PROJECT THREADWAYS INC

EIN: 834366226 501(c)(3) Education

FLORENCE, AL

Total Revenue
$2,013,689
Total Expenses
$1,350,575
Total Assets
$799,646
Net Assets
$720,104
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
AL
Tax Period
2024-01-01 to 2024-12-31

PROJECT THREADWAYS INC, founded in 2019, is a small nonprofit in the Education sector that reported $240K in total revenue in fiscal year 2023. Revenue surged 384% from the prior year, signaling strong growth momentum. The organization ran a surplus of $41K, a strong 17% operating margin.

Mission

THE CORPORATION IS IS ORGANIZED TO RECORD, MAKE STUDIES, TEACH AND EXPLORE THE HISTORY OF THE TEXTILE INDUSTRY IN NORTH ALABAMA. TO PROMOTE AND ADVANCE THE PURPOSES AND OBJECTIVES OF THE CORPORATION, TO RAISE FUNDS AND SUPPORT.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,145,487
Program Service Revenue $866,122
Investment Income $2,080
Other Revenue $0
TOTAL REVENUE $2,013,689

Expense Breakdown

Grants Paid $0
Salaries & Benefits $656,222
Fundraising Expenses $69,143
Program Expenses $1,004,345
Other Expenses $658,357
TOTAL EXPENSES $1,350,575

Year-over-Year Comparison

2024 2023 Change
Revenue $2,013,689 $240,385 +7.4%
Expenses $1,350,575 $199,760 +5.8%
Net Income $663,114 $40,625 +15.3%
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

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Governance

Voting Members
6
Independent Members
6
Employees
24
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
4
$162,362
Total Directors
6
$0
Key Employees
2
$162,362
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NATALIE CHANIN EXECUTIVE DIRECTOR 40.00
Officer Key Emp Highest
$85,366 $0 $85,366
JESSICA TURNER DIRECTOR 40.00
Officer Key Emp
$76,996 $0 $76,996
RINNE ALLEN CO-CHAIRMAN 3.00
Officer Director
$0 $0 $0
JUDITH WINFREY CO-CHAIRMAN 3.00
Officer Director
$0 $0 $0
MELISSA HALL BOARD MEMBER 3.00
Director
$0 $0 $0
CARRIE BARSKE-CRAWFORD BOARD MEMBER 3.00
Director
$0 $0 $0
ANSLEY QUIROS BOARD MEMBER 3.00
Director
$0 $0 $0
JIMMY SHAW BOARD MEMBER 3.00
Director
$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 No data No data No data No data
2024 $2,013,689 $1,350,575 $799,646 $663,114
2023 $240,385 $199,760 $67,443 $40,625
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