The Thrifty Nickel Inc

Nonprofit profile at a glance

EIN
821186957
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Philadelphia, MS, USA
Phone
6015072467
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Sector
Thrift Shops

Reported finances

Revenue
$638,020
Expenses
$524,624
Assets
$301,674
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • RICKY L ROGERS (PRESIDENT)

Highest reported compensation

  • RICKY L ROGERS (PRESIDENT): $23,400 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

As provided in its statement of purpose, the specific purposes for which the organization has been established is the sale of used merchandise and other goods to support charitable activities, including but not limited to, those as defined by section 501(c)(3). The past, present and planned activities is the sale of used merchandise to support its charitable activities. The primary charitable activity as provided in article 2 of the bylaws is to operate a shelter for homeless men and to give back to the communities where the retail stores reside. The organization's mission statement, vision and values are: mission statement: provide a pathway of wellness, hope, and peace to homeless men. Provide clothing, shoes, food, and small household appliances to families in need within our communities to better their lives. Vision: better lives better families better communities a better world through the ministry of jesus christ values: hope love compassion peace

What it reported doing in 2024

As provided in its statement of purpose, the specific purposes for which the organization has been established is the sale of used merchandise and other goods to support charitable activities, including but not limited to, those as defined by section 501(c)(3). The past, present and planned activities is the sale of used merchandise to support its charitable activities. The primary charitable activity as provided in article 2 of the bylaws is to operate a shelter for homeless men and to give back to the communities where the retail stores reside. The organization will operate a shelter for homeless men and will provide clothing, shoes, food, and small household appliances to families in need within our communities to better their lives. The organization incurs expenses to operate a shelter for homeless men and to provide clothing, shoes, food, and small household appliances to families in need within our communities to better their lives.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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

REVIEW - The filed numbers largely add up and revenue 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: 4
  • Transparency & Controls: 90
  • Accountability: 10
  • Sustainability: 60
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 3.6%; rating input score 4
  • Program expense ratio: 4.3%; rating input score 4
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.8%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: -6.9% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 10.8% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 31.1% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 3.6% of revenue deployed · 4.3% of spending went to programs
  • Governance: 0 of 3 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $23K in reported program spending
  • Leadership: top reported pay $23K · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 4/100.
  • High — Financial Efficiency: Program expense ratio scored 4/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.