Liabilities / Assets
32nd percentile
Higher debt load relative to assets than 32% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.03x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
2nd percentile
Faster asset growth than 2% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Down$2,740,066
Down $1,720,011 (-39%) from 2011
Net Assets
Down$2,653,236
Down $1,683,422 (-39%) from 2011
Liabilities
Down$86,830
Down $36,589 (-30%) from 2011
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Down$411,452
Down $317,476 (-44%) from 2011
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2011 to Jun 30, 2012
- Signed
- May 2, 2013
- Return Version
- 2011v1.5
- Gross Receipts
- $1,069,771
Mission and Program Overview
Mission
The institute of textile technology shall establish and maintain an educational institution at the graduate level for instruction of students and for research in literary and scientific branches of learning. The institute shall specialize in scientific instruction, research, and information service in those disciplines that apply to the materials, processes, and technologies for the manufacture of textiles, their distribution, and use.
Filing and Contact Details
Filer
- EIN
- 54-0505914
Raw XML AppendixShowing 400 of 524 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ActivityOrMissionDescription | 0 | THE INSTITUTE OF TEXTILE TECHNOLOGY SHALL ESTABLISH AND MAINTAIN AN EDUCATIONAL INSTITUTION AT THE GRADUATE LEVEL FOR INSTRUCTION OF STUDENTS AND FOR RESEARCH IN LITERARY AND SCIENTIFIC BRANCHES OF LEARNING. THE INSTITUTE SHALL SPECIALIZE IN SCIENTIFIC INSTRUCTION, RESEARCH, AND INFORMATION SERVICE IN THOSE DISCIPLINES THAT APPLY TO THE MATERIALS, PROCESSES, AND TECHNOLOGIES FOR THE MANUFACTURE OF TEXTILES, THEIR DISTRIBUTION, AND USE. |
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| IRS990/Description | 0 | TO SELECT GRADUATE STUDENTS FOR A TWO YEAR GRADUATE PROGRAM WITH HIGH INTELLECT AND LEADERSHIP ABILITY, WHO DEMONSTRATE PERSONAL INTEGRITY, AND STRONG INTERPERSONAL SKILLS, AND TO PREPARE THOSE STUDENTS TO ASSUME LEADERSHIP RESPONSIBILITIES IN THE TEXTILE INDUSTRY THROUGH MULTI-DISCIPLINARY GRADUATE EDUCATION IN THE THEORY AND PRACTICE OF TEXTILE MANUFACTURING TECHNOLOGY, REINFORCED WITH EXTENSIVE INDUSTRY INTERACTION AND THE INSTITUTE'S APPLIED RESEARCH PROGRAM. |
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| IRS990/MissionDescription | 0 | THE INSTITUTE OF TEXTILE TECHNOLOGY SHALL ESTABLISH AND MAINTAIN AN EDUCATIONAL INSTITUTION AT THE GRADUATE LEVEL FOR INSTRUCTION OF STUDENTS AND FOR RESEARCH IN LITERARY AND SCIENTIFIC BRANCHES OF LEARNING. THE INSTITUTE SHALL SPECIALIZE IN SCIENTIFIC INSTRUCTION, RESEARCH, AND INFORMATION SERVICE IN THOSE DISCIPLINES THAT APPLY TO THE MATERIALS, PROCESSES, AND TECHNOLOGIES FOR THE MANUFACTURE OF TEXTILES, THEIR DISTRIBUTION, AND USE. |
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| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 0 | IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION 740-10 ("ASC 740-10"), ACCOUNTING FOR INCOME TAXES, THE ORGANIZATION REFLECTS IN THE FINANCIAL STATEMENTS THE BENEFIT OF POSITIONS TAKEN IN A PREVIOUSLY FILED TAX RETURN OR EXPECTED TO BE TAKEN IN A FUTURE TAX RETURN ONLY WHEN IT IS CONSIDERED 'MORE-LIKELY-THAN-NOT' THAT THE POSITION TAKEN WILL BE SUSTAINED BY A TAXING AUTHORITY. THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS USING PROVISIONS OF ASC 450, CONTINGENCIES. ACCORDINGLY, A LOSS CONTINGENCY IS RECOGNIZED WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. IF APPLICABLE, PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES ARE INCLUDED IN GENERAL AND ADMINISTRATIVE EXPENSES. UNDER THE STATUTE OF LIMITATIONS, THE TAX RETURNS OF THE ORGANIZATION FOR 2009 THROUGH 2011 ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED TAX POSITIONS FOR THE 2009 THROUGH 2011 RETURNS, AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AND BELIEVES THERE IS NO INCOME TAX EFFECT ON THE FINANCIAL STATEMENTS. |
| IRS990ScheduleD/NetUnrealizedGLOnInvestments | 0 | -179997 |
| IRS990ScheduleD/NumberFundsHeld | 0 | 17949 |
| IRS990ScheduleD/OtherLiabilities/Amount | 0 | 19950 |
| IRS990ScheduleD/OtherLiabilities/Description | 0 | DUE TO ALUMNI ASSOCIATION |
| IRS990ScheduleD/OtherSecurities/BookValue | 0 | 372493 |
| IRS990ScheduleD/OtherSecurities/BookValue | 1 | 423606 |
