Thrivent Financial for Lutherans (EIN 390123480) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1902

Legal Domicile

Principal Officer

TERESA RASMUSSEN

Phone

6128445225

Tax Period

2023-01-01 to 2023-12-31

Thrivent Financial for Lutherans, founded in 1902, is a large national nonprofit that reported $10.6B in total revenue in fiscal year 2023. Expenses of $10.1B left a modest 5% surplus.

Mission

THRIVENT FINANCIAL FOR LUTHERANS IS A FRATERNAL BENEFIT SOCIETY OPERATING UNDER THE LODGE SYSTEM AND PROVIDING LIFE, HEALTH, AND OTHER BENEFITS TO ITS MEMBERS & DEPENDENTS

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,193,461,875

Investment Income $2,252,605,307

Other Revenue $1,190,512,512

TOTAL REVENUE $10,636,579,694

Expense Breakdown

Grants Paid $96,402,125

Salaries & Benefits $768,225,647

Fundraising Expenses $0

Other Expenses $777,925,306

TOTAL EXPENSES $10,123,126,946

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,636,579,694	$10,282,948,737	+0.0%
Expenses	$10,123,126,946	$9,133,658,483	+0.1%
Net Income	$513,452,748	$1,149,290,254	-0.6%

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

Governance

Voting Members

Independent Members

Employees

8219

Volunteers

2100000

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

$36,873,353

Total Directors

$3,298,657

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERESA RASMUSSEN	CEO	55.0	Officer	$7,555,786	$9,972,704	$17,528,490
DAVID ROYAL	EVP, CFO	55.0	Officer	$4,111,642	$2,543,933	$6,655,575
PAUL JOHNSTON	EVP, GENERAL COUNSEL	55.0	Officer	$3,800,930	$2,583,147	$6,384,077
MARY JANE FORTIN	EVP, COO	55.0	Officer	$4,113,361	$2,191,850	$6,305,211
CAROLYN SAKSTRUP	EVP, GROWTH & GENEROSITY	55.0	Highest	$2,448,074	$1,847,876	$4,295,950
MATTHEW FINN	VP, HEAD OF EQUITY FUNDS	55.0	Highest	$3,698,110	$538,270	$4,236,380
JONATHAN DOERING	FINANCIAL ASSOCIATE	55.0	Highest	$1,428,519	$55,018	$3,847,914
ERIC BILGER	FINANCIAL ASSOCIATE	55.0	Highest	$2,365,860	$43,244	$3,719,775
RYAN ECKHARDT	PRACTICE DEVELOPER	55.0	Highest	$1,065,533	$55,018	$3,136,217
N CORNELL BOGGS	CHAIR OF THE BOARD	12.0	Director	$378,833	$2,064	$380,897
KIRK FARNEY	DIRECTOR	10.0	Director	$254,167	$516	$254,683
BRADFORD CRESWELL	DIRECTOR	10.0	Director	$254,167	$0	$254,167
ERIC DRAUT	DIRECTOR	10.0	Director	$254,167	$0	$254,167
KATHRYN MARINELLO	DIRECTOR	10.0	Director	$254,167	$0	$254,167
LYNN CRUMP-CAINE	DIRECTOR	10.0	Director	$252,083	$0	$252,083
ANGELA RIEGER	DIRECTOR	10.0	Director	$229,167	$0	$229,167
DEBORAH ACKERMAN	DIRECTOR	10.0	Director	$229,167	$0	$229,167
JILL LOUIS	DIRECTOR	10.0	Director	$229,167	$0	$229,167
KENNETH CAROW	DIRECTOR	10.0	Director	$229,167	$0	$229,167
MARK JESKE	DIRECTOR	10.0	Director	$229,167	$0	$229,167
NICHOLE PECHET	DIRECTOR	10.0	Director	$229,167	$0	$229,167
BRIAN MCGRANE	DIRECTOR	10.0	Director	$191,667	$0	$191,667
TERRY TIMM	SVP, PRODUCT MANUFACT.(FORMER)	0.0		$186,782	$0	$186,782
JAMES THOMSEN	SVP, DISTRIBUTION (FORMER)	0.0		$179,449	$0	$179,449
RANDY BOUSHEK	EVP, CFO (FORMER)	0.0		$130,326	$0	$130,326
BRAD HEWITT	CEO(FORMER)	0.0		$118,403	$0	$118,403
BONNIE RAQUET	DIRECTOR	10.0	Director	$81,824	$0	$81,824
FREDERICK KRAEGEL	DIRECTOR (FORMER)	0.0		$25,993	$0	$25,993
ALICE RICHTER	DIRECTOR (FORMER)	0.0		$24,986	$0	$24,986
MARK KUHLMANN	DIRECTOR (FORMER)	0.0		$23,978	$0	$23,978

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
2024	No data	No data	No data	No data
2023	$10,636,579,694	$10,123,126,946	$113,534,975,998	$513,452,748
2022	$10,282,948,737	$9,133,658,483	$107,958,225,885	$1,149,290,254
2021	$11,411,972,004	$8,849,883,063	$115,568,692,144	$2,562,088,941
2020	$9,215,966,710	$8,558,921,003	$109,337,088,721	$657,045,707
2019	$9,585,386,020	$8,595,754,017	$100,652,305,618	$989,632,003
2018	$9,556,874,782	$8,350,497,512	$90,501,091,616	$1,206,377,270

Thrivent Financial for Lutherans