Civic Intelligence

Hopes Closet

990 • Fiscal year 2022 • EIN 47-3922125

Sep 01, 2021 to Aug 31, 2022 • Filed on Oct 15, 2022

Organization Profilewww.hopes-closet.net
9850 Princeton-Glendale Road STE CCincinnati, OH 45246

(513) 432-3486

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

74th percentile

0.04x

Higher debt load relative to assets than 74% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

73rd percentile

0.03x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

58th percentile

9.8%

Higher net margin than 58% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

89th percentile

$36,534

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 7.6% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

71st percentile

19%

Faster asset growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

62nd percentile

26%

Faster revenue growth than 62% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$317,909

Up $51,305 (+19%) from 2021

Net Assets

Up

$305,359

Up $47,337 (+18%) from 2021

Liabilities

Up

$12,550

Up $3,968 (+46%) from 2021

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin58th percentile

Revenue

Up

$481,719

Up $100,258 (+26%) from 2021

Expenses

Up

$434,382

Up $65,717 (+18%) from 2021

Net Income

Up

$47,337

Up $34,541 (+270%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2017: $74,100Liabilities 2017: $0Net Assets 2017: $74,1002017Assets 2018: $113,797Liabilities 2018: $0Net Assets 2018: $113,7972018Assets 2019: $199,409Liabilities 2019: $0Net Assets 2019: $199,4092019Assets 2020: $251,758Liabilities 2020: $6,533Net Assets 2020: $245,2252020Assets 2021: $266,604Liabilities 2021: $8,582Net Assets 2021: $258,0222021Assets 2022: $317,909Liabilities 2022: $12,550Net Assets 2022: $305,3592022Assets 2023: $359,863Liabilities 2023: $3,278Net Assets 2023: $356,5852023Assets 2024: $359,083Liabilities 2024: $8,357Net Assets 2024: $350,7262024

Highlighted filing

2022

Assets$317,909
Liabilities$12,550
Net Assets$305,359
Open 2022 Filing

Operations Trend

Revenue Growth62nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2017: $69,276Expenses 2017: $42,948Net Income 2017: $26,3282017Revenue 2018: $156,766Expenses 2018: $117,069Net Income 2018: $39,6972018Revenue 2019: $280,736Expenses 2019: $195,124Net Income 2019: $85,6122019Revenue 2020: $341,233Expenses 2020: $236,522Net Income 2020: $104,7112020Revenue 2021: $381,461Expenses 2021: $368,665Net Income 2021: $12,7962021Revenue 2022: $481,719Expenses 2022: $434,382Net Income 2022: $47,3372022Revenue 2023: $474,090Expenses 2023: $469,668Net Income 2023: $4,4222023Revenue 2024: $529,365Expenses 2024: $535,224Net Income 2024: -$5,8592024

Highlighted filing

2022

Revenue$481,719
Expenses$434,382
Net Income$47,337
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
Oct 15, 2022
Return Version
2021v4.2
Gross Receipts
$481,719
Mission and Program Overview

Mission

Hope's Closet is a volunteer organization created out of a need to provide clothing and other necessary items to foster children, kinship and birth families in Butler County and surrounding areas.

Hopes Closet is a foster care support organization that provides critical services through clothing boutique, training classes, support groups, family events and recruitment of foster parents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$258,022$305,359▲ $47,337
Cash and Non-Interest-Bearing Accounts$228,582$287,403▲ $58,821
Accounts Receivable$31,186$30,506▼ $680
Total Assets$266,604$317,909▲ $51,305
Other Assets Total$6,836--
Liabilities
Accounts Payable and Accrued Expenses$8,582$12,550▲ $3,968
Total Liabilities$8,582$12,550▲ $3,968
Net Assets / Fund Balance
Total Net Assets Fund Balance$258,022$305,359▲ $47,337
Total Liabilities and Net Assets / Fund Balance$266,604$317,909▲ $51,305
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mark PhairExecutive DirectorFT$36,534$36,534
Judy NelsonMemberPT$16,365$16,365

