Threads of Hope Thrift Store Inc

Analysis

Threads of Hope Thrift Store Inc is a registered charity in United States, based in Crossville, TN. It received its IRS tax-exemption ruling in October 2012, 14 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 Thrift Store Inc reported income of $849k and spending of $753k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $891k to $849k (-4.8%), an average of -1.2% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 83% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Threads of Hope Thrift Store Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within TN. Charities of a similar size with the same main cause include Keypoint Alliance ($848k), Hope for Kids Inc ($849k) and Dreams Imagination & Gift Development Program - Dig ($847k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $399k. At year end it held assets of $1.3m against liabilities of $143k, net assets of $1.2m. It reported 22 employees.