Civic Intelligence

Unknown Organization

EIN 54-0505914 • 501(c)3

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Profile

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.

College Of Textiles Box 830127695-8301

www.itt.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

38th percentile

0.02x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

77th percentile

0.37x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

2nd percentile

-167%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

23rd percentile

-4.6%

Faster asset growth than 23% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$2,368,424

Down $115,421 (-4.6%) from 2013

Liabilities

Down

$50,221

Down $60,254 (-55%) from 2013

Net Assets

Down

$2,318,203

Down $55,167 (-2.3%) from 2013

Operations
Liabilities / Revenue77th percentileNet Margin2nd percentile

Revenue

Down

$134,004

Down $104,734 (-44%) from 2013

Expenses

Down

$357,331

Down $97,532 (-21%) from 2013

Net Income

Down

-$223,327

Down $7,202 (-3.3%) from 2013

Trend Graphs

Balance Sheet Trend

Asset Growth23rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $4,460,077Liabilities 2011: $123,419Net Assets 2011: $4,336,6582011Assets 2012: $2,740,066Liabilities 2012: $86,830Net Assets 2012: $2,653,2362012Assets 2013: $2,483,845Liabilities 2013: $110,475Net Assets 2013: $2,373,3702013Assets 2014: $2,368,424Liabilities 2014: $50,221Net Assets 2014: $2,318,2032014

Highlighted filing

2014

Assets$2,368,424
Liabilities$50,221
Net Assets$2,318,203
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $728,9282011Expenses 2012: $411,4522012Revenue 2013: $238,738Expenses 2013: $454,863Net Income 2013: -$216,1252013Revenue 2014: $134,004Expenses 2014: $357,331Net Income 2014: -$223,3272014

Highlighted filing

2014

Revenue$134,004
Expenses$357,331
Net Income-$223,327
Open 2014 Filing

Filings

Most recent year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,368,424
Liabilities
$50,221
Net assets
$2,318,203
Revenue
$134,004
Expenses
$357,331
Net income
-$223,327
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$2.37$0.05$2.32$0.13$0.36$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$0.11$2.37$0.24$0.45$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.74$0.09$2.65$0.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.46$0.12$4.34$0.73
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 5, 2014
Return Version
2013v3.0
Gross Receipts
$660,448
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,945,926$2,002,275▲ $56,349
Investments Other Securities$392,263$203,551▼ $188,712
Cash and Non-Interest-Bearing Accounts$122,484$155,900▲ $33,416
Savings and Temporary Cash Investments$17,378$6,660▼ $10,718
Prepaid Expenses and Deferred Charges$3,709--
Land, Buildings, and Equipment, Net$2,085$38▼ $2,047
Total Assets$2,483,845$2,368,424▼ $115,421
Liabilities
Accounts Payable and Accrued Expenses$110,475$50,221▼ $60,254
Total Liabilities$110,475$50,221▼ $60,254
Net Assets / Fund Balance
Unrestricted Net Assets$2,373,370$2,318,203▼ $55,167
Total Net Assets Fund Balance$2,373,370$2,318,203▼ $55,167
Total Liabilities and Net Assets / Fund Balance$2,483,845$2,368,424▼ $115,421

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$38$32,216$32,254
Other Securities$203,551--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
W GILBERT O'NEALPresident and CEOFT$155,104$36,153$191,257
Patrice HillDirector of Admin & FinancFT$70,437$5,417$75,854

Board Members and Trustees

NameTitle
Allen E Gant JrChairman
Anderson D WarlickMember
Joseph L GorgaMember
Joseph SalleyMember
Robert Chapman IiiMember
Scott MalcolmMember
Steven L SheekMember
E Smyth MckissickSecretary
David JacksonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,500
Program Service Revenue
$1,920
Investment Income
$128,700
Other Revenue
$884
All Other Contributions
$2,500
Change in Net Assets
$-223,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$249,119
Grants and Similar Amounts Paid$72,100
Other Expenses$36,112
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$104,351$129,254-$233,605
Grants to Domestic Individuals$67,500--$67,500
Payroll Taxes$6,930$8,584-$15,514
Fees for Service Investment Mgmnt Fees$6,227$7,714-$13,941
Fees for Services Accounting$4,344$5,381-$9,725
Travel$2,548$3,157-$5,705
Grants to Domestic Orgs$4,600--$4,600
Depreciation Depletion$914$1,133-$2,047
Other Expenses$117$144-$261
Insurance$46$58-$104
Total Functional Expenses$199,511$157,820$0$357,331
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The 990 is provided to the full board prior to filing. The 990 review is performed by the director of administration & finance with the president/ceo.”

Form 990, Part VI, Section B, Line 12C

“Itt follows the procedures of nc state university and they require annual reporting of conflicts of interest.”

Form 990, Part VI, Section B, Line 15

“The itt board of trustees determines compensation for the president based on guidelines from nc state university.”

