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Nonprofiteer
← NEWTHREADS OF HOPE INC

Form 990 for tax year 2023

Filed by NEWTHREADS OF HOPE INC.

Totals

Total revenue
$3,066,335
Total expenses
$5,301,304
Contributions and grants received
$3,066,335
Grants paid
$4,976,457
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$20,085,970
Total liabilities, end of year
$19,861
Net assets or fund balances, end of year
$20,066,109
Program services expenses (Part IX)
$5,234,496
Management and general expenses
$28,057
Fundraising expenses
$38,751
Program service expenses (Part III)
$5,234,496

Program services were 98.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $3,066,335

  • 1g · Noncash contributions included above

    $2,740,708

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,976,457 · program services $4,976,457

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $62,083 · program services $43,458 · management and general $9,313 · fundraising $9,312

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $57,001 · program services $37,050 · management and general $5,700 · fundraising $14,251

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $28,754 · program services $19,553 · management and general $3,738 · fundraising $5,463

  • 10 · Payroll taxes

    total $6,109 · program services $4,154 · management and general $794 · fundraising $1,161

  • 13 · Office expenses

    total $2,615 · program services $2,092 · management and general $261 · fundraising $262

  • 14 · Information technology

    total $106 · program services $74 · management and general $11 · fundraising $21

  • 16 · Occupancy

    total $162,269 · program services $146,348 · management and general $7,960 · fundraising $7,961

  • 19 · Conferences, conventions and meetings

    total $200 · program services $160 · fundraising $40

  • 23 · Insurance

    total $5,582 · program services $5,024 · management and general $279 · fundraising $279

  • 24a · Other expenses: Miscellaneous expenses

    total $128 · program services $126 · management and general $1 · fundraising $1

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,160 · end of year $81,206

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $463 · end of year $106

  • 10a · Land, buildings and equipment: cost or other basis

    $32,980

  • 10b · Land, buildings and equipment: accumulated depreciation

    $32,980

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $22,240,407 · end of year $20,004,658

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,952 · end of year $19,861

  • 27 · Net assets without donor restrictions

    beginning of year $22,301,078 · end of year $20,066,109

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

NewThreads of Hope, through its innovative gifts-in-kind program, offers support and a renewed sense of hope by providing brand new clothing, household items and educational materials to the poor, the ill, children and seniors, so that they may live more self-sufficient lives.

Activities or mission (Part I)

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

  • 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.

    Expenses $5,234,496 · Grants $4,976,457 · Revenue $3,066,335

As filed on the 2023 return.

Listed in Part VII

  • Dennis Brand

    President

    Total calculated
    $62,083
    From this org
    $62,083
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Patrick Byrne

    Chairman, Treasurer & Secretary

    Total calculated
    $0
    Hours/week
    10

  • Erica P John

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Armita Harmon

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Strelitz

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kaye Garcia

    Director

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
14 April 2025
IRS schema version
2023v6.0
Source object
202511049349302006

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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