Civic Intelligence

Castaways Thrift Co

990 • Fiscal year 2025 • EIN 82-2508760

Aug 01, 2024 to Jul 31, 2025 • Filed on Dec 16, 2025

111 Pipsisewa LaneStokesdale, NC 27357

(336) 644-4185

Siviq Scores

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

Liabilities / Assets

65th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2025 filings • NTEE P • <$500k nonprofits • Source year 2025

Liabilities / Revenue

66th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2025 filings • NTEE P • <$500k nonprofits • Source year 2025

Net Margin

40th percentile

1.0%

Higher net margin than 40% of similar nonprofits.

2025 filings • NTEE P • <$500k nonprofits • Source year 2025

Top Officer Pay

93rd percentile

$34,824

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

2025 filings • NTEE P • <$500k nonprofits • Source year 2025

Asset Growth

57th percentile

7.9%

Faster asset growth than 57% of similar nonprofits.

2025 filings • NTEE P • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

48th percentile

2.3%

Faster revenue growth than 48% of similar nonprofits.

2025 filings • NTEE P • <$500k nonprofits • Annualized from 2024 to 2025

Assets

Up

$32,749

Up $2,396 (+7.9%) from 2024

Net Assets

Up

$32,749

Up $2,396 (+7.9%) from 2024

Liabilities

Flat

$0

Flat from 2024

Revenue

Up

$238,574

Up $5,271 (+2.3%) from 2024

Expenses

Up

$236,178

Up $17,020 (+7.8%) from 2024

Net Income

Down

$2,396

Down $11,749 (-83%) from 2024

Historical Trend

Balance Sheet Trend

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

$40K$30K$20K$10K$0-$10KAssets 2018: $11,767Liabilities 2018: $15,416Net Assets 2018: -$3,6492018Assets 2019: $8,577Liabilities 2019: $765Net Assets 2019: $7,8122019Assets 2020: $27,705Liabilities 2020: $0Net Assets 2020: $27,7052020Assets 2021: $28,501Net Assets 2021: $28,5012021Assets 2022: $29,222Liabilities 2022: $0Net Assets 2022: $29,2222022Assets 2023: $16,208Liabilities 2023: $0Net Assets 2023: $16,2082023Assets 2024: $30,353Liabilities 2024: $0Net Assets 2024: $30,3532024Assets 2025: $32,749Liabilities 2025: $0Net Assets 2025: $32,7492025

Highlighted filing

2025

Assets$32,749
Liabilities$0
Net Assets$32,749

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2018: $87,390Expenses 2018: $91,039Net Income 2018: -$3,6492018Revenue 2019: $124,942Expenses 2019: $113,481Net Income 2019: $11,4612019Revenue 2020: $140,765Expenses 2020: $121,637Net Income 2020: $19,1282020Revenue 2021: $169,636Expenses 2021: $168,840Net Income 2021: $7962021Revenue 2022: $203,438Expenses 2022: $202,717Net Income 2022: $7212022Revenue 2023: $232,342Expenses 2023: $245,356Net Income 2023: -$13,0142023Revenue 2024: $233,303Expenses 2024: $219,158Net Income 2024: $14,1452024Revenue 2025: $238,574Expenses 2025: $236,178Net Income 2025: $2,3962025

Highlighted filing

2025

Revenue$238,574
Expenses$236,178
Net Income$2,396
Jump To
Filing Snapshot
Filing Period
Aug 1, 2024 to Jul 31, 2025
Signed
Dec 16, 2025
Return Version
2024v5.1
Gross Receipts
$238,574
Mission and Program Overview

Mission

Castaways Thrift Co. is a 5000 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 percentage below original retail cost. This is a great benefit to the low-income individuals of our small town, Madison, NC. And lastly, with whatever profits castaways thrift Co. generates, we seek to provide financial support to Christian substance abuse program, in order to help individuals overcome drug and alcohol addiction

