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Thrive Ed EIN 83-3718861

Thrive Ed

EIN  83-3718861 Public charity (501(c)(3)) Minntonka, MN
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Size
$100K–1M
What they do
Empowers teachers and students to transform education and thrive through innovation and opportunity.
Leadership
Nicole Dimich · Executive Dir.
Money in and out
$273K revenue, $561K expenses
Bottom line
83% program efficiency

Empowers teachers and students to transform education and thrive through innovation and opportunity. For fiscal year 2023 it reported $273K in revenue, $561K in expenses, and $34K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$273K
Pt VIII · Ln 12
Total expenses
$561K
Pt IX · Ln 25
Net assets
$34K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$288K
Where spending went · Part IX cols B–D
Program services $0.83 Management & general $0.15 Fundraising $0.02
Program efficiency
83%
of spending reaches programs▲ +14% vs prior filing year
Operating runway
1.1mo
months of highly liquid reserves at operating expense rate▼ -85% vs prior filing year
Surplus margin
-105%
revenue over expenses, this year▼ -278% vs prior filing year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$273K
FY2023▼ -50%
Expenses
$561K
FY2023▲ +154%
Total assets
$54K
FY2023▼ -84%
Total liabilities
$20K
FY2023▼ -2%
Total revenue
$273K
Pt VIII · Ln 12
Total expenses
$561K
Pt IX · Ln 25
Net assets
$34K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$288K
Total assetsPt X · Ln 16$54K
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $467K of program spending, described in the organization's own filed words · FY2022.
01

Thrive Ed built prototypes for five elements of transformation, including restorative practice, co-design, and competency/assessment/grading rebranding. Its partnership with Hopkins High School generated an innovative school model that lived within the district but disrupted many structures and systems that often stand in the way of deep…

$467Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThrive Ed
EINHdr · item D83-3718861
Principal addressHdr · item CMinntonka, MN
WebsiteHdr · item Jwww.thrive-ed.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B12)
Ruling yearIRS BMFJul 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1bpending
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 · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Nicole Dimich
Executive Dir.
$0Pt VII · Sec A
$0Pt VII · Sec A
James Ewer
Director
$0Pt VII · Sec A
Angie Freese
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Thrive Ed executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$245K · 90%
Program service revenue$26K · 9%
Investment income$2K · 1%
Contributions & grants90%$245K
Program service revenue9%$26K
Investment income1%$2K
Total revenueLn 12$273K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.15 Fundraising $0.02
Program services83%$467K
Management & general15%$86K
Fundraising2%$8K
Total functional expensesLn 25$561K

Balance Sheet

Part X · end of year
CashLn 1$51K
Total assetsLn 16$54K
Total liabilitiesLn 26$20K
Total net assetsLn 32$34K
Months of cash on handcomputed1.1

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $51K · Operating expenses/yr $561K
1.1 months
Where the money goes
Program services
Program services $467K · Total expenses $561K
83%
Management & General
Management & general $86K · Total expenses $561K
15%
Fundraising
Fundraising $8K · Total expenses $561K
2%
Cost to raise $1
Fundraising expense (2-yr avg) $15K · Solicited contributions (2-yr avg) $374K
$0.04 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $245K · Total revenue $273K
90%
Government reliance
Government grants — · Total revenue $273K
—
Earned-income share
Program service revenue $26K · Total revenue $273K
9%
Investment reliance
Investment income $2K · Total revenue $273K
+1%
Program self-sufficiency
Program service revenue $26K · Total expenses $561K
5%
Growth & trend
Revenue growth (YoY)
This year $273K · Prior year $542K
-50%
Net-asset trend (YoY)
End of year $34K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $273K · Expenses $561K
-105%
Liabilities-to-Assets
Total liabilities — · Total assets $54K
—
Net-asset ratio
Net assets $34K · Total assets $54K
62%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $54K
0%
People & payroll
Highest Reported Total Compensation
Individual Nicole Dimich · Reported title Executive Dir. · Highest reported compensation $0 · Total expenses $561K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $90K · Total expenses $561K
16%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 83%——
Overhead ratio 15%——
Fundraising cost ratio 3%——
Revenue growth -50%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 5%——
Fundraising fee ratio 0%——

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 · received and paid
Grants received · FY2022
John & Denise Graves FoundationFY2022$101K
Ciresi Walburn Foundation for ChildrenFY2022$75K
The Minneapolis FoundationFY2022$75K
American Online Giving Foundation INCFY2022$34K
Fidelity Investments Charitable Gift FundFY2022$25K
Total grants receivedfrom 5 funders$311K
See all 5 funders →
Grants paid · 2 grants · $152K · 2021–2022
Hopkins Public SchoolsFY2022$118,170
Hopkins School DistrictFY2021$33,749

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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
FY2023 (Latest)$273K revenue · viewing · ⤓ 990 PDF
FY2022$542K revenue · ⤓ 990 PDF
FY2021$27K revenue · ⤓ 990 PDF
FY2020$111K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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