Thread Inc

Analysis

Thread Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in August 2006, 20 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Thread Inc reported income of $10.0m and spending of $7.4m, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.1m to $10.0m (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2023, when income rose by 119%. Over the whole period it spent 93% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Thread Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Boys & Girls Clubs of Southcentral Alaska ($10.0m), Hunters Point Family ($10.1m) and Community Passageways ($10.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $217k (2.9% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $10.0m against liabilities of $493k, net assets of $9.5m. It reported 81 employees.