Civic Intelligence

Esperanza Threads Inc

990EZ • Fiscal year 2023 • EIN 34-1921602

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 09, 2024

1370 West 69th StreetCleveland, OH 44102

(216) 961-9009

Siviq Scores

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

Liabilities / Assets

71st percentile

0.03x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

73rd percentile

0.02x

Higher debt load relative to revenue than 73% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

7th percentile

-78%

Higher net margin than 7% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

90th percentile

$40,000

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 33.8% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

13th percentile

-41%

Faster asset growth than 13% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

18th percentile

-31%

Faster revenue growth than 18% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$113,887

Down $78,612 (-41%) from 2022

Net Assets

Down

$110,950

Down $81,390 (-42%) from 2022

Liabilities

Up

$2,937

Up $2,778 (+1747%) from 2022

Revenue

Down

$118,299

Down $53,968 (-31%) from 2022

Expenses

Up

$210,139

Up $35,812 (+21%) from 2022

Net Income

Down

-$91,840

Down $89,780 (-4358%) from 2022

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2010: $58,648Liabilities 2010: $5,912Net Assets 2010: $52,7362010Assets 2011: $83,701Liabilities 2011: $1,696Net Assets 2011: $82,0052011Assets 2013: $42,327Liabilities 2013: $3,991Net Assets 2013: $38,3362013Assets 2014: $60,608Liabilities 2014: $6,410Net Assets 2014: $54,1982014Assets 2015: $68,572Liabilities 2015: $11,357Net Assets 2015: $57,2152015Assets 2016: $65,208Liabilities 2016: $11,406Net Assets 2016: $53,8022016Assets 2017: $146,120Liabilities 2017: $8,076Net Assets 2017: $138,0442017Assets 2018: $169,841Liabilities 2018: $271Net Assets 2018: $169,5702018Assets 2019: $164,022Liabilities 2019: $695Net Assets 2019: $163,3272019Assets 2020: $184,076Liabilities 2020: $38Net Assets 2020: $184,0382020Assets 2021: $195,601Liabilities 2021: $529Net Assets 2021: $195,0722021Assets 2022: $192,499Liabilities 2022: $159Net Assets 2022: $192,3402022Assets 2023: $113,887Liabilities 2023: $2,937Net Assets 2023: $110,9502023Assets 2024: $45,822Liabilities 2024: $906Net Assets 2024: $44,9162024

Highlighted filing

2023

Assets$113,887
Liabilities$2,937
Net Assets$110,950

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2010: $76,310Expenses 2010: $73,174Net Income 2010: $3,1362010Revenue 2011: $116,094Expenses 2011: $86,826Net Income 2011: $29,2682011Revenue 2013: $93,458Expenses 2013: $128,819Net Income 2013: -$35,3612013Revenue 2014: $118,331Expenses 2014: $102,469Net Income 2014: $15,8622014Revenue 2015: $129,885Expenses 2015: $126,868Net Income 2015: $3,0172015Revenue 2016: $115,429Expenses 2016: $118,842Net Income 2016: -$3,4132016Revenue 2017: $151,208Expenses 2017: $104,466Net Income 2017: $46,7422017Revenue 2018: $153,429Expenses 2018: $121,903Net Income 2018: $31,5262018Revenue 2019: $143,280Expenses 2019: $149,523Net Income 2019: -$6,2432019Revenue 2020: $142,045Expenses 2020: $121,336Net Income 2020: $20,7092020Revenue 2021: $138,962Expenses 2021: $127,931Net Income 2021: $11,0312021Revenue 2022: $172,267Expenses 2022: $174,327Net Income 2022: -$2,0602022Revenue 2023: $118,299Expenses 2023: $210,139Net Income 2023: -$91,8402023Revenue 2024: $128,353Expenses 2024: $186,718Net Income 2024: -$58,3652024

Highlighted filing

2023

Revenue$118,299
Expenses$210,139
Net Income-$91,840
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 9, 2024
Return Version
2023v5.0
Gross Receipts
$121,442
Mission and Program Overview

Mission

Esperanza threads, inc. (esperanza threads) is a nonprofit organization charted in the state of ohio in 1971. The mission of esperanza threads is to provide sewing skill training and finding employment. Esperanza threads uses 100% sustainable fabric designs. They make products for adults, youths, babies as well as beds, baths and kitchens while touting the fact that they are a non-profit training facility teaching those needing skills for employment how to sew on industrial machines.

