Thrive Community Enrichment & Development Corporation
Nonprofit profile at a glance
- EIN
- 842408948
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-N 2024
- Location
- Lake Charles, LA, USA
- Phone
- 3377218048
- Rating confidence
- Limited
- Sector
- Environmental Beautification and Aesthetics
Reported finances
- Revenue
- $0
- Expenses
- $0
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Dr Cathy S Banks (CEO / Executive Director for Elite Academy)
People named in this filing
- Dr Cathy S Banks (CEO / Executive Director for Elite Academy)
- Darthester Hall (Board Chair)
- Cynthia Guillory (Board Member)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The specific purpose for which Thrive Community Enrichment & Development Corporation is organized is to establish and operate a Kindergarten thru 12th Grade public charter school (Elite Academy, hereafter referred to as EA), and to be a community development center serving our local community by engaging in a broad range of strategies that promote community health and development and to also engage in activities which are necessary, suitable or convenient for the accomplishment of that purpose, or which are incidental thereto or connected therewith which are consistent with Section 501(c)(3) of the Internal Revenue Code. Since the organization's inception, we have been approved to receive a Charter from the Louisiana Department of Education. We are in the pre-opening stages of Elite Academy, which will launch its inaugural year in August 2026, opening with Kindergarten thru 2nd Grade (and adding a grade each year).
What it reported doing in 2024
After submitting a comprehensive charter school application, Thrive Community Enrichment & Development Corporation officially received the charter approval from the BESE Board (Board for Elementary and Secondary Education) of the Louisiana Department of Education to operate a charter system (district) under the name of Elite Academy. We are now in the pre-opening phase of the launch of our first school, Elite Academy. Elite Academy is located in Lake Charles, LA and will open in August 2026. Federal & State requirements include changing our accounting period to a fiscal year (July 1st thru June 30th) to align with government funding schedules and academic calendars.
Operating model
- Revenue model
- No positive adjusted resources. The filing reports no positive adjusted operating resources.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 86
- Accountability: 88
- Sustainability: NotEnoughData
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 85.7%; rating input score 86; 5th 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: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: Limited
- Total-asset coverage ratio: Limited
- Liabilities to assets ratio: Limited
- Officer compensation ratio: Limited
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 38 of 39 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- 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.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.