Wool For Worthy Causes is located in Ojai, CA. The organization was established in 2014. According to its NTEE Classification (T31) the organization is classified as: Community 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. Wool For Worthy Causes 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 12/2016, Wool For Worthy Causes generated $25.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (24.3%) each year. All expenses for the organization totaled $48.4k during the year ending 12/2016. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2016
Describe the Organization's Program Activity:
Part 3
AFTER YEARS OF EFFORT BY MANY VOLUNTEERS, THE FLOW OF DONATED WOOL HAS BEEN WELL ESTABLISHED. THERE ARE VOLUNTEER LABOR SHORTAGES IN THE GATHERING AND SORTING, BUT THE CONCEPTS IS PROVEN. THIS YEAR, FOR THE FIRST TIME, WFWC IS NOW HANDING OUT RECYCLED, REPAIRED WOOL PACKS, COURTESY OF CHARGEURS USA. IF WFWC CAN FIND A MARKET, WE WILL USE THESE WOOL PACKS WE REPAIR TO RAISE FUNDS TO COVER ALL REPAIR AND TRANSPORTATION COSTS, AND MAYBE GENERATE A SOURCE OF FUNDS TO COVER SOME OF OUR OVERHEAD, TINY AS IT IS. MOST APPRECIATED THIS YEAR WAS THE FLATTERING ARTICLE IN CALIFORNIA BOUNTIFUL, BOTH IN PRINT AND ON LINE. CALIFORNIA BOUNTIFUL IS THE OUTREACH VEHICLE FOR THE CALIFORNIA FARM BUREAU. THOSE INTERVIEWED SPOKE FROM THEIR HEART, WITH NO BENEFIT SAVE THE OPPORTUNITY TO SHARE WITH OTHERS WHAT THEY WERE DOING AND WHY THEY WERE DOING IT. ALABAMA INDUSTRIES FOR THE BLIND, OUR INTENDED RECIPIENT, IS STILL ENGAGED IN LINKING THEMSELVES TO A LARGE CONSUMER OF WOOL BLANKETS. WE WATCH AND WAIT AND HOPE. MEANWHILE, WE DO WHAT WE HAVE COMMITTED TO DO, GATHER THE WOOL AND PASS IT ON AT OUR LOW COST TO THEM. FINALLY, OUR FINANCES REMAIN DEPENDENT ON ONE LENDER, OUR DIRECTOR. WE HAVE NOT YET ACCESSED THE REIMBURSEMENT OF VALUE FOR THE DONATED WOOL WE HOLD AND HAVE NOT YET PLACED.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Raymond Sarna President | 5 | $0 | |
Conor Bright Treasurer | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $25,584 |
Total Program Service Revenue | $0 |
Membership dues | $0 |
Investment income | $0 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $0 |
Other Revenue | $0 |
Total Revenue | $25,584 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $0 |
Professional fees and other payments to independent contractors | $2,559 |
Occupancy, rent, utilities, and maintenance | $2,750 |
Printing, publications, postage, and shipping | $749 |
Other expenses | $42,381 |
Total expenses | $48,439 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $2,454 |
Other assets | $0 |
Total assets | $227,822 |
Total liabilities | $257,458 |
Net assets or fund balances | -$29,636 |
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