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Threads Dance Project EIN 27-3479875

Threads Dance Project FY2020 filing

EIN  27-3479875 Public charity (501(c)(3)) Minneapolis, MN Founded 2011
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Examines, exposes, and celebrates the threads that connect us all.
Leadership
Karen Charles · Executive Director · $34K
Money in and out
$254K revenue, $290K expenses
Bottom line
76% program efficiency

Examines, exposes, and celebrates the threads that connect us all. For fiscal year 2020 it reported $254K in revenue, $290K in expenses, and $32K in net assets.Pt I

Where the money goes · FY2020
Total revenue
$254K
Pt VIII · Ln 12
Total expenses
$290K
Pt IX · Ln 25
Net assets
$32K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$36K
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.14 Fundraising $0.10
Program efficiency
76%
of spending reaches programs
Operating runway
3.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
-14%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$254K
FY2020
Expenses
$290K
FY2020
Total assets
$95K
FY2020
Total liabilities
$63K
FY2020
Total revenue
$254K
Pt VIII · Ln 12
Total expenses
$290K
Pt IX · Ln 25
Net assets
$32K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$36K
Total assetsPt X · Ln 16$95K
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

1 program service account for $221K of program spending, described in the organization's own filed words · FY2020.
01

Tapestries program to support bipoc & female choreographers by giving them the resources to create work. 16 of planned 30 sessions cancelled due to pandemic; 3 choreographers, 8 dancers out of the ashes performance at the ordway - fall show commemorating the events of 9/11. This was cancelled due to COVID-19.

$221Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThreads Dance Project
EINHdr · item D27-3479875
Principal addressHdr · item CMinneapolis, MN
WebsiteHdr · item Jthreadsdance.org
Year of formationHdr · item L2011
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A62)
Ruling yearIRS BMFMar 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Karen Charles
Executive Director
$33,600Pt VII · Sec A
Christine Clifford
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Amanda Norman
President
$0Pt VII · Sec A
$0Pt VII · Sec A

Karen Charles’s $51K as Executive Director is at the 45th percentile of top reported officer pay among 2212 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Karen Charles$51,425$46,325$39,056$44,157$39,057$33,600

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$245K · 97%
Program service revenue$8K · 3%
Contributions & grants97%$245K
Program service revenue3%$8K
Investment income$5
Other revenue$1K
Total revenueLn 12$254K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.14 Fundraising $0.10
Program services76%$221K
Management & general14%$40K
Fundraising10%$29K
Total functional expensesLn 25$290K

Balance Sheet

Part X · end of year
CashLn 1$85K
Total assetsLn 16$95K
Total liabilitiesLn 26$63K
Total net assetsLn 32$32K
Months of cash on handcomputed3.5

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $85K · Operating expenses/yr $290K
3.5 months
Where the money goes
Program services
Program services $221K · Total expenses $290K
76%
Management & General
Management & general $40K · Total expenses $290K
14%
Fundraising
Fundraising $29K · Total expenses $290K
10%
Cost to raise $1
Fundraising expense $29K · Solicited contributions $245K
$0.12 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $245K · Total revenue $254K
97%
Government reliance
Government grants — · Total revenue $254K
—
Earned-income share
Program service revenue $8K · Total revenue $254K
3%
Investment reliance
Investment income $5 · Total revenue $254K
0%
Program self-sufficiency
Program service revenue $8K · Total expenses $290K
3%
Growth & trend
Revenue growth (YoY)
This year $254K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $32K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $254K · Expenses $290K
-14%
Liabilities-to-Assets
Total liabilities — · Total assets $95K
—
Net-asset ratio
Net assets $32K · Total assets $95K
34%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $95K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Karen Charles · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $34K · Total expenses $290K
12%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $106K · Total expenses $290K
37%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%——
Overhead ratio 14%——
Fundraising cost ratio 12%——
Legal fee ratio 1%——
Accounting fee ratio 4%——
Fundraising fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
The International Association of Blacks in Dance INCFY2024$200K
Thrivent Financial for LutheransFY2024$50K
The McKnight FoundationFY2024$30K
Jerome Foundation INCFY2024$28K
American Endowment FoundationFY2024$26K
The New York Community TrustFY2024$20K
Total grants receivedfrom 6 funders$353K
See all 6 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$528K revenue · ⤓ 990 PDF
FY2024$328K revenue · ⤓ 990 PDF
FY2023$431K revenue · ⤓ 990 PDF
FY2022$254K revenue · ⤓ 990 PDF
FY2021$255K revenue · ⤓ 990 PDF
FY2020$254K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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