Textile Exchange
- Assets
- $15.9m
- Revenue
- $24.1m
- Investments
- $0.0
- Employees
- 77
- Location
- Lamesa, TX
- Founding
- 10/2003
- Data as of
- 12/2023
- EIN
- 33-1034726
Organization Overview
Textile Exchange is located in Lamesa, TX. The organization was established in 2003. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2023, Textile Exchange employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Textile Exchange 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 12/2023, Textile Exchange generated $24.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 34.1% each year . All expenses for the organization totaled $24.6m during the year ending 12/2023. While expenses have increased by 37.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRE, EQUIP PEOPLE TO INCREASE SUSTAINABLE PRACTICES IN THE TEXTILE INDUSTRY. MINIMIZING THE HARMFUL IMPACTS AND MAXIMIZING POSITIVE EFFECTS OF THE TEXTILE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR GOAL IS TO HELP INCREASE THE SOCIAL, ENVIRONMENTAL, AND ECONOMIC BENEFITS OF TEXTILE PRODUCTION FOR ALL INVOLVED THROUGHOUT THE WORLD. WE IDENTIFIED AND MET WITH FARMER ORGANIZATIONS, PRODUCTION COMPANIES, AND OTHER PLAYERS IN MORE THAN A DOZEN COUNTRIES AND HELD IN-DEPTH MEETINGS DISCUSSING ENVIRONMENTAL, SOCIAL, AND ECONOMIC CHALLENGES FACING THEM.
OUR GOAL IS TO BUILD THE TOOLS CONSUMERS AND COMPANIES NEED TO LEARN ABOUT ORGANIC AND MORE SUSTAINABLE TEXTILE PRODUCTION, AND TO LEARN WHAT THEY CAN DO TO SUPPORT THEIR TRANSITION TO THESE PRACTICES. WE CONTINUED TO UPGRADE OUR WEBSITE, HAVE CONTINUED OUR TEXTILE MARKET SURVEY, HAVE CONTINUED BUILDING THE IDENTITY OF THE ORGANIZATION AND IMPLEMENTED STANDARDS FOR TRACKING, TRACING AND DOCUMENTING THE USE OF ORGANIC AND RECYCLED MATERIAL.
OUR GOAL IS TO RAISE AWARENESS OF THE VALUE OF SUSTAINABLE TEXTILE PRODUCTION IN THE GENERAL PUBLIC AND WITH BUSINESS DECISION MAKERS. WE ASSESSED WHERE THE LEVEL OF CONSUMER AND BUSINESS AWARENESS WAS CONCERNING ORGANIC AND/OR SUSTAINABLE TEXTILES, HELD MEETINGS IN NORTH AMERICA, EUROPEAN BASIN, AND PACIFIC RIM TO UNDERSTAND REGIONAL PERSPECTIVE OF THESE ISSUES.
OUR GOAL IS TO GET LEADING RETAILERS AND BRANDS TO USE SUSTAINABLE MATERIALS AND PRACTICES IN PRODUCTION OF THEIR PRODUCTS AND TO EDUCATE CONSUMERS. WE ARE CURRENTLY WORKING WITH SOME OF THE WORLD'S LARGEST AND MOST INFLUENTIAL BRANDS TO DEVELOP AND ENLARGE THE SUSTAINABLE TEXTILES INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
S La Rhea Pepper Catalyst/co | 40 | $452,249 | |
Ashley Gill Chief Strate | 40 | $250,887 | |
Lee Martin Chief Busine | 40 | $220,816 | |
Laura Kohler Senior Direc | 40 | $201,117 | |
Megan Stoneburner Director, Fi | 40 | $196,339 | |
Heather Canon Vice Chair | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ingersoll Solutions Llc | 12/30/23 | $114,900 |
Carter Ledyard & Milburn Llp | 12/30/23 | $228,194 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $20,831,542 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $608,432 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,439,974 |
| Total Program Service Revenue | $2,387,798 |
| Investment income | $202,609 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $69,881 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,104,258 |
| 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 | $9,121,225 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $556,791 |
| Payroll taxes | $1,235,168 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $239,172 |
| Fees for services: Accounting | $15,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,388,877 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,785 |
| Travel | $3,161,646 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $24,596,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,256,391 |
| Savings and temporary cash investments | $9,147,752 |
| Pledges and grants receivable | $2,464,338 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,868,481 |
| Accounts payable and accrued expenses | $1,748,888 |
| 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 | $1,748,888 |
| Net assets without donor restrictions | $14,119,593 |
| 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 | $15,868,481 |