Renew Upscale Thrift Inc
- Assets
- $1.0m
- Revenue
- $363.2k
- Investments
- $0.0
- Employees
- 13
- Location
- Grand Rapids, MI
- Founding
- Data as of
- 06/2022
- EIN
- 86-2648953
Organization Overview
Renew Upscale Thrift Inc is located in Grand Rapids, MI. 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 06/2022, Renew Upscale Thrift Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Renew Upscale 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS TO REDUCE TUITION FOR ALL NORTHPOINTE CHRISTIAN SCHOOL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENEW UPSCALE THRIFT STORE OPENED ITS DOORS IN AUGUST 2021 TO RAISE FUNDS TO REDUCE TUITION FOR ALL NORTHPOINTE CHRISTIAN SCHOOL STUDENTS BY SALES OF DONATED MERCHANDISE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheila Tolsma Store Director | Officer | 30 | $19,910 |
Bill Vandyke Director | Trustee | 1 | $0 |
Justin Kemmerer Director | Trustee | 1 | $0 |
Ryan Schmidt Director | Trustee | 1 | $0 |
Christine Velting Secretary | OfficerTrustee | 2 | $0 |
Renee Lee Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $363,179 |
| Investment income | $50 |
| 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 | $363,229 |
| Statement of Expenses | |
|---|---|
| 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. | $35,317 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,786 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $962 |
| Payroll taxes | $6,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,473 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,359 |
| Advertising and promotion | $150 |
| Office expenses | $10,015 |
| Information technology | $5,032 |
| Royalties | $0 |
| Occupancy | $42,707 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,259 |
| Insurance | $4,669 |
| All other expenses | $0 |
| Total functional expenses | $192,403 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $440 |
| Savings and temporary cash investments | $37,041 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $472 |
| 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 | $3,604 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,048,316 |
| Accounts payable and accrued expenses | $4,936 |
| 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 | $691,621 |
| Unsecured mortgages and notes payable | $197,472 |
| Other liabilities | $0 |
| Total liabilities | $894,029 |
| Net assets without donor restrictions | $154,287 |
| 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 |
| Total liabilities and net assets/fund balances | $154,287 |