phone
3474737400
Address
57 WILLOUGHBY STREET 2ND FL, BROOKLYN, NY 11201

Signing Officer

Name
Ian Hanley
Title
CFO
Phone
3474737400
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles King
Formed
1991
Legal Domicile
Ny
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
21

Preparer

Firm
Cohnreznick Advisory LLC
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Lori Rothe Yokobosky
Phone
2122970400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contracted services: program service expenses 1,490,302. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,490,302.

FORM 990, PART XII, LINE 3:

The accounts of housing works, inc. And its affiliates are audited by an independent accountant and are consolidated for financial statement purposes. In addition, the organization as a whole meets the requirement of an audit as set forth in the single audit act and omb circular a-133. Each affiliate on its own may not meet the requirement but this question was answered yes on each affiliate as housing works, inc. And its affiliates on the whole met the requirement and obtained an audit according to the act.

Financial Statement Notes

PART X, LINE 2:

The organization follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to consolidated financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the consolidated financial statements if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. Management has analyzed the tax positions taken by the organization and has concluded that, as of june 30, 2024, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability or asset or disclosure in the consolidated financial statements. The organization's federal and state information returns filed prior to fiscal year 2021 are closed. Management continually evaluates expiring statutes of limitations, audits, proposed settlements,

PART XI, LINE 2D - OTHER ADJUSTMENTS:

From related organizations 163,639,779. Other eliminations -3,914,801.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Cost of goods sold -14,643,075. Fundraising expenses -957,226.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

From related organizations 164,921,604. Other eliminations -1,414,801. Cost of goods sold 14,643,075. Fundraising expenses 957,226.

Raw XML AppendixShowing 400 of 1,035 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE HOUSING WORKS THRIFT SHOP, INC. OCCUPY THIRTEEN UPSCALE LOCATIONS IN NEW YORK CITY, SELLING HIGH-END VINTAGE TREASURES TO BARGAIN HUNTERS AND FASHIONISTAS ALIKE. THE THRIFT SHOPS RECEIVED APPROXIMATELY $10 MILLION IN DONATED GOODS THAT WERE ULTIMATELY SOLD IN ITS STORES. ALL FUNDS RECEIVED ARE USED TO ASSIST HOMELESS PERSONS WITH AIDS AND HIV-RELATED ILLNESSES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP THRIFT SHOPS
IRS990/Form990PartVIISectionAGrp/TitleTxt23CHIEF FINANCIAL OFFICER/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt24CHIEF OPERATING OFFICER /CHAIR
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IRS990/MissionDesc0HOUSING WORKS THRIFT SHOP, INC. WAS ORGANIZED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF PROVIDING RELIEF, ASSISTANCE AND FINANCIAL SUPPORT, DIRECTLY OR INDIRECTLY TO HOMELESS PERSONS LIVING WITH AIDS OR HIV-RELATED ILLNESSES. HOUSING WORKS THRIFT SHOPS RECEIVES DONATED GOODS FROM MEMBERS OF THE GENERAL PUBLIC AND SELLS THESE ITEMS FROM THIRTEEN SHOPS LOCATED THROUGHOUT NEW YORK CITY.
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