Civic Intelligence

Thrift Love

990 • Fiscal year 2022 • EIN 85-3303443

Jan 01, 2022 to Dec 31, 2022 • Filed on May 09, 2023

Organization ProfileWWW.THRIFTLOVE.ORG
1116 W 7th Street Pmb 184Columbia, TN 38401

(931) 374-6754

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.02x

Higher debt load relative to assets than 52% 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

84th percentile

38%

Higher net margin than 84% of similar nonprofits.

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

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

96th percentile

170%

Faster asset growth than 96% of similar nonprofits.

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

Revenue Growth

91st percentile

127%

Faster revenue growth than 91% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$322,565

Up $203,128 (+170%) from 2021

Net Assets

Up

$315,212

Up $198,798 (+171%) from 2021

Liabilities

Up

$7,353

Up $4,330 (+143%) from 2021

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin84th percentile

Revenue

Up

$537,641

Up $301,044 (+127%) from 2021

Expenses

Up

$333,214

Up $213,031 (+177%) from 2021

Net Income

Up

$204,427

Up $88,013 (+76%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$600K$400K$200K$0Assets 2021: $119,437Liabilities 2021: $3,023Net Assets 2021: $116,4142021Assets 2022: $322,565Liabilities 2022: $7,353Net Assets 2022: $315,2122022Assets 2023: $464,825Liabilities 2023: $1,274Net Assets 2023: $463,5512023Assets 2024: $499,214Liabilities 2024: $8,015Net Assets 2024: $491,1992024

Highlighted filing

2022

Assets$322,565
Liabilities$7,353
Net Assets$315,212
Open 2022 Filing

Operations Trend

Revenue Growth91st percentile

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

$1.0M$500K$0Revenue 2021: $236,597Expenses 2021: $120,183Net Income 2021: $116,4142021Revenue 2022: $537,641Expenses 2022: $333,214Net Income 2022: $204,4272022Revenue 2023: $732,100Expenses 2023: $589,815Net Income 2023: $142,2852023Revenue 2024: $825,465Expenses 2024: $805,197Net Income 2024: $20,2682024

Highlighted filing

2022

Revenue$537,641
Expenses$333,214
Net Income$204,427
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 9, 2023
Return Version
2022v5.0
Gross Receipts
$590,707
Mission and Program Overview

Mission

We offer mentored, sustainable employment with a competitive wage to adults with special needs and/or disabilities. We resell gently used, donated clothing, household goods, furniture and more to maximize funds for the mission.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$142,098-
Cash and Non-Interest-Bearing Accounts$42,827$100,491▲ $57,664
Savings and Temporary Cash Investments$75,005$79,976▲ $4,971
Prepaid Expenses and Deferred Charges$1,605--
Total Assets$119,437$322,565▲ $203,128
Liabilities
Accounts Payable and Accrued Expenses$3,004$7,353▲ $4,349
Other Liabilities$19--
Total Liabilities$3,023$7,353▲ $4,330
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$116,414$315,212▲ $198,798
Total Net Assets Fund Balance$116,414$315,212▲ $198,798
Total Liabilities and Net Assets / Fund Balance$119,437$322,565▲ $203,128
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Ken RakowPresident
Juli BeckDirector
Lisa WheelerDirector
Marlene RakowDirector
Robyn GrahamDirector
Gina RussellExecutive Di
Kara WilliamsSecretary
Mitzi FannTreasurer
Crystal WallerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$26,735
Program Service Revenue
$508,144
Investment Income
$2,762
Other Revenue
$0
All Other Contributions
$26,735
Change in Net Assets
$204,427
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$166,771
Salaries, Compensation, and Employee Benefits$166,443
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$154,670--$154,670
Occupancy$88,634--$88,634
Office Expenses$14,318$3,579-$17,897
Payroll Taxes$11,773--$11,773
Advertising$8,035--$8,035
Insurance$4,305--$4,305
Other Expenses$2,634--$2,634
All Other Expenses$1,070--$1,070
Total Functional Expenses$329,635$3,579$0$333,214
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
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Ken rakow marlene rakow president director married”

Form 990, Page 6, Part VI, Line 11B

“The organization's form 990 is reviewed prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Enforcement and monitoring compliance of a conflicts of interest policy is performed at monthly meetings.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Thrift Love for Vocational
EIN
85-3303443
Phone
9313746754
Address
1116 W 7TH STREET PMB 184, COLUMBIA, TN 38401

Signing Officer

Name
Gina Russell
Title
Executive Director
Phone
9313746754
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Rakow
Formed
2021
Legal Domicile
Tn
Voting Board Members
9
Independent Board Members
9
Employees
27

Preparer

Firm
Blankenship CPA Group Pllc
Address
102 W 7TH ST STE 100, COLUMBIA, TN 38401
Preparer
Steven D Warren CPA
Phone
6153733771
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“We offer mentored, sustainable employment with a competitive wage to adults with special needs and/or disabilities. We resell gently used, donated clothing, household goods, furniture and more to maximize funds for the mission.”

Form 990, Page 2, Part III, Line 4D

“We offer mentored, sustainable employment with a competitive wage to adults with special needs and/or disabilities. We resell gently used, donated clothing, household goods, furniture and more to maximize funds for the mission.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE OFFER MENTORED, SUSTAINABLE EMPLOYMENT WITH A COMPETITIVE WAGE TO ADULTS WITH SPECIAL NEEDS AND/OR DISABILITIES. WE RESELL GENTLY USED, DONATED CLOTHING, HOUSEHOLD GOODS, FURNITURE AND MORE TO MAXIMIZE FUNDS FOR THE MISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WE OFFER MENTORED, SUSTAINABLE EMPLOYMENT WITH A COMPETITIVE WAGE TO ADULTS WITH SPECIAL NEEDS AND/OR DISABILITIES. WE RESELL GENTLY USED, DONATED CLOTHING, HOUSEHOLD GOODS, FURNITURE AND MORE TO MAXIMIZE FUNDS FOR THE MISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2KEN RAKOW MARLENE RAKOW PRESIDENT DIRECTOR MARRIED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S FORM 990 IS REVIEWED PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ENFORCEMENT AND MONITORING COMPLIANCE OF A CONFLICTS OF INTEREST POLICY IS PERFORMED AT MONTHLY MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalProgramServiceExpensesAmt0329635
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IRS990/TotalRevenueGrp/ExclusionAmt04387
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0506519
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0537641
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ReturnHeader/BusinessOfficerGrp/PhoneNum09313746754
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-09
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBIA
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd038401
ReturnHeader/PreparerPersonGrp/PhoneNum06153733771
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN D WARREN CPA
ReturnHeader/ReturnTs02023-05-10T13:51:24-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GINA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RUSSELL
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

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

Open filing
Assets
$322,565
Liabilities
$7,353
Net assets
$315,212
Revenue
$537,641
Expenses
$333,214
Net income
$204,427
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.99$0.08$4.91$8.25$8.05$0.20
2023Detailed filing. Detailed filing data is available for this year.$4.65$0.01$4.64$7.32$5.90$1.42
2022Detailed filing. Detailed filing data is available for this year.$3.23$0.07$3.15$5.38$3.33$2.04
2021Detailed filing. Detailed filing data is available for this year.$1.19$0.03$1.16$2.37$1.20$1.16