Civic Intelligence

Thread Capital Inc

990 • Fiscal year 2024 • EIN 83-1284532

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 15, 2025

Organization ProfileTHREADCAP.ORG
4021 Carya DriveRaleigh, NC 27610

(919) 212-4950

Siviq Scores

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

Liabilities / Assets

47th percentile

0.24x

Higher debt load relative to assets than 47% of similar nonprofits.

2024 filings • NTEE S • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

52nd percentile

0.53x

Higher debt load relative to revenue than 52% of similar nonprofits.

2024 filings • NTEE S • $10M-$25M nonprofits • Source year 2024

Net Margin

81st percentile

58%

Higher net margin than 81% of similar nonprofits.

2024 filings • NTEE S • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$285,715

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2024 filings • NTEE S • $10M-$25M nonprofits • Source year 2024

Asset Growth

91st percentile

40%

Faster asset growth than 91% of similar nonprofits.

2024 filings • NTEE S • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

92nd percentile

138%

Faster revenue growth than 92% of similar nonprofits.

2024 filings • NTEE S • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$15,959,507

Up $4,591,133 (+40%) from 2023

Net Assets

Up

$12,107,296

Up $3,774,047 (+45%) from 2023

Liabilities

Up

$3,852,211

Up $817,086 (+27%) from 2023

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin81st percentile

Revenue

Up

$7,228,789

Up $4,194,293 (+138%) from 2023

Expenses

Up

$3,021,846

Up $526,955 (+21%) from 2023

Net Income

Up

$4,206,943

Up $3,667,338 (+680%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$20M$15M$10M$5.0M$0Assets 2019: $7,470,509Liabilities 2019: $665,007Net Assets 2019: $6,805,5022019Assets 2020: $10,857,847Liabilities 2020: $3,014,665Net Assets 2020: $7,843,1822020Assets 2021: $10,500,992Liabilities 2021: $1,164,082Net Assets 2021: $9,336,9102021Assets 2022: $10,988,241Liabilities 2022: $2,744,597Net Assets 2022: $8,243,6442022Assets 2023: $11,368,374Liabilities 2023: $3,035,125Net Assets 2023: $8,333,2492023Assets 2024: $15,959,507Liabilities 2024: $3,852,211Net Assets 2024: $12,107,2962024Assets 2025: $11,672,551Liabilities 2025: $2,952,788Net Assets 2025: $8,719,7632025

Highlighted filing

2024

Assets$15,959,507
Liabilities$3,852,211
Net Assets$12,107,296
Open 2024 Filing

Operations Trend

Revenue Growth92nd percentile

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

$10M$5.0M$0-$5.0MRevenue 2019: $8,078,528Expenses 2019: $685,706Net Income 2019: $7,392,8222019Revenue 2020: $3,838,887Expenses 2020: $1,776,207Net Income 2020: $2,062,6802020Revenue 2021: $3,562,695Expenses 2021: $2,068,967Net Income 2021: $1,493,7282021Revenue 2022: $1,469,550Expenses 2022: $2,568,332Net Income 2022: -$1,098,7822022Revenue 2023: $3,034,496Expenses 2023: $2,494,891Net Income 2023: $539,6052023Revenue 2024: $7,228,789Expenses 2024: $3,021,846Net Income 2024: $4,206,9432024Revenue 2025: $1,612,726Expenses 2025: $4,458,425Net Income 2025: -$2,845,6992025

Highlighted filing

2024

Revenue$7,228,789
Expenses$3,021,846
Net Income$4,206,943
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 15, 2025
Return Version
2023v6.0
Gross Receipts
$7,228,789
Mission and Program Overview

Mission

Thread capital believes everyone deserves the chance to be successful. We give people the tools they need to pursue their small-business dreams, and create a better tomorrow for themselves, their families, and their communities.

Ensuring nc's small businesses and entrepreneurs have access to the resources they need to thrive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,651,759$4,471,937▲ $820,178
Savings and Temporary Cash Investments$1,014,642$4,200,386▲ $3,185,744
Other Notes and Loans Receivable, Net$3,814,963$3,866,869▲ $51,906
Pledges and Grants Receivable$2,535,980$2,068,872▼ $467,108
Accounts Receivable$1,254,391$1,340,451▲ $86,060
Prepaid Expenses and Deferred Charges$21,984$10,992▼ $10,992
Total Assets$12,293,719$15,959,507▲ $3,665,788
Liabilities
Unsecured Notes Loans Payable$2,500,000$2,500,000→ $0
Accounts Payable and Accrued Expenses$1,347,594$1,256,501▼ $91,093
Deferred Revenue$112,876$95,710▼ $17,166
Total Liabilities$3,960,470$3,852,211▼ $108,259
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,559,780$10,712,898▲ $5,153,118
Net Assets Without Donor Restrictions$2,773,469$1,394,398▼ $1,379,071
Total Net Assets Fund Balance$8,333,249$12,107,296▲ $3,774,047
Total Liabilities and Net Assets / Fund Balance$12,293,719$15,959,507▲ $3,665,788
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleOtherTotal
Carolyn RhodesCOO (FROM JUL '23)$124,579$124,579

