Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2019.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
74 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
14 people listed on the 990.
Jonathan Brereton’s $112K as Executive Director is at the 26th percentile of top reported officer pay among 2833 $1–10M community development 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
| Name | FY2021 | FY2020 |
|---|---|---|
| Jonathan Brereton | $112,444 | $88,389 |
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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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Helps North Carolina's small businesses and entrepreneurs access resources to thrive.
Questions for Thread Capital
Your first name shows with your question. Thread Capital answers here, for everyone.
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Lending Program
Thread capital offers small business loans from $500 to $250,000 to businesses that are not effectively served by the traditional financial system. It also provides loans to businesses that have been impacted by either natural disasters or the global pandemic.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.7M | $8.7M |
| Total assetsLn 16 | $12.3M | $16.0M |
| LiabilitiesLn 26 | $4.0M | $3.9M |
| Net assetsLn 32 | $8.3M | $12.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $291K | $291K | ||
| Other salaries and wagesLn 7 | $965K | $965K | ||
| Pension plan contributionsLn 8 | $74K | $74K | ||
| Other employee benefitsLn 9 | $99K | $99K | ||
| Payroll taxesLn 10 | $95K | $95K | ||
| Management feesLn 11a | $776K | $776K | ||
| Legal feesLn 11b | $29K | $29K | ||
| Accounting feesLn 11c | $57K | $57K | ||
| Other fees for servicesLn 11g | $439K | $439K | ||
| Advertising and promotionLn 12 | $14K | $14K | ||
| Office expensesLn 13 | $8K | $8K | ||
| Information technologyLn 14 | $48K | $48K | ||
| OccupancyLn 16 | $5K | $5K | ||
| TravelLn 17 | $35K | $35K | ||
| Conferences, conventions and meetingsLn 19 | $25K | $25K | ||
| InterestLn 20 | $31K | $31K | ||
| Other expenses (24a–d)Ln 24 | $4K | $4K | ||
| All other expensesLn 24e | $27K | $27K | ||
| Total functional expensesLn 25 | $3.0M | $2.2M | $776K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $1.6M | $4.5M | −$2.8M | $8.7M | 990 PDF |
| FY2024 Viewing | $7.2M | $3.0M | $4.2M | $12.1M | 990 PDF |
| FY2023 | $3.0M | $2.5M | $540K | $8.3M | 990 PDF |
| FY2022 | $1.5M | $2.6M | −$1.1M | $8.2M | 990 PDF |
| FY2021 | $3.6M | $2.1M | $1.5M | $9.3M | 990 PDF |
| FY2020 | $3.8M | $1.8M | $2.1M | $7.8M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $7,228,789 revenue, 12 lines filed
Part VI · Governance 10 of 11 board members independent, no flags
Part VIII · Statement of revenue $7,228,789 across 6 lines filed
Part IX · Statement of functional expenses $3,021,846 across 18 lines filed
Part X · Balance sheet $15,959,507 assets, 14 lines filed
Part XI · Reconciliation of net assets $12,107,296 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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