Knitting Guild Association

Analysis

Knitting Guild Association is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in August 2016, 10 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, Knitting Guild Association reported income of $325k and spending of $298k, spending 92% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $270k to $325k (+20%), an average of +9.7% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Knitting Guild Association sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 68th percentile within TX. Charities of a similar size with the same main cause include North Caldwell Partnership for Education ($325k), Education Service Center Region 12 Technology Foundation ($325k) and App Inventor Foundation ($325k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.0% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $106k (35% of expenses). At year end it held assets of $308k against liabilities of $86k, net assets of $222k.