Program Services

DescriptionGrantsExpenses
ESPERANZA THREADS OPERATES TWO PROGRAMS: AN INDUSTRIAL SEWING JOB TRAINING AND JOB PLACEMENT PROGRAM FOR LOW INCOME INDIVIDUALS WHICH INCLUDES CLEVELANDERS AND MIGRANT REFUGEES WHO ARE NEW TO THE CITY AND AN ORGANIC CLOTHING MANUFACTUER AND RETAILER. THE MISSION OF ESPERANZA THREADS IS TO PROVIDE SEWING TRAINING IN GOOD-QUALITY JOBS, TO ASSIST INDIVIDUALS WITH BARRIERS TO EMPLOYMENT TO SUPPORT A FAMILY AND TO HAVE THE OPPORTUNITY TO BUILD A CAREER. THE TRAINING PROGRAM CURRENTLY INSTRUCTS 40-50 PEOPLE A YEAR WITH A 50-65% HIRING RATE IN JOBS.-$154,167
ESPERANZA THREADS OPERATES TWO PROGRAMS: AN INDUSTRIAL SEWING JOB TRAINING AND JOB PLACEMENT PROGRAM FOR LOW INCOME INDIVIDUALS WHICH INCLUDES CLEVELANDERS AND MIGRANT REFUGEES WHO ARE NEW TO THE CITY AND AN ORGANIC CLOTHING MANUFACTURER AND RETAILER. THE MISSION OF ESPERANZA THREADS IS TO PROVIDE SEWING TRAINING IN GOOD-QUALITY JOBS, TO ASSIST INDIVIDUALS WITH BARRIERS TO EMPLOYMENT TO SUPPORT A FAMILY AND TO HAVE THE OPPORTUNITY TO BUILD A CAREER. THE TRAINING PROGRAM CURRENTLY INSTRUCTS OVER 40-50 PEOPLE A YEAR WITH A 50-65% HIRING RATE IN JOBS.--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
EMILY TIELLExec DirectoFT$40,000-$40,000
PATRICK GAUGHANPresident-$0--
MARIE HICKLEDirector-$0--
SANKET PATELFinance Chai-$0--
CATHY YOUNGVice-Preside-$0--
CHARLES POINDEXTERDirector-$0--
Filing and Contact Details

Filer

Filer Name
Esperanza Threads Inc
EIN
34-1921602
Phone
2169619009
Address
1370 WEST 69TH STREET, CLEVELAND, OH 44102

Signing Officer

Name
Sanket Patel
Title
Finance Chair
Phone
2169619009
Signed
2024-11-09

Preparer

Firm
Hhl Group Inc
Address
345 E WASHINGTON STREET, MEDINA, OH 44256-2116
Preparer
Laurie B Price Cpacgma
Phone
3307211410
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

Expenses advertising & promotion 8,342 office expenses 3,063 insurance 7,050 contract labor 395 credit card fees/bank chg 1,337 dues and subscriptions 1,887 fraud charges 2,755 investment fees 25 licenses 342 maintenance & repairs 2,814 meals 532 other production costs 2,304 software 1,451 staffing costs 1,258 telephone & internet 1,716 training 31,789 utilities 11,316 donation 188 non-investment depreciation 3,356 total 81,920

Form 990-ez, Part I, Line 20

Unrealized gain on investments 10,451

Form 990-ez, Part II, Line 24

Accounts receivable 0 799 inventories for sale or use 10,851 10,921 equipment 43,879 43,878 less accumulated depreciation 38,141 41,496 credit card credit 227 0 total 16,816 14,102

