SPREADING THREADS CLOTHING BANK

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2016

Legal Domicile

Principal Officer

MICHELE BENNETT

Tax Period

2025-01-01 to 2025-12-31

SPREADING THREADS CLOTHING BANK, founded in 2016, is a small nonprofit in the Human Services sector that reported $345K in total revenue in fiscal year 2025. Revenue surged 52% from the prior year, signaling strong growth momentum. The organization ran a surplus of $129K, a strong 37% operating margin.

Mission

PROVIDE NEW AND USED CLOTHING TO FOSTER/ADOPTIVE AND KINSHIP FAMILIES IN SOUTHERN ARIZONA IN ORDER TO DECREASE THEIR FINANCIAL BURDEN AND PROVIDE CLOTHING THAT CHILDREN FEEL GOOD WEARING

Program Service Accomplishments

Program 1

Expenses: $215,900 Revenue: $344,588

PROVIDED NEW AND USED CLOTHING TO SEVERAL FOSTER AND ADOPTIVE FAMILIES IN 2022 THAT HELPED REDUVS THE FINANCIAL BURDEN ON THESE FAMILIES

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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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $340,257

Program Service Revenue $0

Investment Income $0

Other Revenue $4,331

TOTAL REVENUE $344,588

Expense Breakdown

Grants Paid $0

Salaries & Benefits $60,240

Fundraising Expenses $0

Program Expenses $215,900

Other Expenses $155,660

TOTAL EXPENSES $215,900

Year-over-Year Comparison

	2025	2024	Change
Revenue	$344,588	$226,198	+0.5%
Expenses	$215,900	$224,532	0.0%
Net Income	$128,688	$1,666	+76.2%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELE BENNETT	PRESIDENT	10.00	Officer	$0	$0	$0
PAT HERNANDEZ	VICE PRESIDENT	10.00	Officer	$0	$0	$0
JIM PHILLIPS	TREASURER	10.00	Officer	$0	$0	$0
TERRY DUBAY	SECRETARY	5.00	Officer	$0	$0	$0
BETH MCABEE	BOARD MEMBER	5.00	Officer	$0	$0	$0
SANDY LAROWE	BOARD MEMBER	5.00	Officer	$0	$0	$0
SHARON BENNETT	BOARD MEMBER	5.00	Officer	$0	$0	$0

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	$344,588	$215,900	$658,075	$128,688
2024	$226,198	$224,532	$542,627	$1,666
2023	$275,586	$157,843	$555,586	$117,743
2022	$205,330	$212,873	$477,625	$-7,543