Civic Intelligence

Seed Charities DBA Threads of Hope

990 • Fiscal year 2015 • EIN 26-4580974

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 15, 2016

Organization Profilewww.tohtexas.org
7400 Gurney DrivePlano, TX 75024

(972) 618-5306

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

86th percentile

0.33x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

92nd percentile

0.49x

Higher debt load relative to revenue than 92% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

19th percentile

-15%

Higher net margin than 19% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

90th percentile

$43,000

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 25.4% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

63rd percentile

10%

Faster asset growth than 63% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

53rd percentile

3.2%

Faster revenue growth than 53% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$248,121

Up $23,514 (+10%) from 2014

Net Assets

Down

$165,684

Down $24,795 (-13%) from 2014

Liabilities

Up

$82,437

Up $48,309 (+142%) from 2014

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin19th percentile

Revenue

Up

$168,998

Up $5,237 (+3.2%) from 2014

Expenses

Up

$193,793

Up $105,516 (+120%) from 2014

Net Income

Down

-$24,795

Down $100,279 (-133%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2011: $100,854Liabilities 2011: $19,796Net Assets 2011: $81,0582011Assets 2012: $118,518Liabilities 2012: $23,791Net Assets 2012: $94,7272012Assets 2013: $183,267Liabilities 2013: $40,656Net Assets 2013: $142,6112013Assets 2014: $224,607Liabilities 2014: $34,128Net Assets 2014: $190,4792014Assets 2015: $248,121Liabilities 2015: $82,437Net Assets 2015: $165,6842015Assets 2016: $275,822Liabilities 2016: $110,069Net Assets 2016: $165,7532016Assets 2017: $286,689Liabilities 2017: $120,389Net Assets 2017: $166,3002017Assets 2018: $297,429Liabilities 2018: $144,121Net Assets 2018: $153,3082018Assets 2019: $242,545Liabilities 2019: $123,270Net Assets 2019: $119,2752019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2015

Assets$248,121
Liabilities$82,437
Net Assets$165,684
Open 2015 Filing

Operations Trend

Revenue Growth53rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$100K$0-$100KExpenses 2011: $43,5662011Expenses 2012: $59,5022012Revenue 2013: $155,189Expenses 2013: $64,058Net Income 2013: $91,1312013Revenue 2014: $163,761Expenses 2014: $88,277Net Income 2014: $75,4842014Revenue 2015: $168,998Expenses 2015: $193,793Net Income 2015: -$24,7952015Revenue 2016: $155,663Expenses 2016: $155,594Net Income 2016: $692016Revenue 2017: $152,527Expenses 2017: $151,980Net Income 2017: $5472017Revenue 2018: $163,112Expenses 2018: $176,104Net Income 2018: -$12,9922018Revenue 2019: $119,421Expenses 2019: $153,454Net Income 2019: -$34,0332019Revenue 2020: -$3,156Expenses 2020: $93,557Net Income 2020: -$96,7132020

Highlighted filing

2015

Revenue$168,998
Expenses$193,793
Net Income-$24,795
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 15, 2016
Return Version
2015v2.0
Gross Receipts
$228,956
Mission and Program Overview

Mission

The mission of Threads of Hope is to break the cycle of poverty through strategies that empower the economically disadvantaged.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$174,442$193,083▲ $18,641
Rtn Earn Endowment Incm Other Fnds$184,163$159,368▼ $24,795
Inventories for Sale or Use$39,818$50,094▲ $10,276
Pd in Cap Srpls Land Bldg Eqp Fund$5,316$5,316→ $0
Pledges and Grants Receivable$5,200$0▼ $5,200
Prepaid Expenses and Deferred Charges$4,703$4,590▼ $113
Cap Stk Tr Prin Current Funds$1,000$1,000→ $0
Land, Buildings, and Equipment, Net$443$207▼ $236
Accounts Receivable-$147-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$224,607$248,121▲ $23,514
Other Assets Total$1$0▼ $1
Liabilities
Other Liabilities$33,132$80,779▲ $47,647
Accounts Payable and Accrued Expenses$996$1,658▲ $662
Total Liabilities$34,128$82,437▲ $48,309
Net Assets / Fund Balance
Total Net Assets Fund Balance$190,479$165,684▼ $24,795
Total Liabilities and Net Assets / Fund Balance$224,607$248,121▲ $23,514

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$207$1,951$2,158
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleBaseTotal
Cynthia M RawnProject Director$43,000$43,000

Board Members and Trustees

NameTitle
Istvan PalagyiPresident
Scott SchererVice President
Joleah MontgomeryDirector
Kim NimonDirector
Laura Lee SchererDirector
Stewart LovettDirector
Laura PalagyiSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$111,394
Program Service Revenue
$127,742
Investment Income
$96
Other Revenue
$-70,234
All Other Contributions
$99,633
Change in Net Assets
$-24,795
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$132,971
Salaries, Compensation, and Employee Benefits$60,822
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$43,000--$43,000
Other Salaries and Wages$13,500--$13,500
Travel$12,000--$12,000
All Other Expenses$4,847$855-$5,702
Insurance$4,924--$4,924
Payroll Taxes$4,322--$4,322
Fees for Services Accounting$3,750--$3,750
Other Expenses$3,780$2,568-$2,568
Advertising$1,857--$1,857
Office Expenses-$1,070-$1,070
Depreciation Depletion$236--$236
Total Functional Expenses$189,300$4,493$0$193,793
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Return Revenue Payable$76,491
Sales Tax Payable$3,263
Payroll Taxes Payable$1,023
Rounding$2
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Istvan and Laura Palagyi are married and serve as President and Secretary/Treasurer, respectively. Also Scott and Laura Lee Scherer are married and serve on the Board of Directors.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Seed Charities
EIN
26-4580974
Phone
9726185306
Address
7400 GURNEY DRIVE, PLANO, TX 75024

Signing Officer

Name
Laura Palagyi
Title
Secretary/Treas
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
2
Volunteers
100

Preparer

Firm
Gksr Pllc
Address
16250 Knoll Trail Drive Suite 207, Dallas, TX 75248
Preparer
Scott S Scherer CPA
Phone
9722679655
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IRS990/PYOtherExpensesAmt037952
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0184163
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt043663
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0411466
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0618082
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IRS990ScheduleA/InvestmentIncomePYPct00.00040
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Taxes Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Return Revenue Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Sales Tax Payable
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IRS990ScheduleD/TotalLiabilityAmt080779
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Istvan and Laura Palagyi are married and serve as President and Secretary/Treasurer, respectively. Also Scott and Laura Lee Scherer are married and serve on the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalGrossUBIAmt00

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$248,121
Liabilities
$82,437
Net assets
$165,684
Revenue
$168,998
Expenses
$193,793
Net income
-$24,795
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.03$0.94$0.97
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.43$1.23$1.19$1.19$1.53$0.34
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.97$1.44$1.53$1.63$1.76$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.87$1.20$1.66$1.53$1.52$0.01
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.76$1.10$1.66$1.56$1.56$0.00
2015Detailed filing. Detailed filing data is available for this year.$2.48$0.82$1.66$1.69$1.94$0.25
2014Detailed filing. Detailed filing data is available for this year.$2.25$0.34$1.90$1.64$0.88$0.75
2013Detailed filing. Detailed filing data is available for this year.$1.83$0.41$1.43$1.55$0.64$0.91
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.19$0.24$0.95$0.60
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.01$0.20$0.81$0.44