Textile Center Of Minnesota
EIN: 411790700 · Minneapolis, MN · NTEE: B99
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $1.3M |
| Net Assets | $2.1M |
Is Textile Center Of Minnesota Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Textile Center Of Minnesota
Textile Center Of Minnesota (EIN: 411790700) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code B99. The organization reported total revenue of $1.2M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Textile Center Of Minnesota's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Textile Center Of Minnesota is a mid-size nonprofit that has been operating for 31 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.3M |
| Surplus / Deficit | +$23K |
| Total Assets | $2.5M |
| Total Liabilities | $395K |
| Net Assets | $2.1M |
| Operating Margin | 1.8% |
| Debt-to-Asset Ratio | 15.8% |
| Months of Reserves | 23.8 months |
Financial Health Grade: A
In 2024, Textile Center Of Minnesota reported a surplus of $23K with revenue exceeding expenses, holds 23.8 months of operating reserves (strong position), has a debt-to-asset ratio of 15.8% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Textile Center Of Minnesota's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +10.3% | +20.4% | +2.6% |
| 2023 | +9.5% | +5.5% | +4.1% |
| 2022 | +32.8% | +9.8% | -5.4% |
| 2021 | -37.9% | -18.6% | +7.8% |
| 2020 | +28.2% | +14.6% | +5.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Textile Center Of Minnesota has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Textile Center Of Minnesota with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $23K, with revenue exceeding expenses.
- Debt-to-asset ratio: 15.8%.
Frequently Asked Questions about Textile Center Of Minnesota
Is Textile Center Of Minnesota a legitimate charity?
Textile Center Of Minnesota (EIN: 411790700) is a registered tax-exempt nonprofit based in Minnesota. It has 13 years of IRS 990 filings on record. Total revenue: $1.2M. No red flags identified. Financial health grade: A.
How does Textile Center Of Minnesota spend its money?
Textile Center Of Minnesota reported $1.2M in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Textile Center Of Minnesota tax-deductible?
Textile Center Of Minnesota is registered as a tax-exempt nonprofit (EIN: 411790700). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Textile Center Of Minnesota located?
Textile Center Of Minnesota is headquartered in Minneapolis, Minnesota and files with the IRS under EIN 411790700. It is classified under NTEE code B99.
How many years of IRS 990 filings does Textile Center Of Minnesota have?
Textile Center Of Minnesota has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.2M in total revenue.
Filing History
IRS 990 filing history for Textile Center Of Minnesota showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Textile Center Of Minnesota's revenue has grown by 35.2%, moving from $952K to $1.3M. Total assets increased by 11.3% over the same period, from $2.3M to $2.5M. Total functional expenses rose by 52.6%, from $829K to $1.3M. In its most recent filing year (2024), Textile Center Of Minnesota reported a surplus of $23K, with revenue exceeding expenses. The organization holds $395K in liabilities against $2.5M in assets (debt-to-asset ratio: 15.8%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.3M | $1.3M | $2.5M | $395K | — | View 990 |
| 2023 | $1.2M | $1.1M | $2.4M | $402K | — | — |
| 2022 | $1.1M | $995K | $2.3M | $378K | — | View 990 |
| 2021 | $802K | $907K | $2.5M | $599K | — | — |
| 2020 | $1.3M | $1.1M | $2.3M | $459K | — | View 990 |
| 2019 | $1.0M | $971K | $2.2M | $471K | — | View 990 |
| 2018 | $826K | $939K | $2.1M | $449K | — | — |
| 2017 | $876K | $846K | $1.9M | $118K | — | View 990 |
| 2016 | $852K | $855K | $1.8M | $120K | — | View 990 |
| 2015 | $685K | $762K | $1.8M | $97K | — | View 990 |
| 2014 | $511K | $798K | $1.9M | $105K | — | View 990 |
| 2013 | $611K | $797K | $2.1M | $48K | — | View 990 |
| 2012 | $952K | $829K | $2.3M | $42K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.3M, expenses of $1.3M, and assets of $2.5M (revenue +10.3% year-over-year).
- 2023: Revenue of $1.2M, expenses of $1.1M, and assets of $2.4M (revenue +9.5% year-over-year).
- 2022: Revenue of $1.1M, expenses of $995K, and assets of $2.3M (revenue +32.8% year-over-year).
- 2021: Revenue of $802K, expenses of $907K, and assets of $2.5M (revenue -37.9% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.1M, and assets of $2.3M (revenue +28.2% year-over-year).
- 2019: Revenue of $1.0M, expenses of $971K, and assets of $2.2M (revenue +22.0% year-over-year).
- 2018: Revenue of $826K, expenses of $939K, and assets of $2.1M (revenue -5.8% year-over-year).
- 2017: Revenue of $876K, expenses of $846K, and assets of $1.9M (revenue +2.8% year-over-year).
- 2016: Revenue of $852K, expenses of $855K, and assets of $1.8M (revenue +24.4% year-over-year).
- 2015: Revenue of $685K, expenses of $762K, and assets of $1.8M (revenue +34.1% year-over-year).
- 2014: Revenue of $511K, expenses of $798K, and assets of $1.9M (revenue -16.4% year-over-year).
- 2013: Revenue of $611K, expenses of $797K, and assets of $2.1M (revenue -35.8% year-over-year).
- 2012: Revenue of $952K, expenses of $829K, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Textile Center Of Minnesota:
Data Sources and Methodology
This transparency report for Textile Center Of Minnesota 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.