Seams Association
- Assets
- $275.2k
- Revenue
- $291.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Wake Forest, NC
- Founding
- 07/1972
- Data as of
- 12/2021
- EIN
- 57-0517235
Organization Overview
Seams Association is located in Wake Forest, NC. The organization was established in 1972. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seams Association 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 12/2021, Seams Association generated $291.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $266.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEAMS ASSOCIATION'S MISSION IS TO IMPROVE THE APPAREL MANUFACTURING BUSINESS BY OFFERING UP TO DATE INFORMATION AND RESOURCES TO HELP MEMBERS BETTER MANAGE THEIR BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDUSTRY IMPROVEMENTS & PROVIDE MEANS FOR MEMBERS TO ACQUIRE INFORMATION ON UP TO DATE METHODS TO BETTER MANAGE THEIR COMPANIES. OTHER BENEFITS ARE NON-MEASURABLE. SOME MEMBERS HAVE STATED THAT THEY WOULD HAVE GONE OUT OF BUSINESS IF SEAMS HAD NOT PROVIDED VALUABLE TIMELY ASSISTANCE.
PROVIDES MEMBERS OPPORTUNITIES TO NETWORK AND OBTAIN ADDITIONAL INFORMATION RELATED TO THE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Duncan Executive Di | Officer | $0 | |
Matt Poovey Ex-Officio O | Officer | $0 | |
Jeoff Bodenhorst Jr President | Officer | $0 | |
Susana Almack Director | Trustee | $0 | |
Marty Bailey Director | Trustee | $0 | |
Gloria Barbee Director | Trustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $279,652 |
| Investment income | $19 |
| 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 | $291,337 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $650 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $885 |
| All other expenses | $13,202 |
| Total functional expenses | $265,995 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $139,355 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,345 |
| 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 | $105,486 |
| 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 | $275,186 |
| Accounts payable and accrued expenses | $243 |
| Grants payable | $0 |
| Deferred revenue | $147,550 |
| 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 | $147,793 |
| Net assets without donor restrictions | $127,393 |
| 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 | $275,186 |
Peer Organizations
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|---|---|---|
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Savannah Area Chamber Of Commerce Savannah, GA | $13,537,143 | $16,865,609 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
Hilton Head Island Bluffton Chamber Of Commerce Hilton Head Island, SC | $3,721,536 | $8,774,772 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |