Overview
What is The Furniture Trust Organization Inc?
The Furniture Trust Organization Inc is a nonprofit organization based in Arlington, Massachusetts, specifically at 54 Mystic Street, 02474. Their primary mission revolves around promoting environmental responsibility by recycling unwanted office furniture, rather than landfill disposal. They partner with corporations through cooperative agreements, dismantling and transporting the furniture either to other nonprofit organizations, individuals, or corporations, or recycling the raw materials through eco-friendly procedures. The organization educates corporations and institutions about the benefits of recycling, and they recycle used office furniture (gifts-in-kind) by donating some to approximately 30 other nonprofit organizations, selling some, allowing other corporations to re-use the furniture, and recycling any remaining furniture for scrap value. The Furniture Trust Organization Inc aims to have a positive community impact with used office furnishings, providing the most economical and environmentally responsible solutions to local businesses. By decommissioning office furniture assets, they connect donated furniture with local schools and nonprofits, thereby making a significant difference in the community while offering companies of all sizes a proven process for disposing of their unwanted furniture assets in an eco-friendly manner. The organization operates with a dedicated workforce of 5 individuals.
Official website here: www.thefurnituretrust.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Stars)
The Furniture Trust Organization Inc has achieved a Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The organization has a perfect score for its independent board composition and has established effective financial oversight measures, such as an audit committee and policies to prevent conflicts of interest. With an impressive program expense ratio of 98.47%, it demonstrates a commitment to utilizing funds directly for its mission.
User feedback highlights The Furniture Trust as an invaluable partner for numerous nonprofits, with clients praising their responsiveness and quality of service. Many reviews commend the organization for providing high-quality furniture that positively impacts the operational efficiency of client organizations, allowing them to direct more funds toward their core missions. The staff is often noted for being professional, accommodating, and dedicated to supporting community needs.
While the overall financial health looks solid, the working capital ratio of 0.11 years may raise concerns regarding liquidity, suggesting that the organization should be mindful of its short-term financial stability. Nonetheless, the overwhelmingly positive reviews from clients reflect a well-regarded organization that effectively serves its community and enhances the functionality of nonprofits through its support.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is The Furniture Trust Organization Inc legitimate?
The Furniture Trust Organization Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Furniture Trust Organization Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $101,959
Professional Fundraising Fees: $0
Other Salaries and Wages: $121,340
For more financial information, click here
Official website here: www.thefurnituretrust.org
What is the mission statement of The Furniture Trust Organization Inc?
The Furniture Trust Organization Inc's mission is geared towards promoting environmentally friendly practices in office furniture disposal. By educating corporations and institutions, they encourage the recycling of unwanted office furniture, discouraging landfill disposal. The organization recycles donated office furniture by distributing some to approximately 30 other nonprofit organizations, selling some to allow other corporations to reuse, and recycling any remaining furniture for scrap value. Committed to making a positive community impact, The Furniture Trust offers economical and environmentally responsible solutions to businesses of all sizes, providing a proven process for decommissioning that maximizes the value of unwanted furniture assets. Leveraging their sustainable network, the organization connects donated office furniture with local schools and nonprofits.
Official website here: www.thefurnituretrust.org
Who is the CEO of The Furniture Trust Organization Inc?
Stephen Fox is the Director of The Furniture Trust Organization Inc.
Official website here: www.thefurnituretrust.org
What is the revenue of The Furniture Trust Organization Inc?
The Furniture Trust Organization Inc's revenue in 2022 was $5,812,519.
Official website here: www.thefurnituretrust.org
Who are the executives of The Furniture Trust Organization Inc and what are their salaries?
The average compensation at The Furniture Trust Organization Inc during 2022 was $44,660. There are 5 employees at The Furniture Trust Organization Inc.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $101,959
- Related: $0
- Other: $0
Official website here: www.thefurnituretrust.org
Where can I find the form 990 for The Furniture Trust Organization Inc?
The Furniture Trust Organization Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thefurnituretrust.org
Learn more at the official website: www.thefurnituretrust.org
Mission Statement of The Furniture Trust Organization Inc
The Furniture Trust Organization Inc is on a mission to make a positive community impact by recycling unwanted office furniture in an environmentally friendly manner. Instead of throwing away these items in landfills, the organization educates corporations and institutions about the benefits of recycling, promoting a more sustainable approach.
The trust recycles used office furniture through various means. Some of the furniture is donated to approximately 30 other nonprofit organizations, while some is sold to corporations that can reuse them. Any remaining unwanted furniture is recycled for scrap value. By doing so, The Furniture Trust provides a proven process for decommissioning that maximizes the value of unwanted furniture assets for local businesses.
Leveraging its sustainable network, The Furniture Trust connects donated office furniture with local schools and nonprofits. This not only contributes to these organizations' needs but also provides companies of all sizes with an economical and environmentally responsible solution for their unwanted furniture.
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Impact
June, 2024
The Furniture Trust Organization Inc's impact lies in its commitment to environmentally friendly office furniture disposition. By educating corporations and institutions about the benefits of recycling unwanted office furniture instead of sending it to a landfill, the organization actively contributes to the reduction of waste and promotes sustainable practices. The organization recycles used office furniture through donations to other organizations, sales to individuals or corporations, and environmentally responsible recycling procedures. By partnering with corporations through cooperative agreements, The Furniture Trust Organization Inc facilitates the dismantling and transportation of unwanted furniture, maximizing its value and providing economical and environmentally responsible solutions to local businesses. Through this process, the organization makes a positive community impact with used office furnishings, connecting donated items with local schools and organizations while promoting environmental stewardship.
This information is meant to be a general summary of The Furniture Trust Organization Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,113
- Program Service Revenue: $1,411,245
- Gross Receipts: $5,812,519
Assets and Liabilities:
- Total Assets: $838,783
- Total Liabilities: $239,711
- Net Assets: $599,072
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MISCELLANEOUS
Revenue
$800
Organization Details
Founding Year
2008
Phone
(844) 843-8787Principal Officer
Stephen Fox
Main Address
54 MYSTIC STREET, ARLINGTON, MA, 02474
Website
www.thefurnituretrust.orgNTEE Category
Code: C27 - Environment
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