Board Members and Trustees

NameTitle
Andy AndersonChairperson
Al BassDirector
Brittany Bennett WestonDirector
Grant GodwinDirector
John StokesDirector
Jose AlvarezDirector
Juvencio Roch-peraltaDirector
Patrick WoodieDirector
Ryan AmmannDirector
Jonathan BreretonEXECUTIVE DIRECTOR (TO AUG '23)
Franklin RobertsCFO & Asst Treasurer
Kim GrahamSecretary
Joseph StanleyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Orion FirstLoan Servicing Services5403 OLYMPIC DR NW STE 200, Gig Harbor, WA 98335$201,058
Revenue and Support

Revenue Composition

Contributions and Grants
$5,007,778
Program Service Revenue
$120,996
Investment Income
$2,100,015
Other Revenue
$0
All Other Contributions
$50,100
Change in Net Assets
$4,206,943

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,228,789
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$7,228,789
Total Revenue per Form 990
$7,228,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,524,382
Other Expenses$1,497,464
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$965,185--$965,185
Fees for Services Management-$775,702-$775,702
Fees for Services Other$439,046--$439,046
Current Officers, Directors, Trustees, and Key Employees$290,907--$290,907
Other Employee Benefits$99,221--$99,221
Payroll Taxes$94,779--$94,779
Pension Plan Contributions$74,290--$74,290
Fees for Services Accounting$56,800--$56,800
Information Technology$47,712--$47,712
Travel$34,973--$34,973
Interest$30,861--$30,861
Fees for Services Legal$29,152--$29,152
All Other Expenses$27,316--$27,316
Conferences and Meetings$24,685--$24,685
Advertising$14,307--$14,307
Office Expenses$7,647--$7,647
Occupancy$5,143--$5,143
Other Expenses$63--$63
Total Functional Expenses$2,246,144$775,702$0$3,021,846

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,761,638
Expenses per Audited Statements$3,021,846
Total Expenses per Form 990$3,021,846
Expenses Not Reported on Form 990$739,792
Expenses Not Reported on Financial Statements$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The rural economic development center provides management services for the organization pursuant to a management services agreement.”

Form 990, Part VI, Section A, Line 6

“The organization's sole member is the rural economic development center.”

Form 990, Part VI, Section A, Line 7A

“The initial board of directors shall be appointed by the member to serve one (1) year, two (2) year, or three (3) year terms. Subsequently, the board of directors shall be elected by the incumbent board of directors at its annual meeting. All directors must be approved by the member.”

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

“The organization will make the form 990 available for review by the entire board of directors prior to filing.”

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

“The conflicts of interest policy is reviewed at every board meeting and members are asked if there are any conflicts. Should any conflicts exist, that person will recuse himself/herself from all discussions or vote and such information will be noted in the organization's board minutes.”

Form 990, Part VI, Section B, Line 15

“The president of the rural economic development center conducts the salary review process and uses market comparables from other form 990's of similar organizations to determine appropriate compensation. In addition, a human resources consultant was hired to perform a classification and pay study. Compensation is reviewed by the thread board of directors.”

Form 990, Part VI, Section C, Line 19

“The organization's financial statements, conflicts of interest policy and governing documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Thread Capital Inc
EIN
83-1284532
Phone
9192124950
Address
4021 CARYA DRIVE, RALEIGH, NC 27610

Signing Officer

Name
Andy Anderson
Title
Board Chair
Phone
9192124950
Signed
2025-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick Woodie
Formed
2018
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Johnson Lambert Llp
Address
4242 SIX FORKS ROAD SUITE 1500, RALEIGH, NC 27609
Preparer
J Calvin Marks
Phone
9197196400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional services: program service expenses 439,046. Management and general expenses 0. Fundraising expenses 0. Total expenses 439,046.”

FORM 990, PART XI, LINE 9:

“Provision for loan losses -430,385. Provision for bad debts -309,407. Impact of adoption of asc 326 306,896.”

Financial Statement Notes

PART X, LINE 2:

“Management has evaluated thread's tax positions and concluded that thread had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of gaap.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Provision for loan losses 430,385. Provision for bad debts 309,407.”

