North Carolina Textile Foundation Inc

Organization Overview

North Carolina Textile Foundation Inc is located in Raleigh, NC. The organization was established in 1943. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Textile Foundation 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 06/2022, North Carolina Textile Foundation Inc generated $5.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $3.7m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO ADVANCE WILSON COLLEGE OF TEXTILES THROUGH ENGAGEMENT, PARTNERSHIP AND PHILANTHROPY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION SUPPORTS THE COLLEGE OF TEXTILES AT NORTH CAROLINA STATE UNIVERSITY THROUGH GRANTS FOR FACILITIES, FACULTY, FELLOWSHIPS, SCHOLARSHIPS AND EQUIPMENT.


THE FOUNDATION AWARDS SCHOLARSHIPS TO DESERVING GRADUATE AND UNDERGRADUATE STUDENTS OF THE COLLEGE OF TEXTILES AT NORTH CAROLINA STATE UNIVERSITY BASED ON MERIT.


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Board, Officers & Key Employees

Name (title)Compensation
Brendan Sullivan
President
$0
Cres Calabrese
Secretary
$0
Nancy Webster
Vice President
$0
Ty Huggins
Treasurer
$0
Erin Delehanty
Assistant Treasurer
$0
Mary Peloquin-Dodd
Assistant Treasurer
$0

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$3,009,247
Noncash contributions included in lines 1a–1f $70,991
Total Revenue from Contributions, Gifts, Grants & Similar$3,009,247
Total Program Service Revenue$7,516
Investment income $625,541
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,461,681
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,103,985

Grants Recieved

Over the last fiscal year, we have identified 11 grants that North Carolina Textile Foundation Inc has recieved totaling $598,837.

Awarding OrganizationAmount
Blue Bell Foundation

Las Vegas, NV

PURPOSE: GENERAL SUPPORT

$350,000
Morgan Stanley Global Impact Funding Trust Inc

Indianapolis, IN

PURPOSE: UNRESTRICTED GENERAL SUPPORT

$75,000
Vf Foundation

Wilmington, DE

PURPOSE: PIONEER SCHOLARSHIP FUND AND TEXTILES DIVERSITY AND INCLUSION FUND

$50,000
Schwab Charitable Fund

San Francisco, CA

PURPOSE: EDUCATION

$49,600
Community Foundation Of Greater Greensboro Inc

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$25,000
Foundation For The Carolinas

Charlotte, NC

PURPOSE: CHARITABLE GIFT

$20,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$85,522,562
Earnings-$5,352,699
Net Contributions$642,028
Grants$3,786,995
Ending Balance$77,024,896

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