Refresh Thrift Inc

Nonprofit profile at a glance

EIN
851282905
IRS 990 coverage
2020–2021
Forms available
Form 990 2021
Location
Portage, MI, USA
Phone
2693664460
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Thrift Shops

Official website

Reported finances

Revenue
$218,616
Expenses
$211,174
Assets
$11,424
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • MORGAN WORDEN (EXECUTIVE DI): $82,692 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A non-profit thrift stroe that offers on-trend clothing, home decor, household goods, an more. All donations and purchase help support those in need within the kalamazoo community.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 90% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 93
  • Accountability: 59
  • Sustainability: 29
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.9%; rating input score 49
  • Program expense ratio: 50.6%; rating input score 51
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 21st percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.4%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.05; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 39.2%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 80.5% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 44.9% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: -25.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 48.9% of revenue deployed · 50.6% of spending went to programs
  • Governance: 4 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $107K in reported program spending
  • Leadership: top reported pay $83K · 5 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 2 filing years from 2020 to 2021
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.