Form 990, Part VI, Section C, Line 19

“The organization adheres to the freedom of information act and nc public records information act (information available upon request).”

Filing and Contact Details

Filer

EIN
54-0505914
Phone
9195137583

Signing Officer

Name
W GILBERT O'NEAL
Title
President
Phone
9195137583
Signed
2014-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
W GILBERT O'NEAL
Formed
1944
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
2
Volunteers
9

Preparer

Preparer
Andrea Woodell Eason
Phone
9199428700
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C, Responsibility for Oversight of the Compilatio

“The organization's finance committee assumes responsibility for the oversight of the compilation and selection of an independent accountant. This has not changed from the prior year.”

Raw XML AppendixShowing 400 of 450 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/Form990PartVIISectionAGrp/PersonNm3ROBERT CHAPMAN III
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IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT AND CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR OF ADMIN & FINANC
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IRS990/PYContributionsGrantsAmt026700
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt072500
IRS990/PYInvestmentIncomeAmt0210393
IRS990/PYOtherExpensesAmt062356
IRS990/PYOtherRevenueAmt045
IRS990/PYProgramServiceRevenueAmt01600
IRS990/PYRevenuesLessExpensesAmt0-216125
IRS990/PYSalariesCompEmpBnftPaidAmt0320007
IRS990/PYTotalExpensesAmt0454863
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0238738
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-223327
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01920
IRS990/SavingsAndTempCashInvstGrp/BOYAmt017378
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06660
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt026700
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0406748
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0496289
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0932237
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt085879
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt068445
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt084221
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0100962
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt091850
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0431357
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0157951
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0884
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt045
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt04293
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt033030
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt030598
IRS990ScheduleA/OtherIncome170Grp/TotalAmt068850
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.65080
IRS990ScheduleA/PublicSupportPY170Pct00.72710
IRS990ScheduleA/PublicSupportTotal170Amt0932237
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt026700
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0406748
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0496289
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0932237
IRS990ScheduleA/TotalSupportAmt01432444
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt038
IRS990ScheduleD/EquipmentGrp/DepreciationAmt032216
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt032254
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0203551
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN PARTNERSHIP
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt038
IRS990ScheduleD/TotalBookValueSecuritiesAmt0203551
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt067500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0TO SUPPORT RESEARCH AND STUDY OF TEXTILES.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt05
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE CENTENNIAL SCHOLARSHIP RECEPIENTS ARE CHOSEN THROUGH A PROCESS HANDLED BY THE COLLEGE OF TEXTILES AT NC STATE UNIVERSITY. FOLLOWING THE INTERVIEW PROCESS FOR THE NORMAL CENTENNIAL SCHOLARSHIP PROGRAM AND THE ITT RICHARD MILLIKEN CENTENNIAL SCHOLARSHIP, CANDIDATES WILL BE CHOSEN TO RECEIVE THE SCHOLARSHIPS. THE FUNDS WILL BE TRANSFERRED TO THE COLLEGE OF TEXTILES, WHO WILL ADMINISTER THE SCHOLARSHIP.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0155104
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt030946
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt05207
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0W GILBERT O'NEAL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT AND CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0191257
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0PATRICE HILL - $18,721
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 4A
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PROVIDED TO THE FULL BOARD PRIOR TO FILING. THE 990 REVIEW IS PERFORMED BY THE DIRECTOR OF ADMINISTRATION & FINANCE WITH THE PRESIDENT/CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ITT FOLLOWS THE PROCEDURES OF NC STATE UNIVERSITY AND THEY REQUIRE ANNUAL REPORTING OF CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ITT BOARD OF TRUSTEES DETERMINES COMPENSATION FOR THE PRESIDENT BASED ON GUIDELINES FROM NC STATE UNIVERSITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION ADHERES TO THE FREEDOM OF INFORMATION ACT AND NC PUBLIC RECORDS INFORMATION ACT (INFORMATION AVAILABLE UPON REQUEST).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE COMPILATION AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C, RESPONSIBILITY FOR OVERSIGHT OF THE COMPILATIO
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02483845
IRS990/TotalAssetsEOYAmt02368424
IRS990/TotalAssetsGrp/BOYAmt02483845
IRS990/TotalAssetsGrp/EOYAmt02368424
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt02500
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0157820
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0199511
IRS990/TotalFunctionalExpensesGrp/TotalAmt0357331
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0110475
IRS990/TotalLiabilitiesEOYAmt050221
IRS990/TotalLiabilitiesGrp/BOYAmt0110475
IRS990/TotalLiabilitiesGrp/EOYAmt050221
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02373370
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02318203
IRS990/TotalOtherCompensationAmt041570
IRS990/TotalProgramServiceExpensesAmt0199511
IRS990/TotalProgramServiceRevenueAmt01920
IRS990/TotalReportableCompFromOrgAmt0225541
IRS990/TotalRevenueGrp/ExclusionAmt0129584
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01920

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