| IRS990ScheduleD/OtherSecurities/Description | 0 | INVESTMENT IN PARTNERSHIP |
| IRS990ScheduleD/OtherSecurities/Description | 1 | CASH EQUIVALENTS |
| IRS990ScheduleD/OtherSecurities/MethodOfValuation | 0 | F |
| IRS990ScheduleD/OtherSecurities/MethodOfValuation | 1 | F |
| IRS990ScheduleD/TotalAdjustments | 0 | -179997 |
| IRS990ScheduleD/TotalExpenses | 0 | 411452 |
| IRS990ScheduleD/TotalOfAmounts | 0 | 19950 |
| IRS990ScheduleD/TotalOfBookValueLandBuildings | 0 | 5282 |
| IRS990ScheduleD/TotalOfBookValueSecurities | 0 | 796099 |
| IRS990ScheduleD/TotalRevenue | 0 | -1091973 |
| IRS990ScheduleJ/AnyNonFixedPayments | 0 | 0 |
| IRS990ScheduleJ/BoardOrCommitteeApproval | 0 | X |
| IRS990ScheduleJ/CompBasedNetEarningsFilingOrg | 0 | 0 |
| IRS990ScheduleJ/CompBasedNetEarningsRelateOrgs | 0 | 0 |
| IRS990ScheduleJ/CompBasedOnRevenueOfFilingOrg | 0 | 0 |
| IRS990ScheduleJ/CompBasedOnRevenueRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/EquityBasedCompArrangement | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/BaseCompensationFilingOrg | 0 | 173681 |
| IRS990ScheduleJ/Form990ScheduleJPartII/BonusFilingOrg | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/BonusRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/CompBasedOnRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990FilingOrg | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg | 0 | 35367 |
| IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson | 0 | W GILBERT O'NEAL |
| IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg | 0 | 18464 |
| IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg | 0 | 227512 |
| IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs | 0 | 0 |
| IRS990ScheduleJ/InitialContractException | 0 | 0 |
| IRS990/ScheduleJRequired | 0 | 1 |
| IRS990ScheduleJ/SeverancePayment | 0 | 0 |
| IRS990ScheduleJ/SupplementalNonqualRetirePlan | 0 | 0 |
| IRS990ScheduleN/AGNotified | 0 | 0 |
| IRS990ScheduleN/AssetsDistributed | 0 | 0 |
| IRS990ScheduleN/BondLiabilitiesDischarged | 0 | 0 |
| IRS990ScheduleN/BondsOutstanding | 0 | 0 |
| IRS990ScheduleN/DirectorOfSuccessor | 0 | 0 |
| IRS990ScheduleN/EmployeeOfSuccessor | 0 | 0 |
| IRS990ScheduleN/Form990ScheduleNPartIII/Explanation | 0 | IT3, A SUBSIDIARY OF THE INSTITUTE OF TEXTILE TECHNOLOGY, DISCONTINUED OPERATIONS AS OF JUNE 30TH, 2012. THE DISCONTINUANCE OF OPERATIONS RESULTED IN A REALIZED LOSS OF $1,337,025 ON INVESTMENT FOR THE INSTITUTE. |
| IRS990ScheduleN/LiabilitiesPaid | 0 | 0 |
| IRS990ScheduleN/LiquidationTable/LiquidationDetail/DateOfDistribution | 0 | 2012-06-30 |
| IRS990ScheduleN/LiquidationTable/LiquidationDetail/DescriptionOfAsset | 0 | IT3, A SUBSIDIARY OF THE INSTITUTE OF TEXTILE TECHNOLOGY, DISCONTINUED OPERATIONS AS OF JUNE 30TH, 2012. |
| IRS990ScheduleN/LiquidationTable/LiquidationDetail/FMVOfAsset | 0 | 1337025 |
| IRS990ScheduleN/OwnerOfSuccessor | 0 | 0 |
| IRS990ScheduleN/ReceiveCompensation | 0 | 0 |
| IRS990ScheduleN/RequiredToNotifyAG | 0 | 0 |
| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | THE 990 REVIEW IS PERFORMED BY DIRECTOR OF ADMINISTRATION & FINANCE WITH PRESIDENT/CEO. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | ANNUAL REPORTING OF CONFLICT OF INTERESTS IS A REQUIREMENT BY NC STATE UNIVERSITY. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | THE ITT BOARD OF TRUSTEES DETERMINES COMPENSATION FOR PRESIDENT BASED ON GUIDELINES FROM NC STATE UNIVERSITY. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | THE ORGANIZATION ADHERES TO THE FREEDOM OF INFORMATION ACT AND NC PUBLIC RECORDS INFORMATION ACT (INFORMATION AVAILABLE UPON REQUEST). |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | NET UNREALIZED LOSSES ON INVESTMENTS: -179,997. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | THE ORGANIZATION'S FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS HAS NOT CHANGED FROM THE PRIOR YEAR. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | CHANGES IN NET ASSETS OR FUND BALANCES: |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PART XI, LINE 5: |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PART XI, LINE 2C |
| IRS990/ScheduleORequired | 0 | 1 |
| IRS990ScheduleR/ExchangeOfAssets | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $2,740,066
- Liabilities
- $86,830
- Net assets
- $2,653,236
- Revenue
- -
- Expenses
- $411,452
- Net income
- -