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New York BBB Wise Giving Report for
Bottomless Closet

A BBB Accredited charity

 



Expiration Date:
08/2015
Name:
Bottomless Closet
Formerly known as:
------
Address:
15 Penn Plaza, B Level, Suite 40
New York, NY 10001
Phone:
212-563-2499
Year, State Incorporated:
1999, New York
Affiliates:
None
Stated Purpose:
" The mission of Bottomless Closet is to help disadvantaged New York City women become self-sufficient through a comprehensive program that begins with business attire and interview preparation and continues with professional development, financial management and personal enrichment. Using the model of women helping women and our network of dedicated volunteers, Bottomless Closet enhances our clients’ self-esteem and self-confidence in order for them to enter and succeed in the workforce and improve the quality of their lives. "





Evaluation Conclusions
 

              
Bottomless Closet meets all the 20 standards Standards for Charity Accountability.




Programs
 

              
Bottomless Closet provides one-on-one assistance in resume preparation, interview techniques and presentation skills to women seeking employment, the opportunity to select interview-appropriate clothing from Bottomless Closet’s boutique, and offers an educational curriculum delivered by experts in their respective fields that emphasizes workplace skills and personal enrichment.



Governance
 

              
Chief Executive Officer:
Ms. Kendall Farrell , Executive Director & CEO
Compensation*:
$134,700
Chair of the Board:
Ms. Sara T. Scolum
Chair's Profession / Business Affiliation:
President
Board Size:
20
Paid Staff Size:
8



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, invitations to fund raising events, print advertisements (newspapers, magazines, etc.), grant proposals, internet
Fund raising costs were 18.3% of related contributions. (Related contributions, which totaled $1,396,538, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on Bottomless Closet's Audited Financial Statement for the fiscal year ended December 31, 2012.

Source of Funds  

Fund Raising

$719,821

In-Kind Donations

357,196

Grants

180,350

Contributions Received

139,171

Gain (Loss) on Investment

68,659

Total Income

$1,465,197

Program Expenses  

Program Services

$868,773
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

868,773
255,402
171,802

$1,295,977

$169,220




Uses of Funds as a % of Total Expenses


Programs: 67%  Fund Raising: 20%  Administrative 13% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $1,158,647
Ending net assets 1,327,867
Total liabilities 24,677

Total assets

$1,352,544






 

A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.