SEED CHARITIES dba THREADS OF HOPE
- Assets
- $0.0
- Revenue
- -$3.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Plano, TX
- Founding
- 06/2009
- Data as of
- 12/2020
- EIN
- 26-4580974
Organization Overview
SEED CHARITIES dba THREADS OF HOPE is located in Plano, TX. The organization was established in 2009. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2020, SEED CHARITIES dba THREADS OF HOPE employed 2 individuals. SEED CHARITIES dba THREADS OF HOPE is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THREADS OF HOPE IS TO BREAK THE CYCLE OF POVERTY THROUGH STRATEGIES THAT EMPOWER THE ECONOMICALLY DISADVANTAGED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THREADS OF HOPE SELLS TEXTILES HAND-MADE BY OVER 100 ARTISANS IN PERU. THE UNIQUE NATURE OF THIS PROJECT, ALMOST FULLY VOLUNTEER SUPPORTED, ALLOWS FOR 90% OF REVENUE TO BE RETURNED TO PARTICIPATING FAMILIES. ALL REVENUE RETURN IS MONITORED THROUGHOUT THE PROCESS FROM THE U.S., THROUGH FINCA PERU, AND THEN TO THE WOMEN SO THAT FINANCIAL ACCOUNTABILITY IS TRANSPARENT. THREADS OF HOPE IS ALSO WORKING WITH SEVERAL VILLAGES IN THE ANDES.THE BENEFITS OF THE PROJECT ARE CLEAR. FAMILIES LIVING IN SCRAP SHANTIES NOW HAVE HOMES WITH CONCRETE FLOORS, BRICK WALLS, AND ROOFS INSTEAD OF TARPS. CHILDREN OF POVERTY ARE IN SCHOOL, WELL FED, AND HEALTHY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Nimon President | OfficerTrustee | 5 | $0 |
Istvan Palagyi Director | Trustee | 5 | $0 |
Laura Palagyi Treasurer | OfficerTrustee | 10 | $0 |
Bob Nimon Director | Trustee | 5 | $0 |
Diana Kalinowska Director | Trustee | 5 | $0 |
Rosalie Mayo Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $600 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,683 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,283 |
| Total Program Service Revenue | $54,845 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$95,293 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$3,156 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $45,700 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,250 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,115 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $21,101 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,795 |
| All other expenses | $2,606 |
| Total functional expenses | $93,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |