Civic Intelligence

The Michael E Thornton Foundation

990 • Fiscal year 2022 • EIN 47-3566922

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 04, 2023

Organization ProfileTHEMETFUND.ORG
12770 Merit Drive Ste 124Dallas, TX 75351

(214) 720-0696

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.04x

Higher debt load relative to assets than 58% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

46th percentile

0.01x

Higher debt load relative to revenue than 46% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

81st percentile

$80,000

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 15.2% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

9th percentile

-22%

Faster asset growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

36th percentile

-2.2%

Faster revenue growth than 36% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$170,354

Down $49,332 (-22%) from 2021

Net Assets

Down

$163,102

Down $56,584 (-26%) from 2021

Liabilities

Up

$7,252

Up $7,252 from 2021

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin22nd percentile

Revenue

Down

$526,626

Down $11,631 (-2.2%) from 2021

Expenses

Up

$583,209

Up $191,377 (+49%) from 2021

Net Income

Down

-$56,583

Down $203,008 (-139%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2015: $45,416Liabilities 2015: $0Net Assets 2015: $45,4162015Assets 2016: $48,204Liabilities 2016: $0Net Assets 2016: $48,2042016Assets 2017: $211,467Liabilities 2017: $0Net Assets 2017: $211,4672017Assets 2018: $236,853Liabilities 2018: $0Net Assets 2018: $236,8532018Assets 2019: $156,939Liabilities 2019: $14,493Net Assets 2019: $142,4462019Assets 2020: $116,951Liabilities 2020: $43,691Net Assets 2020: $73,2602020Assets 2021: $219,686Liabilities 2021: $0Net Assets 2021: $219,6862021Assets 2022: $170,354Liabilities 2022: $7,252Net Assets 2022: $163,1022022Assets 2023: $248,727Liabilities 2023: $61,980Net Assets 2023: $186,7472023Assets 2024: $213,675Liabilities 2024: $7,934Net Assets 2024: $205,7412024

Highlighted filing

2022

Assets$170,354
Liabilities$7,252
Net Assets$163,102
Open 2022 Filing

Operations Trend

Revenue Growth36th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2015: $100,200Expenses 2015: $54,784Net Income 2015: $45,4162015Revenue 2016: $111,781Expenses 2016: $108,992Net Income 2016: $2,7892016Revenue 2017: $335,644Expenses 2017: $172,380Net Income 2017: $163,2642017Revenue 2018: $380,257Expenses 2018: $354,872Net Income 2018: $25,3852018Revenue 2019: $266,619Expenses 2019: $361,026Net Income 2019: -$94,4072019Revenue 2020: $209,465Expenses 2020: $294,685Net Income 2020: -$85,2202020Revenue 2021: $538,257Expenses 2021: $391,832Net Income 2021: $146,4252021Revenue 2022: $526,626Expenses 2022: $583,209Net Income 2022: -$56,5832022Revenue 2023: $496,781Expenses 2023: $473,135Net Income 2023: $23,6462023Revenue 2024: $475,602Expenses 2024: $456,608Net Income 2024: $18,9942024

Highlighted filing

2022

Revenue$526,626
Expenses$583,209
Net Income-$56,583
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 4, 2023
Return Version
2022v5.0
Gross Receipts
$526,626
Mission and Program Overview

Mission

Providing immediate financial

Providing immediate financial assistance for both active and non-active duty military and families in need

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$218,938$170,354▼ $48,584
Rtn Earn Endowment Incm Other Fnds$219,686$163,102▼ $56,584
Total Assets$219,686$170,354▼ $49,332
Other Assets Total$748$0▼ $748
Liabilities
Accounts Payable and Accrued Expenses$0$7,252▲ $7,252
Total Liabilities$0$7,252▲ $7,252
Net Assets / Fund Balance
Total Net Assets Fund Balance$219,686$163,102▼ $56,584
Total Liabilities and Net Assets / Fund Balance$219,686$170,354▼ $49,332

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$0--
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Connie S BoucherVice PresidentPT$80,000$80,000

