Textile Care Allied Trades Association Inc
Textile Care Allied Trades Association Inc: Strong Assets, Inconsistent Revenue
EIN: 221640156 · Indian Trail, NC · Updated: 2026-04-04
Is Textile Care Allied Trades Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Textile Care Allied Trades Association Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Textile Care Allied Trades Association Inc
Textile Care Allied Trades Association Inc (EIN: 221640156) is a nonprofit organization based in Indian Trail, NC. The organization reported total revenue of $918K and total assets of $4.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Textile Care Allied Trades Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Textile Care Allied Trades Association Inc is a small nonprofit that has been operating for 84 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $482K |
| Total Expenses | $334K |
| Surplus / Deficit | +$148K |
| Total Assets | $4.0M |
| Total Liabilities | $11K |
| Net Assets | $4.0M |
| Operating Margin | 30.8% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 142.8 months |
Financial Health Grade: A
In 2023, Textile Care Allied Trades Association Inc reported a surplus of $148K with revenue exceeding expenses, holds 142.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Textile Care Allied Trades Association Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +67.8% | -3.4% | +14.9% |
| 2022 | -31.7% | +54.5% | -20.4% |
| 2021 | -25.5% | -6.0% | +11.8% |
| 2020 | -73.5% | -48.4% | +23.8% |
| 2019 | +754.4% | +4.1% | +136.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1942 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Textile Care Allied Trades Association Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Textile Care Allied Trades Association Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $148K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
Executive compensation details are not explicitly provided in the summary data, making a direct assessment of specific dollar amounts impossible without further filing review.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Textile Care Allied Trades Association Inc's IRS 990 filings:
- Revenue has been highly inconsistent, ranging from $2,127,945 in 2019 to $249,050 in 2018, indicating potential instability in funding streams.
- The provided data does not include a clear breakdown of program vs. administrative vs. fundraising expenses, requiring estimation for the spending breakdown.
Strengths
The following positive indicators were identified for Textile Care Allied Trades Association Inc:
- Consistently strong asset growth, reaching $4,307,002 in 2023, suggests good financial management and stability.
- The organization has maintained a low liability level, with $11,300 in 2023, indicating sound financial health.
- Consistent filing of financial documents (Form 990s) demonstrates a commitment to regulatory compliance.
Frequently Asked Questions about Textile Care Allied Trades Association Inc
Is Textile Care Allied Trades Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Textile Care Allied Trades Association Inc (EIN: 221640156) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Textile Care Allied Trades Association Inc spend its money?
Textile Care Allied Trades Association Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Textile Care Allied Trades Association Inc tax-deductible?
Textile Care Allied Trades Association Inc is registered as a tax-exempt nonprofit (EIN: 221640156). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Textile Care Allied Trades Association Inc do?
Textile Care Allied Trades Association Inc is a nonprofit organization in the Unknown sector, located in Indian Trail, North Carolina. It is classified under NTEE code Unknown.
How much revenue does Textile Care Allied Trades Association Inc have?
Textile Care Allied Trades Association Inc reported total revenue of $917,747. Based on 13 IRS 990 filings on record.
What are Textile Care Allied Trades Association Inc's total assets?
Textile Care Allied Trades Association Inc holds total assets of $4,307,002 as reported in IRS 990 filings.
Where is Textile Care Allied Trades Association Inc located?
Textile Care Allied Trades Association Inc is based in Indian Trail, North Carolina.
What is Textile Care Allied Trades Association Inc's EIN?
Textile Care Allied Trades Association Inc's Employer Identification Number (EIN) is 221640156. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Textile Care Allied Trades Association Inc?
Textile Care Allied Trades Association Inc is classified under NTEE code Unknown (Unknown).
Is Textile Care Allied Trades Association Inc a registered 501(c)(3)?
Textile Care Allied Trades Association Inc appears in IRS records (EIN: 221640156). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Textile Care Allied Trades Association Inc file IRS Form 990?
Yes, Textile Care Allied Trades Association Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Textile Care Allied Trades Association Inc's revenue in 2023?
In the 202312 filing period, Textile Care Allied Trades Association Inc reported total revenue of $482,331, total expenses of $333,966, and net assets of $3,972,980.
Is Textile Care Allied Trades Association Inc's revenue growing or declining?
Textile Care Allied Trades Association Inc's revenue is growing. Revenue went from $287,385 (202212) to $482,331 (202312), a +67.8% change. Based on 13 filings on record.
What is Textile Care Allied Trades Association Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Textile Care Allied Trades Association Inc covers tax period 202312. It shows revenue of $482,331, expenses of $333,966, total assets of $3,972,980, and liabilities of $11,300.
How much does Textile Care Allied Trades Association Inc spend on programs vs administration?
Based on IRS 990 analysis, Textile Care Allied Trades Association Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Textile Care Allied Trades Association Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Textile Care Allied Trades Association Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Textile Care Allied Trades Association Inc?
The following concerns were identified: Revenue has been highly inconsistent, ranging from $2,127,945 in 2019 to $249,050 in 2018, indicating potential instability in funding streams.. The provided data does not include a clear breakdown of program vs. administrative vs. fundraising expenses, requiring estimation for the spending breakdown.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Textile Care Allied Trades Association Inc's strengths?
Positive indicators for Textile Care Allied Trades Association Inc include: Consistently strong asset growth, reaching $4,307,002 in 2023, suggests good financial management and stability.. The organization has maintained a low liability level, with $11,300 in 2023, indicating sound financial health.. Consistent filing of financial documents (Form 990s) demonstrates a commitment to regulatory compliance.. These findings are derived from AI analysis of the organization's financial filings.
How does Textile Care Allied Trades Association Inc compensate executives?
Executive compensation details are not explicitly provided in the summary data, making a direct assessment of specific dollar amounts impossible without further filing review. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Textile Care Allied Trades Association Inc?
• Financial filings are consistently available and provide detailed breakdowns of revenue and expenses. • The organization's Form 990s are publicly accessible, offering insight into operational activities. • No specific transparency report or dedicated section on their website was immediately apparent. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the significant fluctuations in revenue, what strategies does the Textile Care Allied Trades Association Inc employ to maintain its substantial asset base?
Despite revenue volatility, the organization has consistently grown its assets, suggesting effective investment strategies or significant non-revenue contributions that are not detailed in the provided data. Further investigation into investment income or large one-time donations would be necessary.
How does the organization manage its operational expenses to remain relatively stable (e.g., $333,966 in 2023, $345,724 in 2022) amidst such varied revenue streams?
The stability of expenses despite revenue swings implies a lean operational structure or a strong ability to adjust spending based on available funds, potentially through flexible program delivery or administrative cost controls.
Filing History
IRS 990 filing history for Textile Care Allied Trades Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Textile Care Allied Trades Association Inc's revenue has declined by 6.5%, moving from $516K to $482K. Total assets increased by 353.5% over the same period, from $876K to $4.0M. Total functional expenses fell by 12.9%, from $383K to $334K. In its most recent filing year (2023), Textile Care Allied Trades Association Inc reported a surplus of $148K, with revenue exceeding expenses. The organization holds $11K in liabilities against $4.0M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $4.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $482K | $334K | $4.0M | $11K | — | — |
| 2022 | $287K | $346K | $3.5M | $11K | — | — |
| 2021 | $421K | $224K | $4.3M | $13K | — | View 990 |
| 2020 | $565K | $238K | $3.9M | $7K | — | View 990 |
| 2019 | $2.1M | $462K | $3.1M | $34K | — | — |
| 2018 | $249K | $444K | $1.3M | $39K | — | View 990 |
| 2017 | $762K | $440K | $1.7M | $39K | — | — |
| 2016 | $416K | $443K | $1.3M | $51K | — | View 990 |
| 2015 | $671K | $420K | $1.3M | $83K | — | View 990 |
| 2014 | $420K | $446K | $1.1M | $84K | — | View 990 |
| 2013 | $669K | $394K | $1.1M | $25K | — | View 990 |
| 2012 | $319K | $386K | $809K | $37K | — | View 990 |
| 2011 | $516K | $383K | $876K | $76K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $482K, expenses of $334K, and assets of $4.0M (revenue +67.8% year-over-year).
- 2022: Revenue of $287K, expenses of $346K, and assets of $3.5M (revenue -31.7% year-over-year).
- 2021: Revenue of $421K, expenses of $224K, and assets of $4.3M (revenue -25.5% year-over-year).
- 2020: Revenue of $565K, expenses of $238K, and assets of $3.9M (revenue -73.5% year-over-year).
- 2019: Revenue of $2.1M, expenses of $462K, and assets of $3.1M (revenue +754.4% year-over-year).
- 2018: Revenue of $249K, expenses of $444K, and assets of $1.3M (revenue -67.3% year-over-year).
- 2017: Revenue of $762K, expenses of $440K, and assets of $1.7M (revenue +83.3% year-over-year).
- 2016: Revenue of $416K, expenses of $443K, and assets of $1.3M (revenue -38.0% year-over-year).
- 2015: Revenue of $671K, expenses of $420K, and assets of $1.3M (revenue +59.6% year-over-year).
- 2014: Revenue of $420K, expenses of $446K, and assets of $1.1M (revenue -37.2% year-over-year).
- 2013: Revenue of $669K, expenses of $394K, and assets of $1.1M (revenue +109.9% year-over-year).
- 2012: Revenue of $319K, expenses of $386K, and assets of $809K (revenue -38.2% year-over-year).
- 2011: Revenue of $516K, expenses of $383K, and assets of $876K.
Data Sources and Methodology
This transparency report for Textile Care Allied Trades Association Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.