2025-04-24T09:23:14-05:00 2024-06-30 471096596 RAFFOL AND COMPANY INC 105 CHESTNUT ST SUITE 11 NEEDHAM MA 02492 990 2023-07-01 474830465 ADVANCED FUNCTIONAL FABRICS OF AMERICA INC ADVA 6174466738 12 EMILY STREET 2 CAMBRIDGE MA 02139 STEPHEN MATTOX CONTROLLER 6174466738 2025-04-24 1 0 JONATHAN VITALE P01922134 7814444926 2025-04-24 2023 2025-03-06 01:10:19Z STEPHEN MATTOX 12 EMILY STREET NO 2 CAMBRIDGE MA 02139 18800387 0 X WWW.AFFOA.ORG X 2015 MA AFFOA IS A PUBLIC-PRIVATE PARTNERSHIP AMONG GOVERNMENT. ACADEMIA AND INDUSTRY, ESTABLISHED TO BUILD AND SUSTAIN U.S. GLOBAL LEADERSHIP IN THE REVOLUTIONARY FIBERS AND TEXTILES BY ACCELERATING THE WIDESPREAD COMMERICIALIZATION OF HIGHLY FUNCTIONAL ADVANCED FIBRES AND TEXTILES FOR DEFENSE AND COMMERCIAL MARKETS. 12 12 41 0 0 0 10936472 18479079 11151504 238424 0 21384 0 0 22087976 18738887 0 0 0 0 7965022 7378389 0 0 0 17849241 13542959 25814263 20921348 -3726287 -2182461 10967169 7671083 8026388 6912763 2940781 758320 X AFFOA IS A PUBLIC-PRIVATE PARTNERSHIP AMONG GOVERNMENT. ACADEMIA AND INDUSTRY, ESTABLISHED TO BUILD AND SUSTAIN U.S. GLOBAL LEADERSHIP IN THE REVOLUTIONARY FIBERS AND TEXTILES BY ACCELERATING THE WIDESPREAD COMMERICIALIZATION OF HIGHLY FUNCTIONAL ADVANCED FIBRES AND TEXTILES FOR DEFENSE AND COMMERCIAL MARKETS. 0 0 17620667 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. 17620667 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 28 0 1 41 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 1 1 0 MA X STEPHEN MATTOX 6174466738 12 EMILY STREET NO 2 CAMBRIDGE MA 02139 ALEXANDER STOLYAROV CEO/PRESIDENT 50.00 X X 366003 0 42594 PAUL KERN CHAIRMAN OF BOARD 2.00 X X 100000 0 0 JOHN FRY CHAIRMAN OF COMPENSATION C 2.00 X 10000 0 0 ERIC SPACKEY BOARD MEMBER 2.00 X 0 0 0 CHARLES HOWLAND CHAIR OF GOVERNANCE & NOMI 2.00 X 10000 0 0 NORMAN CHAPMAN BOARD MEMBER 2.00 X 0 0 0 IRA MOSKOWITZ BOARD MEMBER 2.00 X 0 0 0 DR JOYCE BROWN BOARD MEMBER 2.00 X 0 0 0 CARLOYN KIRK BOARD MEMBER 2.00 X 0 0 0 DAVID WHEELER BOARD MEMBER 2.00 X 0 0 0 WALTER SMITH CHAIR OF AUDIT COMMITTEE 2.00 X 10000 0 0 ELISABETH REYNOLDS BOARD MEMBER 2.00 X 0 0 0 MICHELLE FARRINGTON VP STRATEGIC GROWTH 40.00 X 325229 0 21933 RICHARD SALVAGE EX-VP OF FINANCE 40.00 X 214986 0 23305 EDIN INSANIC PRINCIPAL SYSTEM ARCHITECT AND GROUP LEAD 40.00 X 209698 0 36802 NATASHA SPACKEY VP NEW BUSINESS DEVELOPMENT AND PARTNERSHIPS 40.00 X 207828 0 28674 1453744 0 153308 5 1 1 0 JENNIFER MCCABE 12 EMILY STREET NO 2 CAMBRDIGE MA 02139 GENERAL COUNSEL 443646 GOODWIN PROCTOR LLP 12 EMILY STREET NO 2 CAMBRDIGE MA 02139 GENERAL COUNSEL 159935 CLIFTONLARSENALLEN LLP 12 EMILY STREET NO 2 CAMBRDIGE MA 02139 ACCOUNTING 120055 3 18479079 18479079 MEMBERSHIP REVENUE 541700 130042 130042 PROPERIETARY AND OTHER REVENUE 541700 108382 108382 238424 27750 27750 55134 61500 -6366 -6366 -6366 18738887 259808 0 0 X 1293530 905470 388060 3900429 1921635 1978794 1752943 1752943 431487 431487 634994 634994 64000 64000 8771538 8771538 1025241 339360 685881 1464916 1464916 94297 41375 52922 1102843 1102843 120012 120012 MISCELLANOUS 137609 4139 133470 MATERIALS 102509 65955 36554 BAD DEBT EXPENSE 25000 25000 20921348 17620667 3300681 0 X 3236067 1660927 869893 523723 451073 1489816 