Honduras Threads
Nonprofit profile at a glance
- EIN
- 201813265
- IRS 990-EZ coverage
- 2019–2024
- Forms available
- Form 990-EZ 2024
- Location
- Dallas, TX, USA
- Phone
- 2146328595
- Rating
- 46
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Centers to Support the Independence of Specific Populations
Reported finances
- Revenue
- $190,076
- Expenses
- $156,303
- Assets
- $58,581
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Bill Bancroft (President)
People named in this filing
- Bill Bancroft (President)
- Suki Jarzemsky (Secretary)
- Tom Blackmon (Director)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Honduras Thread's Mission is to strengthen the fabric of lives through work, pride and faith. Since we became a nonprofit in 2003, we started 5 cooperatives in rural communities near Tegucigalpa, Honduras to provide women a way to earn money without leaving their homes and families. Honduras Threads has taught the women embroidery and sewing techniques, business skills, provided designs and donated applique fabrics, and marketed their products in the U.S. All proceeds of the sales go directly to the artisans. In 2016, the women voted to seek a social enterprise designation from the Honduran government. This is a designation for agricultural and artisan businesses owned equally by all participants in rural areas. In October 2017, the government approved the designation for the business, Empressa de Servicio Multiples Mujere Artisanas Arte y Creatividad. This gives the business legitimacy and is a necessary step in setting them on a path toward sustainability in years to come.
What it reported doing in 2024
We have resumed events and activities this fiscal year after the end of the pandemic. We have also continued fundraising efforts. We have held an art show to help boost sales that was very successful.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
MIXED - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 100
- Sustainability: 59
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 17.8%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 0.37; rating input score 30; 30th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 19.6% per year; rating input score 100; 83rd percentile among comparable filings
- Asset growth: 5.3% per year; rating input score 100; 46th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Filing history: 4 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 30/100.