Board Members and Trustees

NameTitle
Melanie BauerBoard Chair
Kelly Low-GeoppingerMember
Melissa HutzelmanMember
Richard VogsbergerMember
William MorrisonMember
Erika J KalnaiSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$481,719
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$81,167
Change in Net Assets
$47,337
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$243,333
Salaries, Compensation, and Employee Benefits$191,049
Total Fundraising Expense$23,172
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$88,620$36,135$15,952$140,707
Occupancy$99,099$24,775-$123,874
Current Officers, Directors, Trustees, and Key Employees-$36,534-$36,534
Payroll Taxes$6,779$5,809$1,220$13,808
Other Expenses$71,978$12,820-$12,820
Fees for Services Accounting-$7,800-$7,800
Office Expenses$5,670$1,440-$7,110
Fees for Services Legal--$6,000$6,000
Insurance$3,840$960-$4,800
All Other Expenses-$2,500-$2,500
Fees for Services Management-$2,400-$2,400
Total Functional Expenses$279,067$132,143$23,172$434,382
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Copies of form 990 PF are kept on file at entitys office and are available for review upon request.”

Conflict of interest policy compliance Part VI line 12C

“Compliance with the Conflict of Interest Policy is monitored”

CEO executive director top management comp Part VI line 15A

“Board uses a valid Not for Profit Compensationreport and customized not for profit salary report.”

Other officer or key employee compensation Part VI line 15B

“Board uses a valid Not for Profit Compensationreport and a customized not ofr profit salary report.”

Governing documents etc available to public Part VI line 19

“copies of IRS form 990 are kept at the entitys office and are available for review upon request within 3 Weeks.”

Filing and Contact Details

Filer

Filer Name
Hopes Closet Inc
EIN
47-3922125
Address
9850 Princeton-Glendale Road STE C, Cincinnati, OH 45246

Signing Officer

Name
Erika J Kalnai
Title
President
Phone
5135948805
Signed
2022-10-15
Discuss with paid preparer
No

Organization Details

Formed
2017
Legal Domicile
Oh
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Abacus Tax Service Inc
Address
234 South Main Street, Monroe, OH 45050
Preparer
Mark E Garver E A
Phone
5135399784
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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/TotalAssetsEOYAmt0317909
IRS990/TotalAssetsGrp/BOYAmt0266604
IRS990/TotalAssetsGrp/EOYAmt0317909
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0481719
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt023172
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0132143
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0279067
IRS990/TotalFunctionalExpensesGrp/TotalAmt0434382
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08582
IRS990/TotalLiabilitiesEOYAmt012550
IRS990/TotalLiabilitiesGrp/BOYAmt08582
IRS990/TotalLiabilitiesGrp/EOYAmt012550
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0258022
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0305359
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0279067
IRS990/TotalReportableCompFromOrgAmt052899
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0481719
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0266604
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0317909
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0https://www.hopes-closet.net
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Erika J Kalnai
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum05135948805
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Hopes Closet Inc
ReturnHeader/Filer/BusinessNameControlTxt0HOPE
ReturnHeader/Filer/EIN0473922125
ReturnHeader/Filer/USAddress/AddressLine1Txt09850 Princeton-Glendale Road STE C
ReturnHeader/Filer/USAddress/CityNm0Cincinnati
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd045246
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0311320858
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Abacus Tax Service Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0234 South Main Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Monroe
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd045050
ReturnHeader/PreparerPersonGrp/PhoneNum05135399784
ReturnHeader/PreparerPersonGrp/PreparationDt02023-04-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Mark E Garver E A
ReturnHeader/ReturnTs02023-04-28T09:30:11-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Erika
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Kalnai
ReturnHeader/TaxPeriodBeginDt02021-09-01
ReturnHeader/TaxPeriodEndDt02022-08-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$317,909
Liabilities
$12,550
Net assets
$305,359
Revenue
$481,719
Expenses
$434,382
Net income
$47,337
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.59$0.08$3.51$5.29$5.35$0.06
2023Detailed filing. Detailed filing data is available for this year.$3.60$0.03$3.57$4.74$4.70$0.04
2022Detailed filing. Detailed filing data is available for this year.$3.18$0.13$3.05$4.82$4.34$0.47
2021Detailed filing. Detailed filing data is available for this year.$2.67$0.09$2.58$3.81$3.69$0.13
2020Summary only. Only limited summary data is available for this year.$2.52$0.07$2.45$3.41$2.37$1.05
2019Detailed filing. Detailed filing data is available for this year.$1.99$0.00$1.99$2.81$1.95$0.86
2018Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$1.57$1.17$0.40
2017Summary only. Only limited summary data is available for this year.$0.74$0.00$0.74$0.69$0.43$0.26