City Thread

Nonprofit profile at a glance

EIN
880867975
IRS 990 coverage
2022–2025
Forms available
Form 990 2025
Location
Denver, CO, USA
Phone
7204665228
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$2,034,549
Expenses
$1,998,158
Assets
$1,543,265
Liabilities
$69,381

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • PATRICK HENDRICKS (PRESIDENT)

Highest reported compensation

  • ZOE KIRCOS (SECRETARY/PA): $133,800 total reported compensation
  • KYLE WAGENSCHUTZ (CFO/PARTNER): $133,800 total reported compensation
  • SARA STUDDARD (PARTNER): $133,800 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We work to connect people and communities. We identify the right mix of partners, resources, strategy, and accountability to help local leaders think broadly about their projects and outcomes.

What it reported doing in 2025

City thread's program revenue is comprised of fee-for-service income, grants, and match funding for technical assistance awards.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 81
  • Accountability: 82
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.5%; rating input score 81
  • Program expense ratio: 81.9%; rating input score 82
  • Fundraising efficiency: $11.02 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.8%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 20.4%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 46.8% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 33.1% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 44.3% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 80.5% of revenue deployed · 81.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $134K · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $244K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 15/100.