Thumb Industries Inc
- Assets
- $3.8m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 127
- Location
- Bad Axe, MI
- Founding
- 11/1970
- Data as of
- 09/2023
- EIN
- 38-1915119
Organization Overview
Thumb Industries Inc is located in Bad Axe, MI. The organization was established in 1970. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 09/2023, Thumb Industries Inc employed 127 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thumb Industries Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Thumb Industries Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $1.9m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE OTHER EXEMPT PURPOSE ACCOMPLISHMENTS
REHABILITATION SERVICES WERE PROVIDED FOR AN ESTIMATED 250 MENTALLY OR PHYSICALLY DISADVANTAGED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Brining Director | Trustee | $0 | |
Mark Brown Director | Trustee | $0 | |
Greg Newland Director | Trustee | $0 | |
Misty Rogers Director | Trustee | $0 | |
Jon Volk Director | Trustee | $0 | |
Shawn Webber Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $424,263 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $424,263 |
| Total Program Service Revenue | $1,906,295 |
| Investment income | $34,712 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,695 |
| Net Gain/Loss on Asset Sales | $5,000 |
| Net Income from Fundraising Events | $23,272 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,441,912 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,315,290 |
| Pension plan accruals and contributions | $14,828 |
| Other employee benefits | $76,601 |
| Payroll taxes | $106,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,065 |
| Office expenses | $28,133 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,636 |
| Travel | $6,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,280 |
| Interest | $8,218 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,436 |
| Insurance | $39,127 |
| All other expenses | $11,206 |
| Total functional expenses | $1,854,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,375 |
| Savings and temporary cash investments | $1,959,736 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $160,425 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,075 |
| Net Land, buildings, and equipment | $1,672,536 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,800,147 |
| Accounts payable and accrued expenses | $188,568 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $82,992 |
| Total liabilities | $271,560 |
| Net assets without donor restrictions | $3,525,783 |
| Net assets with donor restrictions | $2,804 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,800,147 |