Thread Inc
- Assets
- $9.6m
- Revenue
- $3.5m
- Investments
- $3.6m
- Employees
- 112
- Location
- Baltimore, MD
- Founding
- 08/2006
- Data as of
- 06/2021
- EIN
- 84-1700955
Organization Overview
Thread Inc is located in Baltimore, MD. The organization was established in 2006. According to its NTEE Classification (O99) the organization is classified as: Youth Development N.E.C., under the broad grouping of Youth Development and related organizations. As of 06/2021, Thread Inc employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thread Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Thread Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $4.8m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTS YOUNG PEOPLE FACING THE MOST SIGNIFICANT OPPORTUNITY AND ACHIEVEMENT GAPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THREAD INTERVENES IN THE 9TH GRADE AND DISRUPTS THE PATTERN OF ISOLATION THAT LEADS TO ACADEMIC UNDERPERFORMANCE, ENROLLING STUDENTS WHO RANK IN THE BOTTOM 25% OF THEIR CLASS AND WHO FACE AN ABUNDANCE OF CHALLENGES OUTSIDE OF THE CLASSROOM. STUDENTS REMAIN IN THREAD FOR 10 YEARS, SURROUNDED BY A GROUP OF UP TO FOUR VOLUNTEERS - A THREAD FAMILY - THAT PROVIDES THE STUDENT WITH CONTINUOUS SUPPORT AND INCREASED ACCESS TO COMMUNITY RESOURCES WHILE DEEPLY ENRICHING THE LIVES OF COMMITTED VOLUNTEERS. ONCE ENROLLED, THREAD COMMITS TO NEVER GIVING UP ON A SINGLE STUDENT, AND OUR STUDENTS CONSISTENTLY DEFY THE ODDS. THREAD STUDENTS COMPLETE HIGH SCHOOL AT A RATE TEN TIMES THAT OF SIMILAR PEERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Hemminger CEO | OfficerTrustee | 80 | $161,066 |
Nicholas Greer VP Of Interconnection | 60 | $136,680 | |
Allison Buchalter VP Of Involvement | 60 | $135,000 | |
Nikhil Gupta Acting Managing Director, Investment | 60 | $101,212 | |
William R Leizear Jr Director Of Finance | 40 | $100,500 | |
Heather Benz Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $855,857 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,648,918 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,504,775 |
| Total Program Service Revenue | $0 |
| Investment income | $1,309 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,930 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,507,021 |
| 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. | $160,615 |
| Compensation of current officers, directors, key employees. | $16,062 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,255,560 |
| Pension plan accruals and contributions | $31,070 |
| Other employee benefits | $235,007 |
| Payroll taxes | $280,205 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $410,877 |
| Advertising and promotion | $10,688 |
| Office expenses | $73,782 |
| Information technology | $1,172 |
| Royalties | $0 |
| Occupancy | $18,200 |
| Travel | $20,482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,722 |
| Insurance | $38,625 |
| All other expenses | $40,584 |
| Total functional expenses | $4,786,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,412,547 |
| Savings and temporary cash investments | $2,699,659 |
| Pledges and grants receivable | $547,588 |
| 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 | $282,388 |
| Net Land, buildings, and equipment | $21,965 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,600,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,564,147 |
| Accounts payable and accrued expenses | $380,182 |
| 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 | $3,216 |
| Total liabilities | $383,398 |
| Net assets without donor restrictions | $8,633,161 |
| Net assets with donor restrictions | $547,588 |
| 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 | $9,564,147 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Thread Inc has recieved totaling $1,086,709.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Youth Development | $753,750 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $122,850 |
Rise8 Foundation Hunt Valley, MD PURPOSE: GENERAL SUPPORT | $50,000 |
Quad Family Foundation Wilmington, DE PURPOSE: GENERAL AND UNRESTRICTED | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $25,750 |
Associated Jewish Charities Of Baltimore Baltimore, MD PURPOSE: GENERAL SUPPORT | $22,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baltimore Children And Youth Fund Inc Baltimore, MD | $5,729,821 | $6,648,910 |
Americas Promise-The Alliance For Youth Washington, DC | $8,292,588 | $8,200,288 |
Afterschool Alliance Washington, DC | $11,996,639 | $6,522,868 |
Thread Inc Baltimore, MD | $9,564,147 | $3,507,021 |
Charles W Cammack Childrens Center Inc Huntington, WV | $5,660,195 | $3,919,663 |
Harrison House Community Programs Inc New Castle, DE | $393,593 | $2,708,083 |
Pittsburgh Botanic Garden Oakdale, PA | $22,430,298 | $2,972,831 |
Howard County Youth Program Inc Ellicott City, MD | $1,021,926 | $2,345,558 |
Holistic Life Foundation Inc Baltimore, MD | $876,894 | $1,729,129 |
Project Pneuma Inc Baltimore, MD | $917,579 | $1,611,731 |
Make The World Better Foundation Inc Philadelphia, PA | $706,358 | $527,425 |
Council Of Parent Attorneys And Advocates Inc Baltimore, MD | $883,842 | $842,533 |