Thrift Love

Analysis

Thrift Love is a registered charity in United States, based in Columbia, TN. It received its IRS tax-exemption ruling in February 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Thrift Love reported income of $732k and spending of $590k, spending 81% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $237k to $732k (+209%), an average of +76% a year. The sharpest change came in the year to December 2022, when income rose by 127%. Over the whole period it spent 69% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Thrift Love sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within TN. Charities of a similar size with the same main cause include Recipe for Success Foundation ($732k), River City Domestic Violence Center ($732k) and Wheels of Success Inc ($732k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.2% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $48k (8.1% of expenses). Other salaries and wages came to $283k. At year end it held assets of $465k against liabilities of $1,274, net assets of $464k. It reported 42 employees.