Mitchell Thorp Foundation

EIN: 270824320 501(c)(3) Human Services

Carlsbad, CA

Total Revenue
$2,191,412
Total Expenses
$848,207
Total Assets
$3,389,040
Net Assets
$3,384,921
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
CA
Principal Officer
Brad Thorp
Phone
7606038853
Tax Period
2024-07-01 to 2025-06-30

Mitchell Thorp Foundation, founded in 2009, is a community nonprofit in the Human Services sector that reported $2.2M in total revenue in fiscal year 2024. Revenue surged 58% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 61% operating margin.

Mission

To provide support and financial assistance to families with children suffering from life threatening diseases and disorders.

Program Service Accomplishments

Program 1
Expenses: $669,951

To provide support and financial assistance to family with children suffering from life threatening diseases and disorders.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,035,656
Program Service Revenue $0
Investment Income $155,756
Other Revenue $0
TOTAL REVENUE $2,191,412

Expense Breakdown

Grants Paid $0
Salaries & Benefits $370,504
Fundraising Expenses $132,471
Program Expenses $669,951
Other Expenses $477,703
TOTAL EXPENSES $848,207

Year-over-Year Comparison

2024 2023 Change
Revenue $2,191,412 $1,386,273 +0.6%
Expenses $848,207 $618,174 +0.4%
Net Income $1,343,205 $768,099 +0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
5
Employees
3
Volunteers
105

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$171,004
Total Directors
7
$171,004
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brad Thorp President & CEO 40.00
Officer Director
$91,510 $0 $91,510
Beth Thorp Executive Dir. 40.00
Officer Director
$79,494 $0 $79,494
Kurt Eugene Director 0.00
Director
$0 $0 $0
Marcus Shaw Director 0.00
Director
$0 $0 $0
Kenny Wood Director 0.00
Director
$0 $0 $0
Kelly McLauglin Director 0.00
Director
$0 $0 $0
Michele Nutter Director 0.00
Director
$0 $0 $0
George Jackson Treasurer 0.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $2,191,412 $848,207 $3,389,040 $1,343,205
2024 $1,386,273 $618,174 $1,966,473 $768,099
2023 $771,570 $566,646 $1,199,733 $204,924
2022 $652,157 $379,962 $990,620 $272,195
2021 $403,295 $243,677 $721,722 $159,618
2020 $402,309 $351,285 $563,745 $51,024
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