249918 246976 10668720 10049448 1702913 619272 4457305 3130369 10967169 7671083 2654288 1104795 123009 1230267 723657 152138 4525434 4425563 8026388 6912763 X 2940781 758320 2940781 758320 10967169 7671083 -2182461 0 X 0 1 X 1 1 1 X 14480126 23927686 19385108 10936472 18479079 87208471 14480126 23927686 19385108 10936472 18479079 87208471 87208471 27750 27750 87236221 0.99970 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 723657 571519 152138 1 4483099 4329721 153378 5998385 5613277 385108 187236 106450 80786 619272 OPERATING RIGHT OF USE ASSET 3130369 3130369 LEASE LIABILITY 3225563 LINE OF CREDIT 1200000 4425563 X 18745253 0 18745253 -6366 -6366 18738887 20921348 0 20921348 0 20921348 PART X, LINE 2: AFFOA ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRUIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AFFOA HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITIONOR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2023. AFFOA'S INFORMATION RETURNS ARE SUBSJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS X X X 0 0 0 0 0 0 0 0 0 ALEXANDER STOLYAROV CEO/PRESIDENT 366003 0 0 0 0 0 21894 0 20700 0 408597 0 0 0 MICHELLE FARRINGTON VP STRATEGIC GROWTH 325229 0 0 0 0 0 1233 0 20700 0 347162 0 0 0 EDIN INSANIC PRINCIPAL SYSTEM ARCHITECT AND GROUP 209698 0 0 0 0 0 21921 0 14881 0 246500 0 0 0 RICHARD SALVAGE EX-VP OF FINANCE 214986 0 0 0 0 0 8905 0 14400 0 238291 0 0 0 NATASHA SPACKEY VP NEW BUSINESS DEVELOPMENT AND PART 207828 0 0 0 0 0 14367 0 14307 0 236502 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MASSACHUSETTS INSTITUTE OF TECHNOLOGY, A NONPROFIT CORPORATION, AS THE SOLE MEMBER HAS THE POWER TO ELECT BOARD MEMBERS FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER HAS THE POWER TO ELECT BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B THE SOLE MEMBER HAS THE RIGHT TO APPROVE AMENDMENTS TO THE ORGANIZING DOCUMENTS AND BYLAWS, AS WELL AS THE RIGHT TO APPROVE DISSOLUTION FORM 990, PART VI, SECTION B, LINE 11B MIT, A RELATED PARTY, REVIEWS THE 990, ALONG WITH THE AFFOA MANAGEMENT (INCLUDING THE TREASURER). FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE MIT (RELATED PARTY) LEGAL/TAX DEPARTMENT SEND A CONFLICT OF INTEREST QUESTIONAIRE TO ALL BOARD MEMBERS AND OFFICERS, COMPILES, REVIEWS AND REPORTS THE RESPONSES TO AFFOA MANAGEMENT FORM 990, PART VI, SECTION B, LINE 15 IN DETERMINING THE COMPENSATION FOR THE CEO, CHAIRMAN OF THE BOARD AND OTHER OFFICERS OF THE CORPORATION, AFFOA LOOKED TO THE COMPARABLE SALARIES OF OTHER SIMILARLY SITUATED COMPANIES. THE PROCESS OF DETERMINING COMPENSATION AND THE REMUNERATION TO BE PAID TO THE CHAIRMAN WAS APPROVED BY 2 INDEPENDENT MEMBERS OF THE CORPORATION'S COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ALL DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G SUBCONTRACTORS: PROGRAM SERVICE EXPENSES 7,828,482. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,828,482. CONSULTANTS: PROGRAM SERVICE EXPENSES 943,056. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 943,056. MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVENUE CAMBRIDGE MA 02139 042103594 RESEARCH AND EDUCATION MA 501(C)(3) LINE 2 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0