Thrivent Financial For Lutherans
- Assets
- $115.6b
- Revenue
- $11.4b
- Investments
- $18.4b
- Employees
- 7,920
- Location
- Minneapolis, MN
- Founding
- 03/1965
- Data as of
- 12/2021
- EIN
- 39-0123480
Organization Overview
Thrivent Financial For Lutherans is located in Minneapolis, MN. The organization was established in 1965. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Thrivent Financial For Lutherans employed 7,920 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Thrivent Financial For Lutherans is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2021, Thrivent Financial For Lutherans generated $11.4b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $8.8b during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Thrivent Financial For Lutherans has awarded 15,291 individual grants totaling $552,595,630. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMMON BOND AMONG THRIVENT MEMBERS IS CHRISTIANITY. THRIVENT WELCOMES AS MEMBERS, CHRISTIANS AND THEIR FAMILIES WHO SUPPORT THE MISSION OF THE SOCIETY. AS A FRATERNAL BENEFIT SOCIETY, THRIVENT PROVIDES ASSISTANCE TO THE CHARITABLE, PATRIOTIC, RELIGIOUS, EDUCATIONAL OR MEMBER SOCIAL ENDEAVORS OF AND FOR OUR MEMBERS. THRIVENT ALSO PROVIDES LIFE, HEALTH, ACCIDENT AND OTHER BENEFITS TO MEMBERS. THESE BENEFITS ARE IN THE FORM OF LIFE INSURANCE AND ANNUITIES, DISABILITY INCOME INSURANCE, LONG-TERM CARE INSURANCE, AND MEDICARE SUPPLEMENT INSURANCE.
THRIVENT FINANCIAL AND ITS MORE THAN 2 MILLION MEMBERS CONDUCT FRATERNAL ACTIVITIES PRIMARILY THROUGH ITS LODGE SYSTEM, WHICH IS MADE UP OF LODGES THROUGHOUT THE UNITED STATES. OUR MEMBERS PARTICIPATE IN EDUCATIONAL, SOCIAL AND VOLUNTEER LODGE ACTIVITIES. EACH LODGE HAS A LEADERSHIP BOARD CONSISTING OF THRIVENT MEMBERS. LODGE SERVICE TEAMS ARE FORMED TO CONDUCT FUNDRAISERS AND SERVICE ACTIVITIES TO HELP INDIVIDUALS AND FAMILIES IN NEED, OR TO PROVIDE SUPPORT TO NOT-FOR-PROFIT ORGANIZATIONS. DURING 2021 THRIVENT MEMBERS VOLUNTEERED 10.7 MILLION HOURS THROUGH LODGE PROJECTS AND ACTIVITIES. THRIVENT AND ITS MEMBERS (THROUGH LODGE FUNDRAISING EVENTS AND RESOURCES ADDED TO COMMUNITY FUNDRAISERS) RAISED, CONTRIBUTED AND DONATED MORE THAN $238 MILLION TO HELP COMMUNITIES, CHURCHES AND INDIVIDUALS IN NEED.
