Craft Yarn Council Of America Inc
- Assets
- $136.4k
- Revenue
- $176.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Carrollton, TX
- Founding
- 03/1983
- Data as of
- 03/2023
- EIN
- 56-1303596
Organization Overview
Craft Yarn Council Of America Inc is located in Carrollton, TX. The organization was established in 1983. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 03/2023, Craft Yarn Council Of America Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Craft Yarn Council Of America Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 03/2023, Craft Yarn Council Of America Inc generated $176.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.5%) each year. All expenses for the organization totaled $301.3k during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCH O
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDUSTRY PROMOTION - HUMANS THAT YARN CAMPAIGN TO SHOWCASE ALL THE DIFFERENT TYPES OF CRAFTS THAT CAN BE MADE WITH YARN AND DIFFERENT TYPES OF PEOPLE WHO IDENTIFY AS A YARNIST. AS WELL AS TEACHING WORKSHOPS AND PARTICIPATION IN OTHER CRAFT SHOWS TO PROMOTE THE YARN INDUSTRY. I LOVE YARN DAY AND THE GREAT YARN CHALLANGE ARE PROGRAMS TO RAISE PUBLIC AWARENESS ACROSS THE COUNTRY ON A SPECIFIC DAY EACH YEAR. SPREADING THE GOOD FEELING PEOPLE GET FROM YARN AND YARN-RELATED CRAFTS IS WHAT THESE EVENTS AREALL ABOUT. CONSUMERS ARE ENCOURAGED TO PARTICIPATE BY MAKING A YARN CRAFT OR PROJECT TO DECLARE LOVE FOR YARN.
CLASSES ARE OFFERED ON-SITE OR VIA CORRESPONDENCE AND COVER TECHNICAL SKILLS AS WELL AS THE SPECIFICS OF HOW TO TEACH THESE SKILLS TO OTHERS. AN ON-SITE CLASS INCLUDES BETWEEN 15-17 HOURS OF INTENSIVE HANDS-ON INSTRUCTION WITH A MASTER TEACHER. THE CORRESPONDENCE PROGRAM COVERS THE SAME INFORMATION. PARTICIPANTS WORK IS REVIEW PERSONALLY BY ONE OF THE PROGRAMS MASTER TEACHERS THROUGH A COMBINATION OF WRITTEN WORK AND TELEPHONE INTERVIEWS. THE PROGRAM IS ALSO OFFERED AS PART OF THE FASHION INSTITUTE OF TECHNOLOGYS (FIT) CONTINUING EDUCATION PROGRAM. FIT, WHICH IS BASED IN NEW YORK CITY, OFFERS CIP PARTICIPANTS WHO COMPLETE THE PROGRAM DEGREE CREDIT(S).
THE COUNCIL ALSO MAINTAINS A DATABASE OF CIP GRADUATES AND ALERTS THEM TO JOB OPPORTUNITIES IN THE COMMUNITIES. IN ADDITION, MANY GRADUATES GO ON TO FIND JOBS TEACHING IN RETAIL STORES OR VOLUNTEERING IN SCHOOLS AND OTHER VENUES ON THEIR OWN. BY TRAINING TEACHERS, THE COUNCIL IS FULFILLING THE MANDATE OF ITS MEMBERS TO RAISE AWARENESS OF YARN RELATED SKILLS SUCH AS KNITTING AND CROCHETING WHILE REACHING AND TEACHING NEW GENERATIONS THESE WORTHWHILE SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Mills Director | Trustee | 0 | $0 |
Richard Ezra Chairman | Trustee | 0 | $0 |
Sajive Jain Director | Trustee | 0 | $0 |
Veronica Salazar Director | Trustee | 0 | $0 |
Ryan Newell Director | Trustee | 0 | $0 |
David Blumenthal Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $141,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,000 |
| Total Program Service Revenue | $28,044 |
| Investment income | $10 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,500 |
| 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 | $176,554 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $86,288 |
| Compensation of current officers, directors, key employees. | $43,144 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,865 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,007 |
| Fees for services: Management | $6,458 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $881 |
| Advertising and promotion | $59,960 |
| Office expenses | $349 |
| Information technology | $3,931 |
| Royalties | $0 |
| Occupancy | $14,454 |
| Travel | $2,098 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,470 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,609 |
| All other expenses | $3,541 |
| Total functional expenses | $301,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,935 |
| Savings and temporary cash investments | $23,346 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,100 |
| 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 | $1,980 |
| Total assets | $136,361 |
| Accounts payable and accrued expenses | $3,053 |
| 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 | $2,118 |
| Total liabilities | $5,171 |
| Net assets without donor restrictions | $131,190 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $136,361 |