Weavers Guild Of Minnesota Inc
- Assets
- $329.9k
- Revenue
- $323.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Minneapolis, MN
- Founding
- 10/1974
- Data as of
- 08/2023
- EIN
- 23-7423013
Organization Overview
Weavers Guild Of Minnesota Inc is located in Minneapolis, MN. The organization was established in 1974. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 08/2023, Weavers Guild Of Minnesota Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Weavers Guild Of Minnesota Inc 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 08/2023, Weavers Guild Of Minnesota Inc generated $323.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $397.8k during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVING AND ADVANCING THE ARTS OF WEAVING, SPINNING AND DYEING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WEAVERS GUILD OF MINNESOTA OFFERED 226 PROGRAMS IN FY2023. WGM PROGRAMMED A VARIETY OF ACTIVITIES, INCLUDING MEMBERSHIP SKILL SHARING MEETUPS AND OPEN HOUSES ALONG WITH CLASSES AND WORKSHOPS OFFERED AT A RANGE OF PRICES FOR A VARIETY OF SKILL LEVELS. ACTIVITIES RANGE FROM BEGINNING-LEVEL COURSES IN WEAVING AND SPINNING TO ADVANCED, IN-DEPTH MASTER COURSES USING TRADITIONAL AND CONTEMPORARY APPROACHES. CONTINUED ON SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Rubin Member At Large | Trustee | 1 | $0 |
Mary Mateer Member At Large | Trustee | 1 | $0 |
Cass Markovich Member At Large | Trustee | 1 | $0 |
Dawn Severson Member At Large | Trustee | 1 | $0 |
Neal Goman Member At Large | Trustee | 1 | $0 |
Beth Varro Member At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $25,745 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $46,670 |
| All other contributions, gifts, grants, and similar amounts not included above | $61,416 |
| Noncash contributions included in lines 1a–1f | $25,105 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $133,831 |
| Total Program Service Revenue | $132,846 |
| Investment income | $2,762 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $53,830 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $323,699 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $154,776 |
| Pension plan accruals and contributions | $4,643 |
| Other employee benefits | $21,159 |
| Payroll taxes | $19,665 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,073 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $51,734 |
| Advertising and promotion | $3,254 |
| Office expenses | $1,729 |
| Information technology | $7,952 |
| Royalties | $0 |
| Occupancy | $67,361 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,824 |
| Insurance | $4,237 |
| All other expenses | $10,145 |
| Total functional expenses | $397,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,171 |
| Savings and temporary cash investments | $142,701 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $40,187 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $86,484 |
| Investments—publicly traded securities | $8,375 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,000 |
| Total assets | $329,918 |
| Accounts payable and accrued expenses | $5,606 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $30,458 |
| Total liabilities | $36,064 |
| Net assets without donor restrictions | $293,734 |
| Net assets with donor restrictions | $120 |
| 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 | $329,918 |