BINDING THREAD INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
BINDING THREAD INC (EIN 83-3464773)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-01-27
IRS object ID
202130279349300433
Schema version
2020v4.0
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)
Return2021-01-27T14:07:37-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

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
Signature2021-01-27SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJASONPersonFirstNm
Person LastRUGANIPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Initial ReturnYes (X)InitialReturnInd
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$601,548GrossReceiptsAmt
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
CY Contributions Grants$601,548CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income$0CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
CY Total Revenue$601,548CYTotalRevenueAmt
PY Grants And Similar Paid$94,010PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$454,934CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
CY Other Expenses$43,655CYOtherExpensesAmt
PY Total Expenses$94,010PYTotalExpensesAmt
CY Total Expenses$498,589CYTotalExpensesAmt
PY Revenues Less Expenses-$94,010PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$102,959CYRevenuesLessExpensesAmt
Total Assets BOY$228,273TotalAssetsBOYAmt
Total Assets EOY$331,491TotalAssetsEOYAmt
Total Liabilities BOY$256TotalLiabilitiesBOYAmt
Total Liabilities EOY$696TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$228,017NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$330,795NetAssetsOrFundBalancesEOYAmt
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$454,934ExpenseAmt
DescProvide food, clothing, and education to 550 orphans in Myanmar through local collection from donors in the USDesc
Total Program Service Expenses$454,934TotalProgramServiceExpensesAmt
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 OfficeYes (true)ForeignOfficeInd
Foreign ActivitiesYes (true)ForeignActivitiesInd
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
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 (6 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
JASON RUGANI
Executive Director20.00Yes (X)$0$0$0
DONNA CARR
Volunteer Director10.00Yes (X)$0$0$0
ALLISON RUGANI
Connection Director10.00Yes (X)$0$0$0
BETH TROMLEY
Shop Manager10.00Yes (X)$0$0$0
JODY SMITH
Advisor5.000Yes (X)$0$0$0
ASHLEY DYE
Advisor5.000Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$601,548AllOtherContributionsAmt
Total Contributions$601,548TotalContributionsAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

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

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$601,548TotalRevenueColumnAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$454,934TotalAmt
Program Services$454,934ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$24,227TotalAmt
Program Services$17,474ProgramServicesAmt
Management And General$6,753ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$492TotalAmt
Program Services$492ProgramServicesAmt

Payments To Affiliates PaymentsToAffiliatesGrp

FieldValueIRS element (for citing)
Total$275TotalAmt
Program Services$275ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$661TotalAmt
Program Services$661ProgramServicesAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescRentDesc
Total$18,000TotalAmt
Program Services$6,000ProgramServicesAmt
Management And General$12,000ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$498,589TotalAmt
Program Services$479,836ProgramServicesAmt
Management And General$18,753ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$228,273BOYAmt
EOY$331,491EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$228,273BOYAmt
EOY$331,491EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$256BOYAmt
EOY$696EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$256BOYAmt
EOY$696EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$228,017BOYAmt
EOY$330,795EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$228,017BOYAmt
EOY$330,795EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$228,273BOYAmt
EOY$331,491EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$102,959ReconcilationRevenueExpnssAmt
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 Minus1 Year$345,308CurrentTaxYearMinus1YearAmt
Current Tax Year$601,548CurrentTaxYearAmt
Total$946,856TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$345,308CurrentTaxYearMinus1YearAmt
Current Tax Year$601,548CurrentTaxYearAmt
Total$946,856TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$946,856PublicSupportTotal170Amt
Total Support$946,856TotalSupportAmt
First5 Years170Yes (X)First5Years170Ind

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

Account Activities Outside US AccountActivitiesOutsideUSGrp

FieldValueIRS element (for citing)
RegionEast Asia and the PacificRegionTxt
Offices13OfficesCnt
Employee65EmployeeCnt
Type Of Activities ConductedProgram ServicesTypeOfActivitiesConductedTxt
Specific Services ProvidedFood, Clothing, HousingSpecificServicesProvidedTxt
Region Total Expenditures$454,934RegionTotalExpendituresAmt
FieldValueIRS element (for citing)
Subtotal Offices13SubtotalOfficesCnt
Subtotal Employees65SubtotalEmployeesCnt
Total Office13TotalOfficeCnt
Total Employee65TotalEmployeeCnt
Subtotal Spent$454,934SubtotalSpentAmt
Total Spent$454,934TotalSpentAmt
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 (17 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Part VI Line 2Jason Rugani - Allison Rugani - Family Relationship
Part VI Line 2Allison Rugani - Donna Carr - Family Relationship
Part VI Line 11bReview by independent financial auditor
Part VI Line 12cSigned policy
Part VI Line 15a or b2019
Part VI Line 19Corporate ByLaws, Ethical Reporting, Privacy, Conduct Code, Ethical
Part VI Line 19Reporting on company website. All financials available upon web request.
VI,SecA,Line2Jason Rugani - Family Relationship - Allison Rugani
VI,SecA,Line2Allison Rugani - Family Relationship - Donna Carr
VI,SecB,Line11aReviewed by independent financial auditor
VI,SecB,Line12cAnnual review and compliance signatory
VI,SecB,Line15bNo compensation applied. Review and agreement required
VI,SecB,Line15bfrom governing board
VI,SecC,Line19Corporate ByLaws, Articles of Incorporation, Ethical
VI,SecC,Line19Reporting Policy, Privacy, and Conflict of Interest
VI,SecC,Line19policies are published to company website. All financial
VI,SecC,Line19reports are available through website upon request

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