Thrive Center INC EIN 81-3636925 Form 990 (PDF) Claim this org

Thrive Center INC FY2022 filing

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Promotes healthy aging and enhances quality of life for people over 50. For fiscal year 2022 it reported $342K in revenue, $312K in expenses, and $-130K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Louisville, KY
Website
www.thrivecenterky.org
Filings
5 on file (2020–2022)
Revenue
$342KFY2022
Expenses
$312K
Net assets
$-130K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  81-3636925 Public charity (501(c)(3)) Louisville, KY
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Promotes healthy aging and enhances quality of life for people over 50.
Leadership
Sheri Rose · Executive Director · $90K
Money in and out
$342K revenue, $312K expenses
Bottom line
73% program efficiency
Where the money goes · FY2022
Total revenue
$342K
Pt VIII · Ln 12
Total expenses
$312K
Pt IX · Ln 25
Net assets
$-130K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $30K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.22 Fundraising $0.05
Program efficiency
73%
of spending reaches programs
Operating runway
1.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+9%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$342K
FY2022▲ +53%
Expenses
$312K
FY2022▲ +7%
Total assets
$58K
FY2022▼ -54%
Total liabilities
$188K
FY2022▼ -34%
Total revenue
$342K
Pt VIII · Ln 12
Total expenses
$312K
Pt IX · Ln 25
Net assets
$-130K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$30K
Total assetsPt X · Ln 16$58K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThrive Center INC
EINHdr · item D81-3636925
Principal addressHdr · item CLouisville, KY
WebsiteHdr · item Jwww.thrivecenterky.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P80)
Ruling yearIRS BMFFeb 2018

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$90,000Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Past Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Sheri Rose’s $67K as Executive Director is at the 58th percentile of top reported officer pay among 2168 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sheri Rose$67,350$75,000$90,000$90,000$90,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $229K of program spending, described in the organization's own filed words · FY2022.
01

The thrive center was developed to spotlight innovation and promote healthy aging for those aged 50+ through the use of technology and education. The thrive center focuses on innovative products, dynamic programming for elders, and clinical assessment tools using cutting-edge innovation and technology.

$229Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants100%$342K
— government grantsLn 1e$95K
Total revenueLn 12$342K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.22 Fundraising $0.05
Program services73%$229K
Management & general22%$68K
Fundraising5%$15K
Total functional expensesLn 25$312K

Balance Sheet

Part X · end of year
CashLn 1$38K
Total assetsLn 16$58K
Total liabilitiesLn 26$188K
Total net assetsLn 32$-130K
Months of cash on handcomputed1.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $38K · Operating expenses/yr $312K
1.5 months
Where the money goes
Program services
Program services $229K · Total expenses $312K
73%
Management & General
Management & general $68K · Total expenses $312K
22%
Fundraising
Fundraising $15K · Total expenses $312K
5%
Cost to raise $1
Fundraising expense (3-yr avg) $14K · Solicited contributions (3-yr avg) $280K
$0.05 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $342K · Total revenue $342K
100%
Government reliance
Government grants $95K · Total revenue $342K
28%
Earned-income share
Program service revenue $0 · Total revenue $342K
0%
Investment reliance
Investment income $0 · Total revenue $342K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $312K
0%
Growth & trend
Revenue growth (YoY)
This year $342K · Prior year $223K
+53%
Net-asset trend (YoY)
End of year $-130K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $342K · Expenses $312K
+9%
Liabilities-to-Assets
Total liabilities — · Total assets $58K
Net-asset ratio
Net assets $-130K · Total assets $58K
-222%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $58K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sheri Rose · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $90K · Total expenses $312K
29%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $175K · Total expenses $312K
56%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 73%
Overhead ratio 22%
Fundraising cost ratio 4%
Revenue growth 53%
Accounting fee ratio 3%

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.

Grants

Schedule I · funders on record
Grants received · FY2024
AARPFY2024$15K
Total grants receivedfrom 1 funder$15K

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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
FY2024 (Latest)$400K revenue · ⤓ 990 PDF
FY2023$192K revenue · ⤓ 990 PDF
FY2022$342K revenue · viewing · ⤓ 990 PDF
FY2021$223K revenue · ⤓ 990 PDF
FY2020$441K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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