Modern Quilt Guild Inc
- Assets
- $471.3k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Los Angeles, CA
- Founding
- 08/2014
- Data as of
- 06/2022
- EIN
- 45-4151809
Organization Overview
Modern Quilt Guild Inc is located in Los Angeles, CA. The organization was established in 2014. 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, Modern Quilt Guild Inc employed 7 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Modern Quilt Guild 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, Modern Quilt Guild Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 9.2% 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
TO SUPPORT AND ENCOURAGE THE DEVELOPMENT OF MODERN QUILTING THROUGH ART,EDUCATION AND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
QUILTCON, OUT ANNUAL CONVENTION, RETURNED TO AN IN-PERSON FORMAT IN 2022 AFTER OCCURING AS A VIRTUAL EVENT IN 2021 DUE TO THE PANDEMIC. THE 2022 EVENT HAD MORE THAT 125 LECTURERS, WORKSHOPS, AND SOCIAL EVENTS AND ATTRACTED APPROXIMATELY 6,700 PEOPLE FROM 49 US STATES AND SEVERAL COUNTRIES. THE EVENT FEATURED MORE THAN 650 DISPLAYED QUILTS, INCLUDING A SPECIALLY CURATED EXHIBIT OF QUILTS CREATED BY INDIGENOUS MAKERS. THE ANNUAL EVENT CONNECTS QUILTERS OF ALL AGES. IN 2022, THE RETURN TO IN-PERSON WAS ESPECIALLY APPRECIATED BY ATTENDEES WHO HAD BEEN SO ISOLATED OVER THE PREVIOUS 23 MONTHS.
THE MODERN QUILT GUILD IS AN ARTSBASED MEMBERSHIP ORGANIZATION WITH OVER 17,000 MEMBERS WORLDWIDE. THE MODERN QUILT GUILD PROVIDES ONLINE COMMUNITY RESOURCES, PATTERNS, EDUCATION, AND OTHER BENEFITS TO ALL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Cooper Executive Director | Officer | 45 | $102,750 |
Heather Kinion Chairman And Regional Rep | OfficerTrustee | 5 | $0 |
Vikki Gray Treasurer And Board Memeber | OfficerTrustee | 2 | $0 |
Mary Anne Williams Secretary And Regional Board Rep | OfficerTrustee | 1 | $0 |
Candra Parker Regional Board Rep | Trustee | 2 | $0 |
Carol Cho Board Member (ended 12/31/21) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,660 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,660 |
| Total Program Service Revenue | $1,183,786 |
| Investment income | $570 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $9,843 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,206,669 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,650 |
| 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. | $99,087 |
| Compensation of current officers, directors, key employees. | $29,726 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $318,038 |
| Pension plan accruals and contributions | $8,552 |
| Other employee benefits | $23,264 |
| Payroll taxes | $30,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,590 |
| Fees for services: Accounting | $29,836 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,970 |
| Advertising and promotion | $0 |
| Office expenses | $13,311 |
| Information technology | $35,867 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18,527 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $817,816 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,646 |
| Insurance | $4,575 |
| All other expenses | $4,882 |
| Total functional expenses | $1,532,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,757 |
| Savings and temporary cash investments | $0 |
| 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 | $190,599 |
| Net Land, buildings, and equipment | $65,966 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $471,322 |
| Accounts payable and accrued expenses | $75,125 |
| Grants payable | $0 |
| Deferred revenue | $187,640 |
| 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 | $141,026 |
| Other liabilities | $0 |
| Total liabilities | $403,791 |
| Net assets without donor restrictions | $60,042 |
| Net assets with donor restrictions | $7,489 |
| 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 | $471,322 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Modern Quilt Guild Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Barnes Family Foundation Tucson, AZ PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Creative Visions Foundation Malibu, CA | $2,694,700 | $10,872,980 |
Glaziers Architectural Metal & Glass Workers Local Union 1399 Hea Covina, CA | $12,022,551 | $5,262,157 |
Phoenix Painting Industry Trust Fund Phoenix, AZ | $8,745,449 | $4,690,569 |
Elderheart Inc Sisters, OR | $6,200,437 | $6,066,501 |
Social And Public Art Resource Center Venice, CA | $5,398,489 | $1,298,270 |
Modern Quilt Guild Inc Los Angeles, CA | $471,322 | $1,206,669 |
Catchlight San Francisco, CA | $2,559,579 | $3,095,707 |
Self-Help Graphics And Arts Inc Los Angeles, CA | $7,358,688 | $2,282,621 |
California Anime Foundation Granada Hills, CA | $325,204 | $1,412,708 |
Bay Area Glass Institute Inc San Jose, CA | $1,447,752 | $1,103,523 |
Hui Noeau Makawao, HI | $6,399,050 | $1,181,820 |
American Society Of Media Photographers Inc San Francisco, CA | $534,568 | $1,162,030 |