REFRESH THRIFT INC

EIN: 851282905 501(c)(3)

PORTAGE, MI

Total Revenue
$218,616
Total Expenses
$211,174
Total Assets
$11,424
Net Assets
$11,424
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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
2020
Legal Domicile
MI
Principal Officer
MORGAN WORDEN
Phone
2693664460
Tax Period
2021-01-01 to 2021-12-31

REFRESH THRIFT INC, founded in 2020, is a small nonprofit that reported $219K in total revenue in fiscal year 2021. Expenses of $211K left a modest 3% surplus.

Mission

A NON-PROFIT THRIFT STROE THAT OFFERS ON-TREND CLOTHING, HOME DECOR, HOUSEHOLD GOODS, AN MORE. ALL DONATIONS AND PURCHASE HELP SUPPORT THOSE IN NEED WITHIN THE KALAMAZOO COMMUNITY.

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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 (2021)

Revenue Breakdown

Contributions & Grants $10,541
Program Service Revenue $208,075
Investment Income $0
Other Revenue $0
TOTAL REVENUE $218,616

Expense Breakdown

Grants Paid $11,050
Salaries & Benefits $120,013
Fundraising Expenses $0
Program Expenses $106,835
Other Expenses $80,111
TOTAL EXPENSES $211,174

Year-over-Year Comparison

2021 2020 Change
Revenue $218,616 N/A N/A
Expenses $211,174 N/A N/A
Net Income $7,442 N/A N/A
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
5
Independent Members
4
Employees
2
Volunteers
10

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
0
$0
Total Directors
5
$82,692
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MORGAN WORDEN EXECUTIVE DI 40.00
Director
$82,692 $0 $82,692
BRENDEN BUCHANAN DIRECTOR 2.00
Director
$0 $0 $0
BILL CLIPFELL DIRECTOR 2.00
Director
$0 $0 $0
SUZI CLIPFELL DIRECTOR 2.00
Director
$0 $0 $0
ZOE WORDEN DIRECTOR 2.00
Director
$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
2021 $218,616 $211,174 $11,424 $7,442
2020 $138,521 $123,827 $14,794 $14,694
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