Thrive Peninsula

Analysis

Thrive Peninsula is a registered charity in United States, based in Newport News, VA. It received its IRS tax-exemption ruling in April 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Thrive Peninsula reported income of $2.3m and spending of $1.8m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to June 2023, income grew from $503k to $2.3m (+367%), an average of +47% a year. The sharpest change came in the year to June 2023, when income rose by 209%. Over the whole period it spent 81% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Thrive Peninsula sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Tulsa Childrens Coalition Inc ($2.3m), Cambodian Family ($2.3m) and Community Child Care Connection Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $72k (4.1% of expenses). Other salaries and wages came to $223k. At year end it held assets of $1.8m against liabilities of $587k, net assets of $1.2m. It reported 8 employees.