Civic Intelligence

T Causemetics Foundation DBA Thrive

990PF • Fiscal year 2019 • EIN 82-4806875

Mar 01, 2018 to Feb 28, 2019 • Filed on May 21, 2020

10900 NE 4th StreetBellevue, WA 98004

(425) 503-5771

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

$17,595,455

No earlier filing loaded for comparison.

Net Assets

$17,595,455

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses

Revenue

$29,795,250

No earlier filing loaded for comparison.

Expenses

$12,199,795

No earlier filing loaded for comparison.

Net Income

$17,595,455

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2019: $17,595,455Liabilities 2019: $0Net Assets 2019: $17,595,4552019Assets 2019: $21,657,011Liabilities 2019: $0Net Assets 2019: $21,657,0112019Assets 2020: $20,524,869Liabilities 2020: $0Net Assets 2020: $20,524,8692020Assets 2021: $5,555,942Liabilities 2021: $0Net Assets 2021: $5,555,9422021Assets 2022: $10,467,863Liabilities 2022: $0Net Assets 2022: $10,467,8632022Assets 2023: $9,313,636Liabilities 2023: $0Net Assets 2023: $9,313,6362023Assets 2024: $13,394,021Liabilities 2024: $0Net Assets 2024: $13,394,0212024

Highlighted filing

2019

Assets$17,595,455
Liabilities$0
Net Assets$17,595,455

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2019: $29,795,250Expenses 2019: $12,199,795Net Income 2019: $17,595,4552019Revenue 2019: $33,856,806Expenses 2019: $12,199,795Net Income 2019: $21,657,0112019Revenue 2020: $56,548,768Expenses 2020: $57,680,910Net Income 2020: -$1,132,1422020Revenue 2021: $8,797,196Expenses 2021: $23,766,123Net Income 2021: -$14,968,9272021Revenue 2022: $13,218,291Expenses 2022: $8,306,370Net Income 2022: $4,911,9212022Revenue 2023: $38,123,842Expenses 2023: $39,278,069Net Income 2023: -$1,154,2272023Revenue 2024: $25,275,310Expenses 2024: $21,126,941Net Income 2024: $4,148,3692024

Highlighted filing

2019

Revenue$29,795,250
Expenses$12,199,795
Net Income$17,595,455
Jump To
Filing Snapshot
Filing Period
Mar 1, 2018 to Feb 28, 2019
Signed
May 21, 2020
Return Version
2018v3.1
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
KARISSA BODNARCEO-$0--
NED MENNINGERTreasurer-$0--
KATE MCDONALDSecretary-$0--
Filing and Contact Details

Filer

Filer Name
Thrive Causemetics Foundation
EIN
82-4806875
Address
10900 NE 4th Street, BELLEVUE, WA 98004

Signing Officer

Name
Ned Menninger
Title
Treasurer
Phone
4255035771
Signed
2020-05-21
Discuss with paid preparer
Yes

