Gm First and Second Thrift Store FY2024 filing

Tax-deductible

Grand Marais, MN501(c)(3)Community DevelopmentEIN 92-1036167Revenue $233K in FY2024

On file with the IRSPo Box 54, 55604-0054 · Grand Marais, MNTax-exempt since Jan 2023Publicly supported — 509(a)(2)

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Raise money for 33 local nonprofit through the sale of donated goods. Worked with social services and local churches to provide clothing and household goods to people in need.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $34K a year · 14% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 14.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$451
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$233K
+21% vs prior year
Spent
$181K
To programs
97%
Net assets
$221K
By yearFY2023–FY2025
Revenue
$233K
FY2024▲ +21%
Tap a bar for its year
Revenue by fiscal year
FY2023$193K
FY2024$233K
FY2025$261K
Expenses
$181K
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2023Not on file
FY2024$181K
FY2025$245K
Net assets
$221K
FY2024▲ +31%
Tap a bar for its year
Net assets by fiscal year
FY2023$168K
FY2024$221K
FY2025$237K

From the FY2024 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2023.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $174K Management & general 3% · $6K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Gm First and Second Thrift Store 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 15aNo

Programs and updates

Sells donated goods to fund local charities and provide essentials to those in need.

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Provided by the organization

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1 program · $174K · in their own filed words · FY2024
01

In 2023 62 volunteers raised $117389 for local nonprofit organizations through the sale of donated used goods. Grants were distributed in Jan 2024 to 33 organizations with current 501c3 status located in Cook County MN.

$174Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 21 grants · $218K · 2024–2025
Hamilton Habitat INCMN · FY2025$27,182
First Congregational ChurchFY2025$15,625
Grand Marais Playhouse INCMN · FY2025$14,172
Arrowhead Animal RescueFY2025$12,195
Violence Prevention CenterMN · FY2025$11,801
Bethlehem Lutheran ChurchMN · FY2025$11,572
Evangelical Free ChurchMN · FY2025$8,830
School District 166FY2025$8,394
Tofte Historical SocietyMN · FY2025$6,136
Great Expectations SchoolMN · FY2025$5,401
American Legion AuxiliaryMN · FY2025$5,126
Hamilton Habitat INCMN · FY2024$15,346
First Congregational ChurchFY2024$13,181
Grand Marais Playhouse INCMN · FY2024$10,236
Violence Prevention CenterMN · FY2024$7,808
See all 21 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$233K
Ln 12
Fees for servicesLn 2g$229K
Investment incomeLn 3$4K
Money outPt IX
$181K
Ln 25
Programscol B$174K
Managementcol C$6K
Owns and owesPt X
$221K
net assets · Ln 32
Cash and savingsLn 1–2$211K
Total assetsLn 16$221K
LiabilitiesLn 26$451
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$229K
Investment incomeLn 3$4K
Gains on assetsLn 7$0
Total revenueLn 12$233K
Assets in detailPt X, end of year
CashLn 1$267
SavingsLn 2$211K
Cash and savings togetherLn 1–2$211K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$10K
Other assetsLn 15$0
Total assetsLn 16$221K
LiabilitiesLn 26$451
Net assetsLn 32$221K
OperationsPt I, VI
EmployeesI 50
VolunteersI 652
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$159K$211K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$10K$10K
Total assetsLn 16$169K$221K
LiabilitiesLn 26$1K$451
Net assetsLn 32$168K$221K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$117K$117K
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0$0$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$0$0$0$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$0$0$0$0
Payroll taxesLn 10$0$0$0$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$0$0$0$0
Accounting feesLn 11c$0$0$0$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$0$0$0$0
Advertising and promotionLn 12$100$90$10$0
Office expensesLn 13$606$544$62$0
Information technologyLn 14$5K$4K$490$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$52K$47K$5K$0
TravelLn 17$0$0$0$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
InterestLn 20$0$0$0$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$0$0$0$0
InsuranceLn 23$1K$1K$114$0
Other expenses (24a–d)Ln 24$4K$4K$440$0
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$181K$174K$6K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $261K$245K$16K$237K 990 PDF
FY2024 Viewing $233K$181K$53K$221K 990 PDF
FY2023 $193K$168K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $233,070 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $75,029$0
I-9 Program service revenuePrior year $117,700$229,456
I-10 Investment incomePrior year $0$3,614
I-11 Other revenuePrior year $604$0
I-12 Total revenuePrior year $193,333$233,070
I-13 Grants and similar amounts paidPrior year $0$117,389
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$63,150
I-18 Total expensesPrior year $0$180,539
I-19 Revenue less expensesPrior year $193,333$52,531
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $233,070 across 16 lines filed
Lines not itemized here account for $3,473 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $225,983 · Unrelated business $0 · Excluded from tax $0$225,983
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $3,614 · Excluded from tax $0$3,614
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $225,983 · Unrelated business $7,087 · Excluded from tax $0$233,070
Part IX · Statement of functional expenses $180,539 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $117,389$117,389
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$0
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$0
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $0 · Management $0 · Fundraising $0$0
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionPrograms $90 · Management $10 · Fundraising $0$100
IX-13 Office expensesPrograms $544 · Management $62 · Fundraising $0$606
IX-14 Information technologyPrograms $4,408 · Management $490 · Fundraising $0$4,898
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $46,808 · Management $5,200 · Fundraising $0$52,008
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$0
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $0 · Management $0 · Fundraising $0$0
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$0
IX-23 InsurancePrograms $1,026 · Management $114 · Fundraising $0$1,140
IX-24 Other expenses (24a–d)Programs $3,958 · Management $440 · Fundraising $0$4,398
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $174,223 · Management $6,316 · Fundraising $0$180,539
Part X · Balance sheet $221,397 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $284$267
X-2 Savings and temporary cash investmentsStart of year $159,178$211,130
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $10,000$10,000
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $169,462$221,397
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $1,047$451
X-26 Total liabilitiesStart of year $1,047$451
X-32 Total net assets or fund balancesStart of year $168,415$220,946
X-33 Total liabilities and net assetsStart of year $169,462$221,397
Part XI · Reconciliation of net assets $220,946 net assets at year end
XI-1 Total revenue$233,070
XI-2 Total expenses$180,539
XI-3 Revenue less expenses$52,531
XI-4 Net assets at start of year$168,415
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$220,946

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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