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Second Source Thrift Store FY2024 filing

Tax-deductible

Jefferson Cty, TN501(c)(3)Since 2004Human ServicesEIN 62-1419841Revenue $676K in FY2024

On file with the IRSPo Box 197, 37760-0197 · Jefferson Cty, TNTax-exempt since Jul 2014Publicly supported charity — 170(b)(1)(A)(vi)

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Second Source Thrift Store provides relief to residents of the jefferson city, TN area by making donated good,(clothes, furniture, etc) available to customers at affordable prices and by providing financial support to other poverty relief ministries.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $20K a year · 3% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$162K
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$676K
-1% vs prior year
Spent
$659K
To programs
100%
Net assets
$1.0M
By yearFY2020–FY2025
Revenue
$676K
FY2024▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$427K
FY2022$598K
FY2023$685K
FY2024$676K
FY2025$805K
Expenses
$659K
FY2024▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$404K
FY2022$532K
FY2023$651K
FY2024$659K
FY2025$844K
Net assets
$1.0M
FY2024▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2022$1.1M
FY2023$1.2M
FY2024$1.0M
FY2025$977K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2012-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Jul 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $659K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Jean Ann Washam
Chairperson
$0Pt VII · Sec A
Dan Odonivan
Vice President
$0Pt VII · Sec A
Carol Melton
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Phil Kindred
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mary E Darby
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Second Source Thrift Store executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Sells donated goods affordably, helping local residents and poverty relief ministries.

Questions for Second Source Thrift Store

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Provided by the organization

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1 program · $659K · in their own filed words · FY2024
01

Donations from appalachian outreach to carson newman university for operating budget for poverty relief ministries.

$659Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $84K · 2020–2020
Appalachian Outreach Carson Newman UniversityFY2020$84,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$676K
Ln 12
Other incomeLn 4–11$669K
Gifts and grantsLn 1h$7K
Money outPt IX
$659K
Ln 25
Programscol B$659K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$90K
Total assetsLn 16$1.2M
LiabilitiesLn 26$162K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7K
Other incomeLn 4–11$669K
Total revenueLn 12$676K
Assets in detailPt X, end of year
CashLn 1$90K
Cash and savings togetherLn 1–2$90K
Total assetsLn 16$1.2M
LiabilitiesLn 26$162K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 557
VolunteersI 642
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$102K$90K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$162K$162K
Net assetsLn 32$998K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$118K$118K
Other salaries and wagesLn 7$425K$425K
Other fees for servicesLn 11g$454$454
Advertising and promotionLn 12$445$445
OccupancyLn 16$28K$28K
InterestLn 20$16K$16K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$9K$9K
All other expensesLn 24e$50K$50K
Total functional expensesLn 25$659K$659K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $805K$844K−$39K$977K 990 PDF
FY2024 Viewing $676K$659K$17K$1.0M 990 PDF
FY2023 $685K$651K$34K$1.2M 990 PDF
FY2022 $598K$532K$66K$1.1M 990 PDF
FY2021 Not on file
FY2020 $427K$404K$23K$1.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $676,351 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,321$7,000
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $681,503$669,351
I-12 Total revenuePrior year $684,824$676,351
I-13 Grants and similar amounts paidPrior year $117,600$117,600
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $438,808$424,877
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $94,425$116,959
I-18 Total expensesPrior year $650,833$659,436
I-19 Revenue less expensesPrior year $33,991$16,915
Part VI · Governance 7 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $676,351 across 4 lines filed
Lines not itemized here account for $669,351 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$7,000
VIII-1h Total contributions, gifts and grants$7,000
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $669,351 · Unrelated business $0 · Excluded from tax $0$676,351
Part IX · Statement of functional expenses $659,436 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $117,600$117,600
IX-7 Other salaries and wagesPrograms $424,877$424,877
IX-11g Other fees for servicesPrograms $454$454
IX-12 Advertising and promotionPrograms $445$445
IX-16 OccupancyPrograms $28,094$28,094
IX-20 InterestPrograms $15,808$15,808
IX-23 InsurancePrograms $13,182$13,182
IX-24 Other expenses (24a–d)Programs $8,522$8,522
IX-24e All other expensesPrograms $50,454$50,454
IX-25 Total functional expensesPrograms $659,436 · Management $0 · Fundraising $0$659,436
Part X · Balance sheet $1,176,794 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $102,440$89,683
X-8 Inventories for sale or useStart of year $1,057,439$1,087,111
X-16 Total assetsStart of year $1,159,879$1,176,794
X-17 Accounts payable and accrued expensesStart of year $161,518$161,518
X-26 Total liabilitiesStart of year $161,518$161,518
X-32 Total net assets or fund balancesStart of year $998,361$1,015,276
X-33 Total liabilities and net assetsStart of year $1,159,879$1,176,794
Part XI · Reconciliation of net assets $1,015,276 net assets at year end
XI-1 Total revenue$676,351
XI-2 Total expenses$659,436
XI-3 Revenue less expenses$16,915
XI-4 Net assets at start of year$998,361
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,015,276

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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