American Association Of Woodturners
- Assets
- $2.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 6
- Location
- St Paul, MN
- Founding
- 01/2012
- Data as of
- 12/2021
- EIN
- 45-3809279
Organization Overview
American Association Of Woodturners is located in St Paul, MN. The organization was established in 2012. 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 12/2023, American Association Of Woodturners employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Association Of Woodturners 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 12/2021, American Association Of Woodturners generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATION, INFORMATION AND ORGANIZATION TO THOSE INTERESTED IN WOODTURNING.
Describe the Organization's Program Activity:
THE AAW INTERNATIONAL WOODTURNING SYMPOSIUM, HELD IN CHATTANOOGA, TN WAS ATTENDED BY MORE THAN 1,000 REGISTERED ATTENDEES AND APPROXIMATELY 500 MORE FROM THE PUBLIC. HELD OVER FOUR DAYS, THIS ANNUAL EVENT IS THE WORLD'S LARGEST GATHERING OF WOODTURNING ENTHUSIASTS AND OFFERS A PREMIER LEARNING OPPORTUNITY FOR WOODTURNERS.
IN 2022, THE AAW DISBURSED $12,087 IN CASH GRANTS UNDER OUR EDUCATIONAL OPPORTUNITY GRANTS PROGRAM TO INDIVIDUALS, AFFILIATED LOCAL CHAPTERS AND SCHOOLS AND EDUCATIONAL INSTITUTIONS. THESE EOG GRANTS SUBSTANTIALLY INCREASE THE AAW'S REACH TO PROVIDE TANGIBLE LEARNING AND SERVICE OPPORTUNITIES. CHARITABLE DONATIONS OF ARTWORK BY OUR MEMBERS PROVIDE THE SOURCE OF GRANT FUNDING FOR THIS IMPORTANT EDUCATIONAL PROGRAM.
THE AAW IS THE LEADING TRUSTED RESOURCE IN WOODTURNING EDUCATION AND EXECUTING OUR STRATEGY TO BECOME THE PREMIER WORLD-WIDE WOODTURNING EDUCATOR. THE AAW PUBLISHES A HIGH-QUALITY EDUCATIONAL JOURNAL, AMERICAN WOODTURNER, WHICH IS DISTRIBUTED TO ALL MEMBERS. CONTENT COVERS A BROAD RANGE OF TOPICS IMPORTANT TO THE WOODTURNING COMMUNITY. THE AAW IS ALSO HEAVILY VESTED IN THE DIGITAL LEARNING SPACE ENABLING ACCESS TO NEARLY 40 YEARS OF INTELLECTUAL PROPERTIES.
TOTAL MEMBERSHIP AT THE END OF 2022 WAS APPROXIMATELY 14,200. MEMBERSHIP RETENTION AND ACQUISITION OF NEW MEMBERS ARE CRITICAL PERFORMANCE MEASURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Summerer President | OfficerTrustee | 30 | $0 |
Linda Britt President/vice President | OfficerTrustee | 20 | $0 |
Chuck Lobaito Trustee 72522 Treasurer/endowment Trustee | OfficerTrustee | 20 | $0 |
Jay Brown Secretary | OfficerTrustee | 20 | $0 |
John Beechwood III Director | Trustee | 20 | $0 |
Kc Kendall Director | Trustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $87,388 |
| All other contributions, gifts, grants, and similar amounts not included above | $80,979 |
| Noncash contributions included in lines 1a–1f | $4,395 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $168,367 |
| Total Program Service Revenue | $1,148,810 |
| Investment income | $11,291 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,128 |
| Net Income from Fundraising Events | $34,182 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $34,025 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,435,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,296 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,119 |
| Compensation of current officers, directors, key employees. | $23,308 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $320,668 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $30,909 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,186 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,124 |
| Advertising and promotion | $19,300 |
| Office expenses | $108,760 |
| Information technology | $72,977 |
| Royalties | $0 |
| Occupancy | $52,852 |
| Travel | $36,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,752 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,284 |
| Insurance | $51,226 |
| All other expenses | $7,219 |
| Total functional expenses | $1,329,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $450 |
| Savings and temporary cash investments | $533,985 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,632 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,766 |
| Prepaid expenses and deferred charges | $47,629 |
| Net Land, buildings, and equipment | $56,485 |
| Investments—publicly traded securities | $1,325,535 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $448,690 |
| Total assets | $2,442,172 |
| Accounts payable and accrued expenses | $76,101 |
| Grants payable | $0 |
| Deferred revenue | $555,987 |
| 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 | $632,088 |
| Net assets without donor restrictions | $1,355,275 |
| Net assets with donor restrictions | $454,809 |
| 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 | $2,442,172 |