Center For Furniture Craftsmanship
- Assets
- $18.1m
- Revenue
- $3.6m
- Investments
- $116.6k
- Employees
- 54
- Location
- Rockport, ME
- Founding
- 10/1998
- Data as of
- 12/2021
- EIN
- 01-0517984
Organization Overview
Center For Furniture Craftsmanship is located in Rockport, ME. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Center For Furniture Craftsmanship employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Furniture Craftsmanship is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Center For Furniture Craftsmanship generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 2.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE BEST POSSIBLE EDUCATION FOR PEOPLE WHO WANT TO DESIGN AND BUILD FUNCTIONAL, BEAUTIFUL, EXPRESSIVE WORK OUT OF WOOD TO THE HIGHEST STANDARD OF CRAFTSMANSHIP.
Describe the Organization's Program Activity:
OFFERED MORE THAN 40 COURSES IN FURNITURE MAKING, DESIGN, CARVING, AND FINISHING. COURSES LASTED FROM ONE WEEKEND TO NINE MONTHS, AND STUDENTS ENROLLED FROM ACROSS THE UNITED STATES AND FROM A NUMBER OF FOREIGN COUNTRIES. ALSO, OFFERED A FELLOWSHIP PROGRAM FOR EMERGING PROFESSIONAL FURNITURE MAKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Korn Executive Director | Officer | 50 | $130,775 |
Mark Tresnowski Vice President | OfficerTrustee | 3 | $0 |
Steve Vela Treasurer | OfficerTrustee | 2 | $0 |
Joan Welsh Secretary | OfficerTrustee | 3 | $0 |
David Ingram President | OfficerTrustee | 4 | $0 |
Katherine Pope Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,026,098 |
| Noncash contributions included in lines 1a–1f | $543,699 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,026,098 |
| Total Program Service Revenue | $942,047 |
| Investment income | $162,029 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $434,601 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$10,085 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,564,927 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $130,775 |
| Compensation of current officers, directors, key employees. | $34,841 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $750,801 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,394 |
| Payroll taxes | $70,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,243 |
| Advertising and promotion | $46,069 |
| Office expenses | $42,869 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,977 |
| Travel | $13,550 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,736 |
| Insurance | $28,251 |
| All other expenses | $22,783 |
| Total functional expenses | $1,508,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $570,376 |
| Savings and temporary cash investments | $279,331 |
| Pledges and grants receivable | $236,108 |
| Accounts receivable, net | $6,829 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $21,799 |
| Inventories for sale or use | $82,491 |
| Prepaid expenses and deferred charges | $29,986 |
| Net Land, buildings, and equipment | $1,197,200 |
| Investments—publicly traded securities | $15,518,724 |
| Investments—other securities | $116,622 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,059,466 |
| Accounts payable and accrued expenses | $61,273 |
| Grants payable | $0 |
| Deferred revenue | $297,376 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $148,197 |
| Total liabilities | $506,846 |
| Net assets without donor restrictions | $2,004,507 |
| Net assets with donor restrictions | $15,548,113 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $18,059,466 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Center For Furniture Craftsmanship has recieved totaling $749,650.
| Awarding Organization | Amount |
|---|---|
Fidelity Foundation Boston, MA PURPOSE: ENDOWMENT | $500,000 |
Kelson Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $100,000 |
Caulkins Family Foundation Denver, CO PURPOSE: SUPPORT EXEMPT PURPOSE | $50,000 |
The Lily Foundation Wayne, PA PURPOSE: GENERAL | $30,000 |
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Visual Arts | $15,500 |
David Wallace Smith And Joan Stowell Smith Charitable Foundatio Wilmington, DE PURPOSE: NINE MONTH COMPREHENSIVE PROGRAM; SCHOLARSHIP PROGRAM TO PROVIDE AN OPPORTUNITY TO PROMISING YOUNG WOODWORKERS THAT CAN'T AFFORD FULL TUITION | $15,000 |
Endowment Analysis
| Beg. Balance | $11,377,368 |
| Earnings | $1,674,728 |
| Net Contributions | $2,409,602 |
| Other Expense | $190,476 |
| Ending Balance | $15,271,222 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hand In Hand Mano En Mano Milbridge, ME | $3,858,038 | $3,802,182 |
Learning Skills Academy Rye, NH | $2,583,079 | $3,737,999 |
Northern Forest Center Inc Concord, NH | $6,912,392 | $6,530,935 |
Firebird Foundation For Anthropological Research Inc Phillips, ME | $38,180,874 | $27,021,507 |
Mayhew Bristol, NH | $9,621,685 | $2,244,853 |
Center For Furniture Craftsmanship Rockport, ME | $18,059,466 | $3,564,927 |
New Hampshire Center For Nonprofits Concord, NH | $1,113,431 | $1,215,167 |
Itnamerica Westbrook, ME | $1,190,041 | $1,376,313 |
Ashwood Waldorf School Rockport, ME | $1,586,448 | $849,073 |
Hannah Grimes Center Keene, NH | $2,383,366 | $934,536 |
Center For Anthroposophy Nashua, NH | $1,447,745 | $1,017,540 |
Associated General Contractors Of Maine Augusta, ME | $830,259 | $873,963 |