Form 990-ez, Part II, Line 26

Credit card 0 2,593 sales tax 159 344

Form 990-ez, Part III

Esperanza threads, inc. (esperanza threads) is a nonprofit organization charted in the state of ohio in 1971. The mission of esperanza threads is to provide sewing skill training and finding employment. Esperanza threads uses 100% sustainable fabric designs. They make products for adults, youths, babies as well as beds, baths and kitchens while touting the fact that they are a non-profit training facility teaching those needing skills for employment how to sew on industrial machines.

Form 990-ez, Part III, Line 28

Esperanza threads operates two programs: an industrial sewing job training and job placement program for low income individuals which includes clevelanders and migrant refugees who are new to the city and an organic clothing manufacturer and retailer. The mission of esperanza threads is to provide sewing training in good-quality jobs, to assist individuals with barriers to employment to support a family and to have the opportunity to build a career. The training program currently instructs over 40-50 people a year with a 50-65% hiring rate in jobs.

Form 990-ez, Part III, Line 31

Esperanza threads operates two programs: an industrial sewing job training and job placement program for low income individuals which includes clevelanders and migrant refugees who are new to the city and an organic clothing manufactuer and retailer. The mission of esperanza threads is to provide sewing training in good-quality jobs, to assist individuals with barriers to employment to support a family and to have the opportunity to build a career. The training program currently instructs 40-50 people a year with a 50-65% hiring rate in jobs.

