Threads of Hope Inc

Analysis

Threads of Hope Inc is a registered charity in United States, based in Larsen, WI. It received its IRS tax-exemption ruling in February 2008, 18 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 December 2023, Threads of Hope Inc reported income of $256k and spending of $165k, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $317k to $256k (-19%), an average of -5.2% a year. The sharpest change came in the year to December 2021, when income rose by 343%. Over the whole period it spent 152% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Threads of Hope Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within WI. Charities of a similar size with the same main cause include New Jersey Legislative Black Caucus Foundation Inc ($256k), I D E S Society - of Half Moon Bay ($256k) and West Shore Food Bank ($256k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% of the total. Compensation of current officers, directors and key employees was $29k (18% of expenses). At year end it held assets of $1.3m against liabilities of $849, net assets of $1.3m. It reported 1 employees.