Thistle Farms, Inc.
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$15,430,099.00
Projected Expenses
$14,570,875.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Thistle Farms, Inc. IRS |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $13,479,393.00 | $13,532,502.00 | $8,505,898.00 |
| Total Expenses | $12,000,301.00 | $10,334,583.00 | $7,013,232.00 |
| Revenue Less Expenses | $1,479,092.00 | $3,197,919.00 | $1,492,666.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $627,750.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $406,600.00 | $893,041.00 | $778,160.00 |
| Contributions, Gifts, and Grants | $6,436,710.00 | $7,462,147.00 | $3,573,667.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $5,311,980.00 | $4,910,794.00 | $3,995,114.00 |
| Investment Income, Net of Losses | $0.00 | $0.00 | $0.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $85,988.00 | $121,467.00 | $87,743.00 |
| Other | $610,365.00 | $145,053.00 | $71,214.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $10,238,565.00 | $8,753,639.00 | $6,392,454.00 |
| Administration Expense | $1,866,742.00 | $1,588,382.00 | $1,398,040.00 |
| Fundraising Expense | $703,752.00 | $788,620.00 | $532,532.00 |
| Total Revenue/Total Expenses | 105% | 122% | 102% |
| Program Expense/Total Expenses | 80% | 79% | 77% |
| Fundraising Expense/Contributed Revenue | 5% | 7% | 6% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $6,436,710.00 | Contributions, Gifts, and Grants $7,462,147.00 | Program Revenue $3,995,114.00 |
| Second Highest Funding Source & Dollar Amount | Program Revenue $5,311,980.00 | Program Revenue $4,910,794.00 | Contributions, Gifts, and Grants $3,573,667.00 |
| Third Highest Funding Source & Dollar Amount | Foundations and Corporations $627,750.00 | Government Grants $893,041.00 | Government Grants $778,160.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $14,869,715.00 | $11,563,179.00 | $8,376,745.00 |
| Current Assets | $5,789,231.00 | $3,005,163.00 | $3,935,731.00 |
| Long-Term Liabilities | $2,020,299.00 | $20,000.00 | $1,129,025.00 |
| Current Liabilities | $1,354,524.00 | $898,539.00 | $20,000.00 |
| Total Net Assets | $11,494,892.00 | $10,664,640.00 | $7,227,720.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$94,424.00
What is the spending policy for your endowment?
Percentage
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Under Extension
Form 990s
Audit Documents
Foundation Staff Comments
| Financial figures were taken primarily from the audit, with supplementary information provided by the organization. Financials completed by Blankenship CPA Group, PLLC. Comments provided by Nicole Rose 04/01/2024. *The endowment for Magdalene Inc. is housed at The Community Foundation of Middle Tennessee. |
