Independent Textile Rental Association Inc (EIN 200482965) - 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

2003

Legal Domicile

Principal Officer

James Ritchie

Tax Period

2024-01-01 to 2024-12-31

Independent Textile Rental Association Inc, founded in 2003, is a small nonprofit in the Community Improvement sector that reported $206K in total revenue in fiscal year 2024. Expenses of $293K exceeded revenue, resulting in a 42% operating deficit.

Mission

Providing education and business solutions for member companies. Member companies are comprised of independently owned and operated textile rental companies and industry suppliers.

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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 $68,563

Program Service Revenue $137,260

Investment Income $4

Other Revenue $0

TOTAL REVENUE $205,827

Expense Breakdown

Grants Paid $3,016

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $292,506

Other Expenses $289,490

TOTAL EXPENSES $292,506

Year-over-Year Comparison

	2024	2023	Change
Revenue	$205,827	$210,333	0.0%
Expenses	$292,506	$144,782	+1.0%
Net Income	$-86,679	$65,551	-2.3%

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

N/A

Volunteers

N/A

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
Darrel Bode	President	010.00	Officer Director	$0	$0	$0
John Johnston	Vice President	010.00	Officer Director	$0	$0	$0
Jimbo Carrico	Past President	010.00	Officer Director	$0	$0	$0
Traig Neal	Treasurer	010.00	Officer Director	$0	$0	$0
Jim Ritchie	Executive Director	020.00	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
2024	$205,827	$292,506	$153,390	$-86,679
2023	$210,333	$144,782	$253,384	$65,551
2022	$235,167	$295,413	$207,018	$-60,246
2021	$220,047	$268,560	$259,495	$-48,513
2021	$242,636	$268,560	$282,084	$-25,924
2021	$268,986	$264,723	$282,084	$4,263
2020	$102,460	$98,743	$285,365	$3,717
2019	$264,309	$267,810	$303,893	$-3,501
2018	$285,090	$261,805	$315,515	$23,285

Independent Textile Rental Association Inc