Thistle Farms Inc

Analysis

Thistle Farms Inc is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in June 1993, 33 years ago. 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, Thistle Farms Inc reported income of $13.4m and spending of $12.7m, spending 95% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $6.8m to $13.4m (+98%), an average of +26% a year. The sharpest change came in the year to June 2022, when income rose by 98%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Thistle Farms Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include Center for Autism ($13.4m), Alcott Center for Mental Health Services ($13.4m) and Mariners Christian School ($13.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $255k (2.0% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $14.9m against liabilities of $3.4m, net assets of $11.5m. It reported 170 employees.