TEXTILE CONSERVATION WORKSHOP INC (EIN 132921469) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

PATRICIA ORLOFSKY

Phone

9147635805

Tax Period

2024-09-01 to 2025-08-31

TEXTILE CONSERVATION WORKSHOP INC, founded in 1977, is a small nonprofit that reported $586K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $510K left a modest 13% surplus.

Mission

TO CARE, PRESERVE AND CONSERVE HISTORICALLY SIGNIFICANT TEXTILES FOR NONPROFIT ORGANIZATIONS SUCH AS MUSEUMS, LOCAL AND STATE HISTORIC AGENCIES AND COLLECTORS.THE WORKSHOP:- PROVIDES COMPREHENSIVE CONSERVATION SERVICES IN A FULLY-EQUIPPED LABORATORY SETTING; - PROVIDES CONDITION SURVEYS OF TEXTILE COLLECTIONS WITH RECOMMENDATIONS FOR STORAGE, EXHIBITION AND TREATMENT PROCEDURES;- SERVES THE NEED OF CULTURAL ORGANIZATIONS WITH OR WITHOUT IN-HOUSE CONSERVATION DEPARTMENTS THROUGHOUT THE UNITED STATES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,823

Program Service Revenue $474,812

Investment Income $91,861

Other Revenue $12,550

TOTAL REVENUE $586,046

Expense Breakdown

Grants Paid $0

Salaries & Benefits $390,549

Fundraising Expenses $4,497

Program Expenses $380,789

Other Expenses $119,621

TOTAL EXPENSES $510,170

Year-over-Year Comparison

	2024	2023	Change
Revenue	$586,046	$529,449	+0.1%
Expenses	$510,170	$469,645	+0.1%
Net Income	$75,876	$59,804	+0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICIA ORLOFSKY	PRESIDENT & EXEC. DIRECTOR	40.00	Officer Director	$0	$0	$0
LOUIS TAFFERA	TREASURER & ASST. SECRETARY	0.40	Officer Director	$0	$0	$0
PHYLLIS DILLON	SECRETARY	0.20	Officer Director	$0	$0	$0
GRACE HERNANDEZ	DIRECTOR	0.10	Director	$0	$0	$0
BARBARA KOTLIKOFF	DIRECTOR	0.10	Director	$0	$0	$0
PACO KULAGA	DIRECTOR	0.10	Director	$0	$0	$0
PHYLLIS MAGIDSON-KULAGA	DIRECTOR	0.10	Director	$0	$0	$0
LYNN NACMIAS	DIRECTOR	0.10	Director	$0	$0	$0
SAM ORLOFSKY	DIRECTOR	0.10	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$586,046	$510,170	$1,830,432	$75,876
2024	$529,449	$469,645	$1,773,846	$59,804
2023	$651,633	$519,357	$1,701,917	$132,276
2022	$356,018	$437,502	$1,582,930	$-81,484
2021	$527,532	$442,559	$1,687,498	$84,973
2020	$399,007	$451,271	$1,655,120	$-52,264
2019	$494,644	$441,070	$1,634,360	$53,574
2018	$424,142	$404,695	$1,616,197	$19,447

TEXTILE CONSERVATION WORKSHOP INC