Raw XML AppendixShowing 400 of 567 raw XML fields

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

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt01347594
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt01256501
IRS990/AccountsReceivableGrp/BOYAmt01254391
IRS990/AccountsReceivableGrp/EOYAmt01340451
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ENSURING NC'S SMALL BUSINESSES AND ENTREPRENEURS HAVE ACCESS TO THE RESOURCES THEY NEED TO THRIVE.
IRS990/AdvertisingGrp/ProgramServicesAmt014307
IRS990/AdvertisingGrp/TotalAmt014307
IRS990/AllOtherContributionsAmt050100
IRS990/AllOtherExpensesGrp/ProgramServicesAmt027316
IRS990/AllOtherExpensesGrp/TotalAmt027316
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0FRANKLIN ROBERTS
IRS990/BooksInCareOfDetail/PhoneNum09192504314
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt04021 CARYA DRIVE
IRS990/BooksInCareOfDetail/USAddress/CityNm0RALEIGH
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NC
IRS990/BooksInCareOfDetail/USAddress/ZIPCd027610
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt03651759
IRS990/CashNonInterestBearingGrp/EOYAmt04471937
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0290907
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0290907
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt024685
IRS990/ConferencesMeetingsGrp/TotalAmt024685
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/ContractorCompensationGrp/CompensationAmt0201058
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt05403 OLYMPIC DR NW STE 200
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0GIG HARBOR
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0WA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd098335
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0ORION FIRST
IRS990/ContractorCompensationGrp/ServicesDesc0LOAN SERVICING SERVICES
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt05007778
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt02100015
IRS990/CYOtherExpensesAmt01497464
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0120996
IRS990/CYRevenuesLessExpensesAmt04206943
IRS990/CYSalariesCompEmpBnftPaidAmt01524382
IRS990/CYTotalExpensesAmt03021846
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt07228789
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt0112876
IRS990/DeferredRevenueGrp/EOYAmt095710
IRS990/DelegationOfMgmtDutiesInd01
IRS990/Desc0LENDING PROGRAM - THREAD CAPITAL OFFERS SMALL BUSINESS LOANS FROM $500 TO $250,000 TO BUSINESSES THAT ARE NOT EFFECTIVELY SERVED BY THE TRADITIONAL FINANCIAL SYSTEM. IT ALSO PROVIDES LOANS TO BUSINESSES THAT HAVE BEEN IMPACTED BY EITHER NATURAL DISASTERS OR THE GLOBAL PANDEMIC. IN ADDITION TO CAPITAL ACCESS, THREAD CAPITAL ALSO PROVIDES COACHING AND CONNECTIONS TO SMALL BUSINESSES AND ENTREPRENEURS. IN MAY OF 2024, MANAGEMENT OF THREAD CPAITAL BEGAN A STRATEGIC ASSESSMENT OF OPERATIONS, INCLUDING TEMPORARILY CEASING LOAN ORIGINATIONS WHILE CONTINUING TO SERVICE EXISTING LOANS OUTSTANDING. THIS ASSESSMENT IS EXPECTED TO TAKE A TOTAL OF 6-9 MONTHS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt05559780
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt010712898
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt02246144
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt056800
IRS990/FeesForServicesAccountingGrp/TotalAmt056800
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt029152
IRS990/FeesForServicesLegalGrp/TotalAmt029152
IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt0775702
IRS990/FeesForServicesManagementGrp/TotalAmt0775702
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0439046
IRS990/FeesForServicesOtherGrp/TotalAmt0439046
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt720.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt840.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt940.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1120.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt121.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt131.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OfficerInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd7X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt035644
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1146366
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1235996
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1312962
IRS990/Form990PartVIISectionAGrp/PersonNm0PATRICK WOODIE
IRS990/Form990PartVIISectionAGrp/PersonNm1ANDY ANDERSON
IRS990/Form990PartVIISectionAGrp/PersonNm2JOSEPH STANLEY
IRS990/Form990PartVIISectionAGrp/PersonNm3KIM GRAHAM
IRS990/Form990PartVIISectionAGrp/PersonNm4RYAN AMMANN
IRS990/Form990PartVIISectionAGrp/PersonNm5JOSE ALVAREZ
IRS990/Form990PartVIISectionAGrp/PersonNm6AL BASS
IRS990/Form990PartVIISectionAGrp/PersonNm7GRANT GODWIN
IRS990/Form990PartVIISectionAGrp/PersonNm8JUVENCIO ROCH-PERALTA
IRS990/Form990PartVIISectionAGrp/PersonNm9JOHN STOKES
IRS990/Form990PartVIISectionAGrp/PersonNm10BRITTANY BENNETT WESTON
IRS990/Form990PartVIISectionAGrp/PersonNm11JONATHAN BRERETON
IRS990/Form990PartVIISectionAGrp/PersonNm12FRANKLIN ROBERTS
IRS990/Form990PartVIISectionAGrp/PersonNm13CAROLYN RHODES
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt0250071
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt11237491
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt12198309
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt13111617
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11EXECUTIVE DIRECTOR (TO AUG '23)
