Handicraft Club Inc
- Assets
- $8.9m
- Revenue
- $624.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Providence, RI
- Founding
- 06/1926
- Data as of
- 06/2022
- EIN
- 05-0258879
Organization Overview
Handicraft Club Inc is located in Providence, RI. 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, Handicraft Club Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Handicraft Club 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, Handicraft Club Inc generated $624.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $430.4k during the year ending 06/2022. While expenses have increased by 6.5% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TEACHING, PRACTICING, AND ENCOURAGING ALL KINDS OF ARTISTIC HANDICRAFT WORK THROUGH LECTURES AND CLASS STUDIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A SIGNIFICANT AMOUNT OF PROGRAM REVENUES WERE GENERATED BY THE INCREASED PARTICIPATION IN OUR EXTENSIVE ARTS AND CRAFTS, COURSES, LECTURES AND STUDIO PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Lederer President | OfficerTrustee | 1 | $0 |
Sara Carcieri First Vice President | OfficerTrustee | 1 | $0 |
Liza Mccahan Second Vice President | OfficerTrustee | 1 | $0 |
Stacy Emmanuel Recording Secretary | OfficerTrustee | 1 | $0 |
Amabel Allen Treasurer | OfficerTrustee | 1 | $0 |
Marilyn Shealey Assistant Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $70,875 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,184 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,793 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $102,852 |
| Total Program Service Revenue | $71,892 |
| Investment income | $171,579 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $238,045 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $624,828 |
| 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 | $120,656 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,990 |
| Payroll taxes | $15,302 |
| 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 | $6,075 |
| Advertising and promotion | $0 |
| Office expenses | $16,770 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,509 |
| 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 | $51,466 |
| Insurance | $14,853 |
| All other expenses | $7,199 |
| Total functional expenses | $430,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,670 |
| Savings and temporary cash investments | $354,201 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,325,927 |
| Investments—publicly traded securities | $7,163,716 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,878,514 |
| Accounts payable and accrued expenses | $5,000 |
| Grants payable | $0 |
| Deferred revenue | $73,975 |
| 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 | $78,975 |
| Net assets without donor restrictions | $8,786,491 |
| Net assets with donor restrictions | $13,048 |
| 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 | $8,878,514 |