Thresholds Inc

Analysis

Thresholds Inc is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in April 1976, 50 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Thresholds Inc reported income of $14.1m and spending of $9.6m, leaving 32% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $9.1m to $14.1m (+55%), an average of +12% a year. The sharpest change came in the year to September 2023, when income rose by 46%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Thresholds Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Home for Aged Women Inc ($14.1m), Hudson Guild ($14.2m) and Covenant House Texas ($14.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 29% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $295k (3.1% of expenses). Other salaries and wages came to $6.4m. At year end it held assets of $8.9m against liabilities of $2.1m, net assets of $6.7m. It reported 238 employees.