Nonprofit · EIN 83-1284532
THREAD CAPITAL
Tax-exempt · RALEIGH, NC 27610
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,612,726 | $4,458,425 | -$2,845,699 | $11,672,551 | $2,952,788 | $8,719,763 |
| June 30, 2024 | 990 | $7,228,789 | $3,021,846 | $4,206,943 | $15,959,507 | $3,852,211 | $12,107,296 |
| June 30, 2023 | 990 | $3,034,496 | $2,494,891 | $539,605 | $11,368,374 | $3,035,125 | $8,333,249 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $45,000
- Program service revenue
- $1,446,951
- Investment income
- $120,775
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $3,276,208
- Other salaries and wages
- $250,666
- Salaries, compensation and benefits (total)
- $310,773
- Professional fundraising fees
- $0
- Legal fees
- $3,570
- Accounting fees
- $51,150
- Occupancy
- $715
- Travel
- $4,528
- Program services (functional)
- $4,201,016
- Management and general (functional)
- $257,409
Balance sheet and other
- Total assets, start of year
- $15,959,507
- Total assets, end of year
- $11,672,551
- Total liabilities, end of year
- $2,952,788
- Net assets, end of year
- $8,719,763
- Net assets without donor restrictions
- $2,627,394
- Net assets with donor restrictions
- $6,092,369
- Gross receipts
- $1,612,726
- Employees
- 0
- Volunteers
- 10
- Year formed
- 2018
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| PATRICK WOODIE | DIRECTOR Trustee or director | 1 | $0 | $384,462 | $51,084 |
| CAROLYN RHODES | COO Officer | 1 | $0 | $303,879 | $36,358 |
| FRANKLIN ROBERTS | CFO & ASST TREASURER Officer | 1 | $0 | $235,999 | $39,310 |
| JONATHAN BRERETON | EXECUTIVE DIRECTOR (TO AUG '23) Former | 20 | $0 | $237,735 | $0 |
| ANDY ANDERSON | CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOSEPH STANLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KIM GRAHAM | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RYAN AMMANN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOSE ALVAREZ | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| AL BASS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GRANT GODWIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JUVENCIO ROCHA-PERALTA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN STOKES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRITTANY BENNETT WESTON | DIRECTOR (TO DEC '24) Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 14 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| PATRICK WOODIE | DIRECTOR Trustee or director | 1 | $0 | $250,071 | $35,644 |
| JONATHAN BRERETON | EXECUTIVE DIRECTOR (TO AUG '23) Officer | 20 | $0 | $237,491 | $46,366 |
| FRANKLIN ROBERTS | CFO & ASST TREASURER Officer | 1 | $0 | $198,309 | $35,996 |
| CAROLYN RHODES | COO (FROM JUL '23) Officer | 1 | $0 | $111,617 | $12,962 |
| ANDY ANDERSON | CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOSEPH STANLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KIM GRAHAM | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RYAN AMMANN | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOSE ALVAREZ | DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| AL BASS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GRANT GODWIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JUVENCIO ROCH-PERALTA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN STOKES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRITTANY BENNETT WESTON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 15 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JONATHAN BRERETON | EXECUTIVE DIRECTOR Officer | 20 | $0 | $238,931 | $42,897 |
| PATRICK WOODIE | DIRECTOR Trustee or director | 1 | $0 | $215,074 | $46,161 |
| FRANKLIN ROBERTS | CFO & COO/ASST TREASURER (FROM MAR '22) Officer | 1 | $0 | $143,139 | $25,447 |
| BRANDON ROSAS | VP, FINANCE & ADMIN (TO MAR '22) Officer | 1 | $0 | $138,821 | $11,450 |
| ANDY ANDERSON | CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOSEPH STANLEY | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KIM GRAHAM | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RYAN AMMANN | DIRECTOR (FROM JUN '23) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JOSE ALVAREZ | DIRECTOR (FROM JUN '23) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| AL BASS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| GRANT GODWIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| HENRY MCKOY | DIRECTOR (TO AUG '22) Trustee or director | 1 | $0 | $0 | $0 |
| JUVENCIO ROCH-PERALTA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN STOKES | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRITTANY BENNETT WESTON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4021 CARYA DR, RALEIGH, NC 27610-2914
- In care of
- % JONATHAN BRERETON
- Principal officer (990 for 2024)
- PATRICK WOODIE, 4021 CARYA DRIVE, RALEIGH, NC 27610
- Signed the 990
- ANDY ANDERSON, BOARD CHAIR
- Phone
- (919) 212-4950
- Website
- THREADCAP.ORG
- Return prepared by
- JOHNSON LAMBERT LLP
Mission
THREAD CAPITAL BELIEVES EVERYONE DESERVES THE CHANCE TO BE SUCCESSFUL. WE GIVE PEOPLE THE TOOLS THEY NEED TO PURSUE THEIR SMALL-BUSINESS DREAMS, AND CREATE A BETTER TOMORROW FOR THEMSELVES, THEIR FAMILIES, AND THEIR COMMUNITIES.
