Common Threads Family Resource Center

Analysis

Common Threads Family Resource Center is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in October 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Common Threads Family Resource Center reported income of $3.2m and spending of $2.9m, spending 90% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.7m to $3.2m (+88%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 49%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Common Threads Family Resource Center sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within WI. Charities of a similar size with the same main cause include Center of Life ($3.2m), Regional Communities Services Center ($3.2m) and Family Guidance Center ($3.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 42% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $92k (3.2% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $2.2m against liabilities of $1.2m, net assets of $969k. It reported 40 employees.