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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1ESPERANZA THREADS OPERATES TWO PROGRAMS: AN INDUSTRIAL SEWING JOB TRAINING AND JOB PLACEMENT PROGRAM FOR LOW INCOME INDIVIDUALS WHICH INCLUDES CLEVELANDERS AND MIGRANT REFUGEES WHO ARE NEW TO THE CITY AND AN ORGANIC CLOTHING MANUFACTUER AND RETAILER. THE MISSION OF ESPERANZA THREADS IS TO PROVIDE SEWING TRAINING IN GOOD-QUALITY JOBS, TO ASSIST INDIVIDUALS WITH BARRIERS TO EMPLOYMENT TO SUPPORT A FAMILY AND TO HAVE THE OPPORTUNITY TO BUILD A CAREER. THE TRAINING PROGRAM CURRENTLY INSTRUCTS 40-50 PEOPLE A YEAR WITH A 50-65% HIRING RATE IN JOBS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPENSES ADVERTISING & PROMOTION 8,342 OFFICE EXPENSES 3,063 INSURANCE 7,050 CONTRACT LABOR 395 CREDIT CARD FEES/BANK CHG 1,337 DUES AND SUBSCRIPTIONS 1,887 FRAUD CHARGES 2,755 INVESTMENT FEES 25 LICENSES 342 MAINTENANCE & REPAIRS 2,814 MEALS 532 OTHER PRODUCTION COSTS 2,304 SOFTWARE 1,451 STAFFING COSTS 1,258 TELEPHONE & INTERNET 1,716 TRAINING 31,789 UTILITIES 11,316 DONATION 188 NON-INVESTMENT DEPRECIATION 3,356 TOTAL 81,920
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UNREALIZED GAIN ON INVESTMENTS 10,451
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACCOUNTS RECEIVABLE 0 799 INVENTORIES FOR SALE OR USE 10,851 10,921 EQUIPMENT 43,879 43,878 LESS ACCUMULATED DEPRECIATION 38,141 41,496 CREDIT CARD CREDIT 227 0 TOTAL 16,816 14,102
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CREDIT CARD 0 2,593 SALES TAX 159 344
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ESPERANZA THREADS, INC. (ESPERANZA THREADS) IS A NONPROFIT ORGANIZATION CHARTED IN THE STATE OF OHIO IN 1971. THE MISSION OF ESPERANZA THREADS IS TO PROVIDE SEWING SKILL TRAINING AND FINDING EMPLOYMENT. ESPERANZA THREADS USES 100% SUSTAINABLE FABRIC DESIGNS. THEY MAKE PRODUCTS FOR ADULTS, YOUTHS, BABIES AS WELL AS BEDS, BATHS AND KITCHENS WHILE TOUTING THE FACT THAT THEY ARE A NON-PROFIT TRAINING FACILITY TEACHING THOSE NEEDING SKILLS FOR EMPLOYMENT HOW TO SEW ON INDUSTRIAL MACHINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ESPERANZA THREADS OPERATES TWO PROGRAMS: AN INDUSTRIAL SEWING JOB TRAINING AND JOB PLACEMENT PROGRAM FOR LOW INCOME INDIVIDUALS WHICH INCLUDES CLEVELANDERS AND MIGRANT REFUGEES WHO ARE NEW TO THE CITY AND AN ORGANIC CLOTHING MANUFACTURER AND RETAILER. THE MISSION OF ESPERANZA THREADS IS TO PROVIDE SEWING TRAINING IN GOOD-QUALITY JOBS, TO ASSIST INDIVIDUALS WITH BARRIERS TO EMPLOYMENT TO SUPPORT A FAMILY AND TO HAVE THE OPPORTUNITY TO BUILD A CAREER. THE TRAINING PROGRAM CURRENTLY INSTRUCTS OVER 40-50 PEOPLE A YEAR WITH A 50-65% HIRING RATE IN JOBS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ESPERANZA THREADS OPERATES TWO PROGRAMS: AN INDUSTRIAL SEWING JOB TRAINING AND JOB PLACEMENT PROGRAM FOR LOW INCOME INDIVIDUALS WHICH INCLUDES CLEVELANDERS AND MIGRANT REFUGEES WHO ARE NEW TO THE CITY AND AN ORGANIC CLOTHING MANUFACTUER AND RETAILER. THE MISSION OF ESPERANZA THREADS IS TO PROVIDE SEWING TRAINING IN GOOD-QUALITY JOBS, TO ASSIST INDIVIDUALS WITH BARRIERS TO EMPLOYMENT TO SUPPORT A FAMILY AND TO HAVE THE OPPORTUNITY TO BUILD A CAREER. THE TRAINING PROGRAM CURRENTLY INSTRUCTS 40-50 PEOPLE A YEAR WITH A 50-65% HIRING RATE IN JOBS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 20
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART II, LINE 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990-EZ, PART III, LINE 28
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990-EZ, PART III, LINE 31
ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURIE B PRICE CPACGMA
ReturnHeader/ReturnTs02024-11-11T12:45:04-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.46$0.01$0.45$1.28$1.87$0.58
2023Detailed filing. Detailed filing data is available for this year.$1.14$0.03$1.11$1.18$2.10$0.92
2022Detailed filing. Detailed filing data is available for this year.$1.92$0.00$1.92$1.72$1.74$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.96$0.01$1.95$1.39$1.28$0.11
2020Detailed filing. Detailed filing data is available for this year.$1.84$0.00$1.84$1.42$1.21$0.21
2019Detailed filing. Detailed filing data is available for this year.$1.64$0.01$1.63$1.43$1.50$0.06
2018Detailed filing. Detailed filing data is available for this year.$1.70$0.00$1.70$1.53$1.22$0.32
2017Detailed filing. Detailed filing data is available for this year.$1.46$0.08$1.38$1.51$1.04$0.47
2016Detailed filing. Detailed filing data is available for this year.$0.65$0.11$0.54$1.15$1.19$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.69$0.11$0.57$1.30$1.27$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.61$0.06$0.54$1.18$1.02$0.16
2013Detailed filing. Detailed filing data is available for this year.$0.42$0.04$0.38$0.93$1.29$0.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.02$0.82$1.16$0.87$0.29
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.06$0.53$0.76$0.73$0.03