Newthreads Of Hope Inc
- Assets
- $22.3m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 2
- Location
- Wauwatosa, WI
- Founding
- 09/1995
- Data as of
- 05/2023
- EIN
- 39-1674150
Organization Overview
Newthreads Of Hope Inc is located in Wauwatosa, WI. The organization was established in 1995. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 05/2023, Newthreads Of Hope Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newthreads Of Hope Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Newthreads Of Hope Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $4.9m during the year ending 05/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Newthreads Of Hope Inc has awarded 126 individual grants totaling $9,496,788. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEWTHREADS OF HOPE SOLICITS AND RECEIVES RETURNED AND EXCESS BRAND NEW MERCHANDISE FROM CORPORATIONS. IT SORTS, WAREHOUSES AND REDISTRIBUTES THIS MERCHANDISE TO A WIDE RANGE OF CHARITABLE ORGANIZATIONS TO BE EITHER DISTRIBUTED TO OR USED FOR THE CARE OF THE POOR, THE SICK, ELDERLY OR CHILDREN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEWTHREADS OF HOPE PROGRAM, THE ORGANZATION'S ONLY PROGRAM, IS A GIFTS IN KIND MERCHANDISE DISTRIBUTION PROGRAM. NEWTHREADS SOLICITS AND RECEIVES DONATIONS OF BRAND NEW CLOTHING, BEDDING, HOUSEHOLD GOODS, BOOKS AND OTHER SOFTGOODS FROM MANUFACTURES, RETAILERS AND WHOLESALERS. THIS MERCHANDISE IS THEN WAREHOUSED, SORTED, PROCESSED, AND THEN REDISTRIBUTED THROUGH A NETWORK OF NONPROFIT AND GOVERNMENTAL ORGANIZATIONS TO INDIVIDUALS AND FAMILIES IN NEED. THIS MERCHANDISE MUST BE USED FOR THE CARE OF OR USE OF THE POOR, THE SICK, CHILDREN OR ELDERLY. PLEASE SEE SCHEDULE I FOR A LISTING OF DISTRIBUTIONS OF THIS GIFTS IN KIND MERCHANDISE MADE DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Brand President | OfficerTrustee | 40 | $78,677 |
Patrick Byrne Chairman, Treasurer & Secretary | OfficerTrustee | 10 | $0 |
Robert Smith Director | Trustee | 1 | $0 |
Erica P John Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,239,416 |
| Noncash contributions included in lines 1a–1f | $7,798,390 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,239,416 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,239,416 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,555,852 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,677 |
| Compensation of current officers, directors, key employees. | $11,801 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,792 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,392 |
| Payroll taxes | $7,646 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,044 |
| Information technology | $717 |
| Royalties | $0 |
| Occupancy | $166,164 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $200 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,386 |
| All other expenses | $0 |
| Total functional expenses | $4,894,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,160 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $463 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,240,407 |
| Total assets | $22,320,030 |
| Accounts payable and accrued expenses | $18,952 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,952 |
| Net assets without donor restrictions | $22,301,078 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,320,030 |
Grants Awarded
Over the last fiscal year, Newthreads Of Hope Inc has awarded $4,555,852 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
BAD RIVER SOCIAL & FAMILY SERVICES DEPARTMENT PURPOSE: See part IV | $123,654 |
CAPUCHIN COMMUNITY SERVICESHOUSE OF PEACE PURPOSE: See part IV | $175,050 |
BENEDICT CENTER PURPOSE: See part IV | $39,395 |
CARE NET PREGNANCY CENTER OF MILWAUKEE PURPOSE: See part IV | $35,465 |
CHOSEN PURPOSE: See part IV | $14,310 |
COA YOUTH & FAMILY CENTER PURPOSE: See part IV | $65,885 |