Is Independent Textile Rental Association Inc Legit?
Quick charity verification for Independent Textile Rental Association Inc (EIN: 200482965)
Verdict: Independent Textile Rental Association Inc appears trustworthy
75/100Mission Score
$206KRevenue
$153KAssets
2Red Flags
4Strengths
Red Flags
Unexplained significant deficit in 2022 (Expenses $295,413 vs. Revenue $235,167)
Consistent 0% officer compensation, which is unusual for an organization with consistent revenue, potentially indicating compensation through other means or a fully volunteer-run executive structure.
Strengths
Consistent IRS 990 filing history (13 filings) demonstrating transparency.
Generally stable financial performance with revenues often exceeding expenses.
Low liabilities relative to assets in recent years (e.g., $16,365 liabilities vs. $253,384 assets in 2023).
No reported officer compensation, suggesting a lean executive cost structure.
Spending Breakdown
How Independent Textile Rental Association Inc allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Independent Textile Rental Association Inc
Is Independent Textile Rental Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Independent Textile Rental Association Inc (EIN: 200482965) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
Is Independent Textile Rental Association Inc a good charity to donate to?
Independent Textile Rental Association Inc has a Mission Score of 75/100. Revenue: $206K. Assets: $153K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Independent Textile Rental Association Inc?
The Employer Identification Number (EIN) for Independent Textile Rental Association Inc is 200482965. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Independent Textile Rental Association Inc spend its money?
Independent Textile Rental Association Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Independent Textile Rental Association Inc's tax-exempt status?
You can verify Independent Textile Rental Association Inc's tax-exempt status using EIN 200482965 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Independent Textile Rental Association Inc. demonstrates a generally stable financial position, with revenues consistently exceeding expenses in most recent years, such as 2023 where revenue was $210,333 against expenses of $144,782. However, there was a notable deficit in 2022, with expenses of $295,413 surpassing revenues of $235,167, indicating some variability in financial performance. The organization's assets have fluctuated, reaching a high of $323,613 in 2017 and currently standing at $253,384 in 2023, suggesting a reasonable asset base relative to its operational scale. Liabilities have generally remained manageable, with the latest filing showing $16,365, which is a significant reduction from previous years like $70,558 in 2017, indicating good financial management in this area.
Spending efficiency appears to be reasonable, given the consistent positive net income in most years. The organization's NTEE code S41 (Business & Professional Associations) suggests its primary activities are likely related to supporting its members rather than direct public programs. Without detailed expense breakdowns from the 990s, it's challenging to precisely assess program spending versus administrative or fundraising costs. However, the absence of reported officer compensation across all filings indicates a lean operational structure at the executive level, which is a positive sign for efficiency and resource allocation.
In terms of transparency, the organization has a consistent filing history with 13 IRS 990 filings, demonstrating adherence to reporting requirements. The consistent reporting of zero officer compensation is a strong indicator of transparency regarding executive pay. While specific program details are not provided in the summary data, the regular filings allow for public scrutiny of its financial activities, contributing to overall transparency.