Overview
What is The Thrifty Nickel Inc?
The Thrifty Nickel Inc, situated in Mississippi, is a nonprofit organization with a primary focus on selling secondhand merchandise to fund its charitable activities. Its primary charitable activity, as outlined in its bylaws, is to operate a shelter for homeless men and contribute to the communities where its retail stores are based. The organization provides essential items such as clothing, shoes, food, and small household appliances to families in need, aiming to improve their lives. The Thrifty Nickel Inc's mission involves promoting wellness, hope, and peace among homeless men, with a vision of better lives, families, and communities worldwide through the ministry of Jesus Christ. Its values include hope, love, compassion, and peace.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 16%
The Thrifty Nickel Inc has received a low rating of 16%, resulting in a Zero-Star out of Four Stars status. This score reflects significant concerns in both accountability and financial practices. The absence of independent board members is particularly alarming, as it raises questions about governance and oversight. Additionally, the organization has not provided financial statements, which limits transparency for potential donors.
Strengths noted include the existence of a conflict of interest policy and documentation of board meeting minutes. However, these positives are overshadowed by critical shortcomings, such as the lack of a whistleblower policy and missing essential documents on their website. The financial indicators are concerning, with a very low program expense ratio of 7.81%, suggesting that a minimal amount of funds are being directed towards actual programs.
Overall, the combination of poor governance practices and lack of transparency highlights significant limitations in The Thrifty Nickel Inc’s operations. Potential donors should exercise caution and seek further information before contributing to this organization.
This AI summary has been generated from information found on Charity Navigator.
Is The Thrifty Nickel Inc legitimate?
The Thrifty Nickel Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Thrifty Nickel Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $154,315
For more financial information, click here
What is the mission statement of The Thrifty Nickel Inc?
The Thrify Nickel Inc, as per its statement of purpose, was established with the primary goal of selling used merchandise and other goods to support charitable activities, including those defined under Section 501(C)(3). The organization's past, present, and planned activities primarily revolve around the sale of used merchandise to support its charitable initiatives. The primary charitable activity, as outlined in Article 2 of its bylaws, is operating a shelter for homeless men and giving back to the communities where its retail stores are located. The organization's mission statement, vision, and values are: Mission Statement: To provide a pathway of wellness, hope, and peace to homeless men, and to provide clothing, shoes, food, and small household appliances to families in need within their communities to improve their lives. Vision: Aiming for better lives, better families, better communities, and a better world through the ministry of Jesus Christ. Values: Emphasizing hope, love, compassion, and peace.
Who is the CEO of The Thrifty Nickel Inc?
Ricky L Rogers is the President of The Thrifty Nickel Inc.
What is the revenue of The Thrifty Nickel Inc?
The Thrifty Nickel Inc's revenue in 2022 was $514,594.
Who are the executives of The Thrifty Nickel Inc and what are their salaries?
The average compensation at The Thrifty Nickel Inc during 2022 was $12,860. There are 12 employees and 4 volunteers at The Thrifty Nickel Inc.
Here are 3 key members and their salaries:
- Compensation: $23,400
- Related: $0
- Other: $0
- Compensation: $18,200
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Thrifty Nickel Inc?
The Thrifty Nickel Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Thrifty Nickel Inc
The Thrifty Nickel Inc, as per its statement of purpose and bylaws, has been established with the primary mission to support charitable activities, specifically those defined under Section 501(C)(3). The organization achieves this objective by selling used merchandise and other goods. The primary charitable activity, as outlined in Article 2 of the bylaws, is to operate a shelter for homeless men and give back to the communities where its retail stores are located. The organization provides necessary items such as clothing, shoes, food, and small household appliances to families in need, aiming to improve their lives. In alignment with its mission statement, The Thrifty Nickel Inc aspires to provide a pathway of wellness, hope, and peace to homeless men, envisioning better lives, families, communities, and a better world through the ministry of Jesus Christ. The organization's values include hope, love, compassion, and peace.
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Impact
July, 2024
The Thrifty Nickel Inc's impact can be seen in its dedication to providing a pathway of wellness, hope, and peace to homeless men in Philadelphia, MS. Through the sale of used merchandise and other goods, the organization supports its charitable activities, including operating a shelter for homeless men and giving back to the communities where its retail stores are located. The organization also provides clothing, shoes, food, and small household appliances to families in need within the community to improve their lives. By embodying values of hope, love, compassion, and peace, The Thrifty Nickel Inc is making a tangible difference in bettering the lives of individuals and families in need.
This information is meant to be a general summary of The Thrifty Nickel Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $514,594
- Gross Receipts: $514,594
Assets and Liabilities:
- Total Assets: $120,846
- Total Liabilities: $0
- Net Assets: $120,846
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$514,594
Organization Details
Founding Year
2017
Phone
(601) 507-2467Principal Officer
Ricky L Rogers
Main Address
1120 EAST MAIN STREET SUITE 17, PHILADELPHIA, MS, 39350
NTEE Category
Code: P29 - Human services
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