BINDING THREAD INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
BINDING THREAD INC (EIN 83-3464773)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-04-11
IRS object ID
202401029349301960
Schema version
2023v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-04-11T18:38:44-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt
Return Type990ReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN833464773EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Binding Thread IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Jason RuganiInCareOfNm
Business Name ControlBINDBusinessNameControlTxt
Phone8125680330PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1703 S Willow RdAddressLine1Txt
CityEvansvilleCityNm
State AbbreviationINStateAbbreviationCd
ZIP47714ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJASON RUGANIPersonNm
Person TitleExecutive DirectorPersonTitleTxt
Phone8125680330PhoneNum
Signature2024-04-11SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJASONPersonFirstNm
Person LastRUGANIPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer1TrustedCustomerCd
Authentication Assurance LevelAAL2AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJASON RUGANIPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1703 S Willow RdAddressLine1Txt
CityEvansvilleCityNm
State AbbreviationINStateAbbreviationCd
ZIP47714ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$927,268GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.bindingthread.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2019FormationYr
Legal Domicile StateINLegalDomicileStateCd
Activity Or MissionBinding Thread Inc is an organization dedicated to relief of the poor distressed and underpriveledged by providing basic needs to orphansActivityOrMissionDesc
Voting Members Governing Body6VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers100TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$668,201PYContributionsGrantsAmt
CY Contributions Grants$916,652CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income$10,616CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$668,201PYTotalRevenueAmt
CY Total Revenue$927,268CYTotalRevenueAmt
PY Grants And Similar Paid$738,391PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$607,959CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$29,213PYOtherExpensesAmt
CY Other Expenses$45,307CYOtherExpensesAmt
PY Total Expenses$767,604PYTotalExpensesAmt
CY Total Expenses$653,266CYTotalExpensesAmt
PY Revenues Less Expenses-$99,403PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$274,002CYRevenuesLessExpensesAmt
Total Assets BOY$399,108TotalAssetsBOYAmt
Total Assets EOY$628,816TotalAssetsEOYAmt
Total Liabilities BOY$40,557TotalLiabilitiesBOYAmt
Total Liabilities EOY$6,350TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$358,551NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$622,466NetAssetsOrFundBalancesEOYAmt
MissionOrganization 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.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$607,959ExpenseAmt
DescProvide food, clothing, and education to 550 orphans in Myanmar through local collection from donors in the USDesc
Total Program Service Expenses$607,959TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgYes (true)MoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Form990 T FiledfalseForm990TFiledInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Excs Tax Sect4951 Or4952 Or4953falseExcsTaxSect4951Or4952Or4953Ind
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members6GoverningBodyVotingMembersCnt
Independent Voting Member6IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldINStatesWhereCopyOfReturnIsFldCd
Own WebsiteYes (X)OwnWebsiteInd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonJASON RUGANIPersonNm
Phone8125680330PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1703 S Willow RdAddressLine1Txt
CityEvansvilleCityNm
State AbbreviationINStateAbbreviationCd
ZIP47714ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)

TitleTitleTxtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
JASON RUGANI
Executive DirectorYes (X)$0$0$0
DONNA CARR
Volunteer Director$0$0$0Yes (X)
ALLISON RUGANI
Connection Director$0$0$0Yes (X)
BETH TROMLEY
Shop ManagerYes (X)$0$0$0
ASHLEY DYE
AdvisorYes (X)$0$0$0
ZACH SNYDER
AdvisorYes (X)$0$0$0
NIKKI LEONARD
AdvisorYes (X)$0$0$0
MICHELE CROWLEY-WATKINS
AdvisorYes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$916,652AllOtherContributionsAmt
Total Contributions$916,652TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$10,616TotalRevenueColumnAmt
Related Or Exempt Func Income$10,616RelatedOrExemptFuncIncomeAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$927,268TotalRevenueColumnAmt
Related Or Exempt Func Income$10,616RelatedOrExemptFuncIncomeAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$607,959TotalAmt
Program Services$607,959ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$41,053TotalAmt
Program Services$41,053ProgramServicesAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$829TotalAmt
Program Services$829ProgramServicesAmt

Payments To Affiliates PaymentsToAffiliatesGrp

FieldValueIRS element (for citing)
Total$2,000TotalAmt
Program Services$2,000ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$476TotalAmt
Program Services$476ProgramServicesAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescRentDesc
Total$949TotalAmt
Program Services$949ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$653,266TotalAmt
Program Services$653,266ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$399,108BOYAmt
EOY$303,396EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
EOY$325,420EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$399,108BOYAmt
EOY$628,816EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$40,557BOYAmt
EOY$6,350EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$40,557BOYAmt
EOY$6,350EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$358,551BOYAmt
EOY$622,466EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$358,551BOYAmt
EOY$622,466EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$399,108BOYAmt
EOY$628,816EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$274,002ReconcilationRevenueExpnssAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$345,308CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$601,548CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$770,420CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$668,201CurrentTaxYearMinus1YearAmt
Current Tax Year$858,443CurrentTaxYearAmt
Total$3,243,920TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$345,308CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$601,548CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$770,420CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$668,201CurrentTaxYearMinus1YearAmt
Current Tax Year$858,443CurrentTaxYearAmt
Total$3,243,920TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$3,243,920PublicSupportTotal170Amt
Total Support$3,243,920TotalSupportAmt
First5 Years170Yes (X)First5Years170Ind
Public Support CY1700.00000PublicSupportCY170Pct

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule F IRS990ScheduleF

FieldValueIRS element (for citing)
Grant Records MaintainedfalseGrantRecordsMaintainedInd
Transfer To Foreign CorpfalseTransferToForeignCorpInd
Interest In Foreign TrustfalseInterestInForeignTrustInd
Foreign Corp OwnershipfalseForeignCorpOwnershipInd
Passive Foreign Investmest CofalsePassiveForeignInvestmestCoInd
Foreign PartnershipfalseForeignPartnershipInd
Boycott CountriesfalseBoycottCountriesInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Part VI Line 2Jason Rugani - Family Relationship - Allison Rugani
Part VI Line 2Allison Rugani - Family Relationship - Donna Carr
Part VI Line 11bReview by Accounting and Finance advisor for accuracy
Part VI Line 12cMonthly review of assets and expenditures
Part VI Line 15a or bNo compensation applied. Review and agreement required by board
Part VI Line 19Corporate ByLaws, Articles of Incorporation, Ethical Reporting, Privacy,
Part VI Line 19Conflict of Interest, Financial available through website or upon request

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