AMERICAN APPAREL & FOOTWEAR ASSOCI… - Form 990 Financial Data

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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

1933

Legal Domicile

Principal Officer

STEPHEN LAMAR

Phone

2028539080

Tax Period

2024-01-01 to 2024-12-31

AMERICAN APPAREL & FOOTWEAR ASSOCIATION, founded in 1933, is a community nonprofit that reported $8.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $6.9M left a modest 15% surplus.

Mission

THE AMERICAN APPAREL & FOOTWEAR ASSOCIATION (AAFA) IS THE NATIONAL TRADE ASSOCIATION REPRESENTING APPAREL, FOOTWEAR AND OTHER SEWN PRODUCTS COMPANIES, AND THEIR SUPPLIERS, WHICH COMPETE IN THE GLOBAL MARKET. REPRESENTING MORE THAN 1,100 WORLD FAMOUS NAME BRANDS, AAFA IS THE TRUSTED PUBLIC POLICY AND POLITICAL VOICE OF THE APPAREL AND FOOTWEAR INDUSTRY, ITS MANAGEMENT AND SHAREHOLDERS, ITS MORE THAN 3.6 MILLION U.S. WORKERS, AND ITS CONTRIBUTION OF MORE THAN $523 BILLION IN ANNUAL U.S. RETAIL SALES. AAFA DRIVES PROGRESS ON THREE KEY PRIORITIES: BRAND PROTECTION; SUPPLY CHAIN & SOURCING; AND TRADE, LOGISTICS, & MANUFACTURING. AAFA APPROACHES THIS WORK THROUGH THE LENS OF PURPOSE-DRIVEN LEADERSHIP IN A MANNER THAT SUPPORTS EACH MEMBER'S ABILITY TO BUILD AND SUSTAIN INCLUSIVE AND DIVERSE CULTURES, MEET AND ADVANCE ESG GOALS, AND DRAW UPON THE LATEST TECHNOLOGY.

Program Service Accomplishments

Program 1

THE ASSOCIATION HOLDS CONFERENCES AND SEMINARS RELATING TO THE APPAREL AND FOOTWEAR INDUSTRY, ISSUES NEWSLETTERS TO INFORM ITS MEMBERS ON CHANGES IN THE INDUSTRY AND PRESENTS THE VIEWPOINTS OF ITS...

THE ASSOCIATION HOLDS CONFERENCES AND SEMINARS RELATING TO THE APPAREL AND FOOTWEAR INDUSTRY, ISSUES NEWSLETTERS TO INFORM ITS MEMBERS ON CHANGES IN THE INDUSTRY AND PRESENTS THE VIEWPOINTS OF ITS MEMBERS TO LEGISLATIVE AND REGULATORY BODIES.WITH OVER 350 MEMBERS, THE ASSOCIATION ACCOUNTS FOR MORE THAN 1,000 NAME BRANDS.

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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 $0

Program Service Revenue $7,070,522

Investment Income $495,954

Other Revenue $488,959

TOTAL REVENUE $8,055,435

Expense Breakdown

Grants Paid $140,421

Salaries & Benefits $4,178,423

Fundraising Expenses $0

Other Expenses $2,531,910

TOTAL EXPENSES $6,850,754

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,055,435	$7,366,544	+0.1%
Expenses	$6,850,754	$6,091,520	+0.1%
Net Income	$1,204,681	$1,275,024	-0.1%

