Closeknit EIN 47-4977811 Form 990 (PDF) Claim this org

Closeknit FY2023 filing

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Closeknit is a nonprofit based in Minneapolis, MN. For fiscal year 2023 it reported $254K in revenue, $248K in expenses, and $75K in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Minneapolis, MN
Website
www.closeknit.us
Filings
4 on file (2021–2023)
Revenue
$254KFY2023
Expenses
$248K
Net assets
$75K
People
10
Filings
4
Updates
0
More identity details & actions ⌄
EIN  47-4977811 Public charity (501(c)(3)) Minneapolis, MN
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
a nonprofit
Leadership
Cecilia-Chayyim Barba-Cook · Deputy Director · $68K
Money in and out
$254K revenue, $248K expenses
Bottom line
71% program efficiency
Where the money goes · FY2023
Total revenue
$254K
Pt VIII · Ln 12
Total expenses
$248K
Pt IX · Ln 25
Net assets
$75K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $5K
Where spending went · Part IX cols B–D
Program services $0.71 Management & general $0.28 Fundraising $0.01
Program efficiency
71%
of spending reaches programs
Operating runway
2.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+2%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$254K
FY2023▼ -9%
Expenses
$248K
FY2023▼ -26%
Total assets
$76K
FY2023▲ +10%
Total liabilities
$1K
FY2023▲ ×16
Total revenue
$254K
Pt VIII · Ln 12
Total expenses
$248K
Pt IX · Ln 25
Net assets
$75K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$5K
Total assetsPt X · Ln 16$76K
Program-expense ratioPt IX · col B71%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

2 program services account for $176K of program spending, described in the organization's own filed words · FY2023.
01

Chosen Justice Program

Our chosen family justice initiative engages youth facing homelessness, adult hosts, direct service providers, property owners, and government agencies to raise awareness, create legal resources, and policy proposals to support hosts who are informally hosting youth.

$122Kprogram expense
02

Circle Map Project

Closeknit focuses on the wellbeing and safety of youth who experience homelessness. Recognizing that to best serve youth facing homelessness, young peoples voices and experiences need to be heard, closeknit works to shift the conversation on youth homelessness by investing in connections between youth and their natural supports along…

$54Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCloseknit
EINHdr · item D47-4977811
Principal addressHdr · item CMinneapolis, MN
WebsiteHdr · item Jwww.closeknit.us
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFAug 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
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
$68,000Pt VII · Sec A
$55,480Pt VII · Sec A
Executive Director
$23,157Pt VII · Sec A
Operations
$16,976Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Communictions Coordinator
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2021
Angela Reed$84,157
Cecilia-Chayyim Barba-Cook$40,984$68,000
Jacqueline White$23,157$67,308
Michael Giovanis$7,520$55,480
Brian Rosas$16,976

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 & grants100%$253K
Investment income$161
— government grantsLn 1e$32K
Total revenueLn 12$254K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.71 Management & general $0.28 Fundraising $0.01
Program services71%$176K
Management & general28%$69K
Fundraising1%$3K
Total functional expensesLn 25$248K

Balance Sheet

Part X · end of year
CashLn 1$43K
Total assetsLn 16$76K
Total liabilitiesLn 26$1K
Total net assetsLn 32$75K
Months of cash on handcomputed2.1

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $43K · Operating expenses/yr $248K
2.1 months
Where the money goes
Program services
Program services $176K · Total expenses $248K
71%
Management & General
Management & general $69K · Total expenses $248K
28%
Fundraising
Fundraising $3K · Total expenses $248K
1%
Cost to raise $1
Fundraising expense (2-yr avg) $5K · Solicited contributions (2-yr avg) $202K
$0.02 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $253K · Total revenue $254K
100%
Government reliance
Government grants $32K · Total revenue $254K
12%
Earned-income share
Program service revenue $0 · Total revenue $254K
0%
Investment reliance
Investment income $161 · Total revenue $254K
+0.06%
Program self-sufficiency
Program service revenue $0 · Total expenses $248K
0%
Growth & trend
Revenue growth (YoY)
This year $254K · Prior year $278K
-9%
Net-asset trend (YoY)
End of year $75K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $254K · Expenses $248K
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $76K
Net-asset ratio
Net assets $75K · Total assets $76K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $76K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Cecilia-Chayyim Barba-Cook · Reported title DEPUTY DIRECTOR · Highest reported compensation $68K · Total expenses $248K
27%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $217K · Total expenses $248K
88%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 71%
Overhead ratio 28%
Fundraising cost ratio 1%
Revenue growth -9%
Legal fee ratio 1%
Accounting fee ratio 1%
Fundraising fee ratio 1%

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
Total grants receivedfrom 2 funders$143K

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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)$183K revenue · ⤓ 990 PDF
FY2023$254K revenue · viewing · ⤓ 990 PDF
FY2022$278K revenue · ⤓ 990 PDF
FY2021$213K 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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