Board Members and Trustees

NameTitle
Michael E ThorntonPresident
Joseph Robert KerryOfficer
Todd J SeniffOfficer
John Peter LynchSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$526,626
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$526,626
Change in Net Assets
$-56,583
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$430,946
Grants and Similar Amounts Paid$152,263
Total Fundraising Expense$136,264
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$0$78,332$136,264$214,596
Grants to Domestic Orgs$97,000--$97,000
Fees for Services Management$0$80,000$0$80,000
Travel$0$70,832$0$70,832
Grants to Domestic Individuals$55,263--$55,263
Advertising$0$36,521$0$36,521
Office Expenses$0$13,307$0$13,307
Interest$0$4,513$0$4,513
Fees for Services Accounting$0$3,076$0$3,076
Insurance$0$2,201$0$2,201
Other Expenses$0$41$0$41
Total Functional Expenses$152,263$294,682$136,264$583,209
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Marine Corps-law Enforcement FoundationTuckahoe, NY-Non-profit Foundation$62,000
The Patriot ProjectNorth Canton, OH-Non-profit Foundation$15,000
Base Camp 40 Warriors in the WildFruita, CO-Non-profit Foundation$10,000
Seal-nsw Family FoundationCarlsbad, CA-Non-profit Foundation$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Michael E Thornton Foundation
EIN
47-3566922
Phone
2147200696
Address
12770 MERIT DRIVE STE 124, DALLAS, TX 75351

Signing Officer

Name
Michael Thornton
Title
President
Phone
2147200696
Signed
2023-10-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Thornton
Formed
2015
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
The Pierson Firm PLLC
Address
122 West Davis Street, Conroe, TX 77301
Preparer
Gladys E Pierson
Phone
9367562008
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“President reviews with tax preparer”

Form 990, Part IX, Line 11G

“Subcontractors 53579. 0. 53579. 0.”

Form 990, Part IX, Line 11G

“Meals & entertainment 142851. 0. 6587. 136264.”

Form 990, Part IX, Line 11G

“Telephone & communications 7698. 0. 7698. 0.”

Form 990, Part IX, Line 11G

“Supplies 2286. 0. 2286. 0.”

Form 990, Part IX, Line 11G

“Shipping & delivery expense 8182. 0. 8182. 0.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRESIDENT REVIEWS WITH TAX PREPARER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SUBCONTRACTORS 53579. 0. 53579. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEALS & ENTERTAINMENT 142851. 0. 6587. 136264.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TELEPHONE & COMMUNICATIONS 7698. 0. 7698. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SUPPLIES 2286. 0. 2286. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SHIPPING & DELIVERY EXPENSE 8182. 0. 8182. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0219686
IRS990/TotalAssetsEOYAmt0170354
IRS990/TotalAssetsGrp/BOYAmt0219686
IRS990/TotalAssetsGrp/EOYAmt0170354
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0526626
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0136264
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0294682
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0152263
IRS990/TotalFunctionalExpensesGrp/TotalAmt0583209
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt07252
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt07252
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0219686
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0163102
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0152263
IRS990/TotalReportableCompFromOrgAmt080000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0526626
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0219686
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0170354
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt070832
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt070832
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt016800 WESTGROVE DR800
IRS990/USAddress/CityNm0ADDISON
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075001
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0THEMETFUND.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL THORNTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02147200696
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE MICHAEL E THORNTON FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MICH
ReturnHeader/Filer/EIN0473566922
ReturnHeader/Filer/PhoneNum02147200696
ReturnHeader/Filer/USAddress/AddressLine1Txt012770 MERIT DRIVE STE 124
ReturnHeader/Filer/USAddress/CityNm0DALLAS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075351
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0870994333
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0The Pierson Firm PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0122 West Davis Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Conroe
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077301
ReturnHeader/PreparerPersonGrp/PhoneNum09367562008
ReturnHeader/PreparerPersonGrp/PreparationDt02023-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GLADYS E PIERSON
ReturnHeader/ReturnTs02023-10-26T12:48:23-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0THORNTON
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$170,354
Liabilities
$7,252
Net assets
$163,102
Revenue
$526,626
Expenses
$583,209
Net income
-$56,583
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.14$0.08$2.06$4.76$4.57$0.19
2023Detailed filing. Detailed filing data is available for this year.$2.49$0.62$1.87$4.97$4.73$0.24
2022Detailed filing. Detailed filing data is available for this year.$1.70$0.07$1.63$5.27$5.83$0.57
2021Detailed filing. Detailed filing data is available for this year.$2.20$0.00$2.20$5.38$3.92$1.46
2020Detailed filing. Detailed filing data is available for this year.$1.17$0.44$0.73$2.09$2.95$0.85
2019Detailed filing. Detailed filing data is available for this year.$1.57$0.14$1.42$2.67$3.61$0.94
2018Detailed filing. Detailed filing data is available for this year.$2.37$0.00$2.37$3.80$3.55$0.25
2017Detailed filing. Detailed filing data is available for this year.$2.11$0.00$2.11$3.36$1.72$1.63
2016Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$1.12$1.09$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$1.00$0.55$0.45