THREADS DANCE PROJECT

EIN: 273479875 501(c)(3) Arts, Culture & Humanities

MINNEAPOLIS, MN

Total Revenue
$328,049
Total Expenses
$350,499
Total Assets
$416,800
Net Assets
$114,080
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
MN
Principal Officer
KAREN L CHARLES
Phone
9522505965
Tax Period
2024-01-01 to 2024-12-31

THREADS DANCE PROJECT, founded in 2011, is a small nonprofit in the Arts, Culture & Humanities sector that reported $328K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring.

Mission

TO EXAMINE, EXPOSE AND CELEBRATE THE THREADS THAT CONNECT US.

Program Service Accomplishments

Program 1
Expenses: $271,028 Revenue: $35,954

PERFORMANCE- THREADS PRESENTED 2 SEASON PERFORMANCES TAPESTRIES (SPRING), IMPRESSIONS(FALL) THESE PROGRAMS SERVED APPROXIMATELY 300 AUDIENCE MEMBERS, THREADS ALSO HAD SPECIAL FREE PERFORMANCES IN A...

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PERFORMANCE- THREADS PRESENTED 2 SEASON PERFORMANCES TAPESTRIES (SPRING), IMPRESSIONS(FALL) THESE PROGRAMS SERVED APPROXIMATELY 300 AUDIENCE MEMBERS, THREADS ALSO HAD SPECIAL FREE PERFORMANCES IN A MPLS CITY PARK AND NORTHROP AUDITORIUM TO COMMEMORATE MARTIN LUTHER KING; PROGRAMS - CONTINUED YOUTH PROGRAMMING BUT STILL NOT SELF-SUSTAINING PROGRAM; CONTINUED SUMMERIN DANCE INTENSIVE PROGRAM; OHTREACH - PARTICIPATED IN DISCOVER DANCE FESTIVAL TAUGH 100+YOUTH & PERFORMED,; ORG EFFECTIVENESS - FILLED FT MANAGING DIRECTOR POSITION THAT HAD BEEN OPEN FOR 18MOS.; PROVIDED HEALT BENEFIT STIPEND TO FT EMPLOYEES; INCREASED # OF PROFESSIONAL ARTISTS ON THE COMPANY BY 3; TRIED TO INCREASE FUNDRAISING EFFORTS BY ADDING LIVE EVENT ( THIS WAS NOT AS SUCCESSFULE AS WEH HAD HOPED)

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $289,471
Program Service Revenue $26,347
Investment Income $2,624
Other Revenue $9,607
TOTAL REVENUE $328,049

Expense Breakdown

Grants Paid $0
Salaries & Benefits $194,730
Fundraising Expenses $36,165
Program Expenses $271,028
Other Expenses $148,164
TOTAL EXPENSES $350,499

Year-over-Year Comparison

2024 2023 Change
Revenue $328,049 $430,988 -0.2%
Expenses $350,499 $313,198 +0.1%
Net Income $-22,450 $117,790 -1.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
25
Volunteers
20

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$46,325
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
OMARRA ALEXANDER SECRETARY 1.00
Officer Director
$0 $0 $0
KENNETH CHARLES VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
ALICIA PHILLIPS PRESIDENT 2.00
Officer Director
$0 $0 $0
AMANDA THOR DIRECTOR 1.00
Director
$0 $0 $0
ELLA MCGRADY-WILEY DIRECTOR 1.00
Director
$0 $0 $0
TRACI SHANNON DIRECTOR 1.00
Director
$0 $0 $0
LUCIA NASCIMENTO TREASURER 1.00
Officer Director
$0 $0 $0
KAREN CHARLES EXECUTIVE DIRECTOR 40.00
Officer
$46,325 $0 $46,325
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $328,049 $350,499 $416,800 $-22,450
2024 $328,049 $350,499 $416,800 $-22,450
2024 $328,049 $350,499 $416,800 $-22,450
2023 $430,988 $313,198 $199,188 $117,790
2022 $254,160 $265,291 $101,978 $-11,131
2022 $254,160 $265,291 $101,978 $-11,131
2021 $254,504 $256,588 $92,495 $-2,084
2020 $253,868 $290,107 $95,182 $-36,239
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