Common Threads

Analysis

Common Threads is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Common Threads reported income of $4.1m and spending of $4.1m, spending 99% of its income. Across the 5 years on record, from December 2019 to September 2023, income grew from $3.5m to $4.1m (+17%), an average of +3.9% a year. The sharpest change came in the year to September 2021, when income rose by 27%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Common Threads sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Indij Public Media ($4.1m), Friends of the Maine State Museum Inc ($4.1m) and Ican Dream Center NFP ($4.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $145k (3.6% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $2.5m against liabilities of $392k, net assets of $2.1m. It reported 108 employees.