Thousand Currents

Nonprofit profile at a glance

EIN
770071852
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
San Francisco, CA, USA
Phone
4158248384
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
International Development

Official website

Reported finances

Revenue
$20,040,330
Expenses
$54,500,661
Assets
$28,024,818
Liabilities
$973,707

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

Leadership & pay

19 people listed

Executive titles in this filing

  • SOLOME LEMMA (PRESIDENT & CEO)
  • JENESHA DE RIVERA (VICE PRESIDENT, FINANCE)
  • CINDY CLARK (VICE PRESIDENT, GLOBAL OPERATIONS)
  • ZANELE SIBANDA (VICE PRESIDENT, GLOBAL PROGRAMS)

Highest reported compensation

  • SOLOME LEMMA (PRESIDENT & CEO): $294,058 total reported compensation
  • KATHERINE ZAVALA ((FORMER) DIR OF LEARNING INIT): $253,941 total reported compensation
  • CINDY CLARK (VICE PRESIDENT, GLOBAL OPERATIONS): $238,085 total reported compensation

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

Overview

Mission

Through our grant making program, thousand currents partners with organizations and movements in the global south that are creating lasting solutions to societal challenges. Our partners develop solutions that are innovative and impactful. They work to ensure their communities have access to healthy and locally grown food, are able to enjoy economic prosperity that generates wellbeing for all people, and live in a safe and healthy environment that supports abundant life.

What it reported doing in 2024

Philanthropic organizing and outreach: thousand currents works to educate, train and support philanthropists to engage in meaningful and transformative giving through programs such as the thousand currents academy which are housed under thousand currents' center for transforming philanthropy. The center for transforming philanthropy is a comprehensive, timely, and field-building approach to shifting practices in the philanthropy.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 88% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 67
  • Accountability: 100
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.3%; rating input score 93
  • Fundraising efficiency: $11.09 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Pass
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Pass
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -172%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 4%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 22.9% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 16.2% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 18.4% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $50.8M in reported program spending
  • Leadership: top reported pay $294K · 19 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $147K reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.