Bibles For Missionsthrift Centers
- Assets
- $9.7m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 5
- Location
- Hudsonville, MI
- Founding
- 05/1993
- Data as of
- 12/2022
- EIN
- 38-3084876
Organization Overview
Bibles For Missionsthrift Centers, operating under the name Legacy Thrift, is located in Hudsonville, MI. The organization was established in 1993. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 12/2022, Legacy Thrift employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Thrift is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Legacy Thrift generated $6.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $6.3m during the year ending 12/2022. While expenses have increased by 6.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Legacy Thrift has awarded 18 individual grants totaling $9,980,132. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS FOR STRATEGICALLY SELECTED MINISTRIES THAT SHARE THE GOOD NEWS OF JESUS CHRIST AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS A NUMBER OF INDIVIDUAL STORES OPERATING IN SEVERAL STATES IN THE USA. THE ORGANIZATION HAS HUNDREDS OF INDIVIDUALS THAT DONATE THEIR TIME TO OPERATE AND MANAGE THE THRIFT STORES. DONATED ITEMS ARE ACCEPTED AT EACH STORE AND PLACED ON THE SALES FLOOR. DONATED GOODS ARE SOLD AT GREATLY REDUCED PRICES TO THE GENERAL PUBLIC. NET PROCEEDS ARE CONTRIBUTED TO THE BIBLE LEAGUE INTERNATIONAL, MINNESOTA COALITION FOR EASTERN EUROPE, IGO WORLDWIDE, WORLD MISSION, LIVING WATER, AND BELLEVUE BAPTIST CHURCH-MISSIONS FUND, AND USED TO PLACE NEW TESTAMENTS AND BIBLES THROUGH OUT THE WORLD. THE BIBLES ARE PLACED IN THE COUNTRIES CHOSEN BY EACH STORE. THROUGH THE EFFORTS OF HUNDREDS OF VOLUNTEERS AT BIBLES FOR MISSIONS THRIFT CENTERS, MILLIONS OF SCRIPTURES HAVE BEEN PLACED WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Scafe National Dir | Officer | 40 | $101,572 |
Dan Rinzema President | OfficerTrustee | 5 | $0 |
Ken Jipping Vice Chair | OfficerTrustee | 5 | $0 |
Julie Ozios VP Of Operat | OfficerTrustee | 5 | $0 |
Curt Chadwick Treasurer | OfficerTrustee | 5 | $0 |
Dan Jipping Asst. Secret | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,218 |
| All other contributions, gifts, grants, and similar amounts not included above | $112,076 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,294 |
| Total Program Service Revenue | $6,744,738 |
| Investment income | $3,892 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $74,578 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,938,502 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,160,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,572 |
| Compensation of current officers, directors, key employees. | $76,179 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,291 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,328 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,882 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,878 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,099,794 |
| Travel | $18,052 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $108,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $243,894 |
| Insurance | $0 |
| All other expenses | $169,702 |
| Total functional expenses | $6,320,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,077,097 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,636,751 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,729 |
| Total assets | $9,731,577 |
| Accounts payable and accrued expenses | $37,489 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $13,746 |
| Secured mortgages and notes payable | $2,617,636 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,668,871 |
| Net assets without donor restrictions | $7,062,706 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,731,577 |
Grants Awarded
Over the last fiscal year, Bibles For Missionsthrift Centers has awarded $4,160,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BIBLE LEAGUE INTERNATIONAL PURPOSE: GENERAL SUPPORT | $2,346,000 |
MINNESOTA COALITION FOR E EUROPE PURPOSE: GENERAL SUPPORT | $502,550 |
IGO WORLDWIDE PURPOSE: GENERAL SUPPORT | $497,850 |
WORLD MISSION PURPOSE: GENERAL SUPPORT | $249,700 |
BELLEVUE BAPTIST CHURCH PURPOSE: GENERAL SUPPORT | $218,400 |
LIVING WATER PURPOSE: GENERAL SUPPORT | $345,500 |