Public Thread X

Analysis

Public Thread X is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in August 2022, 4 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, Public Thread X reported income of $102k and spending of $140k, spending 137% of what it took in. Across the 2 years on record, from September 2023 to December 2023, income fell from $515k to $102k (-80%), an average of -80% a year. The sharpest change came in the year to December 2023, when income dropped by 80%. Over the whole period it spent 47% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Public Thread X sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 37th percentile within MI. Charities of a similar size with the same main cause include Somebody Inc ($102k), Eyes of Love Lighthouse Mission Inc ($102k) and Friendship Hall Inc ($102k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $20k (14% of expenses). Other salaries and wages came to $85k. At year end it held assets of $425k against liabilities of $96k, net assets of $328k. It reported 23 employees.