Castaways Thrift Co
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Castaways Thrift Co. is a 5,000 square foot thrift store that exists to fulfill a three part mission. First we seek to reduce overall landfill waste by providing a better alternative to the community a place where they can bring unwanted items rather than throwing them away. Secondly the clothing and household items that we receive from the community are priced and put out for sale allowing people to pay drastically reduced prices of 50% - 90% below original retail cost. This is a great benefit to the low-income individuals of our small town Madison NC. And lastly with whatever proceeds Castaways Thrift Co. generates we seek to provide financial support to Christian substance abuse programs in order to help individuals overcome drug and alcohol addiction.
- Income
- $238,574
- Spending
- $236,178
- Spent on programs
- 100%
- Reserves
- 1.7 months of spending
- Largest source of income
- other income, 100%
- Employees
- 16
- Volunteers
- 2
- Highest pay
- $34,824, executive director - store manager
Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 72 out of 100. Higher than 51% of charities in its peer group (human services, under $250k).
Reserves
10 of 35Spendable reserves would cover 1.7 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
12 of 15Income exceeded spending by 1% of income.
Income trend
15 of 15Income rose 2% on the year before.
Spending floor
15 of 15100% of spending went to programs.
Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 74 out of 100. Higher than 64% of charities in its peer group (human services, under $250k).
Independent board
18 of 252 of 3 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $60,138 spent. This fiscal year Castaways Thrift Co. successfully took in copious amounts of donations from the community effectively reducing excess waste in our landfills.
- $60,139 spent. The local community has been appreciative of our well-organized thrift store and the low prices we are able to provide enabling them to stretch their dollar on needed clothing and household items.
- $115,901 spent. Proceeds from Castaways Thrift Co. are being sent to two Christian substance-abuse rehab centers: Solus Christus a safe-house providing short-term care and Genesis Ministries a home for women seeking long-term rehabilitation. Solus Christus provides a warm and loving Christian environment while assisting women in the lengthy and tedious process of applying to long-term treatment programs. And Genesis Ministries is one of the aforementioned long-term treatment programs that assists women in their journey to freedom from addiction. Many people come through the doors of Castaways Thrift looking for prayer and direction for themselves or for a loved one trapped in addiction and it has been our great privilege to pray with them and to direct them to the help that Solus Christus and Genesis Ministries humbly offers.
Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending July 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since September 2018.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.