Thrift Inc
- Assets
- $89.7k
- Revenue
- $29.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Palm Beach, FL
- Founding
- 01/1943
- Data as of
- 03/2023
- EIN
- 59-0802932
Organization Overview
Thrift Inc is located in Palm Beach, FL. The organization was established in 1943. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thrift Inc 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 03/2023, Thrift Inc generated $29.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $37.2k during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Thrift Inc has awarded 66 individual grants totaling $225,000. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul L Maddock Jr President | 0 | $0 | |
Randolph A Hopkins VP & Secretary | 0 | $0 | |
Eleanor L Love Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $28,800 |
| Interest on Savings | $713 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $29,513 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,200 |
| Contributions, gifts, grants paid | $36,000 |
| Total expenses and disbursements | $37,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $89,717 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $89,717 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Thrift Inc has awarded $36,000 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
A SECOND CHANCE PURPOSE: PROVIDES TUITION AND BOOKS SCHOLARSHIPS TO UNDERPR | $1,500 |
CENTER FOR CREATIVE EDUCATION PURPOSE: ART OFFERING CLASS ROOM AND AFTER SCHOOL | $1,000 |
CENTER FOR FAMILY SERVICE PURPOSE: TO PROVIDE INNOVATIVE CHILD DEVELOPMENT AND FAMILY | $1,500 |
CHAPMAN FOUNDATION PURPOSE: PROVIDES SUPPORT TO IMPROVE THE LIVES OF CHILDREN | $2,000 |
COVENANT HOUSE PURPOSE: OPEN DOOR FOR HOMELESS YOUTH | $5,000 |
HANLEY FOUNDATION PURPOSE: TO ELIMINATE ADDICTION THOUGH PREVENTION ADVOCACY | $3,000 |