Overview
What is Binding Thread Inc?
Binding Thread Inc, located in Evansville, Indiana, is a compassionate nonprofit organization that aims to alleviate poverty and support distressed individuals. Their primary focus is on assisting 550 orphans in Myanmar by providing essentials such as food, clothing, and education. The organization operates by collecting resources from generous donors in the United States and distributing them consistently to those in need. Through their mission, Binding Thread Inc strives to improve the lives of the underprivileged, offering a much-needed lifeline of support to orphans in Myanmar.
Official website here: www.bindingthread.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86%, Three-Star out of Four Star rating.
Binding Thread Inc has achieved a strong score of 86%, reflecting solid performance in both accountability & finance and culture & community. With an 83% score in Accountability & Finance, the organization demonstrates effective financial management and transparency, evident through its independent board composition and adherence to policies such as conflict of interest and whistleblower protections.
The charity's high program expense ratio of 98.56% indicates that the vast majority of its funds are directed towards its mission-driven activities, which has earned it positive feedback from constituents. Furthermore, it excels in feedback collection and usage, indicating a strong engagement with its community and responsiveness to their needs, with perfect scores in these areas.
However, the organization does show room for improvement in its equity strategies and data, scoring 81 out of 100 in those categories. While this is a respectable score, enhancing these areas could further strengthen its commitment to equity and inclusiveness in its operations. Overall, Binding Thread Inc appears to be a well-managed nonprofit making a significant impact in its field.
This AI summary has been generated from information found on Charity Navigator.
Is Binding Thread Inc legitimate?
Binding Thread Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Binding Thread 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.
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For more financial information, click here
Official website here: www.bindingthread.org
What is the mission statement of Binding Thread Inc?
Binding Thread Inc is an organization committed to alleviating the hardships of the less fortunate, particularly orphans. Their mission is to offer essential support by regularly and consistently collecting and distributing necessary resources. This includes providing food, clothing, and education to approximately 550 orphans in Myanmar. The organization aims to contribute to their well-being and improve their living conditions.
Official website here: www.bindingthread.org
Who is the CEO of Binding Thread Inc?
Jason Rugani is the Executive Director of Binding Thread Inc.
Official website here: www.bindingthread.org
What is the revenue of Binding Thread Inc?
Binding Thread Inc's revenue in 2022 was $668,201.
Official website here: www.bindingthread.org
Who are the executives of Binding Thread Inc and what are their salaries?
There 100 volunteers at Binding Thread Inc.
Here are 6 key members and their salaries:
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Official website here: www.bindingthread.org
Where can I find the form 990 for Binding Thread Inc?
Binding Thread Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bindingthread.org
Learn more at the official website: www.bindingthread.org
Mission Statement of Binding Thread Inc
Binding Thread Inc, a charitable organization, is committed to alleviating the suffering of the underprivileged, distressed, and impoverished, with a particular focus on orphans. Its mission is to offer essential aid, including food, clothing, and education, on a regular and consistent basis. By collecting resources from donors in the United States, this nonprofit organization works tirelessly to meet the basic needs of approximately 550 orphans in Myanmar. Through its actions, Binding Thread Inc strives to make a positive impact in the lives of these vulnerable children, providing them with the essentials they need to thrive.
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Impact
July, 2024
The impact of Binding Thread Inc is significant in providing basic needs such as food, clothing, and education to 550 orphans in Myanmar. Through local collection from donors in the US, the organization is able to make a direct and tangible difference in the lives of these underprivileged children. Their mission to relieve the poor, distressed, and underprivileged through regular and consistent distribution of resources showcases their commitment to making a positive impact in the world.
This information is meant to be a general summary of Binding Thread 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: $668,201
Assets and Liabilities:
- Total Assets: $399,108
- Total Liabilities: $40,557
- Net Assets: $358,551
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Organization Details
Founding Year
2019
Phone
(812) 568-0330Principal Officer
Jason Rugani
Main Address
703 S Willow Rd, Evansville, IN, 47714
Website
www.bindingthread.orgNTEE Category
Code: P30 - Human services
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