IRS990/Form990PartVIISectionAGrp/TitleTxt12CFO & ASST TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13COO (FROM JUL '23)
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02018
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GovernmentGrantsAmt04957678
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt07228789
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt047712
IRS990/InformationTechnologyGrp/TotalAmt047712
IRS990/InterestGrp/ProgramServicesAmt030861
IRS990/InterestGrp/TotalAmt030861
IRS990/InvestmentIncomeGrp/ExclusionAmt0185745
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt01914270
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02100015
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THREAD CAPITAL BELIEVES EVERYONE DESERVES THE CHANCE TO BE SUCCESSFUL. WE GIVE PEOPLE THE TOOLS THEY NEED TO PURSUE THEIR SMALL-BUSINESS DREAMS, AND CREATE A BETTER TOMORROW FOR THEMSELVES, THEIR FAMILIES, AND THEIR COMMUNITIES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt08333249
IRS990/NetAssetsOrFundBalancesEOYAmt012107296
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02773469
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01394398
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt05143
IRS990/OccupancyGrp/TotalAmt05143
IRS990/OfficeExpensesGrp/ProgramServicesAmt07647
IRS990/OfficeExpensesGrp/TotalAmt07647
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0-432896
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt099221
IRS990/OtherEmployeeBenefitsGrp/TotalAmt099221
IRS990/OtherExpensesGrp/Desc0LOAN ORIGINATION EXPENS
IRS990/OtherExpensesGrp/Desc1DUES AND MEMBERSHIPS
IRS990/OtherExpensesGrp/ProgramServicesAmt04057
IRS990/OtherExpensesGrp/ProgramServicesAmt163
IRS990/OtherExpensesGrp/TotalAmt04057
IRS990/OtherExpensesGrp/TotalAmt163
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0965185
IRS990/OtherSalariesAndWagesGrp/TotalAmt0965185
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt03814963
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03866869
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt094779
IRS990/PayrollTaxesGrp/TotalAmt094779
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt074290
IRS990/PensionPlanContributionsGrp/TotalAmt074290
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt02535980
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt02068872
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021984
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010992
IRS990/PrincipalOfficerNm0PATRICK WOODIE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0ADMINISTRATIVE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0120996
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0120996
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0980800
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01936088
IRS990/PYOtherExpensesAmt01264631
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0117608
IRS990/PYRevenuesLessExpensesAmt0539605
IRS990/PYSalariesCompEmpBnftPaidAmt01230260
IRS990/PYTotalExpensesAmt02494891
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03034496
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt04206943
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02035266
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01014642
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04200386
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt03021846
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0561552375
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt03021846
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0RURAL ECONOMIC DEVELOPMENT CENTER INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
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/ExpensesNotReportedAmt0739792
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03021846
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt0739792
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt07228789
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THREAD'S TAX POSITIONS AND CONCLUDED THAT THREAD HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF GAAP.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PROVISION FOR LOAN LOSSES 430,385. PROVISION FOR BAD DEBTS 309,407.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt03021846
IRS990ScheduleD/TotalRevenuePerForm990Amt07228789
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07228789
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03761638
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0250071
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1237491
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2198309
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,959,507
Liabilities
$3,852,211
Net assets
$12,107,296
Revenue
$7,228,789
Expenses
$3,021,846
Net income
$4,206,943
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$11.7$2.95$8.72$1.61$4.46$2.85
2024Detailed filing. Detailed filing data is available for this year.$16.0$3.85$12.1$7.23$3.02$4.21
2023Detailed filing. Detailed filing data is available for this year.$11.4$3.04$8.33$3.03$2.49$0.54
2022Detailed filing. Detailed filing data is available for this year.$11.0$2.74$8.24$1.47$2.57$1.10
2021Detailed filing. Detailed filing data is available for this year.$10.5$1.16$9.34$3.56$2.07$1.49
2020Detailed filing. Detailed filing data is available for this year.$10.9$3.01$7.84$3.84$1.78$2.06
2019Detailed filing. Detailed filing data is available for this year.$7.47$0.67$6.81$8.08$0.69$7.39