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Nuway Thrift Store INC FY2020 filing

Kalamazoo, MIUnknown exempt organization EIN 38-2418366Revenue $340K in FY2020

On file with the IRS211 E Cork Street · Kalamazoo, MI

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To collect, resell, and distribute clothing and household goods to the general public at below market values.

91¢ of each $1 spent went to programs.
$55K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $102K a year · 25% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$55K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$30K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$340K
Spent
$312K
To programs
91%
Net assets
$232K
By yearFY2020–FY2021
Revenue
$340K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$340K
FY2021$494K
Expenses
$312K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$312K
FY2021$726K
Net assets
$232K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$232K
FY2021$0

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $283K Management & general 9% · $29K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $55K paid to officers and key staff.

Part VII, Section A · reportable compensation
Jon Clark
Executive Di
$55,140Pt VII · Sec A
$0Pt VII · Sec A
Darrell Roose
Treasurer
$0Pt VII · Sec A
Jake Jakobson
Secretary
$0Pt VII · Sec A
Marty Hodges
Director
$0Pt VII · Sec A
Roger Kraak
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
Jon Clark$113,507$55,140

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Nuway Thrift Store INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Sells and gives away used clothing and household items affordably.

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Provided by the organization

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1 program · $283K · in their own filed words · FY2020
01

Nuway receives used clothing and household goods from the general public as donations. The organization incurs expenses to sort and resell these items to the general public. Surplus funds are distributed to local non-profit organizations that serve youth and youth related ministries.

$283Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$340K
Ln 12
Fees for servicesLn 2g$337K
Investment incomeLn 3$2K
Other incomeLn 4–11$806
Money outPt IX
$312K
Ln 25
Programscol B$283K
Managementcol C$29K
Owns and owesPt X
$232K
net assets · Ln 32
Cash and savingsLn 1–2$253K
Total assetsLn 16$262K
LiabilitiesLn 26$30K
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$337K
Investment incomeLn 3$2K
Other incomeLn 4–11$806
Total revenueLn 12$340K
Assets in detailPt X, end of year
CashLn 1$253K
Cash and savings togetherLn 1–2$253K
Land, buildings, equipmentLn 10c$10K
Total assetsLn 16$262K
LiabilitiesLn 26$30K
Net assetsLn 32$232K
OperationsPt I, VI
EmployeesI 59
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$194K$253K
Land, buildings, equipmentLn 10c$11K$10K
Total assetsLn 16$205K$262K
LiabilitiesLn 26$0$30K
Net assetsLn 32$205K$232K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$55K$50K$6K
Other salaries and wagesLn 7$54K$49K$5K
Payroll taxesLn 10$34K$31K$3K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$227$227
Office expensesLn 13$7K$55$7K
OccupancyLn 16$82K$82K
Depreciation, depletion and amortizationLn 22$944$944
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$67K$67K
All other expensesLn 24e$4K$4K
Total functional expensesLn 25$312K$283K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $494K$726K−$232K$0 990 PDF
FY2020 Viewing $340K$312K$28K$232K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $339,529 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $321,174$336,839
I-10 Investment incomePrior year $1,612$1,884
I-11 Other revenuePrior year $960$806
I-12 Total revenuePrior year $323,746$339,529
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $146,987$143,646
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $141,390$168,333
I-18 Total expensesPrior year $288,377$311,979
I-19 Revenue less expensesPrior year $35,369$27,550
Part VI · Governance 5 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $339,529 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $336,839$336,839
VIII-3 Investment incomeExcluded from tax $1,884$1,884
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $806$806
VIII-12 Total revenueRelated to mission $337,645 · Excluded from tax $1,884$339,529
Part IX · Statement of functional expenses $311,979 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $49,626 · Management $5,514$55,140
IX-7 Other salaries and wagesPrograms $48,920 · Management $5,436$54,356
IX-10 Payroll taxesPrograms $30,735 · Management $3,415$34,150
IX-11c Accounting feesManagement $3,932$3,932
IX-12 Advertising and promotionPrograms $227$227
IX-13 Office expensesPrograms $55 · Management $7,028$7,083
IX-16 OccupancyPrograms $81,596$81,596
IX-22 Depreciation, depletion and amortizationPrograms $944$944
IX-23 InsuranceManagement $3,632$3,632
IX-24 Other expenses (24a–d)Programs $67,369$67,369
IX-24e All other expensesPrograms $3,550$3,550
IX-25 Total functional expensesPrograms $283,022 · Management $28,957 · Fundraising $0$311,979
Part X · Balance sheet $262,257 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $194,058$252,552
X-10c Land, buildings and equipment, netStart of year $10,649$9,705
X-16 Total assetsStart of year $204,707$262,257
X-25 Other liabilities$30,000
X-26 Total liabilitiesStart of year $0$30,000
X-27 Net assets without donor restrictionsStart of year $204,707$232,257
X-32 Total net assets or fund balancesStart of year $204,707$232,257
X-33 Total liabilities and net assetsStart of year $204,707$262,257
Part XI · Reconciliation of net assets $232,257 net assets at year end
XI-1 Total revenue$339,529
XI-2 Total expenses$311,979
XI-3 Revenue less expenses$27,550
XI-4 Net assets at start of year$204,707
XI-10 Net assets at end of year$232,257

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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