Overview
What is Thrift Love For Vocational Abilities Corp?
Thrift Love For Vocational Abilities Corp is a nonprofit organization situated in Columbia, Tennessee. Their primary mission is to provide sustainable employment opportunities with competitive wages for adults with special needs or disabilities. They achieve this by reselling gently used donated items such as clothing, household goods, furniture, and more. This venture not only offers employment but also maximizes funds for their cause, contributing positively to the community. The organization currently employs 27 individuals, demonstrating their commitment to empowering and supporting individuals with unique abilities.
Official website here: www.thriftlove.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (73%)
Thrift Love For Vocational Abilities Corp has received a rating of "Needs Improvement" from Charity Navigator, indicating that while the organization demonstrates some strengths, there are significant areas requiring attention. The nonprofit boasts a strong accountability score, particularly with 100% of its board members being independent, which contributes positively to governance practices. The program expense ratio is notably high at 99%, reflecting a strong commitment to funding its programs directly.
However, the organization's financial transparency is a considerable weakness, as it has received a score of zero for the absence of financial statements on its website and for missing document retention policies. Furthermore, the lack of a whistleblower policy and the absence of posted tax forms raise concerns regarding its operational transparency and adherence to best practices. Improving these aspects could enhance trust and confidence among donors and stakeholders.
Overall, while Thrift Love For Vocational Abilities Corp shows dedication to its mission through substantial program funding, it needs to address its financial reporting and governance policies to improve its rating and ensure accountability to the community it serves.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Thrift Love For Vocational Abilities Corp?
100% of reviewers on Facebook recommend Thrift Love For Vocational Abilities Corp. Here is a summary of their reviews:
The store is praised for its fantastic selection of items and outstanding staff. Reviewers frequently highlight the appealing prices and emphasize the positive impact of supporting a good cause. Overall, the sentiment reflects a strong satisfaction with both the shopping experience and the mission behind the nonprofit.
This AI summary has been generated from reviews found on Facebook.
Is Thrift Love For Vocational Abilities Corp legitimate?
Thrift Love For Vocational Abilities Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thrift Love For Vocational Abilities Corp 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: $154,670
For more financial information, click here
Official website here: www.thriftlove.org
What is the mission statement of Thrift Love For Vocational Abilities Corp?
Thrift Love For Vocational Abilities Corp is committed to providing sustainable employment opportunities with competitive wages to adults with special needs and disabilities. They achieve this by reselling gently used, donated items such as clothing, household goods, furniture, and more. The primary goal is to maximize funds for their mission, while simultaneously offering a work environment that encourages growth and independence for those involved. The corporation's activities contribute to the empowerment of individuals with special needs, enabling them to lead fulfilling lives and become active members of their communities.
Official website here: www.thriftlove.org
Who is the CEO of Thrift Love For Vocational Abilities Corp?
Ken Rakow is the President of Thrift Love For Vocational Abilities Corp.
Official website here: www.thriftlove.org
What is the revenue of Thrift Love For Vocational Abilities Corp?
Thrift Love For Vocational Abilities Corp's revenue in 2022 was $537,641.
Official website here: www.thriftlove.org
Who are the executives of Thrift Love For Vocational Abilities Corp and what are their salaries?
The average compensation at Thrift Love For Vocational Abilities Corp during 2022 was $5,729. There are 27 employees at Thrift Love For Vocational Abilities Corp.
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Official website here: www.thriftlove.org
Where can I find the form 990 for Thrift Love For Vocational Abilities Corp?
Thrift Love For Vocational Abilities Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thriftlove.org
Learn more at the official website: www.thriftlove.org
Mission Statement of Thrift Love For Vocational Abilities Corp
Thrift Love for Vocational Abilities Corp is committed to providing sustainable employment opportunities with competitive wages to adults with special needs and disabilities. They achieve this by reselling gently used, donated items such as clothing, household goods, furniture, and more. This innovative approach allows the organization to maximize its funds, ensuring it can continue its mission of empowering individuals with unique abilities. By offering a supportive work environment, Thrift Love for Vocational Abilities Corp enables its employees to develop valuable skills, gain confidence, and contribute to their community in a meaningful way.
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Impact
July, 2024
Thrift Love For Vocational Abilities Corp's impact can be seen in the meaningful opportunities it provides to adults with special needs and disabilities. By offering mentored, sustainable employment with competitive wages, this organization helps individuals in their community gain valuable skills, independence, and a sense of purpose. Additionally, through the resale of donated goods, Thrift Love maximizes funds to support its mission of empowering individuals with special needs. Overall, Thrift Love For Vocational Abilities Corp is making a tangible difference in the lives of those they serve, promoting inclusivity and self-sufficiency in Columbia, TN.
This information is meant to be a general summary of Thrift Love For Vocational Abilities Corp. 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.
- Investment Income: $2,762
- Program Service Revenue: $508,144
- Gross Receipts: $590,707
Assets and Liabilities:
- Total Assets: $322,565
- Total Liabilities: $7,353
- Net Assets: $315,212
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STORE SALES
Revenue
$508,144
Organization Details
Founding Year
2021
Phone
(931) 374-6754Principal Officer
Ken Rakow
Main Address
1116 W 7TH STREET PMB 184, COLUMBIA, TN, 38401
Website
www.thriftlove.orgNTEE Category
Code: P29 - Human services
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