Resilient Floor Covering Institute
- Assets
- $1.2m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 3
- Location
- Lagrange, GA
- Founding
- 10/1944
- Data as of
- 12/2022
- EIN
- 13-1545959
Organization Overview
Resilient Floor Covering Institute is located in Lagrange, GA. The organization was established in 1944. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2022, Resilient Floor Covering Institute employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Resilient Floor Covering Institute is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Resilient Floor Covering Institute generated $2.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $2.5m during the year ending 12/2022. While expenses have increased by 8.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE LONG-TERM GROWTH AND WELL-BEING OF THE NORTH AMERICAN RESILIENT FLOOR COVERING INDUSTRY. LEVERAGE COLLECTIVE MEMBER RESOURCES TO ADDRESS INDUSTRY ISSUES AND OPPORTUNITIES THAT EXCEED THE SCOPE OF ANY SINGLE MEMBER COMPANY AND OFFER POTENTIAL BENEFIT FOR THE COMMON GOOD OF THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONITORING & RESPONDING TO LEGISLATIVE & REGULATORY ISSUES OF CONCERN TO THE RESILIENT FLOOR COVERING INDUSTRY, & WORKING WITH STANDARD-SETTING BODIES ON MATTERS AFFECTING THE INDUSTRY.
COLLECTING & DISSEMINATING TECHNICAL INFORMATION TO MEMBERS, INCLUDING PUBLICATION OF PERIODIC NEWSLETTER & DEVELOPMENT OF WEBSITE.
CREATING & SPONSORING OF INDUSTRY FORUM INVOLVING APPROXIMATELY 75 PARTICIPANTS TO DISCUSS PRINCIPALLY REGULATORY AND LEGISLATIVE ISSUES OF INTEREST TO THE INDUSTRY.
DEVELOPMENT & DISSEMINATION OF WORK PRACTICES TO APPROXIMATELY 12,000 RETAILERS, INSTALLERS, ETC. OF RESILIENT FLOOR COVERING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Blackstock President | Officer | 40 | $313,325 |
Barron Frith Secretary/tr | OfficerTrustee | 1 | $0 |
Russell Rogg Vice Chair | OfficerTrustee | 1 | $0 |
Herb Upton Chairman | OfficerTrustee | 1 | $0 |
Bill Anderson Director | Trustee | 1 | $0 |
Peter Barretto Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
William H Freeman Consultant | 12/30/18 | $169,931 |
Venable Llp Consultant | 12/30/18 | $351,676 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,761,778 |
| Investment income | $217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,761,995 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $577,358 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $31,945 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $382,100 |
| Fees for services: Accounting | $1,935 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $215,716 |
| Advertising and promotion | $481,004 |
| Office expenses | $6,783 |
| Information technology | $13,777 |
| Royalties | $0 |
| Occupancy | $22,696 |
| Travel | $50,279 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $413,699 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $779 |
| Insurance | $7,401 |
| All other expenses | $72,714 |
| Total functional expenses | $2,483,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $510,683 |
| Savings and temporary cash investments | $500,152 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,633 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79,474 |
| Net Land, buildings, and equipment | $2,988 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,159,930 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,159,930 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,159,930 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For Atlanta Veterans Education And Research Inc Decatur, GA | $10,222,891 | $13,848,947 |
Johnston-Lee-Harnett Community Action Incorporated Smithfield, NC | $2,342,060 | $13,580,773 |
International Society On Thrombosis And Haemostasis Inc Carrboro, NC | $25,182,348 | $9,872,487 |
Roskamp Institute Inc Sarasota, FL | $9,416,640 | $7,403,056 |
Institute For Medical Research Inc Durham, NC | $6,550,784 | $5,925,427 |
Heineman-Robicsek Foundation Inc Charlotte, NC | $7,695,245 | $5,065,349 |
American Peanut Shellers Assoc Inc Albany, GA | $1,751,167 | $3,704,531 |
Associated General Contractors Of Georgia Inc Atlanta, GA | $12,373,819 | $3,538,884 |
Sunrise Community Of Northeast Florida Inc Miami, FL | $4,026,506 | $2,436,293 |
Resilient Floor Covering Institute Lagrange, GA | $1,159,930 | $2,761,995 |
American Cotton Shippers Association Memphis, TN | $7,968,384 | $2,541,367 |
Renu Life Extended Goldsboro, NC | $6,294,449 | $3,251,107 |