Civic Intelligence

Transformers Foundation Inc.

990 • Fiscal year 2023 • EIN 84-2388186

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileWWW.TRANSFORMERSFOUNDATION.ORG
833 Broadway 5th FloorNew York, NY 10003

(212) 260-9266

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

0.74x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • NTEE C30 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

0.30x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • NTEE C30 • <$500k nonprofits • Source year 2023

Net Margin

11th percentile

-35%

Higher net margin than 11% of similar nonprofits.

2023 filings • NTEE C30 • <$500k nonprofits • Source year 2023

Top Officer Pay

95th percentile

$44,000

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2023 filings • NTEE C30 • <$500k nonprofits • Source year 2023

Asset Growth

16th percentile

-30%

Faster asset growth than 16% of similar nonprofits.

2023 filings • NTEE C30 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

55th percentile

8.6%

Faster revenue growth than 55% of similar nonprofits.

2023 filings • NTEE C30 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$132,239

Down $55,588 (-30%) from 2022

Net Assets

Down

$34,261

Down $117,336 (-77%) from 2022

Liabilities

Up

$97,978

Up $61,748 (+170%) from 2022

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin11th percentile

Revenue

Up

$324,789

Up $25,789 (+8.6%) from 2022

Expenses

Up

$438,625

Up $146,389 (+50%) from 2022

Net Income

Down

-$113,836

Down $120,600 (-1783%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200K$150K$100K$50K$0Assets 2020: $72,265Liabilities 2020: $0Net Assets 2020: $72,2652020Assets 2021: $157,582Liabilities 2021: $12,749Net Assets 2021: $144,8332021Assets 2022: $187,827Liabilities 2022: $36,230Net Assets 2022: $151,5972022Assets 2023: $132,239Liabilities 2023: $97,978Net Assets 2023: $34,2612023Assets 2024: $140,242Liabilities 2024: $129,321Net Assets 2024: $10,9212024

Highlighted filing

2023

Assets$132,239
Liabilities$97,978
Net Assets$34,261
Open 2023 Filing

Operations Trend

Revenue Growth55th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2020: $221,458Expenses 2020: $149,193Net Income 2020: $72,2652020Revenue 2021: $306,254Expenses 2021: $233,686Net Income 2021: $72,5682021Revenue 2022: $299,000Expenses 2022: $292,236Net Income 2022: $6,7642022Revenue 2023: $324,789Expenses 2023: $438,625Net Income 2023: -$113,8362023Revenue 2024: $246,889Expenses 2024: $273,729Net Income 2024: -$26,8402024

Highlighted filing

2023

Revenue$324,789
Expenses$438,625
Net Income-$113,836
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$324,789
Mission and Program Overview

Mission

We move the needle on sustainable performance through open sharing of best practices, encouraging, giving visibility and supporting sustainable progress,challenging unclear, non solid marketing or claims, transparently celebrating best in class and innovation.

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 mills.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$104,500$115,000▲ $10,500
Cash and Non-Interest-Bearing Accounts$83,327$17,239▼ $66,088
Total Assets$187,827$132,239▼ $55,588
Liabilities
Accounts Payable and Accrued Expenses$36,230$97,978▲ $61,748
Total Liabilities$36,230$97,978▲ $61,748
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$151,597$34,261▼ $117,336
Total Net Assets Fund Balance$151,597$34,261▼ $117,336
Total Liabilities and Net Assets / Fund Balance$187,827$132,239▼ $55,588
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Emily OlahExecutive DirectorPT$44,000$44,000
Kim Van Der WeerdDirectorPT$42,261$42,261
Miguel SanchezDirectorPT$32,564$32,564

Board Members and Trustees

NameTitle
Alberto De ContiDirector
Robin CorneliusDirector
Tricia CareyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$324,475
Program Service Revenue
$0
Investment Income
$314
Other Revenue
$0
All Other Contributions
$324,475
Change in Net Assets
$-113,836
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$438,625
Total Fundraising Expense$45,499
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$209,161$14,945$22,417$246,523
Fees for Services Accounting$6,250$21,485-$27,735
Other Expenses$2,399-$7,200$2,399
Total Functional Expenses$356,696$36,430$45,499$438,625
International Activity

International Summary

Offices
0
Employees
0
Spending
$214,016

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
AmsterdamProgram ServicesEducation & Research00$142,678
Hong KongProgram ServicesEducation & Research00$23,784
TurkeyProgram ServicesEducation & Research00$23,777
LondonProgram ServicesEducation & Research00$23,777
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
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“No committees other than the board have been created by the organization.”

