OPEN THREADS F/k/a Esperanza Threads Inc

Nonprofit profile at a glance

EIN
341921602
IRS 990-EZ coverage
2010–2025
Forms available
Form 990 2018, Form 990-EZ 2025
Location
Cleveland, OH, USA
Phone
2169619009
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Job Training

Official website

Reported finances

Revenue
$143,162
Expenses
$128,124
Assets
$51,588
Liabilities
$474

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Kerem Gencer (Executive Director)
  • Sanket Patel (Board President and Finance Chair)

People named in this filing

  • Kerem Gencer (Executive Director)
  • Sanket Patel (Board President and Finance Chair)
  • Cassandra Sirl (Board Member (resigned 3/13/25))

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Open Threads a nonprofit organization charted in the State of Ohio in 1971. The mission of Open Threads is to provide sewing skill training and finding employment. Open Threads uses 100% sustainable fabric designs. They made products for adults, youths, babies as well as beds, baths and kitchens while touting the fact that they are a non-profit training facility teaching those needing skills for employment how to sew on industrial machines.

What it reported doing in 2025

Open Threads operates an industrial sewing job training and job placement program for low-income individuals, including Clevelanders and migrant refugees new to the city, and operates as an organic clothing manufacturer and retailer. The mission is to provide sewing training leading to good-quality jobs, to assist individuals facing barriers to employment in supporting a family, and to help them build careers through hands-on instruction on industrial sewing machines.

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 100
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.8%; rating input score 61
  • Program expense ratio: 64.8%; rating input score 65

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: 10.5%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.4; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 40%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 60.8% of revenue deployed · 64.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $83K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 9 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Review — Sustainability: Operating margin scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.