Overview
What is North Carolina Textile Foundation Inc?
North Carolina Textile Foundation Inc is a charitable organization based in Raleigh, North Carolina, primarily focused on supporting the Wilson College of Textiles at North Carolina State University. Through grants, they contribute to enhancing facilities, faculty, fellowships, scholarships, and equipment for the college. Their mission is to foster engagement, partnership, and philanthropy, aiming to advance the college's standing. The foundation provides funds for deserving students, supports the recruitment and retention of highly qualified educators and researchers, and assists in acquiring and maintaining state-of-the-art equipment and facilities for research and education. Overall, North Carolina Textile Foundation Inc plays an essential role in bolstering the Wilson College of Textiles at North Carolina State University.
Official website here: www.see schedule o
What are the reviews and ratings of this charity?
Charity Navigator Rating: 98% (Four-Star out of Four Stars)
The North Carolina Textile Foundation Inc has earned an impressive Four-Star rating from Charity Navigator, indicating exceptional performance in accountability and finance. The organization has a perfect score in several key areas, showcasing its commitment to transparency and responsible financial management. With an overall score derived solely from its accountability and finance metrics, the foundation demonstrates a strong level of integrity in its operations.
Strengths of the North Carolina Textile Foundation include a highly independent board, with 94% of its members being independent, and a robust financial oversight framework that includes an audit and oversight committee. They have also established comprehensive policies such as conflict of interest and whistleblower protections, ensuring ethical practices within the organization. Furthermore, the foundation maintains a healthy liabilities to assets ratio and allocates a significant portion of its budget towards program expenses, reflecting its mission-driven focus.
While the organization appears to excel in financial accountability, potential limitations were not explicitly noted in the data. However, as with any nonprofit, continued attention to both programmatic impact and community engagement will be critical to sustaining its success and further enhancing its reputation in the sector.
This AI summary has been generated from information found on Charity Navigator.
Is North Carolina Textile Foundation Inc legitimate?
North Carolina Textile Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Carolina Textile Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $781,978
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Official website here: www.see schedule o
What is the mission statement of North Carolina Textile Foundation Inc?
The North Carolina Textile Foundation Inc's mission is centered around supporting the Wilson College of Textiles. This is achieved through engagement, partnerships, and philanthropy. As a charitable organization, the foundation provides financial assistance to deserving undergraduate and graduate students, contributes to the recruitment and retention of qualified educators and researchers, and aids in the placement of college graduates. Additionally, the foundation assists in acquiring and maintaining state-of-the-art research and educational equipment.
Official website here: www.see schedule o
What is the revenue of North Carolina Textile Foundation Inc?
North Carolina Textile Foundation Inc's revenue in 2024 was $6,908,763.
Official website here: www.see schedule o
Who are the executives of North Carolina Textile Foundation Inc and what are their salaries?
There 19 volunteers at North Carolina Textile Foundation Inc.
Here are 22 key members and their salaries:
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- Related: $279,586
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- Related: $188,285
- Other: $53,735
Official website here: www.see schedule o
Where can I find the form 990 for North Carolina Textile Foundation Inc?
North Carolina Textile Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.see schedule o
Learn more at the official website: www.see schedule o
Mission Statement of North Carolina Textile Foundation Inc
The North Carolina Textile Foundation Inc, as a charitable organization, is committed to advancing the Wilson College of Textiles by fostering engagement, partnerships, and philanthropy. The mission of this foundation is to provide support to the college and its dean, with the aim of enhancing various aspects of its operations. This support can take various forms, including providing funds for scholarships for deserving undergraduate and graduate students, recruiting and retaining highly qualified students, educators, and researchers, and aiding in the placement of graduates. Additionally, the foundation ensures the acquisition and maintenance of state-of-the-art equipment and facilities for research and education, thereby contributing to the college's overall growth and development.
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Impact
July, 2024
North Carolina Textile Foundation Inc's impact is significant in advancing Wilson College of Textiles through engagement, partnership, and philanthropy. The foundation provides crucial support to the college at North Carolina State University by offering grants for facilities, faculty, fellowships, scholarships, and equipment. This support helps in enhancing the education and research opportunities for students, educators, and researchers in the field of textiles. Additionally, the foundation plays a key role in recruiting and retaining highly qualified individuals, as well as supporting the placement of graduates in the industry. Its mission to advance the college through charitable efforts underscores its commitment to ensuring the success and growth of the textile education sector.
This information is meant to be a general summary of North Carolina Textile Foundation 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 2024.
- Investment Income: $593,317
- Program Service Revenue: $15,921
- Gross Receipts: $9,309,289
Assets and Liabilities:
- Total Assets: $84,202,750
- Total Liabilities: $463,490
- Net Assets: $83,739,260
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SCHOLARSHIP & ENRICHMENT REPAYMEN
Revenue
$15,921
Organization Details
Founding Year
1942
Principal Officer
Erin Delehanty
Website
www.see schedule oNTEE Category
Code: B11 - Education
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