Thrive Washington
Thrive Washington's revenue and assets have collapsed, with latest filings showing $0 in assets.
EIN: 204829769 · Chicago, IL · NTEE: B21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $3.7M |
| Program Spending | 70% |
| Net Assets | $3.5M |
| Transparency Score | 30/100 |
Is Thrive Washington Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Thrive Washington directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Thrive Washington
Thrive Washington (EIN: 204829769) is a nonprofit organization based in Chicago, IL, classified under NTEE code B21. The organization reported total revenue of $1.9M and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Thrive Washington's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Thrive Washington is a mid-size nonprofit that has been operating for 20 years, with 9 years of IRS 990 filings on record (2011–2019). Revenue has grown at a compound annual rate of -18.3%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.5M |
| Total Expenses | $3.7M |
| Surplus / Deficit | $-1,207,100 |
| Total Assets | $3.7M |
| Total Liabilities | $193K |
| Net Assets | $3.5M |
| Operating Margin | -47.7% |
| Debt-to-Asset Ratio | 5.2% |
| Months of Reserves | 11.9 months |
Financial Health Grade: B
In 2019, Thrive Washington reported a deficit of $1.2M with expenses exceeding revenue, holds 11.9 months of operating reserves (strong position), has a debt-to-asset ratio of 5.2% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2019), Thrive Washington's revenue has declined at a compound annual growth rate (CAGR) of -18.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | +13.6% | -22.8% | -30.4% |
| 2018 | -84.7% | -71.3% | -45.9% |
| 2017 | -25.8% | +7.4% | -21.0% |
| 2016 | +56.5% | +7.2% | +45.2% |
| 2015 | -15.1% | +2.1% | -19.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Thrive Washington with a Mission Score of 30 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Thrive Washington allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.2%.
Executive Compensation Analysis
Thrive Washington consistently reported 0% officer compensation across all nine available filings, which is highly unusual for an organization that previously managed tens of millions in revenue and expenses, raising questions about how leadership was compensated or if the organization was entirely volunteer-led at the executive level.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Thrive Washington's IRS 990 filings:
- Dramatic decline in revenue from $19.6M (2016) to $1.88M (latest).
- Assets plummeted from over $12M (2016) to $0 (latest filing).
- Consistent reporting of 0% officer compensation despite significant revenue, raising transparency concerns.
- Expenses frequently exceeded revenue in multiple periods (e.g., 2017, 2018, 2019), indicating unsustainable financial practices.
- Current $0 asset balance suggests potential cessation of operations or severe financial distress.
Strengths
The following positive indicators were identified for Thrive Washington:
- Historically managed significant revenue and expenses, indicating capacity for large-scale operations in the past.
- No reported officer compensation could indicate a highly volunteer-driven model, though this also raises transparency questions.
Frequently Asked Questions about Thrive Washington
Is Thrive Washington a legitimate charity?
Thrive Washington (EIN: 204829769) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 30/100. It has 9 years of IRS 990 filings on record. Total revenue: $1.9M. 5 red flags identified. 2 strengths noted. Financial health grade: B.
How does Thrive Washington spend its money?
Thrive Washington directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Thrive Washington tax-deductible?
Thrive Washington is registered as a tax-exempt nonprofit (EIN: 204829769). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Thrive Washington's spending goes to programs?
Thrive Washington directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Thrive Washington compare to similar nonprofits?
With a transparency score of 30/100 (Poor), Thrive Washington is below average for NTEE category B21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Thrive Washington located?
Thrive Washington is headquartered in Chicago, Illinois and files with the IRS under EIN 204829769. It is classified under NTEE code B21.
How many years of IRS 990 filings does Thrive Washington have?
Thrive Washington has 9 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.9M in total revenue.
What caused the dramatic decline in Thrive Washington's revenue and assets from 2016 to the latest filing?
The IRS 990 filings show a sharp decrease in revenue from $19.6 million in 2016 to $1.88 million currently, and assets from over $12 million to $0. The filings themselves do not specify the cause, but such a decline often indicates a loss of major funding, a change in mission, or a winding down of operations.
Is Thrive Washington still actively operating given its $0 asset balance?
A $0 asset balance in the latest filing strongly suggests that Thrive Washington may no longer be actively operating or has undergone a significant restructuring, potentially liquidating all its holdings. Further investigation beyond the 990 data would be needed to confirm its current operational status.
How did Thrive Washington manage to operate with $0 officer compensation for many years?
The consistent reporting of 0% officer compensation across all filings is atypical for an organization of its former size. This could mean that executive leadership was entirely volunteer-based, compensated through a related entity not disclosed on the 990, or that the organization's structure did not involve traditional 'officer' compensation as defined by the IRS for these specific roles.
What was the purpose of the significant liabilities reported in previous years, such as $2.5 million in 2017?
The IRS 990 filings indicate substantial liabilities in previous years, reaching $2.5 million in 2017. Without more detailed financial statements, the specific purpose of these liabilities (e.g., program-related debt, operational loans, deferred revenue) cannot be determined from the summary 990 data alone.
Filing History
IRS 990 filing history for Thrive Washington showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2019), Thrive Washington's revenue has declined by 80.1%, moving from $12.7M to $2.5M. Total assets decreased by 63.5% over the same period, from $10.2M to $3.7M. Total functional expenses fell by 63.4%, from $10.2M to $3.7M. In its most recent filing year (2019), Thrive Washington reported a deficit of $1.2M, with expenses exceeding revenue. The organization holds $193K in liabilities against $3.7M in assets (debt-to-asset ratio: 5.2%), resulting in net assets of $3.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $2.5M | $3.7M | $3.7M | $193K | — | View 990 |
| 2018 | $2.2M | $4.8M | $5.3M | $620K | — | View 990 |
| 2017 | $14.5M | $16.9M | $9.8M | $2.5M | — | View 990 |
| 2016 | $19.6M | $15.7M | $12.5M | $1.9M | — | View 990 |
| 2015 | $12.5M | $14.7M | $8.6M | $1.7M | — | View 990 |
| 2014 | $14.8M | $14.4M | $10.7M | $1.6M | — | View 990 |
| 2013 | $14.3M | $12.6M | $11.0M | $2.3M | — | View 990 |
| 2012 | $6.7M | $8.8M | $8.2M | $1.2M | — | View 990 |
| 2011 | $12.7M | $10.2M | $10.2M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $2.5M, expenses of $3.7M, and assets of $3.7M (revenue +13.6% year-over-year).
- 2018: Revenue of $2.2M, expenses of $4.8M, and assets of $5.3M (revenue -84.7% year-over-year).
- 2017: Revenue of $14.5M, expenses of $16.9M, and assets of $9.8M (revenue -25.8% year-over-year).
- 2016: Revenue of $19.6M, expenses of $15.7M, and assets of $12.5M (revenue +56.5% year-over-year).
- 2015: Revenue of $12.5M, expenses of $14.7M, and assets of $8.6M (revenue -15.1% year-over-year).
- 2014: Revenue of $14.8M, expenses of $14.4M, and assets of $10.7M (revenue +3.4% year-over-year).
- 2013: Revenue of $14.3M, expenses of $12.6M, and assets of $11.0M (revenue +114.2% year-over-year).
- 2012: Revenue of $6.7M, expenses of $8.8M, and assets of $8.2M (revenue -47.5% year-over-year).
- 2011: Revenue of $12.7M, expenses of $10.2M, and assets of $10.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Thrive Washington:
Data Sources and Methodology
This transparency report for Thrive Washington is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.