Peace of Thread Incorporated

Analysis

Peace of Thread Incorporated is a registered charity in United States, based in Grayson, GA. It received its IRS tax-exemption ruling in August 2014, 12 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 December 2023, Peace of Thread Incorporated reported income of $52k and spending of $104k, spending 199% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $99k to $52k (-47%), an average of -47% a year. The sharpest change came in the year to December 2023, when income dropped by 47%. Over the whole period it spent 124% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Peace of Thread Incorporated sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 21st percentile within GA. Charities of a similar size with the same main cause include Anchor Food Pantry ($52k), Time and Again Ltd ($52k) and Penuel Foundation ($52k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 180% of the total. Other salaries and wages came to $57k. At year end it held assets of $27k against liabilities of $641, net assets of $27k. It reported 3 employees.