Thrive Center Inc

Nonprofit profile at a glance

EIN
813636925
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Louisville, KY, USA
Phone
5025534802
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Centers to Support the Independence of Specific Populations

Official website

Reported finances

Revenue
$400,000
Expenses
$206,211
Assets
$116,129
Liabilities
$164,439

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

Leadership & pay

9 people listed

Executive titles in this filing

  • SHERI ROSE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHERI ROSE (EXECUTIVE DIRECTOR): $67,350 total reported compensation

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

Overview

Mission

Spotlight innovation, promote healthy aging, and enhance the quality of life for those aged 50+.

What it reported doing in 2024

The thrive center was developed to spotlight innovation and promote healthy aging for those aged 50+ through the use of technology and education. The thrive center focuses on innovative products, dynamic programming for elders, and clinical assessment tools using cutting-edge innovation and technology.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.8%; rating input score 38
  • Program expense ratio: 73.3%; rating input score 73
  • Fundraising efficiency: $40.47 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • 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: 48.4%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 0.56; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 1.42; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 32.7%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -9.7% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 37.8% of revenue deployed · 73.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $151K in reported program spending
  • Leadership: top reported pay $67K · 9 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.