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

$1,018,877

Total Directors

Key Employees

$1,146,271

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSUE SOLANO	CHAIR	2.00	Officer Director	$0	$0	$0
HALIDE ALAGOZ	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOE PRESTON	SECRETARY	2.00	Director	$0	$0	$0
KATHERINE GOLD	TREASURER	2.00	Officer Director	$0	$0	$0
TED DAGNESE	PAST CHAIR	2.00	Officer Director	$0	$0	$0
CHRISTOPHER VOLPE	EXECUTIVE COMMITTEE	0.50	Director	$0	$0	$0
DANILO AMORETTY	EXECUTIVE COMMITTEE	0.50	Director	$0	$0	$0
KAREN SMITH	EXECUTIVE COMMITTEE	0.50	Director	$0	$0	$0
KURT CAVANO	EXECUTIVE COMMITTEE	0.50	Director	$0	$0	$0
MIKE FAIRCLOTH	EXECUTIVE COMMITTEE	0.50	Director	$0	$0	$0
TODD KAHN	EXECUTIVE COMMITTEE	0.50	Director	$0	$0	$0
TODD SOLLER	EXECUTIVE COMMITTEE	0.50	Director	$0	$0	$0
ABBEY DONEGER	DIRECTOR	0.50	Director	$0	$0	$0
ALAN LUCHETTE	DIRECTOR	0.50	Director	$0	$0	$0
ALLAN ELLINGER	DIRECTOR	0.50	Director	$0	$0	$0
ALLISON MURPHY	DIRECTOR	0.50	Director	$0	$0	$0
BILL ELLS	DIRECTOR	0.50	Director	$0	$0	$0
BRUCE MUNRO	DIRECTOR	0.50	Director	$0	$0	$0
CAMERON BAILEY	DIRECTOR	0.50	Director	$0	$0	$0
CHRIS ALT	DIRECTOR	0.50	Director	$0	$0	$0
DAVID J KATZ	DIRECTOR	0.50	Director	$0	$0	$0
DAVID J MILLER	DIRECTOR	0.50	Director	$0	$0	$0
DAVID SAVMAN	DIRECTOR	0.50	Director	$0	$0	$0
DEBORAH WEINSWIG	DIRECTOR	0.50	Director	$0	$0	$0
EDWARD A GRIBBIN	DIRECTOR	0.50	Director	$0	$0	$0
EDWARD M MANBURG	DIRECTOR	0.50	Director	$0	$0	$0
JAMES SCHWARTZ	DIRECTOR	0.50	Director	$0	$0	$0
JASON KRA	DIRECTOR	0.50	Director	$0	$0	$0
KILLICK S DATTA	DIRECTOR	0.50	Director	$0	$0	$0
LIZ O'NEILL	DIRECTOR	0.50	Director	$0	$0	$0
LUIS MARQUINA	DIRECTOR	0.50	Director	$0	$0	$0
LYDIA KE	DIRECTOR	0.50	Director	$0	$0	$0
MARK GITOMER	DIRECTOR	0.50	Director	$0	$0	$0
MELISSA NELSON	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL MANSH	DIRECTOR	0.50	Director	$0	$0	$0
OSCAR FELDENKREIS	DIRECTOR	0.50	Director	$0	$0	$0
PAULA ZUSI	DIRECTOR	0.50	Director	$0	$0	$0
PETER CHARLES	DIRECTOR	0.50	Director	$0	$0	$0
RICK HORWITCH	DIRECTOR	0.50	Director	$0	$0	$0
RICHARD C PRICE	DIRECTOR	0.50	Director	$0	$0	$0
SALLY GILLIGAN	DIRECTOR	0.50	Director	$0	$0	$0
SARAH CLARKE	DIRECTOR	0.50	Director	$0	$0	$0
SARAH HURZELER	DIRECTOR	0.50	Director	$0	$0	$0
SARAH MCMULLIN	DIRECTOR	0.50	Director	$0	$0	$0
SHAWN CURRAN	DIRECTOR	0.50	Director	$0	$0	$0
SIDNEY D HOWARD	DIRECTOR	0.50	Director	$0	$0	$0
STAN CLAY JEWELL	DIRECTOR	0.50	Director	$0	$0	$0
THOMAS C CHUBB III	DIRECTOR	0.50	Director	$0	$0	$0
TOM LORANG	DIRECTOR	0.50	Director	$0	$0	$0
STEPHEN EDWARD LAMAR	CEO & PRESIDENT	35.00	Officer	$547,286	$65,256	$612,542
AGATA BORRADORI	VP FINANCE & ADMIN	35.00	Officer	$188,721	$24,684	$213,405
CORINNE MURPHY SUDER	VP, EDU & CORP MKT	35.00	Officer	$162,587	$30,343	$192,930
MAUREEN STORCH	SVP, MEMBERSHIP	35.00	Key Emp	$401,089	$44,440	$445,529
NATHANAEL HERMAN	SVP, POLICY	35.00	Key Emp	$250,423	$22,109	$272,532
BETH ANNE HUGHES	VP, TRADE & CUSTOMS POLICY	35.00	Key Emp	$181,586	$24,300	$205,886
NATALIE CHADWICK LABELLA	SVP, COMMS &MKT	35.00	Key Emp	$206,045	$16,279	$222,324
DARRELL SUMPTER	SR OFFICE MGR/STAFF ACCT	35.00	Highest	$119,744	$21,611	$141,355
MEGAN BALKOVIC	SR DIR, MBR EXP & IND ENGAGE	35.00	Highest	$128,039	$9,443	$137,482
REEM BSEISO	PROGRAM MANAGER/GOVERNANCE LIAISON	35.00	Highest	$105,036	$22,118	$127,154
CHELSEA MURTHA	SENIOR DIRECTOR, SUSTAINABILITY	35.00	Highest	$127,396	$9,136	$136,532
KATHERINE KOSCHER	DIRECTOR, EVENTS & PROGRAM	35.00	Highest	$109,466	$17,060	$126,526

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	$8,055,435	$6,850,754	$16,919,885	$1,204,681
2023	$7,366,544	$6,091,520	$15,339,255	$1,275,024
2022	$6,640,273	$5,534,363	$13,900,144	$1,105,910
2021	$5,859,062	$4,710,467	$9,685,300	$1,148,595
2020	$5,768,928	$4,738,910	$8,177,098	$1,030,018
2019	$5,912,341	$5,982,495	$7,618,599	$-70,154
2018	$5,256,461	$5,545,658	$6,719,583	$-289,197

AMERICAN APPAREL & FOOTWEAR ASSOCIATION