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Binding Thread INC

Tax-deductible

Evansville, IN501(c)(3)Human ServicesEIN 83-3464773Revenue $890K in FY2025

On file with the IRSbindingthread.org703 S Willow Rd, 47714-1924 · Evansville, INTax-exempt since Mar 2019Publicly supported charity — 170(b)(1)(A)(vi)

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Binding Thread Inc is an organization dedicated to relief of the poor distressed and underpriveledged by providing basic needs to orphans

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 100 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $92K a year · 12% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$7K
to officers and key staff · 0.9% of spending
Top officer’s pay lower than 97% of similar orgs
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 11.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $31K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$890K
+14% vs prior year
Spent
$830K
To programs
100%
Net assets
$779K
By yearFY2020–FY2025
Revenue
$890K
FY2025▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$602K
FY2021$770K
FY2022$668K
FY2023$927K
FY2024$780K
FY2025$890K
Expenses
$830K
FY2025▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2020$499K
FY2021$653K
FY2022$768K
FY2023$653K
FY2024$684K
FY2025$830K
Net assets
$779K
FY2025▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$331K
FY2021$449K
FY2022$359K
FY2023$622K
FY2024$719K
FY2025$779K

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $830K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990; $7K paid to officers and key staff.

Part VII, Section A · reportable compensation
Jason Rugani
Executive Director
$7,388Pt VII · Sec A
Beth Tromley
Shop Manager
$0Pt VII · Sec A
Ashley Dye
Advisor
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Allison Rugani
Connection Director
$0Pt VII · Sec A

Jason Rugani’s $7K as Executive Director is at the 3rd percentile of top reported officer pay among 2168 $100K–1M human services 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.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides basic needs like food and shelter to orphaned children.

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Provided by the organization

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2 programs · $830K · in their own filed words · FY2025
01

Provide food, clothing, housing, and education to widows and orphans in Myanmar through local collection from donors in the US

$813Kprogram expense
02

Provide food, clothing, housing, and education to at risk women in Myanmar through local collection from donors in the US

$17Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
American Endowment FoundationFY2024$21K
The Independent Charitable Gift FundFY2024$10K
Total grants receivedfrom 2 funders$31K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$890K
Ln 12
Gifts and grantsLn 1h$843K
Fees for servicesLn 2g$29K
Investment incomeLn 3$19K
Money outPt IX
$830K
Ln 25
Programscol B$830K
Owns and owesPt X
$779K
net assets · Ln 32
Cash and savingsLn 1–2$779K
Total assetsLn 16$779K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$843K
Fees for servicesLn 2g$29K
Investment incomeLn 3$19K
Total revenueLn 12$890K
Assets in detailPt X, end of year
CashLn 1$298K
SavingsLn 2$481K
Cash and savings togetherLn 1–2$779K
Total assetsLn 16$779K
LiabilitiesLn 26$0
Net assetsLn 32$779K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6100
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$719K$779K
Total assetsLn 16$719K$779K
LiabilitiesLn 26$0$0
Net assetsLn 32$719K$779K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$729K$729K
Management feesLn 11a$62K$62K
Office expensesLn 13$22K$22K
Payments to affiliatesLn 21$2K$2K
InsuranceLn 23$729$729
Other expenses (24a–d)Ln 24$14K$14K
Total functional expensesLn 25$830K$830K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $890K$830K$60K$779K 990 PDF
FY2024 $780K$684K$96K$719K 990 PDF
FY2023 $927K$653K$274K$622K 990 PDF
FY2022 $668K$768K−$99K$359K 990 PDF
FY2021 $770K$653K$118K$449K 990 PDF
FY2020 $602K$499K$103K$331K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $890,389 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $761,802$842,724
I-9 Program service revenue$28,601
I-10 Investment incomePrior year $18,522$19,064
I-11 Other revenue$0
I-12 Total revenuePrior year $780,324$890,389
I-13 Grants and similar amounts paidPrior year $613,107$729,342
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $70,965$100,952
I-18 Total expensesPrior year $684,072$830,294
I-19 Revenue less expensesPrior year $96,252$60,095
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $890,389 across 6 lines filed
VIII-1f All other contributions, gifts and grants$842,724
VIII-1h Total contributions, gifts and grants$842,724
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $28,601$28,601
VIII-3 Investment incomeRelated to mission $19,064$19,064
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $47,665 · Unrelated business $0 · Excluded from tax $0$890,389
Part IX · Statement of functional expenses $830,294 across 6 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $729,342$729,342
IX-11a Management feesPrograms $62,097$62,097
IX-13 Office expensesPrograms $21,753$21,753
IX-21 Payments to affiliatesPrograms $2,000$2,000
IX-23 InsurancePrograms $729$729
IX-24 Other expenses (24a–d)Programs $14,373$14,373
IX-25 Total functional expensesPrograms $830,294 · Management $0 · Fundraising $0$830,294
Part X · Balance sheet $778,813 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $309,956$297,910
X-2 Savings and temporary cash investmentsStart of year $408,762$480,903
X-16 Total assetsStart of year $718,718$778,813
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $718,718$778,813
X-32 Total net assets or fund balancesStart of year $718,718$778,813
X-33 Total liabilities and net assetsStart of year $718,718$778,813
Part XI · Reconciliation of net assets $778,813 net assets at year end
XI-1 Total revenue$890,389
XI-2 Total expenses$830,294
XI-3 Revenue less expenses$60,095
XI-4 Net assets at start of year$718,718
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$778,813

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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