Overview
What is Threads Of Hope Thrift Store Inc?
Threads of Hope Thrift Store Inc is a nonprofit organization situated in Crossville, Tennessee (specifically at PO Box 4002). Their primary mission is to aid various law enforcement and child welfare agencies in the State of Tennessee and Cumberland County. They accomplish this by donating inventory to these organizations based on their needs. Additionally, they strive to educate and inform the public of Cumberland County and its surroundings about recognizing, preventing, and protecting against potential issues in their community. The organization operates with 23 dedicated employees.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Threads Of Hope Thrift Store Inc has received a commendable Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The overall score of 88% is based solely on the charity's financial management practices, showcasing effective oversight and a solid foundation in financial stability.
The organization boasts a fully independent board, scoring perfectly on the majority of its governance metrics. It maintains robust financial oversight, with no material diversion of assets reported, and has a significant program expense ratio of 84.86%, indicating that a substantial portion of its resources is directed towards its mission-related activities.
While the charity's financial practices are solid, potential donors may want to consider other factors such as program impact and outreach effectiveness, as these aspects are not quantified in the current rating. Nonetheless, the charity's commitment to transparency and responsible management is evident, making it a trustworthy option for those looking to support its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Threads Of Hope Thrift Store Inc legitimate?
Threads Of Hope Thrift Store Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Threads Of Hope Thrift Store Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $351,043
For more financial information, click here
What is the mission statement of Threads Of Hope Thrift Store Inc?
Threads Of Hope Thrift Store Inc is established with a primary objective to support local law enforcement and child welfare agencies in Tennessee and Cumberland County. Beyond this, the organization aims to educate the public in these areas about recognizing, preventing, and protecting against various issues. It accomplishes this by informing the community on relevant topics, thereby contributing to their safety and well-being. Additionally, a significant part of the organization's activities involves donating inventory to various 501c3 organizations based on their needs.
Who is the CEO of Threads Of Hope Thrift Store Inc?
Denise Melton is the Executive Director of Threads Of Hope Thrift Store Inc.
What is the revenue of Threads Of Hope Thrift Store Inc?
Threads Of Hope Thrift Store Inc's revenue in 2022 was $919,190.
Who are the executives of Threads Of Hope Thrift Store Inc and what are their salaries?
The average compensation at Threads Of Hope Thrift Store Inc during 2022 was $15,263. There are 23 employees and 40 volunteers at Threads Of Hope Thrift Store Inc.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
Where can I find the form 990 for Threads Of Hope Thrift Store Inc?
Threads Of Hope Thrift Store Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Threads Of Hope Thrift Store Inc
Threads of Hope Thrift Store Inc is a corporation with a mission to support various law enforcement and child welfare agencies in the State of Tennessee and Cumberland County. Beyond this, the organization also aims to educate and inform the public of Cumberland County and its surroundings, teaching them how to recognize, prevent, and protect against certain issues. The primary focus of Threads of Hope Thrift Store Inc is to contribute in a meaningful way to these vital community services. The corporation achieves this by managing the donations of inventory to various 501c3 organizations, distributing them based on their specific needs. This activity not only helps these organizations but also allows Threads of Hope Thrift Store Inc to fulfill its mission of assisting and supporting the community.
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Impact
July, 2024
Threads Of Hope Thrift Store Inc's impact is significant in supporting law enforcement and child welfare agencies in Tennessee, particularly in Cumberland County. The organization plays a crucial role in educating and informing the local community on recognizing, preventing, and protecting against various risks. Additionally, through their thrift store operations, Threads Of Hope Thrift Store Inc channels expenses and revenue to donate inventory to other 501c3 organizations in need, creating a ripple effect of support and aid within the region. Their focus on youth development underscores their commitment to building a safer and more informed community for future generations.
This information is meant to be a general summary of Threads Of Hope Thrift Store Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $1,587,129
Assets and Liabilities:
- Total Assets: $1,473,196
- Total Liabilities: $397,883
- Net Assets: $1,075,313
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Organization Details
Founding Year
2011
Principal Officer
Denise Melton
Main Address
PO Box 4002, Crossville, TN, 38557
NTEE Category
Code: O11 - Youth development
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