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$30,353$32,749▲ $2,396
Rtn Earn Endowment Incm Other Fnds$30,353$32,749▲ $2,396
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$30,353$32,749▲ $2,396
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$30,353$32,749▲ $2,396
Total Liabilities and Net Assets / Fund Balance$30,353$32,749▲ $2,396
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Heidi NewmanExecutive Director - Store ManagerFT$34,824$34,824

Board Members and Trustees

NameTitle
Rhonda ViceSecretary
Cindy BarnesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$238,574
All Other Contributions
$0
Change in Net Assets
$2,396
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$119,098
Other Expenses$117,080
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$68,624$0$0$68,624
Occupancy$44,705$0$0$44,705
Current Officers, Directors, Trustees, and Key Employees$39,975$0$0$39,975
Payroll Taxes$10,499$0$0$10,499
Other Expenses$3,659$0$0$3,659
Office Expenses$2,640$0$0$2,640
Fees for Services Accounting$1,550$0$0$1,550
Insurance$1,500$0$0$1,500
Information Technology$735$0$0$735
All Other Expenses$691$0$0$691
Advertising$388$0$0$388
Total Functional Expenses$236,178$0$0$236,178
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-A Director of Castaways Thrift is the sister of the owner of Midtown Furniture.Castaways Thrift leases a 5,000 sqft. retail space plus 1400 sqft. warehouse space from Midtown Furniture in the amount of $3260 month.No$39,120

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 2

Heidi Newman is an employee and an officer on the board. Rhonda Vice is an officer on the board. Heidi and Rhonda are cousins.

Part VI, Line 11A

I emailed them a copy of the form to review and waited until I had approval before e-filing the form.

Part VI, Line 12C

A Conflict of Interest Policy is completed annually by all Board Members. A Board member is excluded from voting on issues that could result in a personal benefit. There are annual reviews to ensure fair compensation & benefits to employees. And there is annual monitoring of financials including any partnerships & investments to ensure they are reasonable and to ensure that no employee or board member is unduly benefitting from any of these activities. If a new conflict of interest arises the individual is responsible for exposing it and for abstaining from final decision-making on the issue.

Part VI, Line 15

For Heidi Newmans position as Executive Director and Store Manager comparable national and state salaries were reviewed and compensation voted on by all uninterested parties.

Part VI, Line 19

Our documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Castaways Thrift Co
EIN
82-2508760
Phone
3366444185
Address
111 Pipsisewa Lane, Stokesdale, NC 27357

Signing Officer

Name
Heidi Newman
Title
Executive Director
Phone
3366444185
Signed
2025-12-16

Organization Details

Principal Officer
Heidi Newman
Formed
2017
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
2
Employees
16
Volunteers
2
Supplemental Narrative

Additional Explanations

Doing Business As Names

Castaways Thrift

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IRS990/ActivityOrMissionDesc0Castaways 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.
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IRS990/MissionDesc0Castaways 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.
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IRS990/NetAssetsOrFundBalancesEOYAmt032749
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IRS990/NoncashContributionsAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt00
IRS990/OccupancyGrp/ProgramServicesAmt044705
IRS990/OccupancyGrp/TotalAmt044705
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt02640
IRS990/OfficeExpensesGrp/TotalAmt02640
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
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IRS990/OtherExpensesGrp/Desc0Specific Assistance - Genesis Ministries
IRS990/OtherExpensesGrp/Desc1Specific Assistance - Solus Christus
IRS990/OtherExpensesGrp/Desc2credit card fees
IRS990/OtherExpensesGrp/Desc3Store improvements & fixtures
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
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IRS990/OtherExpensesGrp/ProgramServicesAmt133471
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IRS990/OtherExpensesGrp/ProgramServicesAmt33659
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IRS990/OtherExpensesGrp/TotalAmt133471
IRS990/OtherExpensesGrp/TotalAmt25450
IRS990/OtherExpensesGrp/TotalAmt33659
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt010499
IRS990/PayrollTaxesGrp/TotalAmt010499
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
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IRS990/PrincipalOfficerNm0Heidi Newman
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt40
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt30
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IRS990/ProgSrvcAccomActy2Grp/Desc0The 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.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt060139
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0Proceeds 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.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0115901
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00

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