Overview
What is Thread Capital Inc?
Thread Capital Inc, established in Raleigh, North Carolina, is a nonprofit organization that specializes in providing small business loans. Recognizing the gaps in traditional financial systems, Thread Capital offers loans ranging from $500 to $250,000 to businesses that may not have had access to such resources previously. In the aftermath of natural disasters or the global pandemic, Thread Capital expanded its offerings, providing larger loans up to $250,000. Their primary mission is to ensure the success of North Carolina's small businesses and entrepreneurs by making essential resources readily available. Thread Capital believes in the potential of every individual to succeed, providing the necessary tools for small-business aspirants to turn their dreams into reality, thereby improving their lives, families, and communities.
Official website here: www.threadcap.org
Is Thread Capital Inc legitimate?
Thread Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thread Capital 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: $109,531
Professional Fundraising Fees: $0
Other Salaries and Wages: $834,272
For more financial information, click here
Official website here: www.threadcap.org
What is the mission statement of Thread Capital Inc?
Thread Capital Inc's mission is centered around providing opportunities for small businesses and entrepreneurs to succeed. They believe in the inherent potential of everyone and aim to equip them with the necessary tools for their small-business ventures. By offering loans ranging from $500 to $250,000, Thread Capital serves businesses that are overlooked by traditional financial institutions. Their primary product is a term loan of up to $100,000, while their secondary product caters to businesses impacted by natural disasters or the global pandemic, providing a term loan of up to $250,000. In essence, Thread Capital is dedicated to fostering a better tomorrow for businesses, their families, and their communities.
Official website here: www.threadcap.org
Who is the CEO of Thread Capital Inc?
Jonathan Brereton is the Executive Director of Thread Capital Inc.
Official website here: www.threadcap.org
What is the revenue of Thread Capital Inc?
Thread Capital Inc's revenue in 2022 was $1,469,550.
Official website here: www.threadcap.org
Who are the executives of Thread Capital Inc and what are their salaries?
There 9 volunteers at Thread Capital Inc.
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $178,690
- Other: $28,402
- Compensation: $0
- Related: $122,807
- Other: $17,708
- Compensation: $0
- Related: $120,463
- Other: $28,366
- Compensation: $0
- Related: $110,446
- Other: $18,615
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.threadcap.org
Where can I find the form 990 for Thread Capital Inc?
Thread Capital Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.threadcap.org
Learn more at the official website: www.threadcap.org
Mission Statement of Thread Capital Inc
Thread Capital Inc, a nonprofit organization, is committed to ensuring that small businesses and entrepreneurs in North Carolina have access to the resources necessary for their success. Their mission is rooted in the belief that everyone deserves an opportunity to thrive. Thread Capital provides the necessary tools for individuals to pursue their small-business dreams, ultimately creating a better tomorrow for themselves, their families, and their communities.
In line with their mission, Thread Capital offers small business loans ranging from $500 to $250,000 to businesses that are not effectively served by the traditional financial system. Their primary product is a term loan up to $100,000, while their secondary product is a term loan up to $250,000 for businesses that have been impacted by either natural disasters or the global pandemic. By providing these loans, Thread Capital is not just offering financial assistance, but also helping to build a strong foundation for the growth and sustainability of these small businesses.
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Impact
October, 2024
Thread Capital Inc significantly enhances the economic landscape for small businesses and entrepreneurs in North Carolina by providing essential financial resources. By offering loans ranging from $500 to $250,000, it addresses the needs of businesses that often find themselves underserved by traditional financial institutions. Its primary product, a term loan up to $100,000, is complemented by a secondary option for up to $250,000, tailored specifically for those impacted by natural disasters or the global pandemic.
This organization empowers individuals to realize their small-business aspirations, ultimately fostering community improvement and economic resilience. By enabling access to financing, Thread Capital plays a crucial role in helping entrepreneurs create a better future for themselves, their families, and their communities. The commitment to ensuring that everyone has the opportunity to succeed drives the mission of Thread Capital and contributes to a thriving, diverse business ecosystem in North Carolina.
This information is meant to be a general summary of Thread Capital 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.
- Investment Income: $869,906
- Program Service Revenue: $94,034
- Gross Receipts: $1,469,550
Assets and Liabilities:
- Total Assets: $10,988,241
- Total Liabilities: $2,744,597
- Net Assets: $8,243,644
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE FEES
Revenue
$94,034
Organization Details
Founding Year
2018
Phone
(919) 212-4950Principal Officer
Jonathan Brereton
Main Address
4021 CARYA DRIVE, RALEIGH, NC, 27610
Website
www.threadcap.orgNTEE Category
Code: S19 - Community improvement
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