AMERICAN ASSOCIATION OF WOODTURNERS

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2011

Legal Domicile

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

OUR MISSION IS TO PROVIDE EDUCATION, INFORMATION, AND ORGANIZATION TO THOSE INTERESTED IN WOODTURNING - A BRANCH OF WOODWORKING CENTERED AROUND USING THE LATHE TO SHAPE WOOD. THE RESULTS RANGE FROM THE FAMILIAR TO THE PROFOUND: EVERYTHING FROM DECORATIVE AND FUNCTIONAL BOWLS, BOXES AND VESSELS TO FURNITURE AND ARCHITECTURAL SPINDLES, TOYS, TOOLS, MUSICAL INSTRUMENTS, AND EVEN SCULPTURAL ART. MEMBERS OF THE AAW INCLUDE PROFESSIONALS, AMATEURS, GALLERY OWNERS, COLLECTORS AND WOOD AND TOOL SUPPLIERS.

Program Service Accomplishments

Program 1

Expenses: $509,998 Revenue: $546,053

THE AAW INTERNATIONAL WOODTURNING SYMPOSIUM, HELD IN LOUISVILLE, KY WAS ATTENDED BY MORE THAN 1,000 IN PERSON REGISTERED ATTENDEES AND APPROXIMATELY 1,000 MORE FROM THE PUBLIC AND ONLINE. HELD OVER FOUR DAYS, THIS ANNUAL EVENT IS THE WORLD'S LARGEST GATHERING OF WOODTURNING ENTHUSIASTS AND OFFERS A PREMIER LEARNING OPPORTUNITY FOR WOODTURNERS.

Program 2

Expenses: $490,007 Revenue: $220,122

THE AAW IS THE LEADING TRUSTED RESOURCE IN WOODTURNING EDUCATION AND EXECUTING OUR STRATEGY TO BECOME THE PREMIER WORLD-WIDE WOODTURNING EDUCATOR. THE AAW PUBLISHES A HIGH-QUALITY EDUCATIONAL...

THE AAW IS THE LEADING TRUSTED RESOURCE IN WOODTURNING EDUCATION AND EXECUTING OUR STRATEGY TO BECOME THE PREMIER WORLD-WIDE WOODTURNING EDUCATOR. THE AAW PUBLISHES A HIGH-QUALITY EDUCATIONAL JOURNAL, AMERICAN WOODTURNER, WHICH IS DISTRIBUTED TO ALL MEMBERS. CONTENT COVERS A BROAD RANGE OF TOPICS IMPORTANT TO THE WOODTURNING COMMUNITY. THE AAW IS ALSO HEAVILY VESTED IN THE DIGITAL LEARNING SPACE ENABLING ACCESS TO NEARLY 40 YEARS OF INTELLECTUAL PROPERTIES.

Program 3

Expenses: $135,200 Revenue: $769,330

TOTAL MEMBERSHIP AT THE END OF 2023 WAS APPROXIMATELY 14,000. MEMBERSHIP RETENTION AND ACQUISITION OF NEW MEMBERS ARE CRITICAL PERFORMANCE MEASURES.

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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%)

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

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

$133,707

Total Directors

Key Employees

Highest Compensated

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