Josephs Coat INC EIN 41-1647621 Form 990 (PDF) Claim this org

Josephs Coat INC FY2023 filing

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Delivers essential goods and services with dignity and respect to people facing hardship. For fiscal year 2023 it reported $959K in revenue, $1.1M in expenses, and $1.2M in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Saint Paul, MN
Website
www.josephscoatmn.org
Filings
5 on file (2020–2023)
Revenue
$959KFY2023
Expenses
$1.1M
Net assets
$1.2M
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  41-1647621 Public charity (501(c)(3)) Saint Paul, MN
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Delivers essential goods and services with dignity and respect to people facing hardship.
Leadership
Rebecca Bedner · Executive Dir. · $24K
Money in and out
$959K revenue, $1.1M expenses
Bottom line
87% program efficiency
Where the money goes · FY2023
Total revenue
$959K
Pt VIII · Ln 12
Total expenses
$1.1M
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$131K
Where spending went · Part IX cols B–D
Program services $0.87 Management & general $0.12 Fundraising $0.02
Program efficiency
87%
of spending reaches programs
Operating runway
30.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-14%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$959K
FY2023▼ -6%
Expenses
$1.1M
FY2023▲ +3%
Total assets
$1.4M
FY2023▼ -5%
Total liabilities
$271K
FY2023▼ -13%
Total revenue
$959K
Pt VIII · Ln 12
Total expenses
$1.1M
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$131K
Total assetsPt X · Ln 16$1.4M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $948K of program spending, described in the organization's own filed words · FY2023.
01

Since 1989, joseph's coat has been serving the neediest members of the saint paul, minnesota and surrounding twin cities communities. The organization's free store provides clothing, household items, personal hygiene products and children's items.

$948Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CJosephs Coat INC
EINHdr · item D41-1647621
Principal addressHdr · item CSaint Paul, MN
WebsiteHdr · item Jwww.josephscoatmn.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJun 1994

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$24,231Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Rebecca Bedner$111,916$24,231
Cheryl Stern$84,033$79,898$77,861

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.

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Statement of Revenue

Part VIII
Contributions & grants$890K · 93%
Other revenue$42K · 4%
Investment income$27K · 3%
Contributions & grants93%$890K
Other revenue4%$42K
Investment income3%$27K
Total revenueLn 12$959K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.12 Fundraising $0.02
Program services87%$948K
Management & general12%$126K
Fundraising2%$16K
Total functional expensesLn 25$1.1M

Balance Sheet

Part X · end of year
CashLn 1$167K
Total assetsLn 16$1.4M
Total liabilitiesLn 26$271K
Total net assetsLn 32$1.2M
Months of cash on handcomputed1.8

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.2M · Operating expenses (Pt IX) $1.1M · Less non-cash grants $641K · Cash operating expenses/yr $449K
30.8 months
Where the money goes
Program services
Program services $948K · Total expenses $1.1M
87%
Management & General
Management & general $126K · Total expenses $1.1M
12%
Fundraising
Fundraising $16K · Total expenses $1.1M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $12K · Solicited contributions (3-yr avg) $882K
$0.01 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $890K · Total revenue $959K
93%
Government reliance
Government grants — · Total revenue $959K
Earned-income share
Program service revenue $0 · Total revenue $959K
0%
Investment reliance
Investment income $27K · Total revenue $959K
+3%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.1M
0%
Growth & trend
Revenue growth (YoY)
This year $959K · Prior year $1.0M
-6%
Net-asset trend (YoY)
End of year $1.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $959K · Expenses $1.1M
-14%
Liabilities-to-Assets
Total liabilities — · Total assets $1.4M
Net-asset ratio
Net assets $1.2M · Total assets $1.4M
81%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $988K · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.4M
69%
People & payroll
Highest Reported Total Compensation
Individual Rebecca Bedner · Reported title Executive Dir. · Highest reported compensation $24K · Total expenses $1.1M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $196K · Total expenses $1.1M
18%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 87%
Overhead ratio 12%
Fundraising cost ratio 2%
Revenue growth -6%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.2M revenue · ⤓ 990 PDF
FY2023$959K revenue · viewing · ⤓ 990 PDF
FY2022$1.0M revenue · ⤓ 990 PDF
FY2021$880K revenue · ⤓ 990 PDF
FY2020$1.2M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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