Civic Intelligence

Binding Thread Inc.

990 • Fiscal year 2023 • EIN 83-3464773

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 11, 2024

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

46th percentile

0.01x

Higher debt load relative to assets than 46% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

41st percentile

0.01x

Higher debt load relative to revenue than 41% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

81st percentile

30%

Higher net margin than 81% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

89th percentile

58%

Faster asset growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

77th percentile

39%

Faster revenue growth than 77% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$628,816

Up $229,708 (+58%) from 2022

Net Assets

Up

$622,466

Up $263,915 (+74%) from 2022

Liabilities

Down

$6,350

Down $34,207 (-84%) from 2022

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin81st percentile

Revenue

Up

$927,268

Up $259,067 (+39%) from 2022

Expenses

Down

$653,266

Down $114,338 (-15%) from 2022

Net Income

Up

$274,002

Up $373,405 (+376%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2023

Assets$628,816
Liabilities$6,350
Net Assets$622,466
Open 2023 Filing

Operations Trend

Revenue Growth77th 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

2023

Revenue$927,268
Expenses$653,266
Net Income$274,002
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 11, 2024
Return Version
2023v5.0
Gross Receipts
$927,268
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
Savings and Temporary Cash Investments-$325,420-
Cash and Non-Interest-Bearing Accounts$399,108$303,396▼ $95,712
Total Assets$399,108$628,816▲ $229,708
Liabilities
Accounts Payable and Accrued Expenses$40,557$6,350▼ $34,207
Total Liabilities$40,557$6,350▼ $34,207
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$358,551$622,466▲ $263,915
Total Net Assets Fund Balance$358,551$622,466▲ $263,915
Total Liabilities and Net Assets / Fund Balance$399,108$628,816▲ $229,708
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Allison RuganiConnection Director
Jason RuganiExecutive Director
Donna CarrVolunteer Director
Ashley DyeAdvisor
Michele Crowley-watkinsAdvisor
Nikki LeonardAdvisor
Zach SnyderAdvisor
Beth TromleyShop Manager
Revenue and Support

Revenue Composition

Contributions and Grants
$916,652
Program Service Revenue
$0
Investment Income
$10,616
Other Revenue
$0
All Other Contributions
$916,652
Change in Net Assets
$274,002
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$607,959
Other Expenses$45,307
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$607,959--$607,959
Office Expenses$41,053--$41,053
Payments to Affiliates$2,000--$2,000
Other Expenses$949--$949
Information Technology$829--$829
Insurance$476--$476
Total Functional Expenses$653,266$0$0$653,266
International Activity

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
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

“Review by Accounting and Finance advisor for accuracy”

Part VI Line 12C

“Monthly review of assets and expenditures”

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
2024-04-11

Organization Details

Principal Officer
Jason Rugani
Formed
2019
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
100
Raw XML Appendix312 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/SigningOfficerGrp/PersonFullName/PersonFirstNm0JASON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RUGANI
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$628,816
Liabilities
$6,350
Net assets
$622,466
Revenue
$927,268
Expenses
$653,266
Net income
$274,002
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