Transformers Foundation Inc
- Assets
- $187.8k
- Revenue
- $299.0k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/2019
- Data as of
- 12/2022
- EIN
- 84-2388186
Organization Overview
Transformers Foundation Inc is located in New York, NY. The organization was established in 2019. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Transformers 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 12/2022, Transformers Foundation Inc generated $299.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $292.2k during the year ending 12/2022. 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
TRANSFORMERS FOUNDATION IS THE UNIFIED VOICE REPRESENTING THE DENIM INDUSTRY AND ITS IDEAS FOR POSITIVE CHANGE. IT WAS FOUNDED TO PROVIDE A THUS-FAR MISSING PLATFORM TO THE JEANS AND DENIM SUPPLY CHAIN, AND A CENTRAL POINT OF CONTACT FOR CONSUMERS, BRANDS NGOS, AND MEDIA WHO WANT TO LEARN MORE ABOUT ETHICS AND SUSTAINABLE INNOVATION IN THE INDUSTRY. WE REPRESENT THE DENIM SUPPLY CHAIN: FROM FARMERS AND CHEMICAL SUPPLIERS TO DENIM MILL
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: TRANSFORMERS FOUNDATION WORKS WITH EDUCATIONAL INSTITUTIONS AND INDUSTRY TO BRING TOGETHER A CONFERENCE SERIES, WHERE WE TEACH STUDENTS THE DENIM SUPPLY CHAIN, FOCUSING ON EACH AREA FROM FIBER THROUGH TO FINISH GARMENT PROCESSING. EACH SERIES IS TAILORED TO THE AUDIENCE OF STUDENTS AND IS PROVIDED GLOBALLY IN SEVERAL LANGUAGES - EACH EVENT IS THEN ADDED TO THE LEARNING HUB FOR REFERENCE RESOURCES. EACH SEGMENT OF THE SUPPLY CHAIN IS PRESENTED BY A PROFESSIONAL DONATING THEIR TIME TO TEACH GLOBAL STUDENTS.
RESEARCH & WRITING: THE TRANSFORMERS FOUNDATION SELECTS ONE SUBJECT FOR A DEEP DIVE RESEARCH PAPER ON ONE SUBJECT. 2020 RESEARCH PAPER WAS FOCUSED ON THE ETHICAL PURCHASING PRACTICES IN THE DENIM SUPPLY CHAIN THROUGH COVID-19. THIS PAPER ALSO HIGHLIGHTED THE POWER UNBALANCE BETWEEN BRANDS/BUYERS AND THEIR SUPPLIERS. THIS 70 PAGE REPORT WAS SHARED WITH B2B AS WELL AS B2C PRESS AND INDUSTRY EXPERTS AND PRESS. THIS PAPER WAS ENDORSED BY OVER 70 INDIVIDUAL COMPANIES THROUGHOUT THE SUPPLY CHAIN.SEPARATELY WE HAVE RESEARCHERS AND WRITERS PREPARED TO FOCUS ON VARIOUS SUBJECTS WITHIN THE SUPPLY CHAIN TO PRODUCE ARTICLES THAT CAN BE SHARED THROUGH OUR INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Olah Director | Trustee | 10 | $0 |
Emily Olah Director | Trustee | 10 | $0 |
Sanjeev Bahl Director | Trustee | 10 | $0 |
Miguel Sanchez Director | Trustee | 15 | $0 |
Robin Cornelius Director | Trustee | 10 | $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 | $299,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $299,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $299,000 |
| 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 | $21,093 |
| 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 | $0 |
| All other expenses | $4,508 |
| Total functional expenses | $292,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,327 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $104,500 |
| 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 | $187,827 |
| Accounts payable and accrued expenses | $36,230 |
| 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 | $36,230 |
| Net assets without donor restrictions | $151,597 |
| 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 | $187,827 |