Thistle & Nest
Thistle & Nest reported $12.9 million in revenue and $7.9 million in expenses for calendar year 2025. Of every $100 it spent, $98.79 went to program services, $1.21 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 99.0% of the total. Source: Form 990, 2025.
Where $100 of spending went
Calendar year 2025 · Form 990, Part IX, line 25 · total expenses $7.9MFor context, the median across 957 covered housing & shelter charities: $89.25 programs, $10.75 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2025 · Form 990, Part VIII · total revenue $13MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 98.8% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 1.2% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 1.0% | 17.7% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 1.0% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 99.0% | 64.8% |
| Highest reported compensation Part VII-A, columns D–F | Not reported | $299,181 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | Not reported | 1.59% |
| People paid over $100,000 Part VII, line 2 | 0 | 4 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 12.9 | 10.2 |
| Independent voting board members Part VI 1a–1b | 4 of 4 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2025 · Form 990, Part III · the three largest programs by expenseDevelopment of affordable housing in central oregon. The organization uses the land trust model. Annually there is land lease revenue and related expenses to maintain the land. In the second year of operation, units have been sold to individuals to help them gain home ownership
3 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b4 · 4 independent
- Audited financial statements Part XII 2bNo
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
Private foundation grants it received
1 private foundation reported grants to Thistle & Nest totaling $32,000 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Thistle & Nest's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Thistle & Nest, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Thistle & Nest spent in 2025, $98.79 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Thistle & Nest's spending goes to programs?
In calendar year 2025, Thistle & Nest reported that 98.8% of its $7.9 million in expenses went to program services, 1.2% to management and general and 0.0% to fundraising (Form 990, Part IX).
Where does Thistle & Nest get its money?
Of $12.9 million in revenue in calendar year 2025, 1.0% came from contributions and grants (including 1.0% from government grants) and 99.0% from program service revenue (Form 990, Part VIII).
Is Thistle & Nest a registered charity?
The IRS lists EIN 92-2694655 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2023, 2024, 2025. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2025: Form 990 for calendar year 2025, object 202602649349301750 · read the filing · XML
- 2024: Form 990 for calendar year 2024, object 202502469349300500 · read the filing
- 2023: Form 990 for calendar year 2023, object 202411369349310381 · read the filing
All filings for EIN 92-2694655: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.