Thrive Community Lending Inc

“The organization holds a written agreement with related entity inspiritus, inc. For the purpose of providing certain management duties. Inspiritus, inc. Provides the organization strategic financial advisement services, including annual budget development, monthly budget variance analysis, financial reporting, and strategic financial plan maintenance.”

“A copy of the form 990 was provided to all members of the board of directors for review and comment before publishing.”

“Conflicts of interest are required to be disclosed and may result in disciplinary action up to and including dismissal.”

“Inspiritus' audit report, annual report, and form 990 are available to the public upon written request.”

“THRIVE EXISTS TO PROVIDE ACCESS TO CAPITAL TO low-income people AND EMPOWER THEM TO ACHIEVE ECONOMIC SELF-SUFFICIENCY BY PROVIDING ASSISTANCE WITH DEVELOPMENT OR EXPANSION OF THEIR OWN BUSINESSES.”

“As an emerging community development financial institution (cdfi), thrive serves low-income people living in georgia who often cannot access business capital from traditional financial institutions due to limited credit history, limited business skills, limited knowledge of u.s. Financial systems, as well as language and cultural barriers. Thrive addresses these challenges by offering free education and assistance with credit-building, affordable capital to start or strengthen a small business, and targeted business services to ensure entrepreneurs successfully launch and sustain their small businesses. This has resulted in increased income, job creation, and ultimately community stabilization. During 2024, thrive's primary accomplishments and impact include: deployment of 9 microloans (21 to date) totalling $244,000 invested into at-risk communities to start new businesses to date with 22 new jobs created, irs recognition as a 501(c)(3) non-profit organizatiion, and funding from multiple private and government sources to expand our lending capital pool.”

“Employees thrive community lending, inc does not operate a payroll. Compensation is paid, processed and reported by a related entity, inspiritus, inc fein #58-1535692. During calendar 2024 4 individuals provided full-time services and 2 individual split their time between the organization and inspiritus, inc.. Inspiritus, inc is reimbursed for payroll related expenses.”

“Consulting - Total Expense: 18488, Program Service Expense: 17009, Management and General Expenses: 370, Fundraising Expenses: 1109; Payroll Fees - Total Expense: 510, Program Service Expense: 469, Management and General Expenses: 10, Fundraising Expenses: 31;”

“Reversal of prior year receivable - -143845; Total - -143845;”

“There have been no changes to the auditor selection process or the financial statement oversight process. The same auditors as the previous year continued to preform audit services.”