Thrive1635 Support Corporation

Nonprofit profile at a glance

EIN
333414337
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3175244313
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$5,203
Expenses
$48,972
Assets
$7,484,263
Liabilities
$5,346,091

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

Leadership & pay

5 people listed

Executive titles in this filing

  • KENT KRAMER (PRESIDENT & CEO)

Highest reported compensation

  • KENT KRAMER (PRESIDENT & CEO): $786,620 total reported compensation
  • MATTHEW FORTNEY (CFO, CHAIR): $344,407 total reported compensation
  • JOSH COOPER (VP OF FINANCE, SECRETARY & TREASURER): $251,049 total reported compensation

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

Overview

Mission

Goodwill legacy group (glg) and its subsidiaries, gw commercial services, inc. (gwcs), goodwill of puerto rico (gpr), and goodwill education initiatives, inc. (gei), together with goodwill legacy group foundation, inc. (the foundation) (collectively referred to as "goodwill") are Indiana non-profit organizations that offer employment, education, and related services to disadvantaged adults and young people throughout central and southern Indiana. Goodwill defines disadvantaged individuals as those with a barrier to employment such as a disability, a criminal history, and/or a low education level (less than a high school diploma). Goodwill's management encourages interested readers to read the form 990 tax returns of all related entities in order to obtain complete information about the exempt activities, operations, and interrelationships of the collective central and southern Indiana goodwill organizations.

What it reported doing in 2024

Thrive1635 support corporation was established to support the mission of goodwill legacy group (formerly goodwill of central and southern Indiana) by facilitating financing through the new markets tax credit (nmtc) program. The organization's primary purpose is to enable investment in the rehabilitation and improvement of goodwill's corporate headquarters, which serves as a central hub for administrative, education, and workforce development activities. This investment is intended to expand the organization's capacity to deliver services, enhance program operations, and increase access to employment, education, and support services for individuals with barriers to employment in underserved communities.

Operating model

Revenue model
Investment-supported. 83% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - Most voting board members are independent and the filed numbers largely add up. 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: 0
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 32
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -841.2%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 152.83; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 180.5%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $787K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Related organizations: 5 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.

Key Signals

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

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 6/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.