Thrifty Nickel Inc
- Assets
- $87.1k
- Revenue
- $545.6k
- Investments
- $0.0
- Employees
- 13
- Location
- Philadelphia, MS
- Founding
- 05/2018
- Data as of
- 12/2021
- EIN
- 82-1186957
Organization Overview
Thrifty Nickel Inc is located in Philadelphia, MS. The organization was established in 2018. 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 12/2021, Thrifty Nickel Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thrifty Nickel 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 12/2021, Thrifty Nickel Inc generated $545.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $489.3k during the year ending 12/2021. While expenses have increased by 14.4% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AS PROVIDED IN ITS STATEMENT OF PURPOSE, THE SPECIFIC PURPOSES FOR WHICH THE ORGANIZATION HAS BEEN ESTABLISHED IS THE SALE OF USED MERCHANDISE AND OTHER GOODS TO SUPPORT CHARITABLE ACTIVITIES, INCLUDING BUT NOT LIMITED TO, THOSE AS DEFINED BY SECTION 501(C)(3). THE PAST, PRESENT AND PLANNED ACTIVITIES IS THE SALE OF USED MERCHANDISE TO SUPPORT ITS CHARITABLE ACTIVITIES. THE PRIMARY CHARITABLE ACTIVITY AS PROVIDED IN ARTICLE 2 OF THE BYLAWS IS TO OPERATE A SHELTER FOR HOMELESS MEN AND TO GIVE BACK TO THE COMMUNITIES WHERE THE RETAIL STORES RESIDE. THE ORGANIZATION WILL OPERATE A SHELTER FOR HOMELESS MEN AND WILL PROVIDE CLOTHING, SHOES, FOOD, AND SMALL HOUSEHOLD APPLIANCES TO FAMILIES IN NEED WITHIN OUR COMMUNITIES TO BETTER THEIR LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS PROVIDED IN ITS STATEMENT OF PURPOSE, THE SPECIFIC PURPOSES FOR WHICH THE ORGANIZATION HAS BEEN ESTABLISHED IS THE SALE OF USED MERCHANDISE AND OTHER GOODS TO SUPPORT CHARITABLE ACTIVITIES, INCLUDING BUT NOT LIMITED TO, THOSE AS DEFINED BY SECTION 501(C)(3). THE PAST, PRESENT AND PLANNED ACTIVITIES IS THE SALE OF USED MERCHANDISE TO SUPPORT ITS CHARITABLE ACTIVITIES. THE PRIMARY CHARITABLE ACTIVITY AS PROVIDED IN ARTICLE 2 OF THE BYLAWS IS TO OPERATE A SHELTER FOR HOMELESS MEN AND TO GIVE BACK TO THE COMMUNITIES WHERE THE RETAIL STORES RESIDE. THE ORGANIZATION WILL OPERATE A SHELTER FOR HOMELESS MEN AND WILL PROVIDE CLOTHING, SHOES, FOOD, AND SMALL HOUSEHOLD APPLIANCES TO FAMILIES IN NEED WITHIN OUR COMMUNITIES TO BETTER THEIR LIVES. THE ORGANIZATION INCURS EXPENSES TO OPERATE A SHELTER FOR HOMELESS MEN AND TO PROVIDE CLOTHING, SHOES, FOOD, AND SMALL HOUSEHOLD APPLIANCES TO FAMILIES IN NEED WITHIN OUR COMMUNITIES TO BETTER THEIR LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ricky L Rogers President | Officer | 50 | $22,890 |
Vicky Osborne Vice Pres./t | Officer | 40 | $15,930 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $545,556 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $545,556 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $153,788 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,150 |
| Office expenses | $600 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,132 |
| Insurance | $14,074 |
| All other expenses | $105,965 |
| Total functional expenses | $489,320 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,808 |
| 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 | $500 |
| Inventories for sale or use | $12,000 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $66,778 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $87,086 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $87,086 |
| 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 | $87,086 |
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|---|---|---|
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Particular Council Of St Vincent De Paul Of Baton Rouge Lousiana Baton Rouge, LA | $15,291,955 | $12,191,305 |
Vapor Ministries Inc Sylacauga, AL | $7,649,507 | $9,129,570 |
Asbury Thrift Store Inc Madison, AL | $2,796,336 | $1,602,848 |
St Vincent De Paul Store Of Houma Houma, LA | $517,170 | $1,203,370 |
We Care Community Services Inc Dayton, TN | $2,321,590 | $1,212,770 |
First West Thrift Store West Monroe, LA | $656,028 | $1,065,577 |
Good Neighbors Thrift Shop Inc Lenoir City, TN | $1,316,271 | $1,004,712 |
Louise And Anne Thrift & Fleamarket Conway, AR | $997,150 | $686,243 |
Thrive Ministries Inc Monroe, LA | $94,946 | $677,599 |
Here Today Gone Tomorrow Company Prairieville, LA | $54,471 | $432,891 |
Thrifty Nickel Inc Philadelphia, MS | $87,086 | $545,556 |