Civic Intelligence

Binding Thread Inc.

990 • Fiscal year 2022 • EIN 83-3464773

Jan 01, 2022 to Dec 31, 2022 • Filed on Feb 02, 2023

Organization Profilewww.bindingthread.org
703 S Willow RdEvansville, IN 47714

(812) 568-0330

Siviq Scores

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

Liabilities / Assets

68th percentile

0.10x

Higher debt load relative to assets than 68% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

0.06x

Higher debt load relative to revenue than 62% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

18th percentile

-15%

Higher net margin than 18% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

18th percentile

-12%

Faster asset growth than 18% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

24th percentile

-13%

Faster revenue growth than 24% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$399,108

Down $56,410 (-12%) from 2021

Net Assets

Down

$358,551

Down $90,112 (-20%) from 2021

Liabilities

Up

$40,557

Up $33,702 (+492%) from 2021

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin18th percentile

Revenue

Down

$668,201

Down $102,219 (-13%) from 2021

Expenses

Up

$767,604

Up $114,767 (+18%) from 2021

Net Income

Down

-$99,403

Down $216,986 (-185%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$800K$600K$400K$200K$0Assets 2019: $228,529Liabilities 2019: $256Net Assets 2019: $228,2732019Assets 2020: $331,491Liabilities 2020: $696Net Assets 2020: $330,7952020Assets 2021: $455,518Liabilities 2021: $6,855Net Assets 2021: $448,6632021Assets 2022: $399,108Liabilities 2022: $40,557Net Assets 2022: $358,5512022Assets 2023: $628,816Liabilities 2023: $6,350Net Assets 2023: $622,4662023Assets 2024: $718,718Liabilities 2024: $0Net Assets 2024: $718,7182024Assets 2025: $778,813Liabilities 2025: $0Net Assets 2025: $778,8132025

Highlighted filing

2022

Assets$399,108
Liabilities$40,557
Net Assets$358,551
Open 2022 Filing

Operations Trend

Revenue Growth24th percentile

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

$1.0M$500K$0-$500KRevenue 2019: $345,308Expenses 2019: $117,035Net Income 2019: $228,2732019Revenue 2020: $601,548Expenses 2020: $498,589Net Income 2020: $102,9592020Revenue 2021: $770,420Expenses 2021: $652,837Net Income 2021: $117,5832021Revenue 2022: $668,201Expenses 2022: $767,604Net Income 2022: -$99,4032022Revenue 2023: $927,268Expenses 2023: $653,266Net Income 2023: $274,0022023Revenue 2024: $780,324Expenses 2024: $684,072Net Income 2024: $96,2522024Revenue 2025: $890,389Expenses 2025: $830,294Net Income 2025: $60,0952025

Highlighted filing

2022

Revenue$668,201
Expenses$767,604
Net Income-$99,403
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Feb 2, 2023
Return Version
2022v4.1
Gross Receipts
$668,201
Mission and Program Overview

Mission

Organization dedicated to relief of the poor, the distressed, and the underprovileged by providing basic needs to orphans through collection and distribution of resources on a regular and consistent basis.

Binding Thread Inc is an organization dedicated to relief of the poor distressed and underpriveledged by providing basic needs to orphans

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$455,518$399,108▼ $56,410
Total Assets$455,518$399,108▼ $56,410
Liabilities
Accounts Payable and Accrued Expenses$6,855$40,557▲ $33,702
Total Liabilities$6,855$40,557▲ $33,702
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$448,663$358,551▼ $90,112
Total Net Assets Fund Balance$448,663$358,551▼ $90,112
Total Liabilities and Net Assets / Fund Balance$455,518$399,108▼ $56,410
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Allison RuganiConnection Director
Jason RuganiExecutive Director
Donna CarrVolunteer Director
Ashley DyeAdvisor
Jody SmithAdvisor
Beth TromleyShop Manager
Revenue and Support

Revenue Composition

Contributions and Grants
$668,201
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$668,201
Change in Net Assets
$-99,403
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$738,391
Other Expenses$29,213
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$738,391--$738,391
Office Expenses$21,189$4,185-$25,374
Other Expenses$1,336$755-$2,091
Payments to Affiliates$1,100--$1,100
Insurance$518--$518
Information Technology$130--$130
Total Functional Expenses$762,664$4,940$0$767,604
International Activity

International Summary

Offices
13
Employees
65
Spending
$738,391

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesFood, Clothing, Housing1365$738,391
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
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 2

“Jason Rugani - Family Relationship - Allison Rugani”

Part VI Line 2

“Allison Rugani - Family Relationship - Donna Carr”

Part VI Line 11B

“Reviewed by independent financial auditor”

Part VI Line 12C

“Annual review and compliance signatory”

Part VI Line 15A or B

“No compensation applied. Review and agreement required by board”

Part VI Line 19

“Corporate ByLaws, Articles of Incorporation, Ethical Reporting, Privacy,”

Part VI Line 19

“Conflict of Interest, Financial available through website or upon request”

Filing and Contact Details

Filer

Filer Name
Binding Thread Inc
EIN
83-3464773
In Care Of
% Jason Rugani
Phone
8125680330
Address
703 S Willow Rd, Evansville, IN 47714

Signing Officer

Name
Jason Rugani
Title
Executive Director
Phone
8125680330
Signed
2023-02-02

Organization Details

Principal Officer
Jason Rugani
Formed
2019
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
100
Raw XML Appendix309 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.

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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$399,108
Liabilities
$40,557
Net assets
$358,551
Revenue
$668,201
Expenses
$767,604
Net income
-$99,403
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.79$0.00$7.79$8.90$8.30$0.60
2024Detailed filing. Detailed filing data is available for this year.$7.19$0.00$7.19$7.80$6.84$0.96
2023Detailed filing. Detailed filing data is available for this year.$6.29$0.06$6.22$9.27$6.53$2.74
2022Detailed filing. Detailed filing data is available for this year.$3.99$0.41$3.59$6.68$7.68$0.99
2021Detailed filing. Detailed filing data is available for this year.$4.56$0.07$4.49$7.70$6.53$1.18
2020Detailed filing. Detailed filing data is available for this year.$3.31$0.01$3.31$6.02$4.99$1.03
2019Detailed filing. Detailed filing data is available for this year.$2.29$0.00$2.28$3.45$1.17$2.28
Peer Organizations

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