Thrive Ed EIN 83-3718861

Thrive Ed FY2022 filing

EIN  83-3718861 Public charity (501(c)(3)) Minntonka, MN
Form 990 (PDF)
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Size
$100K–1M
What they do
Empowers teachers and students to transform education and thrive through innovation and opportunity.
Leadership
Derrick Agate · Director
Money in and out
$542K revenue, $221K expenses
Bottom line
73% program efficiency

Empowers teachers and students to transform education and thrive through innovation and opportunity. For fiscal year 2022 it reported $542K in revenue, $221K in expenses, and $322K in net assets.Pt I

Where the money goes · FY2022
Total revenue
$542K
Pt VIII · Ln 12
Total expenses
$221K
Pt IX · Ln 25
Net assets
$322K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $321K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.17 Fundraising $0.10
Program efficiency
73%
of spending reaches programs
Operating runway
7.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+59%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$542K
FY2022▲ ×20
Expenses
$221K
FY2022
Total assets
$342K
FY2022
Total liabilities
$21K
FY2022
Total revenue
$542K
Pt VIII · Ln 12
Total expenses
$221K
Pt IX · Ln 25
Net assets
$322K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$321K
Total assetsPt X · Ln 16$342K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

1 program service account for $162K of program spending, described in the organization's own filed words · FY2021.
01

We launched a pilot class of high school students in our Collaborative Lab School design to develop five elements of the larger launch coming in the next fiscal year. Also we continued our Design2Thrive program grew as districts across Minnesota continued to access our programming as well as classroom coaching.

$162Kprogram 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 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$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$502K · 93%
Program service revenue$39K · 7%
Contributions & grants93%$502K
Program service revenue7%$39K
Investment income$164
Total revenueLn 12$542K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.17 Fundraising $0.10
Program services73%$162K
Management & general17%$38K
Fundraising10%$21K
Total functional expensesLn 25$221K

Balance Sheet

Part X · end of year
CashLn 1$138K
Total assetsLn 16$342K
Total liabilitiesLn 26$21K
Total net assetsLn 32$322K
Months of cash on handcomputed7.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $138K · Operating expenses (Pt IX) $221K · Less non-cash grants $100 · Cash operating expenses/yr $221K
7.5 months
Where the money goes
Program services
Program services $162K · Total expenses $221K
73%
Management & General
Management & general $38K · Total expenses $221K
17%
Fundraising
Fundraising $21K · Total expenses $221K
10%
Cost to raise $1
Fundraising expense $21K · Solicited contributions $502K
$0.04 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $502K · Total revenue $542K
93%
Government reliance
Government grants — · Total revenue $542K
Earned-income share
Program service revenue $39K · Total revenue $542K
7%
Investment reliance
Investment income $164 · Total revenue $542K
0%
Program self-sufficiency
Program service revenue $39K · Total expenses $221K
18%
Growth & trend
Revenue growth (YoY)
This year $542K · Prior year $27K
×20
Net-asset trend (YoY)
End of year $322K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $542K · Expenses $221K
+59%
Liabilities-to-Assets
Total liabilities — · Total assets $342K
Net-asset ratio
Net assets $322K · Total assets $342K
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $342K
0%
People & payroll
Highest Reported Total Compensation
Individual Derrick Agate · Reported title Director · Highest reported compensation $0 · Total expenses $221K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $4K · Total expenses $221K
2%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 73%
Overhead ratio 17%
Fundraising cost ratio 4%
Revenue growth ×20
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 4%
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
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 · ⤓ 990 PDF
FY2022$542K revenue · viewing · ⤓ 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) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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