The Folk School
- Assets
- $391.7k
- Revenue
- $274.6k
- Investments
- $138.0k
- Employees
- 3
- Location
- Fairbanks, AK
- Founding
- 04/2012
- Data as of
- 12/2023
- EIN
- 45-2974643
Organization Overview
The Folk School is located in Fairbanks, AK. The organization was established in 2012. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 12/2023, Folk School employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Folk School 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 12/2023, Folk School generated $274.6k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $269.1k during the year ending 12/2023. While expenses have increased by 10.9% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOLK SCHOOL, IN KEEPING WITH A 200-YEAR-OLD TRADITION, IS DEDICATED TO ENRICHING LIVES AND BUILDING COMMUNITY BY PASSING ON SKILLS AND PERSONAL KNOWLEDGE IN A NURTURING ENVIRONMENT. THE FOLK SCHOOL PROVIDES YEAR-ROUND, AFFORDABLE PROGRAMS IN A VARIETY OF HANDS-ON DISCIPLINES
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINING A NON-COMPETITIVE, NURTURING, MULTIGENERATIONAL EDUCATIONAL MODEL THAT FOSTERS THE USE OF INDIGENOUS MATERIALS AND PROVIDES UNIQUE LEARNING OPPORTUNITIES, AND HONES SKILL-BASED CRAFTS SUCH AS WOODWORKING, SEWING, ART, COOKING, MUSIC, CREATIVE WRITING, AND MORE. PROVIDING AN ORGANIZATIONAL STRUCTURE AND SPACE FOR REGULAR, ONGOING HOME-SCHOOL CLASSES AND ACTIVITIES. SERVING AS A MEETING PLACE FOR CLUBS AND ORGANIZATIONS. ESTABLISHING LONG-TERM PROGRAMS THAT ENCOURAGE COMMUNITY INVOLVEMENT. PROVIDING SPACE FOR FAMILIES TO CREATE AND LEARN TOGETHER IN A HEALTHY, SLOW-PACED, HANDS-ON WAY. CREATING A SLOW, CREATIVE, THOUGHTFUL SPACE WHERE PEOPLE OF ALL AGES CAN LEARN SKILLS THAT TAKE TIME, PATIENCE, AND BASIC HUMAN CONNECTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kuowei Lee Board Member | Trustee | 1 | $0 |
Michael Whalen Board Member | Trustee | 1 | $0 |
Randall Rozier President | Officer | 1 | $0 |
Matthew Labrenz Secretary | Officer | 1 | $0 |
Gordon Williams Vice President | Officer | 1 | $0 |
Douglas Bishop Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,333 |
| All other contributions, gifts, grants, and similar amounts not included above | $104,176 |
| Noncash contributions included in lines 1a–1f | $21,173 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $122,509 |
| Total Program Service Revenue | $131,229 |
| Investment income | $3,850 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$435 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $17,495 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,648 |
| 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 | $76,155 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,587 |
| Fees for services: Management | $13,846 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,951 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,834 |
| Fees for services: Other | $58,412 |
| Advertising and promotion | $6,989 |
| Office expenses | $7,032 |
| Information technology | $8,719 |
| Royalties | $0 |
| Occupancy | $20,264 |
| Travel | $500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $618 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,064 |
| Insurance | $7,910 |
| All other expenses | $739 |
| Total functional expenses | $269,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,692 |
| Savings and temporary cash investments | $108,314 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $304 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,950 |
| Net Land, buildings, and equipment | $37,339 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $138,015 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $120 |
| Total assets | $391,734 |
| Accounts payable and accrued expenses | $91 |
| 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 | $147,484 |
| Total liabilities | $147,575 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $244,159 |
| Total liabilities and net assets/fund balances | $391,734 |