Furniture Library Association
- Assets
- $5.4m
- Revenue
- $126.2k
- Investments
- $4.7m
- Employees
- 0
- Location
- High Point, NC
- Founding
- 12/2015
- Data as of
- 06/2023
- EIN
- 23-7249036
Organization Overview
Furniture Library Association is located in High Point, NC. The organization was established in 2015. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Furniture Library Association 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 06/2023, Furniture Library Association generated $126.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $301.4k during the year ending 06/2023. While expenses have increased by 2.9% 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.
Since 2015, Furniture Library Association has awarded 58 individual grants totaling $142,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN LIBRARY FOR RESEARCH AND STUDY OF FURNITURE MANUFACTURE AND DESIGN
SCHOLARSHIPS FOR STUDY OF FURNITURE DESIGN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karla Jones Executive Di | 40 | $60,933 | |
Christi Spangle Board Of Dir | 0.25 | $0 | |
Dudley Moore Jr President | 1 | $0 | |
Penn Wood Treasurer | 0.5 | $0 | |
Sarah Stevenson Secretary | 0.5 | $0 | |
June Anderson Board Of Dir | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $79,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $116,576 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$69,392 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $126,184 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,933 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $10,127 |
| Interest | $0 |
| Taxes | $1,135 |
| Depreciation | $49,955 |
| Occupancy | $13,728 |
| Travel, conferences, and meetings | $295 |
| Printing and publications | $0 |
| Other expenses | $130,701 |
| Total operating and administrative expenses | $273,374 |
| Contributions, gifts, grants paid | $28,000 |
| Total expenses and disbursements | $301,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,924 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,513 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $404,857 |
| Other assets | $0 |
| Total assets | $5,377,185 |
| Accounts payable and accrued expenses | $1,377 |
| Grants payable | $0 |
| Deferred revenue | $32,700 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $34,077 |
Grants Awarded
Over the last fiscal year, Furniture Library Association has awarded $28,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
MARIANA ANZURES PURPOSE: EDUCATIONAL | $5,000 |
UNIVERSITY OF HOUSTON PURPOSE: EDUCATIONAL | $1,000 |
SEBASTIAN SOLLOA PURPOSE: EDUCATIONAL | $1,500 |
ELLE YANEZ PURPOSE: EDUCATIONAL | $5,000 |
SADDLEBACK COLLEGE FOUNDATION PURPOSE: EDUCATIONAL | $1,000 |
ELIZABETH HOLTZCLAW PURPOSE: EDUCATIONAL | $1,500 |