The Golden Thread Inc
Nonprofit profile at a glance
- EIN
- 460984746
- IRS 990-EZ coverage
- 2013–2016
- Forms available
- Form 990-EZ 2016
- Location
- West Hartford, CT, USA
- Phone
- 8607609766
- Rating
- 89
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $62,199
- Expenses
- $66,096
- Assets
- $8,008
Source: IRS Form 990-EZ. Selected filing: tax year 2016. Amounts in USD.
Leadership & pay
9 people listed
People named in this filing
- Michael Galburri (Vice Chairman)
- Ellen Fox (Secretary)
- Mary McGowan (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 2016. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Raise funds and operate Golden Thread Gallery to display art work, hold performing arts and educational events for the public.
What it reported doing in 2016
Established in 2013, our mission is connecting the human spirit through the arts. We exhibit professional and emerging artists from various backgrounds and welcomes all mediums and cultures. By displaying a collection of various perspectives on a common theme, we reveal how art can creatively illustrate the diversity of the human condition. Our name, The Golden Thread, represents the invisible, underlying connection that weaves together the spirit of humanity through the arts.In our third season we introduced exphrastic poetry to our programming and invited poets to be inspired to create work based on the art in our exhibit. The results were astoundingly beautiful, both the poetry and the connections that were created between the poets and the artists. Our exhibits included; Tree of Life, Woman: A Fierce Beauty, and Art in Motion.We had our annual members exhibit in July 2016.In August 2016, our SPARK program funded Hartford artist Joy Monroe and allowed her to create a mural that speaks to the beauty and hope in her community in the Northend of Hartford.In November 2016, working with photographer Ruedi Hofmann and filmmaker Daniel Salazar III, we completed our ambitious and meaningful PIVOTAL HARTFORD project, which will premiere at The Bushnell Performing Arts Center in March of 2017. This multi-media, interactive installation tells the story of the City of Hartford through the voices of extraordinary people, some known and some quietly working to bring positive change to the City of Hartford. Pivotal Hartford includes; photography, film, and spoken word, combined in an exciting way where, through technology, photographs come alive, moving and speaking to the viewer.
Operating model
- Revenue model
- Donor-supported. 91% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 100
- Sustainability: 26
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89.1%; rating input score 89
- Program expense ratio: 83.8%; rating input score 84
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -6.3%; rating input score 34; 34th percentile among comparable filings
- Total-asset coverage ratio: 0.12; rating input score 11; 11th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 54.4% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: 34.4% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: -9.9% per year; rating input score 0; 21st percentile among comparable filings
Details
- Where the money goes: 89.1% of revenue deployed · 83.8% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $55K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- Filing history: 4 filing years from 2013 to 2016
- Contacts: How to reach this organization
- 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.
- Moderate — Sustainability: Operating margin scored 34/100.
- High — Sustainability: Total-asset coverage ratio scored 11/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.