Haystack Mountain School of Crafts

Analysis

Haystack Mountain School of Crafts is a registered charity in United States, based in Deer Isle, ME. It received its IRS tax-exemption ruling in January 1954, 72 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Haystack Mountain School of Crafts reported income of $2.3m and spending of $3.1m, spending 136% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $6.8m to $2.3m (-67%), an average of -24% a year. The sharpest change came in the year to October 2021, when income rose by 319%. Over the whole period it spent 57% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Haystack Mountain School of Crafts sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within ME. Charities of a similar size with the same main cause include St Croix Montessori School ($2.3m), Summa Global Education ($2.3m) and American Friends of Tomer Devorah Inc ($2.3m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 42% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $211k (6.9% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $22.6m against liabilities of $208k, net assets of $22.4m. It reported 40 employees.