PROGRAMS FOR EXPENSES INCURRED NECESSARY IN THRIVENT'S INSURANCE AND FRATERNAL ENDEAVORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Rasmussen CEO | Officer | 55 | $5,254,762 |
David Royal Evp, Cio | Officer | 55 | $3,140,859 |
Mary Jane Fortin Evp, Cco | Officer | 55 | $3,005,470 |
Matthew Finn Vp, Head Of Equity Funds | 55 | $2,798,578 | |
Mark Simenstad Vp,chief Investment Strategist | 55 | $2,685,742 | |
Vibhu Sharma Evp, CFO | Officer | 55 | $2,345,551 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckinsey Company Inc Mgmt Consultant | 12/30/21 | $36,255,109 |
Prophet Brand Strategy Brand Strategy | 12/30/21 | $11,444,258 |
Deloitte Consulting Llp Mgmt Consultant | 12/30/21 | $21,883,240 |
Canvas Worldwide Llc Digital Consultant | 12/30/21 | $45,520,522 |
Coforge Inc It Contractor | 12/30/21 | $12,458,451 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,819,234,327 |
| Investment income | $1,927,701,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,188,288 |
| Net Gain/Loss on Asset Sales | $297,740,720 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,411,972,004 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $91,027,194 |
| Grants and other assistance to domestic individuals. | $436,600 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $7,299,466,212 |
| Compensation of current officers, directors, key employees. | $34,613,471 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $512,729,769 |
| Pension plan accruals and contributions | $18,645,670 |
| Other employee benefits | $44,279,785 |
| Payroll taxes | $47,281,638 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,002,292 |
| Fees for services: Accounting | $2,444,572 |
| Fees for services: Lobbying | $555,982 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,493,571 |
| Fees for services: Other | $216,694,413 |
| Advertising and promotion | $45,491,616 |
| Office expenses | $0 |
| Information technology | $58,945,732 |
| Royalties | $0 |
| Occupancy | $21,502,309 |
| Travel | $3,010,996 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,287,383 |
| Insurance | $2,233,808 |
| All other expenses | $101,715,778 |
| Total functional expenses | $8,849,883,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,294,592,012 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $537,842,564 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,686,755 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,833,056 |
| Net Land, buildings, and equipment | $160,606,545 |
| Investments—publicly traded securities | $49,877,160,343 |
| Investments—other securities | $18,446,780,540 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,198,190,329 |
| Total assets | $115,568,692,144 |
| Accounts payable and accrued expenses | $113,789,912 |
| Grants payable | $300,000 |
| 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 | $101,759,807,423 |
| Total liabilities | $101,873,897,335 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $13,694,794,809 |
| Total liabilities and net assets/fund balances | $115,568,692,144 |
Grants Awarded
Over the last fiscal year, Thrivent Financial For Lutherans has awarded $70,607,391 in support to 1,503 organizations.
| Grant Recipient | Amount |
|---|---|
Columbus, OH PURPOSE: General Support | $5,575,718 |
Overland Park, KS PURPOSE: General Support | $3,236,186 |
Roseville, MN PURPOSE: General Support | $3,107,596 |
THRIVENT MEMBER NETWORK - SOUTH WISCONSIN (523) PURPOSE: General Support | $2,846,413 |
Lancaster, PA PURPOSE: General Support | $2,556,131 |
Omaha, NE PURPOSE: General Support | $2,427,335 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Thrivent Financial For Lutherans has recieved totaling $75,660.
| Awarding Organization | Amount |
|---|---|
The Community Foundation For Carver County St Cloud, MN PURPOSE: TO TRANSFER ASSETS | $75,660 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Financial Life Milwaukee, WI | $1,696,774,589 | $138,292,152 |
Catholic United Financial Arden Hills, MN | $1,060,682,360 | $64,273,025 |
Western Fraternal Life Association Madison, WI | $648,970,346 | $59,441,063 |
Sons Of Norway Minneapolis, MN | $334,895,080 | $46,264,264 |
National Mutual Benefit Madison, WI | $0 | $36,708,977 |
Fraternal Order Of Eagles Dickinson, ND | $2,078,420 | $1,416,789 |
Minnesota Masonic Childrens Clinic For Communication Disorders Bloomington, MN | $4,797,538 | $1,129,457 |
Benevolent & Protective Order Of Elks Of The Usa Bismarck, ND | $6,824,814 | $1,569,133 |
El Riad Shriners Sioux Falls, SD | $6,173,063 | $673,721 |
Knights Fraternal Corporation Of Bloomington Bloomington, MN | $363,241 | $931,289 |
Ancient & Accepted Scottish Rite Of Free Masonry So Juris Of Usa Des Moines, IA | $4,783,418 | $494,496 |
Benevolent & Protective Order Of Elks Of The Usa Mukwonago, WI | $355,590 | $423,234 |