The Mission of the North Carolina Textile Foundation is to promote the welfare, future development and reputation of the College of Textiles at North Carolina State University as the premier institution for textile education and research. As a nonprofit organization, the Foundation supports the College and Dean by providing funds for scholarships to deserving undergraduate and graduate students, recruitment and retention of highly qualified educators and researchers and placement of graduates. The Foundation also assists in the acquisition and maintenance of state-of-the-art equipment and facilities for research and education.

The College of Textiles at North Carolina State University began classes in the fall of 1899 due to Daniel Tompkins's interest in having a textile program at what was then the North Carolina College of Agriculture and Mechanic Arts. By 1901 construction began on Tompkins Hall, the first textile building at NC State. The college eventually needed more space for students and equipment so in 1940 the college moved to Nelson Hall on the western fringes of campus. By January 1991 the college moved to Centennial Campus.