Overview
What is Accelerating Circularity Inc?
Accelerating Circularity Inc is a nonprofit organization, established to address the environmental challenges posed by the textile industry. Based in Campbell Hall, New York, the organization operates with a team of eight individuals. Their mission is to revolutionize textile supply chains, moving away from the traditional linear model towards a circular one, thereby minimizing textile waste and contributing positively to the environment. They strive to establish systems that can repurpose the inherent value and resources within existing textiles, transforming them into new products, thus reducing the vast amounts of textile waste that currently end up in landfills. This innovative approach is expected to help decrease the industry's greenhouse gas emissions significantly. The organization's activities also involve charitable, educational, and scientific endeavors aimed at achieving these goals.
Official website here: www.acceleratingcircularity.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
Accelerating Circularity Inc has earned a solid Three-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The organization boasts an impressive program expense ratio of 75.38%, indicating that a significant portion of its resources is directed toward its mission. Additionally, it has a fully independent board, with 85% of its members being independent, which enhances its governance structure.
While the nonprofit has many strengths, including well-audited financial statements and a lack of material diversion of assets, it does have some areas that need improvement. Notably, it lacks a whistleblower policy and a document retention and destruction policy, which could affect its overall transparency and accountability. Addressing these issues could enhance its reputation as a responsible and ethical organization.
Overall, Accelerating Circularity Inc demonstrates a strong financial performance and governance, but it could benefit from refining its policies to further solidify trust among donors and stakeholders. This balanced approach could enhance its ability to achieve its mission more effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Accelerating Circularity Inc legitimate?
Accelerating Circularity Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Accelerating Circularity 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: $346,681
For more financial information, click here
Official website here: www.acceleratingcircularity.org
What is the mission statement of Accelerating Circularity Inc?
Accelerating Circularity Inc's mission is centered around transforming the textile industry for the betterment of the environment. Specifically, the organization aims to establish systems that utilize the embedded value and resources in existing textiles for new products, thereby reducing the millions of tons of textile waste annually that ends up in landfills. This initiative is expected to support a reduction in the industry's greenhouse gas emissions. As reported, the expenses incurred by the organization have been directed towards achieving this circular transformation of textile supply chains.
Official website here: www.acceleratingcircularity.org
Who is the CEO of Accelerating Circularity Inc?
Karla Magruder is the President of Accelerating Circularity Inc.
Official website here: www.acceleratingcircularity.org
What is the revenue of Accelerating Circularity Inc?
Accelerating Circularity Inc's revenue in 2022 was $1,085,091.
Official website here: www.acceleratingcircularity.org
Who are the executives of Accelerating Circularity Inc and what are their salaries?
The average compensation at Accelerating Circularity Inc during 2022 was $43,335. There are 8 employees at Accelerating Circularity Inc.
Here are 7 key members and their salaries:
- Compensation: $150,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.acceleratingcircularity.org
Where can I find the form 990 for Accelerating Circularity Inc?
Accelerating Circularity Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.acceleratingcircularity.org
Learn more at the official website: www.acceleratingcircularity.org
Mission Statement of Accelerating Circularity Inc
Accelerating Circularity Inc, a charitable organization, is dedicated to the transformation of textile supply chains from linear to circular. Their ultimate goal is to create systems that can utilize the embedded value and resources in existing textiles for new products, thus significantly reducing the millions of tons of textile waste that annually end up in landfills. By adopting a circular approach, this nonprofit aims to support the reduction of the textile industry's greenhouse gas emissions, contributing positively to the environment. In essence, Accelerating Circularity Inc is working tirelessly to establish a sustainable textile economy, one that values resource conservation and the reuse of materials, thereby minimizing waste and promoting a greener future.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
June, 2024
Accelerating Circularity Inc is making a significant impact by transforming textile supply chains from linear to circular, thus reducing textile waste and helping the environment. They are establishing systems that utilize the embedded value and resources in existing textiles for new products, effectively reducing the millions of tons of textile waste that end up in landfills each year. This initiative not only supports the reduction of greenhouse gas emissions in the industry but also promotes sustainable practices in the textile sector.
This information is meant to be a general summary of Accelerating Circularity 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: $50
- Program Service Revenue: $831,044
- Gross Receipts: $1,085,091
Assets and Liabilities:
- Total Assets: $1,850,579
- Total Liabilities: $45,000
- Net Assets: $1,805,579
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEES
Revenue
$663,577
CONSULTING FEES
Revenue
$167,467
Organization Details
Founding Year
2019
Phone
(917) 410-3188Principal Officer
Karla Magruder
Main Address
32 BRIAR BROOK LANE, CAMPBELL HALL, NY, 10916
NTEE Category
Code: C05 - Environment
If you are a representative of Accelerating Circularity Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.