Textile Research Institute
Textile Research Institute experiences significant deficit in 2023 despite long-term revenue and asset growth.
EIN: 210647231 · Princeton, NJ · NTEE: U30Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.2M |
| Total Expenses | $7.6M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $2.4M |
| Transparency Score | 75/100 |
Is Textile Research Institute Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Textile Research Institute directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Textile Research Institute
Textile Research Institute (EIN: 210647231) is a nonprofit organization based in Princeton, NJ, classified under NTEE code U30Z. The organization reported total revenue of $7.2M and total assets of $4.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Textile Research Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Textile Research Institute is a mid-size nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.2M |
| Total Expenses | $7.6M |
| Surplus / Deficit | $-1,421,687 |
| Total Assets | $5.8M |
| Total Liabilities | $3.5M |
| Net Assets | $2.4M |
| Operating Margin | -23.1% |
| Debt-to-Asset Ratio | 59.1% |
| Months of Reserves | 9.3 months |
Financial Health Grade: C
In 2023, Textile Research Institute reported a deficit of $1.4M with expenses exceeding revenue, holds 9.3 months of operating reserves (strong position), has a debt-to-asset ratio of 59.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Textile Research Institute's revenue has grown at a compound annual growth rate (CAGR) of 9.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.6% | +54.0% | +0.9% |
| 2022 | +16.1% | +17.5% | +48.6% |
| 2021 | +23.0% | +21.3% | +38.4% |
| 2020 | +29.9% | +10.4% | +59.5% |
| 2019 | -5.2% | -4.3% | +13.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 8000 |
| IRS Ruling Date | 1964 |
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 Research Institute 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Textile Research Institute allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. 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 deficit of $1.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 59.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation directly from the organization, which is highly commendable for a nonprofit of its size with revenues exceeding $6 million.
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 Research Institute's IRS 990 filings:
- Significant deficit in 2023 ($1,421,687) where expenses ($7,576,226) substantially exceeded revenue ($6,154,539).
- Substantial increase in liabilities in 2023 to $3,453,542, up from $2,075,947 in 2022, which could indicate new financial obligations.
Strengths
The following positive indicators were identified for Textile Research Institute:
- Consistent long-term revenue growth, increasing from $2,012,748 in 2014 to $6,154,539 in 2023.
- Strong asset growth, from $1,826,871 in 2014 to $5,841,244 in 2023, indicating increasing financial capacity.
- Excellent transparency regarding executive compensation, with 0% reported for officers across all filings.
- Consistent filing of IRS Form 990s for 13 periods, demonstrating commitment to public disclosure.
Frequently Asked Questions about Textile Research Institute
Is Textile Research Institute a legitimate charity?
Textile Research Institute (EIN: 210647231) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $7.2M. 2 red flags identified. 4 strengths noted. Financial health grade: C.
How does Textile Research Institute spend its money?
Textile Research Institute directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Textile Research Institute tax-deductible?
Textile Research Institute is registered as a tax-exempt nonprofit (EIN: 210647231). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Textile Research Institute CEO make?
Textile Research Institute's highest-compensated officer earns $6 annually. The organization reported $7.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Textile Research Institute's spending goes to programs?
Textile Research Institute directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Textile Research Institute compare to similar nonprofits?
With a transparency score of 75/100 (Good), Textile Research Institute is above average for NTEE category U30Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Textile Research Institute located?
Textile Research Institute is headquartered in Princeton, New Jersey and files with the IRS under EIN 210647231. It is classified under NTEE code U30Z.
How many years of IRS 990 filings does Textile Research Institute have?
Textile Research Institute 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 $7.2M in total revenue.
Why did expenses significantly exceed revenue in 2023?
In 2023, the organization reported expenses of $7,576,226 against revenues of $6,154,539, resulting in a deficit. This is a notable deviation from prior years where revenue generally covered expenses. Further investigation into the nature of these increased expenses would be beneficial.
What caused the substantial increase in liabilities in 2023?
Liabilities increased from $2,075,947 in 2022 to $3,453,542 in 2023. Understanding the components of this increase, such as new debt, deferred revenue, or other obligations, is important for assessing financial risk.
How does the organization sustain operations with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that leadership may be volunteer-based, compensated through an affiliated entity, or that compensation is categorized differently. This practice, while positive for direct mission spending, warrants understanding of the operational model.
Filing History
IRS 990 filing history for Textile Research Institute showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Textile Research Institute's revenue has grown by 211.1%, moving from $2.0M to $6.2M. Total assets increased by 274.8% over the same period, from $1.6M to $5.8M. Total functional expenses rose by 216.4%, from $2.4M to $7.6M. In its most recent filing year (2023), Textile Research Institute reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $3.5M in liabilities against $5.8M in assets (debt-to-asset ratio: 59.1%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.2M | $7.6M | $5.8M | $3.5M | — | — |
| 2022 | $5.9M | $4.9M | $5.8M | $2.1M | — | — |
| 2021 | $5.1M | $4.2M | $3.9M | $1.1M | — | View 990 |
| 2020 | $4.2M | $3.5M | $2.8M | $958K | — | — |
| 2019 | $3.2M | $3.1M | $1.8M | $615K | — | View 990 |
| 2018 | $3.4M | $3.3M | $1.6M | $486K | — | View 990 |
| 2017 | $2.5M | $2.6M | $1.4M | $424K | — | View 990 |
| 2016 | $2.7M | $2.8M | $1.5M | $466K | — | View 990 |
| 2015 | $2.4M | $2.6M | $1.7M | $547K | — | View 990 |
| 2014 | $2.0M | $2.0M | $1.8M | $400K | — | View 990 |
| 2013 | $2.0M | $2.0M | $1.9M | $559K | — | View 990 |
| 2012 | $2.3M | $2.2M | $1.8M | $546K | — | View 990 |
| 2011 | $2.0M | $2.4M | $1.6M | $592K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.2M, expenses of $7.6M, and assets of $5.8M (revenue +3.6% year-over-year).
- 2022: Revenue of $5.9M, expenses of $4.9M, and assets of $5.8M (revenue +16.1% year-over-year).
- 2021: Revenue of $5.1M, expenses of $4.2M, and assets of $3.9M (revenue +23.0% year-over-year).
- 2020: Revenue of $4.2M, expenses of $3.5M, and assets of $2.8M (revenue +29.9% year-over-year).
- 2019: Revenue of $3.2M, expenses of $3.1M, and assets of $1.8M (revenue -5.2% year-over-year).
- 2018: Revenue of $3.4M, expenses of $3.3M, and assets of $1.6M (revenue +35.6% year-over-year).
- 2017: Revenue of $2.5M, expenses of $2.6M, and assets of $1.4M (revenue -8.2% year-over-year).
- 2016: Revenue of $2.7M, expenses of $2.8M, and assets of $1.5M (revenue +10.8% year-over-year).
- 2015: Revenue of $2.4M, expenses of $2.6M, and assets of $1.7M (revenue +21.6% year-over-year).
- 2014: Revenue of $2.0M, expenses of $2.0M, and assets of $1.8M (revenue -0.2% year-over-year).
- 2013: Revenue of $2.0M, expenses of $2.0M, and assets of $1.9M (revenue -13.7% year-over-year).
- 2012: Revenue of $2.3M, expenses of $2.2M, and assets of $1.8M (revenue +18.2% year-over-year).
- 2011: Revenue of $2.0M, expenses of $2.4M, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Textile Research Institute:
Data Sources and Methodology
This transparency report for Textile Research Institute 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.