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Thrivent Financial for Lutherans

Form 990Tax year 2023EIN 39-0123480501(c)(8)
Filed Nov 14, 2024 · period ending Dec 31, 2023
IRS record
End-of-year assets

$113,534,975,998

Net assets $14,287,567,611

Total revenue

$10,636,579,694

Expenses $10,123,126,946

Officer compensation

$39,571,731

30 listed · 30 paid

Contractors listed

5

178 paid over $100K

Organization
Legal name
Thrivent Financial for Lutherans
Website
www.thrivent.com
Principal officer
TERESA RASMUSSEN
Phone
6128445225
Formed
1902
State of domicile
WI
Employees
8,219
Volunteers
2,100,000
Address
600 PORTLAND AVE S MSC 7300 · MINNEAPOLIS, MN, 554154402
Mission
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
Financial activity
Contributions$0
Program service revenue$7,193,461,875
Investment income$2,252,605,307
Total revenue$10,636,579,694
Grants paid$96,402,125
Salaries and benefits$768,225,647
Officer compensation$39,571,731
Total expenses$10,123,126,946
Investment management fees$875,172
Legal fees$6,603,515
Accounting fees$2,106,900
Other fees for services$150,678,360
Beginning assets$107,958,225,885
Ending assets$113,534,975,998
Liabilities$99,247,408,387
Net assets$14,287,567,611
Publicly traded securities$49,326,637,567
Other securities$23,119,630,386
Officers, directors and key employees
Compensation by person
  • TERESA RASMUSSEN$18M
  • DAVID ROYAL$7M
  • PAUL JOHNSTON$6M
  • MARY JANE FORTIN$6M
  • CAROLYN SAKSTRUP$4M
  • MATTHEW FINN$4M
  • JONATHAN DOERING$4M
  • Other (23 more)$11M
Independent contractors
Compensation by contractor
  • NOVUS MEDIA LLC$20M
  • COFORGE INC$12M
  • INNOVA SOLUTIONS INC$7M
  • IMPROVING MINNESOTA LLC$6M
  • BAIN COMPANY INC$6M
Part VII Section B · highest paid
Independent contractors
5
ContractorServicesLocationCompensation
NOVUS MEDIA LLCMARKETING CONSULTANTPHILADELPHIA, PA$20,191,273
COFORGE INCIT CONTRACTORATLANTA, GA$11,644,633
INNOVA SOLUTIONS INCSTAFFINGNEW YORK, NY$6,785,620
IMPROVING MINNESOTA LLCSTAFFINGMINNEAPOLIS, MN$6,234,305
BAIN COMPANY INCCONSULTINGBOSTON, MA$5,624,877
Part VII Section A
Officers, directors and key employees
30
NameRoleHours / weekCompensationFrom related orgsOther
TERESA RASMUSSENCEO
Officer55$7,555,786$0$9,972,704
DAVID ROYALEVP, CFO
Officer55$4,111,642$0$2,543,933
PAUL JOHNSTONEVP, GENERAL COUNSEL
Officer55$3,800,930$0$2,583,147
MARY JANE FORTINEVP, COO
Officer55$4,113,361$0$2,191,850
CAROLYN SAKSTRUPEVP, GROWTH & GENEROSITY
Highest compensated55$2,448,074$0$1,847,876
MATTHEW FINNVP, HEAD OF EQUITY FUNDS
Highest compensated55$3,698,110$0$538,270
JONATHAN DOERINGFINANCIAL ASSOCIATE
Highest compensated55$1,428,519$2,364,377$55,018
ERIC BILGERFINANCIAL ASSOCIATE
Highest compensated55$2,365,860$1,310,671$43,244
RYAN ECKHARDTPRACTICE DEVELOPER
Highest compensated55$1,065,533$2,015,666$55,018
N CORNELL BOGGSCHAIR OF THE BOARD
Trustee or director12$378,833$0$2,064
KIRK FARNEYDIRECTOR
Trustee or director10$254,167$0$516
BRADFORD CRESWELLDIRECTOR
Trustee or director10$254,167$0$0
ERIC DRAUTDIRECTOR
Trustee or director10$254,167$0$0
KATHRYN MARINELLODIRECTOR
Trustee or director10$254,167$0$0
LYNN CRUMP-CAINEDIRECTOR
Trustee or director10$252,083$0$0
ANGELA RIEGERDIRECTOR
Trustee or director10$229,167$0$0
DEBORAH ACKERMANDIRECTOR
Trustee or director10$229,167$0$0
JILL LOUISDIRECTOR
Trustee or director10$229,167$0$0
KENNETH CAROWDIRECTOR
Trustee or director10$229,167$0$0
MARK JESKEDIRECTOR
Trustee or director10$229,167$0$0
NICHOLE PECHETDIRECTOR
Trustee or director10$229,167$0$0
BRIAN MCGRANEDIRECTOR
Trustee or director10$191,667$0$0
TERRY TIMMSVP, PRODUCT MANUFACT.(FORMER)
Former0$186,782$0$0
JAMES THOMSENSVP, DISTRIBUTION (FORMER)
Former0$179,449$0$0
RANDY BOUSHEKEVP, CFO (FORMER)
Former0$130,326$0$0
BRAD HEWITTCEO(FORMER)
Former0$118,403$0$0
BONNIE RAQUETDIRECTOR
Trustee or director10$81,824$0$0
FREDERICK KRAEGELDIRECTOR (FORMER)
Former0$25,993$0$0
ALICE RICHTERDIRECTOR (FORMER)
Former0$24,986$0$0
MARK KUHLMANNDIRECTOR (FORMER)
Former0$23,978$0$0