BINDING THREAD INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
BINDING THREAD INC (EIN 83-3464773)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-02-07
IRS object ID
202520389349300447
Schema version
2024v5.0
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)
Return2025-02-07T13:54:52-06:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

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
Signature2025-02-07SignatureDt
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

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$780,324GrossReceiptsAmt
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 underprivileged by providing basic needs to orphansActivityOrMissionDesc
Voting Members Governing Body6VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers100TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$916,652PYContributionsGrantsAmt
CY Contributions Grants$761,802CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$10,616PYInvestmentIncomeAmt
CY Investment Income$18,522CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$927,268PYTotalRevenueAmt
CY Total Revenue$780,324CYTotalRevenueAmt
PY Grants And Similar Paid$607,959PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$613,107CYGrantsAndSimilarPaidAmt
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$45,307PYOtherExpensesAmt
CY Other Expenses$70,965CYOtherExpensesAmt
PY Total Expenses$653,266PYTotalExpensesAmt
CY Total Expenses$684,072CYTotalExpensesAmt
PY Revenues Less Expenses$274,002PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$96,252CYRevenuesLessExpensesAmt
Total Assets BOY$628,816TotalAssetsBOYAmt
Total Assets EOY$718,718TotalAssetsEOYAmt
Total Liabilities BOY$6,350TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$622,466NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$718,718NetAssetsOrFundBalancesEOYAmt
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$683,671ExpenseAmt
DescProvide food, clothing, and education to orphans in Myanmar through local collection from donors in the USDesc
Total Program Service Expenses$683,671TotalProgramServiceExpensesAmt
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 OrgfalseMoreThan5000KToOrgInd
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 Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
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
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 (7 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
JASON RUGANI
Executive Director0.000.00Yes (X)$0$0$0
BETH TROMLEY
Shop Manager0.000.00Yes (X)$0$0$0
ASHLEY DYE
Advisor0.000.00Yes (X)$0$0$0
ZACH SNYDER
Advisor0.000.00Yes (X)$0$0$0
NIKKI LEONARD
Advisor0.000.00Yes (X)$0$0$0
MICHELE CROWLEY-WATKINS
Advisor0.000.00Yes (X)$0$0$0
ALLISON RUGANI
Connection Director0.000.00$0$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$761,802AllOtherContributionsAmt
Total Contributions$761,802TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$18,522TotalRevenueColumnAmt
Related Or Exempt Func Income$18,522RelatedOrExemptFuncIncomeAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

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

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$780,324TotalRevenueColumnAmt
Related Or Exempt Func Income$18,522RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$613,107TotalAmt
Program Services$613,107ProgramServicesAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$12,126TotalAmt
Program Services$12,126ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$25,560TotalAmt
Program Services$25,560ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$17,754TotalAmt
Program Services$17,754ProgramServicesAmt

Payments To Affiliates PaymentsToAffiliatesGrp

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

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$587TotalAmt
Program Services$587ProgramServicesAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmt
Rent$1,368$1,368
Merchant Fees$7,888$7,888
Volunteer Services$3,682$3,682

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$684,072TotalAmt
Program Services$684,072ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$303,396BOYAmt
EOY$309,956EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$325,420BOYAmt
EOY$408,762EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$628,816BOYAmt
EOY$718,718EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$6,350BOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$6,350BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$622,466BOYAmt
EOY$718,718EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$622,466BOYAmt
EOY$718,718EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$628,816BOYAmt
EOY$718,718EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$96,252ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
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$601,548CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$770,420CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$668,201CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$858,443CurrentTaxYearMinus1YearAmt
Current Tax Year$780,273CurrentTaxYearAmt
Total$3,678,885TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$601,548CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$770,420CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$668,201CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$858,443CurrentTaxYearMinus1YearAmt
Current Tax Year$780,273CurrentTaxYearAmt
Total$3,678,885TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$3,678,885PublicSupportTotal170Amt
Total Support$3,678,885TotalSupportAmt
Public Support CY1701.00000PublicSupportCY170Pct
Public Support PY1701.00000PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

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 O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (13 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Part VI Line 2Jason Rugani - Family relationship - Allison Rugani
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 bContract Director - Comparision with local non profit compensation rates
Part VI Line 15a or busing similar income, expense, and service sectors
Part VI Line 19Corporate ByLaws, Articles of Incorporation, Ethical Reporting, Privacy,
Part VI Line 19Conflict of Interest, Financial available through website or upon request
Part VI Line 2Jason Rugani - Family Relationship - Allison Rugani
Part VI Line 11bReview by Accounting and Finance advisor for accuracy
Part VI Line 12cMonthly review of assets and expenditures
Part VI Line 15aNo 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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