Program accomplishments
- LENDING PROGRAM - IN MAY OF 2024, MANAGEMENT OF THREAD CAPITAL BEGAN A STRATEGIC ASSESSMENT OF OPERATIONS, INCLUDING TEMPORARILY CEASING LOAN ORIGINATIONS WHILE CONTINUING TO SERVICE EXISTING LOANS OUTSTANDING. THIS ASSESSMENT CULMINATED IN A NEW CAPITAL ACCESS FRAMEWORK WHERE THREAD WILL SUPPORT SMALL BUSINESS LENDING IN AN INTERMEDIARY ROLE INSTEAD OF A DIRECT LENDING ROLE. CURRENTLY, THREAD IS PLANNING AND INIATING THIS NEW FRAMEWORK. IT WILL CONTINUE TO SERVICE LOANS THAT HAD ALREADY BEEN ORIGINATED. PRIOR TO THIS ASSESSMENT, THREAD CAPITAL OFFERED SMALL BUSINESS LOANS FROM $500 TO $250,000 TO BUSINESSES THAT WERE NOT EFFECTIVELY SERVED BY THE TRADITIONAL FINANCIAL SYSTEM. IT ALSO PROVIDED LOANS TO BUSINESSES THAT HAVE BEEN IMPACTED BY EITHER NATURAL DISASTERS OR THE GLOBAL PANDEMIC. IN ADDITION TO CAPITAL ACCESS, THREAD CAPITAL ALSO PROVIDED COACHING AND CONNECTIONS TO SMALL BUSINESSES AND ENTREPRENEURS.Expenses $4,201,016 · grants $3,276,208 · revenue $1,446,951
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 83-1284532
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2019
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S19)
- Assets (IRS master file)
- $11,672,551
- Income (IRS master file)
- $1,612,726
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,612,726 | $4,458,425 | $11,672,551 | XML |
| 990 | June 2024 | $7,228,789 | $3,021,846 | $15,959,507 | XML |
| 990 | June 2023 | $3,034,496 | $2,494,891 | $11,368,374 | XML |
| 990 | June 2022 | $1,469,550 | $2,568,332 | $10,988,241 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 83-1284532).
Questions about THREAD CAPITAL
- What is the EIN of THREAD CAPITAL?
- The employer identification number (EIN) of THREAD CAPITAL is 83-1284532.
- Is THREAD CAPITAL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to THREAD CAPITAL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does THREAD CAPITAL file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THREAD CAPITAL due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THREAD CAPITAL last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of THREAD CAPITAL?
- The 990 for the year ended June 30, 2025 names PATRICK WOODIE.
- Who are the officers and directors of THREAD CAPITAL?
- The 990 for the year ended June 30, 2025 lists 14 people; 0 received compensation from the organization.
- How much revenue does THREAD CAPITAL have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,612,726, expenses of $4,458,425 and total assets of $11,672,551 at year end.
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All nonprofits in RALEIGH · North Carolina · Community improvement and capacity building