Civic Intelligence

Threads Dance Project

990 • Fiscal year 2020 • EIN 27-3479875

Jan 01, 2020 to Dec 31, 2020 • Filed on May 05, 2021

1740 Bridgewater RoadGolden Valley, MN 55422

(952) 250-5965

Siviq Scores

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

Liabilities / Assets

90th percentile

0.66x

Higher debt load relative to assets than 90% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

85th percentile

0.25x

Higher debt load relative to revenue than 85% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

25th percentile

-14%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

87th percentile

$33,600

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 13.2% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

23rd percentile

-14%

Faster asset growth than 23% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

89th percentile

58%

Faster revenue growth than 89% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$95,182

Down $15,662 (-14%) from 2019

Net Assets

Down

$32,193

Down $36,232 (-53%) from 2019

Liabilities

Up

$62,989

Up $20,570 (+48%) from 2019

Revenue

Up

$253,868

Up $93,444 (+58%) from 2019

Expenses

Up

$290,107

Up $138,413 (+91%) from 2019

Net Income

Down

-$36,239

Down $44,969 (-515%) from 2019

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2014: $13,887Liabilities 2014: $623Net Assets 2014: $13,2642014Assets 2015: $43,121Liabilities 2015: $0Net Assets 2015: $43,1212015Assets 2016: $30,869Liabilities 2016: $44Net Assets 2016: $30,8252016Assets 2017: $30,074Liabilities 2017: $0Net Assets 2017: $30,0742017Assets 2018: $60,574Liabilities 2018: $879Net Assets 2018: $59,6952018Assets 2019: $110,844Liabilities 2019: $42,419Net Assets 2019: $68,4252019Assets 2020: $95,182Liabilities 2020: $62,989Net Assets 2020: $32,1932020Assets 2021: $92,495Liabilities 2021: $62,386Net Assets 2021: $30,1092021Assets 2022: $101,978Liabilities 2022: $83,000Net Assets 2022: $18,9782022

Highlighted filing

2020

Assets$95,182
Liabilities$62,989
Net Assets$32,193

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2014: $124,720Expenses 2014: $132,760Net Income 2014: -$8,0402014Revenue 2015: $150,767Expenses 2015: $120,910Net Income 2015: $29,8572015Revenue 2016: $124,754Expenses 2016: $137,050Net Income 2016: -$12,2962016Revenue 2017: $148,011Expenses 2017: $148,762Net Income 2017: -$7512017Revenue 2018: $163,163Expenses 2018: $133,542Net Income 2018: $29,6212018Revenue 2019: $160,424Expenses 2019: $151,694Net Income 2019: $8,7302019Revenue 2020: $253,868Expenses 2020: $290,107Net Income 2020: -$36,2392020Revenue 2021: $254,504Expenses 2021: $256,588Net Income 2021: -$2,0842021Revenue 2022: $254,160Expenses 2022: $265,291Net Income 2022: -$11,1312022

Highlighted filing

2020

Revenue$253,868
Expenses$290,107
Net Income-$36,239
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 5, 2021
Return Version
2020v4.1
Gross Receipts
$253,868
Mission and Program Overview

Mission

To examine, expose and celebrate the threads that connect us.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$106,074$85,419▼ $20,655
Prepaid Expenses and Deferred Charges$3,117$3,263▲ $146
Accounts Receivable$1,660--
Total Assets$110,851$95,182▼ $15,669
Other Assets Total$0$6,500▲ $6,500
Liabilities
Deferred Revenue$37,667$42,083▲ $4,416
Other Liabilities$0$20,006▲ $20,006
Accounts Payable and Accrued Expenses$4,752$900▼ $3,852
Total Liabilities$42,419$62,989▲ $20,570
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$68,432$32,193▼ $36,239
Total Net Assets Fund Balance$68,432$32,193▼ $36,239
Total Liabilities and Net Assets / Fund Balance$110,851$95,182▼ $15,669

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$6,500--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Karen CharlesExecutive DirectorFT$33,600$33,600

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$245,118
Program Service Revenue
$7,595
Investment Income
$5
Other Revenue
$1,150
All Other Contributions
$245,118
Change in Net Assets
$-36,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$181,785
Salaries, Compensation, and Employee Benefits$106,097
Total Fundraising Expense$28,634
Professional Fundraising Fees$2,225
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$57,998$7,249$7,250$72,497
Current Officers, Directors, Trustees, and Key Employees$26,880$3,360$3,360$33,600
Occupancy$10,604$1,325$1,325$13,254
Fees for Services Accounting-$11,315-$11,315
Travel$5,884$735$735$7,354
Office Expenses$2,556$319$320$3,195
Fees for Services Other$2,375$297$296$2,968
Insurance$2,262$282$283$2,827
Fees for Services Legal-$2,660-$2,660
Fees for Services Professional Fundraising--$2,225$2,225
Advertising$1,664$208$208$2,080
Other Expenses$1,346$168$168$1,682
All Other Expenses$116$15$14$145
Total Functional Expenses$221,088$40,385$28,634$290,107
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$2,225
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Loan$20,006
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

Karen l. Charles - artistic director, and kenneth a. Charles - board member, are married.

