Overview
What is Textile Exchange?
Textile Exchange is a nonprofit organization based in Lamesa, Texas, with an address at 511 South 1st Street. Their mission is to inspire and equip people worldwide to adopt sustainable practices within the textile industry. Through extensive discussions with farmer organizations, production companies, and other industry players in over a dozen countries, Textile Exchange aims to minimize the harmful impacts and maximize positive effects of the textile industry. Their team consists of 49 employees.
Official website here: www.textileexchange.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Textile Exchange has received a high rating of 96% from Charity Navigator, which reflects its strong commitment to accountability and financial management. The organization boasts a perfect score in several key areas, including having an entirely independent board and a robust oversight committee. Its financial health is indicated by a low liabilities to assets ratio and a high program expense ratio, showing that a significant portion of its budget is directed towards fulfilling its mission.
Strengths of Textile Exchange include its strong governance practices, with comprehensive policies in place for conflict of interest, whistleblower protections, and document retention. The organization is transparent about its operations, as evidenced by the availability of board meeting minutes and accurate financial statements. These factors contribute to its positive reputation and trustworthiness among donors and stakeholders.
While the available data highlights many strengths, potential limitations are not explicitly mentioned in the available information. However, organizations like Textile Exchange may always face challenges in program impact measurement and outreach effectiveness, which are common considerations for nonprofits in the sector. Overall, the positive ratings indicate a well-managed organization that is dedicated to its goals.
This AI summary has been generated from information found on Charity Navigator.
Is Textile Exchange legitimate?
Textile Exchange is a legitimate nonprofit organization registered as a 501(c)(3) entity. Textile Exchange 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,121,225
For more financial information, click here
Official website here: www.textileexchange.org
What is the mission statement of Textile Exchange?
Textile Exchange is dedicated to inspiring and equipping people to adopt sustainable practices within the textile industry. Their mission is to minimize the harmful impacts and maximize positive effects of textile production for all involved worldwide. Through meetings with various players including farmer organizations and production companies in numerous countries, they aim to identify and address environmental, social, and economic challenges within the industry.
Official website here: www.textileexchange.org
Who is the CEO of Textile Exchange?
Claire Bergkamp is the CEO of Textile Exchange The CEO's salary of Textile Exchange is $0 and their total compensation is $0.
Official website here: www.textileexchange.org
What is the revenue of Textile Exchange?
Textile Exchange's revenue in 2023 was $24,104,258.
Official website here: www.textileexchange.org
Who are the executives of Textile Exchange and what are their salaries?
The average compensation at Textile Exchange during 2023 was $118,457. There are 77 employees at Textile Exchange.
Here are 20 key members and their salaries (Textile Exchange's CEO's salary is $0 and their total compensation is $0):
- Compensation: $452,249
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- Compensation: $250,887
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- Compensation: $220,816
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- Compensation: $201,117
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- Compensation: $196,339
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Official website here: www.textileexchange.org
Where can I find the form 990 for Textile Exchange?
Textile Exchange's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.textileexchange.org
Learn more at the official website: www.textileexchange.org
Mission Statement of Textile Exchange
Textile Exchange is a pioneering organization dedicated to inspiring and equipping individuals to adopt sustainable practices within the textile industry. Their mission is twofold: minimizing the harmful impacts and maximizing the positive effects of textile production for all involved worldwide.
Throughout their work, Textile Exchange aims to boost the social, environmental, and economic benefits of textile manufacturing on a global scale. They have reached out to various stakeholders, including farmer organizations, production companies, and other industry players, in more than a dozen countries for in-depth discussions on the challenges they face in terms of environmental, social, and economic sustainability. By fostering collaborations and knowledge-sharing, Textile Exchange seeks to create a more sustainable and equitable textile industry for all.
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Impact
October, 2024
Textile Exchange significantly impacts the textile industry by inspiring and equipping stakeholders to adopt sustainable practices, thereby minimizing harmful effects and maximizing positive contributions. Through extensive collaboration with farmer organizations, production companies, and various industry players across more than a dozen countries, they identify and address environmental, social, and economic challenges faced by these communities. Their efforts aim to enhance the overall benefits of textile production on a global scale, fostering improvements in social conditions, environmental stewardship, and economic viability for all involved. This comprehensive approach not only supports sustainable development within the textile sector but also contributes to a more responsible and equitable industry.
This information is meant to be a general summary of Textile Exchange. 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 2023.
- Investment Income: $202,609
- Program Service Revenue: $2,387,798
- Gross Receipts: $27,986,377
Assets and Liabilities:
- Total Assets: $16,460,908
- Total Liabilities: $1,848,774
- Net Assets: $14,612,134
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONFERENCE FEES
Revenue
$2,387,798
Organization Details
Founding Year
2003
Principal Officer
Lee Martin
Website
www.textileexchange.orgNTEE Category
Code: K20 - Food
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