Worcester Center For Crafts Inc
- Assets
- $2.4m
- Revenue
- $994.1k
- Investments
- $0.0
- Employees
- 45
- Location
- Worcester, MA
- Founding
- 08/1926
- Data as of
- 06/2022
- EIN
- 04-2105859
Organization Overview
Worcester Center For Crafts Inc is located in Worcester, MA. The organization was established in 1926. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Worcester Center For Crafts Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Worcester Center For Crafts 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 06/2022, Worcester Center For Crafts Inc generated $994.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $821.0k during the year ending 06/2022. While expenses have increased by 1.0% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER INTEREST, UNDERSTANDING, AND ASSISTANCE TO INDIVIDUALS OF ALL AGES THROUGH EDUCATION IN THE CRAFTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL - TO FOSTER INTEREST, UNDERSTANDING AND ASSISTANCE TO INDIVIDUALS OF ALL AGES THROUGH EDUCATION IN THE CRAFTS.
CRAFT FAIRS/GALLERY STORE & EVENTS - CRAFT FAIRS ARE HELD ANNUALLY FEATURING FINE CRAFTS BY PROFESSIONAL ARTISTS. THESE FAIRS ARE JURIED EVENTS AND FEATURE WORK SIMILAR TO THE GALLERY EXHIBITS. THE GALLERY STORE SUPPORTS THE CENTER'S MISSION BY PROMOTING ENTREPRENEURIALSHIP. EXHIBITS - THE CRAFT CENTER IN-PART SUPPORTS ITS MISSION BY EXHIBITING STUDENT, FACULTY AND GUEST ARTIST'S WORK IN ITS GALLERY SPACE FROM TIME TO TIME THROUGHOUT THE YEAR. THE EXHIBITS ARE GENERALLY IN MEDIUMS TAUGHT AT THE CRAFT CENTER SUCH AS GLASS, CERAMICS, METALS AND PHOTOGRAPHY. IN MOST CASES, THE CRAFT WORK IS AVAILABLE FOR PURCHASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Cutler Director | Trustee | 5 | $0 |
Kathleen M Eichelroth Treasurer | OfficerTrustee | 5 | $191,275 |
Thomas M Mcnamara Clerk | OfficerTrustee | 5 | $196,822 |
Michael Lorion Director | Trustee | 5 | $0 |
Dr Roberta L Kyle Director | Trustee | 5 | $141,185 |
Sheila Tetler Chair | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $318,011 |
| Investment income | $810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $250,000 |
| Net Gain/Loss on Asset Sales | -$42,984 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$14,915 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $994,127 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,264 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $628,774 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $111,014 |
| Payroll taxes | $23,540 |
| Fees for services: Management | $40,040 |
| 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 | $0 |
| Advertising and promotion | $26,222 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $127,996 |
| Travel | $0 |
| 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 | $75,386 |
| Insurance | $21,384 |
| All other expenses | $0 |
| Total functional expenses | $821,011 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $477,151 |
| Savings and temporary cash investments | $230,147 |
| Pledges and grants receivable | $3,188 |
| 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 | $80,888 |
| Prepaid expenses and deferred charges | $13,030 |
| Investments—publicly traded securities | $788,794 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $300 |
| Total assets | $2,418,623 |
| Accounts payable and accrued expenses | $137,982 |
| Grants payable | $0 |
| Deferred revenue | $88,765 |
| 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 | $0 |
| Total liabilities | $226,747 |
| Net assets without donor restrictions | $1,855,830 |
| Net assets with donor restrictions | $336,046 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $2,191,876 |