Overview
What is Transformers Foundation Inc?
Transformers Foundation Inc, based in New York, NY, is a nonprofit organization committed to educating students about the denim supply chain. They collaborate with educational institutions and industry professionals to conduct a conference series, teaching students about the denim production process from fiber to finished garment. These events are tailored to the audience and offered globally in various languages, with each session added to a learning hub for reference. The foundation serves as a unified voice for the denim industry, advocating for positive change and sustainable innovation. They represent all aspects of the denim supply chain, from farmers and chemical suppliers to denim mills. Their mission is to drive sustainable performance by sharing best practices, encouraging transparency, challenging misleading marketing, and celebrating innovation in the industry.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 48%
Transformers Foundation Inc has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization has a notably low score of 0% for both majority independent board members and independent board size, which raises questions about governance and oversight.
While the foundation does show a good liability to assets ratio of 19.28% and a program expense ratio of 66.29%, it lacks essential policies such as a conflict of interest policy, whistleblower policy, and document retention policy. Additionally, its website does not include key documents like the tax form, which is a requirement for transparency.
Overall, the lack of independent oversight and missing governance policies overshadow the organization's operational metrics. Prospective donors may want to consider these factors before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is Transformers Foundation Inc legitimate?
Transformers Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Transformers 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: $0
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What is the mission statement of Transformers Foundation Inc?
The Transformers Foundation Inc aims to serve as a unified voice for the denim industry, promoting ethical changes and sustainable innovation. Its mission is to drive advancements in sustainable performance by sharing best practices, encouraging progress, and challenging misleading or unsubstantiated marketing claims. The organization also acts as a central point of contact for consumers, brands, NGOs, and media seeking to learn more about the industry's ethics and sustainability efforts.
In addition, the Transformers Foundation collaborates with educational institutions and industry professionals to provide a conference series, educating students about the denim supply chain, from fiber to finished garment processing. Each conference series is tailored to the student audience and is delivered globally in several languages, with the resources added to a learning hub for future reference. Each segment of the supply chain is presented by a professional who donates their time to teach global students.
Who is the CEO of Transformers Foundation Inc?
Emily Olah is the Director of Transformers Foundation Inc.
What is the revenue of Transformers Foundation Inc?
Transformers Foundation Inc's revenue in 2022 was $299,000.
Who are the executives of Transformers Foundation Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Transformers Foundation Inc?
Transformers Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Transformers Foundation Inc
The Transformers Foundation, a united voice for the denim industry, was established to provide a platform for positive change within the sector. By acting as a central point of contact, the Foundation bridges the gap between consumers, brands, NGOs, and media who seek to understand ethics and sustainable innovation in the industry.
At its core, the Transformers Foundation strives to move the needle on sustainable performance. It achieves this by openly sharing best practices, encouraging and giving visibility to sustainable progress, challenging ambiguous, non-solid marketing or claims, and transparently celebrating best-in-class and innovation.
In its mission to promote education, the Foundation collaborates with educational institutions and the industry to organize a conference series. These events are tailored to the audience of students, focusing on each area of the denim supply chain, from fiber through to finish garment processing. Each session is presented by a professional generously donating their time to teach global students. These events are then added to the Foundation's Learning Hub for future reference resources.
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Impact
June, 2024
Transformers Foundation Inc's impact lies in its role as the unified voice representing the denim industry and its ideas for positive change. By providing a platform for the denim supply chain, including farmers, chemical suppliers, denim mills, brands, consumers, NGOs, and media, it promotes ethics and sustainable innovation within the industry. Through its educational initiatives, such as conference series and tailored events globally in multiple languages, Transformers Foundation educates students about the denim supply chain from fiber to finished garment processing. Their mission to move the needle on sustainable performance by sharing best practices, supporting progress, and challenging unclear marketing claims contributes significantly to promoting sustainability within the industry.
This information is meant to be a general summary of Transformers 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 2022.
- Gross Receipts: $299,000
Assets and Liabilities:
- Total Assets: $187,827
- Total Liabilities: $36,230
- Net Assets: $151,597
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Organization Details
Founding Year
2019
Phone
(212) 260-9266Principal Officer
Emily Olah
Main Address
833 BROADWAY 5TH FL, NEW YORK, NY, 10003
NTEE Category
Code: C30 - Environment
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