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← THRIVENT FINANCIAL FOR LUTHERANS

Form 990 for tax year 2023

Filed by THRIVENT FINANCIAL FOR LUTHERANS.

Totals

Total revenue
$10,636,579,694
Total expenses
$10,123,126,946
Contributions and grants received
$0
Grants paid
$96,402,125
Program service revenue
$7,193,461,875
Investment income
$2,252,605,307
Other revenue
$1,190,512,512
Total assets, end of year
$113,534,975,998
Total liabilities, end of year
$99,247,408,387
Net assets or fund balances, end of year
$14,287,567,611
Program services expenses (Part IX)
$10,123,126,946
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • TERESA RASMUSSEN

    CEO

    Total calculated
    $17,528,490
    From this org
    $7,555,786
    From related orgs
    $0
    Other
    $9,972,704
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $1,116,234
    Bonus
    $5,870,347
    Other
    $569,205
    Deferred
    $9,957,950
    Nontaxable benefits
    $14,754
    Filer's total
    $17,528,490

  • DAVID ROYAL

    EVP, CFO

    Total calculated
    $6,655,575
    From this org
    $4,111,642
    From related orgs
    $0
    Other
    $2,543,933
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $684,987
    Bonus
    $3,230,417
    Other
    $196,238
    Deferred
    $2,522,966
    Nontaxable benefits
    $20,967
    Filer's total
    $6,655,575

  • PAUL JOHNSTON

    EVP, GENERAL COUNSEL

    Total calculated
    $6,384,077
    From this org
    $3,800,930
    From related orgs
    $0
    Other
    $2,583,147
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $714,459
    Bonus
    $2,974,786
    Other
    $111,685
    Deferred
    $2,562,180
    Nontaxable benefits
    $20,967
    Filer's total
    $6,384,077

  • MARY JANE FORTIN

    EVP, COO

    Total calculated
    $6,305,211
    From this org
    $4,113,361
    From related orgs
    $0
    Other
    $2,191,850
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $610,109
    Bonus
    $3,425,369
    Other
    $77,883
    Deferred
    $2,178,798
    Nontaxable benefits
    $13,052
    Filer's total
    $6,305,211

  • CAROLYN SAKSTRUP

    EVP, GROWTH & GENEROSITY

    Total calculated
    $4,295,950
    From this org
    $2,448,074
    From related orgs
    $0
    Other
    $1,847,876
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $593,374
    Bonus
    $1,815,395
    Other
    $39,305
    Deferred
    $1,846,800
    Nontaxable benefits
    $1,076
    Filer's total
    $4,295,950

  • MATTHEW FINN

    VP, HEAD OF EQUITY FUNDS

    Total calculated
    $4,236,380
    From this org
    $3,698,110
    From related orgs
    $0
    Other
    $538,270
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $359,698
    Bonus
    $3,070,757
    Other
    $267,655
    Deferred
    $523,516
    Nontaxable benefits
    $14,754
    Filer's total
    $4,236,380

  • JONATHAN DOERING

    FINANCIAL ASSOCIATE

    Total calculated
    $3,847,914
    From this org
    $1,428,519
    From related orgs
    $2,364,377
    Other
    $55,018
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    $256,464
    Other
    $1,172,055 + $2,364,377 related
    Deferred
    $34,230
    Nontaxable benefits
    $20,788
    Filer's total
    $1,483,537 + $2,364,377 related

  • ERIC BILGER

    FINANCIAL ASSOCIATE

    Total calculated
    $3,719,775
    From this org
    $2,365,860
    From related orgs
    $1,310,671
    Other
    $43,244
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    $584,195
    Other
    $1,781,665 + $1,310,671 related
    Deferred
    $34,230
    Nontaxable benefits
    $9,014
    Filer's total
    $2,409,104 + $1,310,671 related

  • RYAN ECKHARDT

    PRACTICE DEVELOPER

    Total calculated
    $3,136,217
    From this org
    $1,065,533
    From related orgs
    $2,015,666
    Other
    $55,018
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    $429,399
    Other
    $636,134 + $2,015,666 related
    Deferred
    $34,230
    Nontaxable benefits
    $20,788
    Filer's total
    $1,120,551 + $2,015,666 related

  • N CORNELL BOGGS

    CHAIR OF THE BOARD

    Total calculated
    $380,897
    From this org
    $378,833
    From related orgs
    $0
    Other
    $2,064
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    $378,833
    Bonus
    not reported
    Other
    not reported
    Deferred
    $2,064
    Nontaxable benefits
    not reported
    Filer's total
    $380,897

  • KIRK FARNEY

    DIRECTOR

    Total calculated
    $254,683
    From this org
    $254,167
    From related orgs
    $0
    Other
    $516
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $254,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    $516
    Nontaxable benefits
    not reported
    Filer's total
    $254,683

  • BRADFORD CRESWELL

    DIRECTOR

    Total calculated
    $254,167
    From this org
    $254,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $254,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $254,167

  • ERIC DRAUT

    DIRECTOR

    Total calculated
    $254,167
    From this org
    $254,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $254,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $254,167

  • KATHRYN MARINELLO

    DIRECTOR

    Total calculated
    $254,167
    From this org
    $254,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $254,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $254,167

  • LYNN CRUMP-CAINE

    DIRECTOR

    Total calculated
    $252,083
    From this org
    $252,083
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $252,083
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $252,083

  • ANGELA RIEGER

    DIRECTOR

    Total calculated
    $229,167
    From this org
    $229,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $229,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $229,167

  • DEBORAH ACKERMAN

    DIRECTOR

    Total calculated
    $229,167
    From this org
    $229,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $229,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $229,167