Preparer

Firm
Underwood and Roberts PLLC
Address
3110 Edwards Mill Road Ste 100, Raleigh, NC 27612
Preparer
Heather U Ashe
Phone
9196648803
Raw XML Appendix254 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc0General Explanation Supplemental Information for Form 990-PF
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt0The Foundation makes donations of Thrive Causemetics, Inc. products to 501(c)(3) organizations that support women in need. The Foundation has entered into written agreements with each of the 100+ organizations to which it has donated Thrive Causemetics, Inc. products. The Foundation has made donations to more than 100 organizations. The Foundation selects recipient organizations that have a strong track record of helping women in need, the Foundation takes into account the organization's mission and the demographics of the clients served by the organization. THrive Causemetics, Inc. is a for profit entity that develops and sells high performance beauty products. For every customer purchase from Thrive Causemetics, Inc., Thrive Causemetics, Inc. donates products to Thrive Causemetics Foundation (the "Foundation") which then donates products to 501(c)(3) organizations that support women in need (e.g., women overcoming challenges such as domestic abuse, homelessness or health issues like cancer)depending on the needs expressed by the applicable recipient organization. The Foundation records the incoming contributions at MSRP/FMV. The Foundation records the outgoing donations to the 501(c)(3) entities at MSRP/FMV. This provides consistent accounting for the inventory costs.
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IRS990PF/SummaryOfDirectChrtblActyGrp/Description1Txt0iGoPink (BCCA): Eliminate breast cancer and bring together patients and survivors for advocacy and support. $983,040 IN BEAUTY PRODUCTS (47,040 UNITS)THrive Causemetics, Inc. is a for profit entity that develops and sells high performance beauty products. For each customer purchase from Thrive Causemetics, Inc., Thrive Causemetics, Inc. donates products to Thrive Causemetics Foundation (the "Foundation") which then donates products to 501(c)(3) organizations that support women in need (e.g., women overcoming challenges such as domestic abuse, homelessness or health issues like cancer)depending on the needs expressed by the applicable recipient organization. In addition to direct product donations, the Foundation collaborates with organizations supporting women to host community-building events. At these events the Foundation provides makeup lessons in a party like atmosphere where women have the opportunity to acquire new skills, share their inspirational stories and connect with other
IRS990PF/SummaryOfDirectChrtblActyGrp/Description2Txt0Dignity for Divas: Provide dignity and services to women who are homeless. $1,526,816 IN BEAUTY PRODUCTS (63,544 UNITS)THrive Causemetics, Inc. is a for profit entity that develops and sells high performance beauty products. For each customer purchase from Thrive Causemetics, Inc., Thrive Causemetics, Inc. donates products to Thrive Causemetics Foundation (the "Foundation") which then donates products to 501(c)(3) organizations that support women in need (e.g., women overcoming challenges such as domestic abuse, homelessness or health issues like cancer)depending on the needs expressed by the applicable recipient organization. In addition to direct product donations, the Foundation collaborates with organizations supporting women to host community-building events. At these events the Foundation provides makeup lessons in a party like atmosphere where women have the opportunity to acquire new skills, share their inspirational stories and connect with other women. The Foundation works cl
IRS990PF/SummaryOfDirectChrtblActyGrp/Description3Txt0Foundation for Living Beauty: Empower women to increase their physical wellness and emotional stability while coping with the taxing effects of cancer and chemotherapy $901,500 IN BEAUTY PRODUCTS (40,250 UNITS)THrive Causemetics, Inc. is a for profit entity that develops and sells high performance beauty products. For each customer purchase from Thrive Causemetics, Inc., Thrive Causemetics, Inc. donates products to Thrive Causemetics Foundation (the "Foundation") which then donates products to 501(c)(3) organizations that support women in need (e.g., women overcoming challenges such as domestic abuse, homelessness or health issues like cancer)depending on the needs expressed by the applicable recipient organization. In addition to direct product donations, the Foundation collaborates with organizations supporting women to host community-building events. At these events the Foundation provides makeup lessons in a party like atmosphere where women have the opportunity to acquire new skil
IRS990PF/SummaryOfDirectChrtblActyGrp/Description4Txt0Project Beauty Share:Collect personal hygiene, cosmetics, and beauty products, and to distribute them through non profit organizations to women and families overcoming abuse, addiction, homelessness and poverty. $976,500 BEAUTY PRODUCTS (40,350 UNITS)THrive Causemetics, Inc. is a for profit entity that develops and sells high performance beauty products. For each customer purchase from Thrive Causemetics, Inc., Thrive Causemetics, Inc. donates products to Thrive Causemetics Foundation (the "Foundation") which then donates products to 501(c)(3) organizations that support women in need (e.g., women overcoming challenges such as domestic abuse, homelessness or health issues like cancer)depending on the needs expressed by the applicable recipient organization. In addition to direct product donations, the Foundation collaborates with organizations supporting women to host community-building events. At these events the Foundation provides makeup lessons in a party like atmosphere where women
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses1Amt00
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IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt0End homelessness for women in greater Los Angeles through housing, wellness, employment, and advocacy
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt1Improve the quality of life and self-esteem of people undergoing cancer treatment
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt2Support women with cancer through makeover events
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt3Ensure adolescents and young adults have no barriers to survive and thrive after a cancer diagnosis
IRS990PF/SupplementaryInformationGrp/GrantOrContributionPdDurYrGrp/GrantOrContributionPurposeTxt4SEE ATTACHED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt010900 NE 4th Street SUITE 2300
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd0WA
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd098004
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ReasonableCauseExplanation/ExplanationTxt0The Foundation recently discovered that it inadvertently failed to timely file Form 990-PF information return for tax year ending 2/28/2019. Accordingly, the Foundation submits the attached returns for filing. In connection with this submission, the Foundation respectfully requests that the IRS abate late filing penalties under 6652 with respect to tax years 2/28/2019.This is the first year of existence for the Foundation. The Foundation beleived that they had engaged advisors to complete all regulatory filings needed - including applying for tax-exempt status and income tax filings. In February 2020, the Foundation realized that the Income Tax Filings had not been filed and immediately engaged the Tax Preparer on this return to complete the tax returns as soon as possible.The Treasurer of the Foundation is one of two employees that are responsible for the Foundation books and records. The late filing of the tax returns was not intentional nor planned. The Foundation reasonably relied on outside advisors to inform the Foundation of what filings needed to be completed and in what order. THe Foundation beleived that these filings were progressing in the normal order of events - in that the Foundation had not received their federal 1023 acceptance yet, the Foundation reasonbly beleived their outside advisors would let them know when the tax returns needed to be completed.This is not evidence of willful neglect or a lack of business care. IRM 20.1.1.2.1 provides that, Voluntary compliance is achieved when a taxpayer makes a good faith effort to meet the tax obligations defined by the Internal Revenue Code." See IRM 20.1.1.2.1 (11-25-11). In the Foundation's case, imposing penalties would not enhance voluntary compliance, and imposition is not required to correct the taxpayer's behavior. The Foundation takes its reporting obligations extremely seriously,and penalties would simply serve as punishment rather than encouraging future voluntary compliance. We respectfully request abatement of any late filing or payment penalites associated with the Foundation's first year tax return with year end 2/28/2019 due to reasonable cause of it being the first year of filing.
SubstantialContributorsSch/SubstantialContributorDetail/PersonNm0THRIVE CAUSEMETICS INC
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/AddressLine1Txt010900 NE 4th Street SUITE 2300
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/CityNm0BELLEVUE
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/StateAbbreviationCd0WA
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/ZIPCd098004
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NED MENNINGER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum04255035771
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THRIVE CAUSEMETICS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0THRI
ReturnHeader/Filer/EIN0824806875
ReturnHeader/Filer/USAddress/AddressLine1Txt010900 NE 4th Street
ReturnHeader/Filer/USAddress/CityNm0BELLEVUE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098004
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0030490995
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Underwood and Roberts PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03110 Edwards Mill Road Ste 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Raleigh
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027612
ReturnHeader/PreparerPersonGrp/PhoneNum09196648803
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Heather U Ashe
ReturnHeader/ReturnTs02020-05-21T14:17:22-07:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/TaxPeriodBeginDt02018-03-01
ReturnHeader/TaxPeriodEndDt02019-02-28
ReturnHeader/TaxYr02018

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