TEXTILE CLOTHING TECHNOLOGY CORPORATION

EIN: 363166123

RALEIGH, NC

Total Revenue
$6
Total Expenses
$5,960
Total Assets
$15
Net Assets
$-681,826
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
NY
Principal Officer
MICHAEL T FRALIX
Phone
9193802156
Tax Period
2022-01-01 to 2022-12-31

TEXTILE CLOTHING TECHNOLOGY CORPORATION, founded in 1981, is a micro nonprofit that reported $6 in total revenue in fiscal year 2022. Expenses of $6K exceeded revenue, resulting in a 99233% operating deficit.

Mission

RESEARCH AND DEVELOPMENT IN MANUFACTURING EQUIPMENT AND SYSTEMS FOR THE APPAREL INDUSTRY

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $6
TOTAL REVENUE $6

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $5,960
Other Expenses $5,960
TOTAL EXPENSES $5,960

Year-over-Year Comparison

2022 2021 Change
Revenue $6 N/A N/A
Expenses $5,960 N/A N/A
Net Income $-5,954 $0 N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
3
Independent Members
3
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
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PETER N BUTENHOFF CHAIR 1.00
Officer
$0 $0 $0
MICHAEL T FRALIX PRESIDENT, CEO & TREASURER 40.00
Officer
$0 $0 $0
WILTON DUNCAN VICE PRESIDENT 1.00
Officer
$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
2022 $6 $5,960 $15 $-5,954
2021 $50,475 $230 $15,901 $50,245
2020 No data No data $556 No data
2019 $10,295 $12,809 $556 $-2,514
2018 $22,759 $27,191 $2,924 $-4,432
Explore More Nonprofits
→Top 100 Nonprofits in North Carolina →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare TEXTILE CLOTHING TECHNOLOGY CORPORATION with other nonprofits in North Carolina and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.