AMERICAN ASSOCIATION OF WOODTURNERS

EIN: 453809279 501(c)(3) Arts, Culture & Humanities

ST PAUL, MN

Total Revenue
$1,995,367
Total Expenses
$1,709,023
Total Assets
$2,473,143
Net Assets
$1,734,407
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
MN
Principal Officer
CHARLES LOBAITO
Phone
6514849094
Tax Period
2023-01-01 to 2023-12-31

AMERICAN ASSOCIATION OF WOODTURNERS, founded in 2011, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $1.7M left a modest 14% surplus.

Mission

TO PROVIDE EDUCATION, INFORMATION AND ORGANIZATION TO THOSE INTERESTED IN WOODTURNING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $262,906
Program Service Revenue $1,395,434
Investment Income $222,562
Other Revenue $114,465
TOTAL REVENUE $1,995,367

Expense Breakdown

Grants Paid $13,028
Salaries & Benefits $396,097
Fundraising Expenses $304,192
Program Expenses $1,148,233
Other Expenses $1,299,898
TOTAL EXPENSES $1,709,023

Year-over-Year Comparison

2023 2022 Change
Revenue $1,995,367 $1,553,229 +0.3%
Expenses $1,709,023 $1,711,471 0.0%
Net Income $286,344 $-158,242 -2.8%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
6
Volunteers
100

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$133,707
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNIFER NEWBERG EXECUTIVE DIRECTOR (BEGINNING 4/1/23) 40.00
Officer
$92,008 $2,158 $94,166
PHILIP MCDONALD EXECUTIVE DIRECTOR (THROUGH 3/31/23) 40.00
Officer
$39,541 $0 $39,541
MIKE SUMMERER PRESIDENT 20.00
Officer Director
$0 $0 $0
LINDA BRITT VICE PRESIDENT 10.00
Officer Director
$0 $0 $0
CHARLES LOBAITO TREASURER/ENDOWMENT TRUSTE 10.00
Officer Director
$0 $0 $0
JAY BROWN SECRETARY 10.00
Officer Director
$0 $0 $0
RONALD DAY DIRECTOR 10.00
Director
$0 $0 $0
KC KENDALL DIRECTOR 10.00
Director
$0 $0 $0
RAYMOND BAKER DIRECTOR 10.00
Director
$0 $0 $0
KIMBERLY WINKLE DIRECTOR 10.00
Director
$0 $0 $0
SALLY BURNETT DIRECTOR 10.00
Director
$0 $0 $0
JOHN HILL ENDOWMENT TRUSTEE 5.00
Director
$0 $0 $0
KEAN WERNER ENDOWMENT TRUSTEE 5.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,995,367 $1,709,023 $2,473,143 $286,344
2022 $1,553,229 $1,711,471 $2,089,937 $-158,242
2021 $1,435,170 $1,329,946 $2,442,172 $105,224
2020 $1,846,934 $1,304,701 $2,264,067 $542,233
2019 $1,977,873 $1,740,832 $1,769,350 $237,041
2018 $1,954,088 $1,771,292 $1,601,827 $182,796
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