Textile Society of America Inc

Analysis

Textile Society of America Inc is a registered charity in United States, based in Millersville, MD. It received its IRS tax-exemption ruling in January 1998, 28 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Textile Society of America Inc reported income of $101k and spending of $75k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $88k to $101k (+16%), an average of +3.7% a year. The sharpest change came in the year to December 2020, when income rose by 80%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Textile Society of America Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 38th percentile within MD. Charities of a similar size with the same main cause include 211 Bridge Street Corporation ($101k), Dominion Guild Inc ($101k) and Chatham Community Players Inc ($101k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 1.7% of the total. It paid $1,770 in professional fundraising fees. At year end it held assets of $810k against liabilities of $10k, net assets of $800k.