Form 990, Part VI, Section A, Line 3

Accounting services previously done by the artistic director are now performed by carpenter evert & associates. Additionally mmkr previously prepared our 990 and that is now done by carpenter, evert & associates

Form 990, Part VI, Section A, Line 4

Updated to account for electronic voting procedures, included state statutes related to treasurer position

Form 990, Part VI, Section B, Line 11B

The board treasurer as representative of the board will review and approve 990.

Form 990, Part VI, Section B, Line 12C

Board - at every meeting vote they are required to declare potential conflict of interest & recuse themselves from any votes regarding the entity discussed

Form 990, Part VI, Section B, Line 15B

Using comparable data for similar individuals

Form 990, Part VI, Section C, Line 19

UPON WRITTEN REQUEST

Filing and Contact Details

Filer

Filer Name
Threads Dance Project
EIN
27-3479875
Phone
9522505965
Address
1740 BRIDGEWATER ROAD, GOLDEN VALLEY, MN 55422

Signing Officer

Name
Karen L Charles
Title
Executive Director
Phone
9522505965
Signed
2021-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen L Charles
Formed
2011
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
11
Employees
10
Volunteers
10

Preparer

Firm
Carpenter Evert & Associates Ltd
Address
7760 FRANCE AVE S SUITE 940, BLOOMINGTON, MN 55435
Preparer
Neal Evert
Phone
9528310085
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Threads entered into a 5-yr lease to have their own rehearsal and community classes space -threads dance nexus. We raised $150k for the buildout of the space in 2020.

Form 990, Part III, Line 3

We have expanded to begin offering regular community dance classes and other dance related events.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt047663
IRS990/PYOtherRevenueAmt01990
IRS990/PYProgramServiceRevenueAmt033190
IRS990/PYRevenuesLessExpensesAmt08730
IRS990/PYSalariesCompEmpBnftPaidAmt0104031
IRS990/PYTotalExpensesAmt0151694
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0160424
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-36239
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt08745
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt010750
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt034500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt030000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt015240
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt020000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0110490
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0245118
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0137570
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0115417
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0125810
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0116290
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0740205
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt05
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt05
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt07595
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt032230
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt039825
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt05
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt05
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt01150
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt028951
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt018698
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt012016
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt020060
IRS990ScheduleA/OtherIncome509Grp/TotalAmt080875
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.77770
IRS990ScheduleA/PublicSupportPY509Pct00.73390
IRS990ScheduleA/PublicSupportTotal509Amt0669540
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt010750
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt034500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt030000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt015240
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt020000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0110490
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0252713
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0169800
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0115417
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0125810
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0116290
IRS990ScheduleA/Total509Grp/TotalAmt0780030
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0253868
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0198751
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0134115
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0137826
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0136350
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0860910
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt06500
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020006
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PPP LOAN
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06500
IRS990ScheduleD/TotalLiabilityAmt020006
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THREADS ENTERED INTO A 5-YR LEASE TO HAVE THEIR OWN REHEARSAL AND COMMUNITY CLASSES SPACE -THREADS DANCE NEXUS. WE RAISED $150K FOR THE BUILDOUT OF THE SPACE IN 2020.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WE HAVE EXPANDED TO BEGIN OFFERING REGULAR COMMUNITY DANCE CLASSES AND OTHER DANCE RELATED EVENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2KAREN L. CHARLES - ARTISTIC DIRECTOR, AND KENNETH A. CHARLES - BOARD MEMBER, ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACCOUNTING SERVICES PREVIOUSLY DONE BY THE ARTISTIC DIRECTOR ARE NOW PERFORMED BY CARPENTER EVERT & ASSOCIATES. ADDITIONALLY MMKR PREVIOUSLY PREPARED OUR 990 AND THAT IS NOW DONE BY CARPENTER, EVERT & ASSOCIATES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPDATED TO ACCOUNT FOR ELECTRONIC VOTING PROCEDURES, INCLUDED STATE STATUTES RELATED TO TREASURER POSITION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD TREASURER AS REPRESENTATIVE OF THE BOARD WILL REVIEW AND APPROVE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOARD - AT EVERY MEETING VOTE THEY ARE REQUIRED TO DECLARE POTENTIAL CONFLICT OF INTEREST & RECUSE THEMSELVES FROM ANY VOTES REGARDING THE ENTITY DISCUSSED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7USING COMPARABLE DATA FOR SIMILAR INDIVIDUALS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION B, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd01
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0110851

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