  • JILL LOUIS

    DIRECTOR

    Total calculated
    $229,167
    From this org
    $229,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $229,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $229,167

  • KENNETH CAROW

    DIRECTOR

    Total calculated
    $229,167
    From this org
    $229,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $229,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $229,167

  • MARK JESKE

    DIRECTOR

    Total calculated
    $229,167
    From this org
    $229,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $229,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $229,167

  • NICHOLE PECHET

    DIRECTOR

    Total calculated
    $229,167
    From this org
    $229,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $229,167
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $229,167

  • BRIAN MCGRANE

    DIRECTOR

    Total calculated
    $191,667
    From this org
    $191,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $191,667
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $191,667

  • TERRY TIMM

    SVP, PRODUCT MANUFACT.(FORMER)

    Total calculated
    $186,782
    From this org
    $186,782
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $186,782
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $186,782

  • JAMES THOMSEN

    SVP, DISTRIBUTION (FORMER)

    Total calculated
    $179,449
    From this org
    $179,449
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $179,449
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $179,449

  • RANDY BOUSHEK

    EVP, CFO (FORMER)

    Total calculated
    $130,326
    From this org
    $130,326
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $130,326
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $130,326

  • BRAD HEWITT

    CEO(FORMER)

    Total calculated
    $118,403
    From this org
    $118,403
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $118,403
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $118,403

  • BONNIE RAQUET

    DIRECTOR

    Total calculated
    $81,824
    From this org
    $81,824
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • FREDERICK KRAEGEL

    DIRECTOR (FORMER)

    Total calculated
    $25,993
    From this org
    $25,993
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $23,896
    Bonus
    not reported
    Other
    $2,097
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $25,993

  • ALICE RICHTER

    DIRECTOR (FORMER)

    Total calculated
    $24,986
    From this org
    $24,986
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $23,896
    Bonus
    not reported
    Other
    $1,090
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $24,986

  • MARK KUHLMANN

    DIRECTOR (FORMER)

    Total calculated
    $23,978
    From this org
    $23,978
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $23,896
    Bonus
    not reported
    Other
    $82
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $23,978

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

OTHER BENEFITS
"FIRST-CLASS TRAVEL" WAS ELIGIBLE TO BE UNDERTAKEN EXCLUSIVELY FOR BUSINESS PURPOSES BY ALL DIRECTORS, AND AS SUCH, WAS NOT TREATED AS TAXABLE COMPENSATION. "CHARTER TRAVEL" WAS UNDERTAKEN EXCLUSIVELY FOR BUSINESS PURPOSES BY SELECTED OFFICERS, AND AS SUCH, WAS NOT TREATED AS TAXABLE COMPENSATION. "TRAVEL FOR COMPANIONS" INCLUDES SPOUSAL/COMPANION TRAVEL FOR THE FOLLOWING LISTED PERSONS, AS WELL AS A TAX "GROSS-UP PAYMENT" (IF APPLICABLE): PERSON AND AMOUNT TERESA RASMUSSEN - $ 16,594 MARY JANE FORTIN - $ 31,527 PAUL JOHNSTON - $1,272 CAROLYN SAKSTRUP - $8,696 ALL OF THE ABOVE AMOUNTS WERE TREATED AS TAXABLE COMPENSATION TO THE APPLICABLE LISTED PERSON. "SOCIAL CLUB DUES" WERE PAID BY THE ORGANIZATION ON BEHALF OF TWO OFFICERS. AS THE CLUB IS USED EXCLUSIVELY FOR BUSINESS PURPOSES, THE AMOUNTS WERE NOT TREATED AS TAXABLE COMPENSATION. THE ORGANIZATION DID NOT PAY ANY "HEALTH CLUB DUES" ON BEHALF OF ANY OFFICERS DURING THE YEAR. **********************************************************
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS - SCH. J, PART I, LINE 4B
PERSON AND AMOUNT PAID: MATTHEW FINN - $203,519 TERESA RASMUSSEN - $495,113 DAVID ROYAL - $167,302 PAUL JOHNSTON - $80,898 A BRIEF EXPLANATION OF THE SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PRESENTLY OFFERED IS AS FOLLOWS: KEY EMPLOYEE RESTORATION PLAN - THE PURPOSE OF THIS PLAN IS TO PROVIDE SUPPLEMENTAL BENEFITS TO ELIGIBLE KEY EMPLOYEES. THE PLAN IS INTENDED TO BE AN UNFUNDED PLAN MAINTAINED PRIMARILY FOR THE PURPOSE OF PROVIDING DEFERRED COMPENSATION FOR A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES AS DESCRIBED IN SECTIONS 201(2), 301(A)(3) AND 401(A)(1) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA). AMOUNTS ACCRUED BUT UNPAID DURING THE CURRENT YEAR ARE REPORTED IN SCHEDULE J, PART II, COLUMN C ABOVE AS RETIREMENT AND OTHER DEFERRED COMPENSATION. ADDITIONALLY, SELECTED SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS WERE OFFERED IN PRIOR YEARS UNDER PERMISSIBLE TAX REGULATIONS AS THEY EXISTED AT THAT TIME, BUT ARE NO LONGER OPEN FOR PARTICIPATION. HOWEVER, PAYMENTS FROM THESE NONQUALIFIED PLANS MAY OCCUR IN SUBSEQUENT YEARS AND WILL BE REPORTED AS TAXABLE INCOME AT SUCH TIME. AS THE ABOVE PLANS ARE IN RUN-OFF STATUS DUE TO GRANDFATHERING PROVISIONS, FURTHER DETAILS ARE AVAILABLE UPON REQUEST. *******************************************************

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413199349302906

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