Thrive Ministries Inc

Nonprofit profile at a glance

EIN
824938678
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Stanton, KY, USA
Phone
8598130774
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Official website

Reported finances

Revenue
$521,365
Expenses
$411,538
Assets
$264,096
Liabilities
$12,494

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Romone Gibbs (Vice President)
  • Narlon Edwards (President)

Highest reported compensation

  • Romone Gibbs (Vice President): $15,748 total reported compensation

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

Overview

Mission

Develop, support and facilitate programs that foster health and well-being including spiritual health and religious instruction.

What it reported doing in 2024

In 2022, Thrive received a significant donation to launch a media component for the ministry. Thrive began to outfit the campus with the required equipment and plans on rolling out a significant amount of content in the new year.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% 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 - Program spending has grown recently. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 59
  • Accountability: 58
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.5%; rating input score 51
  • Program expense ratio: 64.9%; rating input score 65
  • Fundraising efficiency: $31.42 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 13th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.1%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 43.2% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 24% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 33.5% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 51.5% of revenue deployed · 64.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 0 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $267K in reported program spending
  • Leadership: top reported pay $16K · 10 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 3 filing years from 2022 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.

  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.