THREAD CAPITAL INC (EIN 831284532) - Form 990 Financial Analysis & Trantor Score

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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

2018

Legal Domicile

Principal Officer

PATRICK WOODIE

Phone

9192124950

Tax Period

2024-07-01 to 2025-06-30

THREAD CAPITAL INC, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $1.6M in total revenue in fiscal year 2024. Revenue fell 78% from the prior year — a significant decline worth monitoring. Expenses of $4.5M exceeded revenue, resulting in a 176% operating deficit.

Mission

ENSURING NC'S SMALL BUSINESSES AND ENTREPRENEURS HAVE ACCESS TO THE RESOURCES THEY NEED TO THRIVE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $45,000

Program Service Revenue $1,446,951

Investment Income $120,775

Other Revenue $0

TOTAL REVENUE $1,612,726

Expense Breakdown

Grants Paid $3,276,208

Salaries & Benefits $310,773

Fundraising Expenses $0

Program Expenses $4,201,016

Other Expenses $871,444

TOTAL EXPENSES $4,458,425

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,612,726	$7,228,789	-0.8%
Expenses	$4,458,425	$3,021,846	+0.5%
Net Income	$-2,845,699	$4,206,943	-1.7%

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

Employees

N/A

Volunteers

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

$615,546

Total Directors

$435,546

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK WOODIE	DIRECTOR	1.00	Director	$0	$51,084	$435,546
ANDY ANDERSON	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
JOSEPH STANLEY	TREASURER	1.00	Officer Director	$0	$0	$0
KIM GRAHAM	SECRETARY	1.00	Officer Director	$0	$0	$0
RYAN AMMANN	DIRECTOR	1.00	Director	$0	$0	$0
JOSE ALVAREZ	DIRECTOR	1.00	Director	$0	$0	$0
AL BASS	DIRECTOR	1.00	Director	$0	$0	$0
GRANT GODWIN	DIRECTOR	1.00	Director	$0	$0	$0
JUVENCIO ROCHA-PERALTA	DIRECTOR	1.00	Director	$0	$0	$0
JOHN STOKES	DIRECTOR	1.00	Director	$0	$0	$0
BRITTANY BENNETT WESTON	DIRECTOR (TO DEC '24)	1.00	Director	$0	$0	$0
CAROLYN RHODES	COO	1.00	Officer	$0	$36,358	$340,237
FRANKLIN ROBERTS	CFO & ASST TREASURER	1.00	Officer	$0	$39,310	$275,309
JONATHAN BRERETON	EXECUTIVE DIRECTOR (TO AUG '23)	20.00		$0	$0	$237,735

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	$1,612,726	$4,458,425	$11,672,551	$-2,845,699
2024	$7,228,789	$3,021,846	$15,959,507	$4,206,943
2023	$3,034,496	$2,494,891	$11,368,374	$539,605
2022	$1,469,550	$2,568,332	$10,988,241	$-1,098,782
2021	$3,562,695	$2,068,967	$10,500,992	$1,493,728
2020	$3,838,887	$1,776,207	$10,857,847	$2,062,680
2019	$8,078,528	$685,706	$7,470,509	$7,392,822

THREAD CAPITAL INC