THE CARPET & RUG INSTITUTE INC

EIN: 580511380

DALTON, GA

Total Revenue
$4,661,013
Total Expenses
$6,611,628
Total Assets
$4,883,026
Net Assets
$4,244,000
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1945
Legal Domicile
GA
Principal Officer
RUSS DELOZIER
Phone
7064282130
Tax Period
2024-01-01 to 2024-12-31

THE CARPET & RUG INSTITUTE INC, founded in 1945, is a community nonprofit that reported $4.7M in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $6.6M exceeded revenue, resulting in a 42% operating deficit.

Mission

THE CARPET AND RUG INSTITUTE, INC. (CRI) WAS FORMED TO PROVIDE AN ASSOCIATION TO GATHER AND DISSEMINATE INFORMATION REGARDING LAWS, REGULATIONS, AND CONDITIONS AFFECTING THE U.S. FLOOR COVERING INDUSTRY. CRI ALSO PROMOTES AND PROVIDES VARIOUS SERVICES TO THOSE IN THE INDUSTRY. CRI'S MEMBERSHIP IS COMPOSED OF MANUFACTURING AND ASSOCIATE (NONVOTING) MEMBERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,443,727
Program Service Revenue $2,052,608
Investment Income $164,678
Other Revenue $0
TOTAL REVENUE $4,661,013

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,348,206
Fundraising Expenses $0
Program Expenses $5,783,298
Other Expenses $5,263,422
TOTAL EXPENSES $6,611,628

Year-over-Year Comparison

2024 2023 Change
Revenue $4,661,013 $5,904,325 -0.2%
Expenses $6,611,628 $4,531,634 +0.5%
Net Income $-1,950,615 $1,372,691 -2.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
11
Volunteers
20

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
$458,322
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TOM PENDLEY CHAIR 5.00
Officer Director
$0 $0 $0
FRANCO ROSSI DIRECTOR 1.00
Director
$0 $0 $0
ROBERT SHAW DIRECTOR 1.00
Director
$0 $0 $0
CHIP HOWALT DIRECTOR 1.00
Director
$0 $0 $0
TIM BAUCOM DIRECTOR 1.00
Director
$0 $0 $0
DANIEL K FRIERSON DIRECTOR 1.00
Director
$0 $0 $0
JAY BROWN DIRECTOR 1.00
Director
$0 $0 $0
JOE SEMAAN VICE CHAIR 2.00
Director
$0 $0 $0
WINN EVERHART DIRECTOR 1.00
Director
$0 $0 $0
PATRICK KEESE DIRECTOR 1.00
Director
$0 $0 $0
KURT R DELOZIER CEO 50.00
Officer
$263,114 $40,303 $303,417
SUSAN NEWBERRY CFO 40.00
Officer
$131,374 $23,531 $154,905
RYAN WILLIAMS EMPLOYEE 40.00
Highest
$126,455 $40,438 $166,893
JENNIFER STOWE EMPLOYEE 40.00
Highest
$232,783 $35,683 $268,466
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 $4,661,013 $6,611,628 $4,883,026 $-1,950,615
2023 $5,904,325 $4,531,634 $6,777,323 $1,372,691
2022 $2,346,028 $4,637,692 $5,550,765 $-2,291,664
2021 $6,354,333 $5,259,950 $7,916,112 $1,094,383
2020 $6,099,937 $6,223,331 $6,778,536 $-123,394
2019 $8,712,284 $7,631,755 $7,566,787 $1,080,529
2018 $7,967,436 $7,158,603 $6,458,072 $808,833
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