Textile Exchange

Analysis

Textile Exchange is a registered charity in United States, based in Burbank, CA. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Textile Exchange reported income of $24.1m and spending of $24.6m, spending 102% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $4.0m to $24.1m (+502%), an average of +43% a year. The sharpest change came in the year to December 2021, when income rose by 85%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Textile Exchange sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Chapin Hall Center for Children ($24.1m), Wedgwood Christian Services ($24.1m) and Action Pathways Inc ($24.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 9.9% of the total. Other salaries and wages came to $9.1m. At year end it held assets of $15.9m against liabilities of $1.7m, net assets of $14.1m. It reported 77 employees.