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Thrift INC EIN 59-0802932

Thrift INC

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A private foundation based in Palm Beach, FL. It reported about $34K in revenue for 2025. For fiscal year 2025 it reported $34K in revenue, $47K in expenses, and $58K in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Palm Beach, FL
Filings
6 on file (2020–2025)
Revenue
$34KFY2025
Expenses
$47K
Net assets
$58K
People
1
Filings
6
Updates
0
More identity details & actions ⌄
EIN  59-0802932 Private foundation / grantmaker Palm Beach, FL
Form 990 (PDF)
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Size
<$100K
What they do
A private foundation based in Palm Beach, FL. It reported about $34K in revenue for 2025.
Leadership
Paul L Maddock JR · President
Money in and out
$34K revenue, $47K expenses
Bottom line
—
Grants paid & assets · FY2025
Total revenue
$34K
Pt VIII · Ln 12
Total expenses
$47K
Pt IX · Ln 25
Net assets
$58K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$14K
Total assets
58K
deployed as grants and operations
Grants paid
46K
in FY2025
Grants made
16grants
total in period
Payout rate
79%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 16 grants · $46K · 2025–2025
Covenant HouseFY2025$5,000
The Lords PlaceFY2025$5,000
Season to ShareFY2025$4,000
Rehab Center of Palm BeachFY2025$4,000
Place of Hope INCFY2025$4,000
Center for Creative EducationFY2025$3,000
South Florida Science MuseumFY2025$3,000
Quantum HouseFY2025$3,000
Lighthouse for the BlindFY2025$3,000
Hanley CenterFY2025$3,000
Chapman FoundationFY2025$2,000
Town of Palm Beach United WayFY2025$2,000
A Second Chance Puppies and KittensFY2025$1,500
Center for Family ServiceFY2025$1,500
A Second ChanceFY2025$1,500
West Palm Beach Golf Community TrFY2025$1,000

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$3K
Median grantPart XV$3K
Largest grantPart XV$5K

Summary of the Filing

Part I · fiscal year 2025 · Form 990-PF
Revenue
$34K
FY2025▲ +1%
Expenses
$47K
FY2025▲ +7%
Total assets
$58K
FY2025▼ -19%
Total liabilities
$0
FY2025
Total revenue
$34K
Pt VIII · Ln 12
Total expenses
$47K
Pt IX · Ln 25
Net assets
$58K
Pt X · Ln 32
Total assetsPt II$58K

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThrift INC
EINHdr · item D59-0802932
Principal addressHdr · item CPalm Beach, FL
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFJan 1943

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$32K · 95%
Investment income$2K · 5%
Contributions & grants95%$32K
Investment income5%$2K
Total revenueLn 12$34K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.97 Operating & administrative $0.03
Grants & contributions paid97%$46K
Operating & administrative3%$1K
Total functional expensesLn 25$47K

Balance Sheet

Part X · end of year
CashLn 1$58K
Total assetsLn 16$58K
Total liabilitiesLn 26$0
Total net assetsLn 32$58K
Months of cash on handcomputed14.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $58K
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $34K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $34K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $34K · Prior year $33K
+1%
Revenue CAGR
FY2019 $33K · FY2025 $34K
+0.5%
Net-asset trend (YoY)
End of year $58K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $34K · Expenses $47K
-41%
Liabilities-to-Assets
Total liabilities — · Total assets $58K
—
Net-asset ratio
Net assets $58K · Total assets $58K
100%
People & payroll
Highest Reported Total Compensation
Individual Paul L Maddock JR · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $47K
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025$33K revenue · ⤓ 990 PDF
FY2024$34K revenue · ⤓ 990 PDF
FY2023$30K revenue · ⤓ 990 PDF
FY2022$32K revenue · ⤓ 990 PDF
FY2021$29K revenue · ⤓ 990 PDF
FY2020$33K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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