Center for Furniture Craftsmanship

Analysis

Center for Furniture Craftsmanship is a registered charity in United States, based in Rockport, ME. It received its IRS tax-exemption ruling in October 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Center for Furniture Craftsmanship reported income of $1.9m and spending of $2.1m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.8m to $1.9m (-31%), an average of -8.9% a year. The sharpest change came in the year to December 2021, when income rose by 93%. Over the whole period it spent 66% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Center for Furniture Craftsmanship sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within ME. Charities of a similar size with the same main cause include Hyannis Public Library Association ($1.9m), Fernandina Beach Christian Academy Inc ($1.9m) and Winter Sports School in Park City ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $160k (7.7% of expenses). Other salaries and wages came to $934k. At year end it held assets of $16.6m against liabilities of $428k, net assets of $16.2m. It reported 64 employees.