Abundant Thrift INC

Tax-deductible

Bloomington, IL501(c)(3)ReligionEIN 92-1263656Revenue $250K in FY2024

On file with the IRS108 E Market St, 61701-4066 · Bloomington, ILTax-exempt since Apr 2024Publicly supported — 509(a)(2)

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The purpose of our organization is to teach and preach the gospel to all people. The organization is organized and operated exclusively for religious purposes within the meaning of Section 501(c)

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 80 volunteers and 5 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $1K a year · under 1% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$62K
to officers and key staff · 24% of spending
Top officer’s pay lower than 70% of similar orgs
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: -0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2K
-51% of total assets
Looks good: liabilities are -51% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$250K
-1% vs prior year
Spent
$264K
To programs
100%
Net assets
−$7K
By yearFY2023–FY2024
Revenue
$250K
FY2024▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2023$253K
FY2024$250K
Expenses
$264K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2023$237K
FY2024$264K
Net assets
−$7K
FY2024▼ -192%
Tap a bar for its year
Net assets by fiscal year
FY2023$7K
FY2024−$7K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2024.

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% · $263K Management & general 0% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990; $62K paid to officers and key staff.

Part VII, Section A · reportable compensation
Treasurer
$31,200Pt VII · Sec A
$31,200Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Robert Hany’s $31K as Treasurer is at the 30th percentile of top reported officer pay among 2133 $100K–1M religion 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 · 2 named individuals · Part VII

NameFY2024FY2023
Robert Hany$31,200$25,200
Robert D Haney$31,200$25,200

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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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 15aYes

Programs and updates

Teaches and preaches the gospel to all people for religious purposes.

Questions for Abundant Thrift INC

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Provided by the organization

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1 program · $263K · in their own filed words · FY2024
01

Thrift shop ran by volunteers.

$263Kprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$250K
Ln 12
Fees for servicesLn 2g$245K
Gifts and grantsLn 1h$5K
Money outPt IX
$264K
Ln 25
Programscol B$263K
Managementcol C$1K
Owns and owesPt X
−$7K
net assets · Ln 32
Cash and savingsLn 1–2−$4K
Total assetsLn 16−$4K
LiabilitiesLn 26$2K
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5K
Fees for servicesLn 2g$245K
Total revenueLn 12$250K
Assets in detailPt X, end of year
CashLn 1−$4K
Cash and savings togetherLn 1–2−$4K
Total assetsLn 16−$4K
LiabilitiesLn 26$2K
Net assetsLn 32−$7K
OperationsPt I, VI
EmployeesI 55
VolunteersI 680
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$9K−$4K
Total assetsLn 16$9K−$4K
LiabilitiesLn 26$2K$2K
Net assetsLn 32$7K−$7K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$31K$31K$0$0
Other salaries and wagesLn 7$56K$56K$0$0
Payroll taxesLn 10$7K$7K$0$0
Management feesLn 11a$875$875$0$0
Legal feesLn 11b$15$0$15$0
Accounting feesLn 11c$5K$5K$0$0
Other fees for servicesLn 11g$690$690$0$0
Office expensesLn 13$1K$451$658$0
OccupancyLn 16$125K$125K$0$0
Other expenses (24a–d)Ln 24$13K$13K$629$0
All other expensesLn 24e$24K$24K$1$0
Total functional expensesLn 25$264K$263K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $250K$264K−$14K−$7K 990 PDF
FY2023 $253K$237K$16K$7K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $250,270 revenue, 12 lines filed
I-8 Contributions and grants$4,869
I-9 Program service revenuePrior year $241,074$245,401
I-10 Investment income$0
I-11 Other revenuePrior year $12,087$0
I-12 Total revenuePrior year $253,161$250,270
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $66,762$94,233
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $169,951$169,708
I-18 Total expensesPrior year $236,713$263,941
I-19 Revenue less expensesPrior year $16,448−$13,671
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $250,270 across 4 lines filed
VIII-1f All other contributions, gifts and grants$4,869
VIII-1h Total contributions, gifts and grants$4,869
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$245,401
VIII-12 Total revenueRelated to mission $245,401 · Unrelated business $0 · Excluded from tax $0$250,270
Part IX · Statement of functional expenses $263,941 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $31,200 · Management $0 · Fundraising $0$31,200
IX-7 Other salaries and wagesPrograms $55,846 · Management $0 · Fundraising $0$55,846
IX-10 Payroll taxesPrograms $7,187 · Management $0 · Fundraising $0$7,187
IX-11a Management feesPrograms $875 · Management $0 · Fundraising $0$875
IX-11b Legal feesPrograms $0 · Management $15 · Fundraising $0$15
IX-11c Accounting feesPrograms $4,650 · Management $0 · Fundraising $0$4,650
IX-11g Other fees for servicesPrograms $690 · Management $0 · Fundraising $0$690
IX-13 Office expensesPrograms $451 · Management $658 · Fundraising $0$1,109
IX-16 OccupancyPrograms $124,601 · Management $0 · Fundraising $0$124,601
IX-24 Other expenses (24a–d)Programs $12,828 · Management $629 · Fundraising $0$13,457
IX-24e All other expensesPrograms $24,310 · Management $1 · Fundraising $0$24,311
IX-25 Total functional expensesPrograms $262,638 · Management $1,303 · Fundraising $0$263,941
Part X · Balance sheet −$4,327 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $9,150−$4,327
X-16 Total assetsStart of year $9,150−$4,327
X-25 Other liabilitiesStart of year $2,018$2,212
X-26 Total liabilitiesStart of year $2,018$2,212
X-32 Total net assets or fund balancesStart of year $7,132−$6,539
X-33 Total liabilities and net assetsStart of year $9,150−$4,327
Part XI · Reconciliation of net assets −$6,539 net assets at year end
XI-1 Total revenue$250,270
XI-2 Total expenses$263,941
XI-3 Revenue less expenses−$13,671
XI-4 Net assets at start of year$7,132
XI-10 Net assets at end of year−$6,539

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

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