Furniture Trust Organization Inc
- Assets
- $838.8k
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 5
- Location
- Arlington, MA
- Founding
- 06/2009
- Data as of
- 12/2022
- EIN
- 26-2607677
Organization Overview
Furniture Trust Organization Inc is located in Arlington, MA. The organization was established in 2009. According to its NTEE Classification (C27) the organization is classified as: Recycling, under the broad grouping of Environment and related organizations. As of 12/2022, Furniture Trust Organization Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Furniture Trust Organization Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Furniture Trust Organization Inc generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $5.8m during the year ending 12/2022. While expenses have increased by 11.4% per year over the past 7 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
ENVIRONMENTALLY FRIENDLY OFFICE FURNITURE DISPOSITION - EDUCATE CORPORATIONS AND INSTITUTIONS ABOUT THE BENEFITS OF RECYCLING UNWANTED OFFICE FURNITURE, RATHER THAN THROWING IT IN A LANDFILL. THE TRUST RECYCLES USED OFFICE FURNITURE (GIFTS-IN-KIND) BY DONATING SOME TO APPROXIMATELY 30 OTHER NONPROFIT ORGANIZATIONS, BY SELLING SOME, ALLOWING OTHER CORPORATIONS TO RE-USE THE UNWANTED OFFICE FURNITURE AND RECYCLING ANY REMAINING UNWANTED OFFICE FURNITUE FOR SCRAP VALUE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PARTNER WITH CORPORATIONS THROUGH COOPERATIVE AGREEMENTS TO DISMANTLE & TRANSPORT UNWANTED USED OFFICE FURNITURE TO EITHER OTHER NONPROFIT ORGANIZATIONS, SELL TO INDIVIDUALS OR CORPORATIONS, OR SALVAGE THE RAW MATERIALS THROUGH ENVIRONMENTALLY FRIENDLY RECYCLING PROCEDURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Mosholder Director | Trustee | 5 | $0 |
John Riley Secretary | OfficerTrustee | 1 | $0 |
Steve Fox President | OfficerTrustee | 5 | $0 |
Brenda Boissonnault Director | Trustee | 1 | $0 |
John Hitt Treasurer | OfficerTrustee | 3 | $0 |
Dana Deveau Executive Director | Officer | 40 | $101,959 |
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 | $4,398,161 |
| Noncash contributions included in lines 1a–1f | $4,396,950 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,398,161 |
| Total Program Service Revenue | $1,411,245 |
| Investment income | $3,113 |
| 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 | $5,812,519 |
| 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. | $101,959 |
| Compensation of current officers, directors, key employees. | $15,294 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,340 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,558 |
| Payroll taxes | $17,142 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,581 |
| Fees for services: Accounting | $7,538 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,390 |
| Office expenses | $1,843 |
| Information technology | $10,429 |
| Royalties | $0 |
| Occupancy | $16,236 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,792 |
| All other expenses | $12,594 |
| Total functional expenses | $5,758,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $567,855 |
| Savings and temporary cash investments | $76,093 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $164,302 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $24,309 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,224 |
| Total assets | $838,783 |
| Accounts payable and accrued expenses | $167,570 |
| 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 | $72,141 |
| Total liabilities | $239,711 |
| Net assets without donor restrictions | $599,072 |
| 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 | $838,783 |