City Thread

Analysis

City Thread is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic 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 December 2023, City Thread reported income of $1.2m and spending of $1.1m, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $678k to $1.2m (+81%), an average of +81% a year. The sharpest change came in the year to December 2023, when income rose by 81%. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, City Thread sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within CO. Charities of a similar size with the same main cause include Red Ants Pants Foundation ($1.2m), Plumbers & Steamfitters Local 7 Apprentice Training Fund ($1.2m) and Regional Development Funding Corporation ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.2% of the total. Compensation of current officers, directors and key employees was $299k (27% of expenses). At year end it held assets of $584k against liabilities of $82k, net assets of $502k. It reported 3 employees.