Project Threadways Inc

Analysis

Project Threadways Inc is a registered charity in United States, based in Florence, AL. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Project Threadways Inc reported income of $240k and spending of $200k, spending 83% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $50k to $240k (+384%), an average of +384% a year. The sharpest change came in the year to December 2023, when income rose by 384%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Project Threadways Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 58th percentile within AL. Charities of a similar size with the same main cause include Kentucky to the World Inc ($240k), Marana Schools 2340 Foundation ($240k) and The Kennedy Healing Love Foundation ($240k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $66k (33% of expenses). Other salaries and wages came to $8,305. At year end it held assets of $67k against liabilities of $10k, net assets of $57k. It reported 2 employees.