Mid-West Tool Collectors Association Inc
- Assets
- $1.1m
- Revenue
- $248.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Harrisonburg, VA
- Founding
- 05/1986
- Data as of
- 12/2021
- EIN
- 52-1370394
Organization Overview
Mid-West Tool Collectors Association Inc is located in Harrisonburg, VA. The organization was established in 1986. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-West Tool Collectors Association 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 12/2021, Mid-West Tool Collectors Association Inc generated $248.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $133.4k during the year ending 12/2021. While expenses have increased by 1.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
STUDYING, PRESERVING AND SHARING KNOWLEDGE OF TOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLICATION OF THE GRISTMILL FOUR TIMES PER YEAR. IN 2019, THE FOUR ISSUES TOTALED 240 PAGES OF WHICH 150 PAGES WERE DEDICATED TO 40 RESEARCHED ARTICLES ON ANTIQUE TOOLS AND IMPLEMENTS. THE BALANCE REPORTED ON COMITTEE MEETINGS, AUXILIARY ACTIVITIES, OBITUARIES AND ADVERTISING AS WELL AS NATIONAL AND AREA MEETINGS. AUTHORS ARE NOT COMPENSATED FOR THEIR PUBLISHED ARTICLES.FORTY-TWO HUNDRED COPIES OF EACH ISSUE ARE PRINTED WITH 3,900 DISTRIBUTED TO THE MEMBERS AND THE BALANCE GIVEN TO NEW MEMBERS WHEN THEY JOIN.A MEMBERSHIP DIRECTORY IS ISSUED TO ALL 3,900 MEMBERS AND NEWLY JOINING MEMBERS AND INCLUDES THE ORGANIZATIONS BY LAWS AND MISSION STATEMENT AS WELL AS A LISTING OF OFFICERS AND DIRECTORS.
A MEMBERSHIP DIRECTORY IS PROVIDED TO EACH OF THE 3,850 MEMBERS WHICH INCLUDES THE ORGANIZATION BY-LAWS AND MISSION, ORGANIZATION OPERATING POLICIES, AND A LISTING OF OFFICERS AND DIRECTORS. PERIODICALLY, WITH A GOAL OF ANNUALLY, A SPECIAL PUBLICATION WILL BE ISSUED TO THE MEMBERSHIP TO PROVIDE HISTORY OF THE TRADES.
TEN SCHOLARSHIPS OF $1,500 EACH WERE AWARDED TO STUDENTS ATTENDING COLLEGE. THERE ARE NO RESTRICTIONS ON WHO MAY APPLY FOR A SCHOLARSHIP OTHER THAN IT MUST BE APPLIED TO THE COST OF A TWO OR FOUR YEAR DEGREE. THE EXECUTIVE COMMITTEE AND SCHOLARSHIP COMMITTEE MEMBERS AND THEIR FAMILY MEMBERS ARE NOT ELIGIBLE TO BE AWARDED THE SCHOLARSHIPS.
THE MWTCA EDUCATION AND PRESERVATION COMMITTEE WORKS WITH VARIOUS AROUND THE COUNTRY THE MT. VERNON LADIES SOCIETY AND THOMAS JEFFERSONS POPULAR FOREST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Bradshaw Secretary & Director Of Area | OfficerTrustee | 2 | $0 |
Mark Eastlick President | OfficerTrustee | 4 | $0 |
Kris Wallace Treasurer | OfficerTrustee | 15 | $0 |
Larry Thorson VP Meeting Planning | OfficerTrustee | 6 | $0 |
Kerry Mccalla VP Scholarship | OfficerTrustee | 2 | $0 |
Dwight Trahin Director Area O | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $85,463 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $134,096 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $219,559 |
| Total Program Service Revenue | $6,563 |
| Investment income | $22,463 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $248,585 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,021 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $30,781 |
| Compensation of current officers, directors, key employees. | $27,781 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $342 |
| Advertising and promotion | $0 |
| Office expenses | $6,522 |
| Information technology | $683 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,085 |
| All other expenses | $914 |
| Total functional expenses | $133,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,509 |
| Savings and temporary cash investments | $718,688 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,208 |
| Total assets | $1,126,405 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $1,126,405 |
| Total liabilities and net assets/fund balances | $1,126,405 |
Endowment Analysis
| Beg. Balance | $100,000 |
| Earnings | $1,510 |
| Net Contributions | $100,000 |
| Ending Balance | $201,510 |
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