Advanced Functional Fabrics of America Inc

What it reported doing in 2024

Advanced functional fabrics of american (affoa) aims to establish a manufacturing innovation institute in the area of revolutionary fibers and textiles as a public private partnership between government, academia and industry. Affoa is a nationwide network addressing the spectrums of manufacturing challenges associated with the fiber and textile industry from concept to end products. This institute, with the help of the federal government funding will bring academia, government laboratories, nonprofit organization and industries (small, medium businesses and large corporations) under one umbrella so that the current fragmented u.s. Capabilities become one coherent ecosystem. The principal objective of the institute is to develop and scale critical manufacturing processes for the revolutionary fiber and textiles and take them from mrl4 to mrl7. Affoa will also provide guidance and serve as a transition partner to accelerate lower mrl activities. Fibers and textiles industry, predominately a laborintensive industry, has been losing global market share and us manufacturing jobs for the past four decades. Concomitant with the decline has been the loss of infrastructure for new development, including labscale and pilot line facilities, and the knowledge base in these areas for the manufacturing sector. Also, a vacuum has been created in the talent pool essential to reviving the fiber and textile manufacturing sector. These areas need strategic investment to seed and grow the manufacturing base for advanced fibers and technical textiles industry in the country. Affoa will serve as the onestop network for fibers and textile manufacturers, system integrators, companies designing and developing products using fiber/textiles for various applications such as apparel, furniture and upholstery, technical textiles, advanced soldier and war fighter protection, space and aviation, automotive, personal and property protection, composites, geotextiles, sports and leisure, medical applications, agriculture and buildings. To enable this manufacturingbasedrevolution, affoa's goal is the transformation of traditional fibers, yarns and textiles into highly sophisticated integrated and networked devices and systems. To pursue this mission, affoa will address the spectrum of manufacturing challenges associated with volume manufacturing of revolutionary fibers and textiles from concept to end products through deliberate plans, projects and programs. Affoa provides an unpresented capability to rapidly and flexibly produce enditem prototypes through its unique collaborative infrastructure (fin) and suite of computational design tools that are the focus of affoa's development effort. Affoa will enable agile manufacturing innovation and transfer, prototyping and pilotproduction facilities for rapid product and project execution, workforce education, and dedicated startup incubators driving innovation for the entire u.s. Industry. In addition to advancing the textile manufacturing sector, affoa is structured to become selfsustainingby the end of five years or earlier.

Financial Efficiency

• Mission deployment rate: 75.4%; rating input score 75
• Program expense ratio: 81.9%; rating input score 82
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 87.5%; rating input score 88; 20th percentile among comparable filings
• Governance controls: 6 of 9 controls in place; rating input score 67
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 8%; rating input score 63; 63rd percentile among comparable filings
• Total-asset coverage ratio: 0.23; rating input score 5; 5th percentile among comparable filings
• Liabilities to assets ratio: 0.38; rating input score 38; 38th percentile among comparable filings
• Officer compensation ratio: 9.8%; rating input score 21; 21st percentile among comparable filings

Growth

• Program expense growth: 11% per year; rating input score 100; 74th percentile among comparable filings
• Revenue growth: 9.1% per year; rating input score 100; 70th percentile among comparable filings
• Asset growth: -0.7% per year; rating input score 0; 8th percentile among comparable filings