Civic Intelligence

Binding Thread Inc.

990 • Fiscal year 2024 • EIN 83-3464773

Jan 01, 2024 to Dec 31, 2024 • Filed on Feb 07, 2025

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

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

63rd percentile

12%

Higher net margin than 63% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

69th percentile

14%

Faster asset growth than 69% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

19th percentile

-16%

Faster revenue growth than 19% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$718,718

Up $89,902 (+14%) from 2023

Net Assets

Up

$718,718

Up $96,252 (+15%) from 2023

Liabilities

Down

$0

Down $6,350 (-100%) from 2023

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin63rd percentile

Revenue

Down

$780,324

Down $146,944 (-16%) from 2023

Expenses

Up

$684,072

Up $30,806 (+4.7%) from 2023

Net Income

Down

$96,252

Down $177,750 (-65%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth69th 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

2024

Assets$718,718
Liabilities$0
Net Assets$718,718
Open 2024 Filing

Operations Trend

Revenue Growth19th 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

2024

Revenue$780,324
Expenses$684,072
Net Income$96,252
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Feb 7, 2025
Return Version
2024v5.0
Gross Receipts
$780,324
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 underprivileged by providing basic needs to orphans

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$325,420$408,762▲ $83,342
Cash and Non-Interest-Bearing Accounts$303,396$309,956▲ $6,560
Total Assets$628,816$718,718▲ $89,902
Liabilities
Accounts Payable and Accrued Expenses$6,350--
Total Liabilities$6,350$0▼ $6,350
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$622,466$718,718▲ $96,252
Total Net Assets Fund Balance$622,466$718,718▲ $96,252
Total Liabilities and Net Assets / Fund Balance$628,816$718,718▲ $89,902
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$761,802
Program Service Revenue
$0
Investment Income
$18,522
Other Revenue
$0
All Other Contributions
$761,802
Change in Net Assets
$96,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$613,107
Other Expenses$70,965
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$613,107--$613,107
Fees for Services Other$25,560--$25,560
Office Expenses$17,754--$17,754
Fees for Services Management$12,126--$12,126
Other Expenses$3,682--$3,682
Payments to Affiliates$2,000--$2,000
Insurance$587--$587
Total Functional Expenses$684,072$0$0$684,072
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 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

“Contract Director - Comparision with local non profit compensation rates”

Part VI Line 15A or B

“using similar income, expense, and service sectors”

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”

Part VI Line 2

“Jason Rugani - Family Relationship - Allison Rugani”

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

“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
2025-02-07

Organization Details

Principal Officer
Jason Rugani
Formed
2019
Legal Domicile
In
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
100
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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/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt018522
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0780324
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0100
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0628816
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0718718
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0703 S Willow Rd
IRS990/USAddress/CityNm0Evansville
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047714
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.bindingthread.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON RUGANI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum08125680330
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Binding Thread Inc
ReturnHeader/Filer/BusinessNameControlTxt0BIND
ReturnHeader/Filer/EIN0833464773
ReturnHeader/Filer/InCareOfNm0% Jason Rugani
ReturnHeader/Filer/PhoneNum08125680330
ReturnHeader/Filer/USAddress/AddressLine1Txt0703 S Willow Rd
ReturnHeader/Filer/USAddress/CityNm0Evansville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047714
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/ReturnTs02025-02-07T13:54:52-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$718,718
Liabilities
$0
Net assets
$718,718
Revenue
$780,324
Expenses
$684,072
Net income
$96,252
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