Form 990, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Transformers Foundation Inc
EIN
84-2388186
Phone
2122609266
Address
833 BROADWAY 5TH FLOOR, NEW YORK, NY 10003

Signing Officer

Name
Emily Olah
Title
Executive Director
Phone
2122609266
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emily Olah
Formed
2019
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Holman Frenia Allison Pc
Address
1985 CEDAR BRIDGE AVENUE SUITE 3, LAKEWOOD, NJ 08701
Preparer
Craig R Johnson
Phone
7327971333
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants: program service expenses 209,161. Management and general expenses 14,945. Fundraising expenses 22,417. Total expenses 246,523.”

Financial Statement Notes

PART X, LINE 2:

“The organization is a non-profit entity as described in section 501(c)(3) of the interal revenue code and is exempt from federal and state income taxes. Accordingly, there is no provision for income taxes. The organization is required to file form 990, return of organization exempt from income tax, with the internal revenue service. The organization follows the income tax standard for uncertain tax positions. This standard had no impact on the organization's financial statements. The organization's income tax returns are subject to review and examination by federal and state authorities. The organization is not aware of any activities that would jeopardize its tax-exempt status or any activities that are subject to tax or unrelated business income taxes.”

Raw XML Appendix374 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/MissionDesc0WE MOVE THE NEEDLE ON SUSTAINABLE PERFORMANCE THROUGH OPEN SHARING OF BEST PRACTICES, ENCOURAGING, GIVING VISIBILITY AND SUPPORTING SUSTAINABLE PROGRESS, CHALLENGING UNCLEAR, NON SOLID MARKETING OR CLAIMS, TRANSPARENTLY CELEBRATING BEST IN CLASS AND INNOVATION.
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IRS990/ProgSrvcAccomActy2Grp/Desc0RESEARCH & 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. SEPERATELY, 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NON-PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. ACCORDINGLY, THERE IS NO PROVISION FOR INCOME TAXES. THE ORGANIZATION IS REQUIRED TO FILE FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WITH THE INTERNAL REVENUE SERVICE. THE ORGANIZATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS STANDARD HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS OR ANY ACTIVITIES THAT ARE SUBJECT TO TAX OR UNRELATED BUSINESS INCOME TAXES.
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt30
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt20
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt30
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0142678
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt123784
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt223777
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt323777
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0AMSTERDAM
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1HONG KONG
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2TURKEY
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3LONDON
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0EDUCATION & RESEARCH
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1EDUCATION & RESEARCH
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2EDUCATION & RESEARCH
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt3EDUCATION & RESEARCH
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3PROGRAM SERVICES
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt0214016
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0ALL COSTS ARE APPROVED AND MANAGED BY TRANSFORMERS FOUNDATION ACCOUNTING OPERATION IN THE US. THESE COSTS ARE MONITORED BY SPECIFIC PROGRAM AND REGION.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt0214016
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO COMMITTEES OTHER THAN THE BOARD HAVE BEEN CREATED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTANTS: PROGRAM SERVICE EXPENSES 209,161. MANAGEMENT AND GENERAL EXPENSES 14,945. FUNDRAISING EXPENSES 22,417. TOTAL EXPENSES 246,523.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0187827
IRS990/TotalAssetsEOYAmt0132239
IRS990/TotalAssetsGrp/BOYAmt0187827
IRS990/TotalAssetsGrp/EOYAmt0132239
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0324475
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt045499
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036430
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0356696
IRS990/TotalFunctionalExpensesGrp/TotalAmt0438625
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt036230
IRS990/TotalLiabilitiesEOYAmt097978
IRS990/TotalLiabilitiesGrp/BOYAmt036230
IRS990/TotalLiabilitiesGrp/EOYAmt097978
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0151597
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt034261
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0356696
IRS990/TotalReportableCompFromOrgAmt0118825
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0314
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0324789
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0187827
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0132239
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0833 BROADWAY 5TH FLOOR
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010003
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.TRANSFORMERSFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EMILY OLAH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02122609266
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRANSFORMERS FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0TRAN
ReturnHeader/Filer/EIN0842388186
ReturnHeader/Filer/PhoneNum02122609266
ReturnHeader/Filer/USAddress/AddressLine1Txt0833 BROADWAY 5TH FLOOR
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010003
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223480145
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOLMAN FRENIA ALLISON PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01985 CEDAR BRIDGE AVENUE SUITE 3
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKEWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008701
ReturnHeader/PreparerPersonGrp/PhoneNum07327971333
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRAIG R JOHNSON
ReturnHeader/ReturnTs02024-11-15T09:57:04-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$132,239
Liabilities
$97,978
Net assets
$34,261
Revenue
$324,789
Expenses
$438,625
Net income
-$113,836
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.40$1.29$0.11$2.47$2.74$0.27
2023Detailed filing. Detailed filing data is available for this year.$1.32$0.98$0.34$3.25$4.39$1.14
2022Detailed filing. Detailed filing data is available for this year.$1.88$0.36$1.52$2.99$2.92$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.58$0.13$1.45$3.06$2.34$0.73
2020Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$2.21$1.49$0.72