Rethreaded Inc

Analysis

Rethreaded Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in May 2012, 14 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 2023, Rethreaded Inc reported income of $2.2m and spending of $2.1m, spending 93% of its income. Across the 6 years on record, from December 2018 to June 2023, income grew from $887k to $2.2m (+153%), an average of +20% a year. The sharpest change came in the year to June 2020, when income rose by 176%. Over the whole period it spent 68% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rethreaded 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 87th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include The@heracles Group Inc ($2.2m), Children and Family Institute Incorporated ($2.2m) and Red Apple School Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $193k (9.2% of expenses). Other salaries and wages came to $871k. At year end it held assets of $4.7m against liabilities of $332k, net assets of $4.3m. It reported 45 employees.