PHILADELPHIA FURNITURE WORKSHOP

EIN: 472180450 501(c)(3) Education

PHILADELPHIA, PA

Total Revenue
$175,298
Total Expenses
$199,674
Total Assets
$283,364
Net Assets
$263,350
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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
2014
Legal Domicile
PA
Principal Officer
DOUG OLEARY
Phone
2158495174
Tax Period
2024-01-01 to 2024-12-31

PHILADELPHIA FURNITURE WORKSHOP, founded in 2014, is a small nonprofit in the Education sector that reported $175K in total revenue in fiscal year 2024. Expenses of $200K exceeded revenue, resulting in a 14% operating deficit.

Mission

FILER IS AN EDUCATIONAL INSTITUTION TEACHING WOODWORKING AND FURNITURE MAKING SKILLS TO ALL LEVELS OF STUDENTS WITHOUT REGARD TO AGE, RACE, GENDER, OR WEALTH

Program Service Accomplishments

Program 1
Expenses: $135,108 Revenue: $105,371

OPERATION OF A WOODWORKING SCHOOL. FOR 2024 THE SCHOOL TAUGHT 62 UNIQUE COURSES OF STUDY IN WOODWORKING AND FURNITURE MAKING TO 386 STUDENTS.

Program 2
Expenses: $18,901 Revenue: $14,741

FOR 2024 THE SCHOOL ENGAGED IN PRIVATE INSTRUCTION IN THE FIELDS OF WOODWORKING TECHNIQUES AND FURNITURE DESIGN AND CONSTRUCTION TO APPROXIMATELY 54 STUDENTS ON 9 OCCASION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $55,186
Program Service Revenue $120,112
Investment Income $0
Other Revenue $0
TOTAL REVENUE $175,298

Expense Breakdown

Grants Paid $0
Salaries & Benefits $131,620
Fundraising Expenses $4,120
Program Expenses $154,009
Other Expenses $68,054
TOTAL EXPENSES $199,674

Year-over-Year Comparison

2024 2023 Change
Revenue $175,298 $162,786 +0.1%
Expenses $199,674 $173,170 +0.2%
Net Income $-24,376 $-10,384 +1.3%
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

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Governance

Voting Members
6
Independent Members
6
Employees
3
Volunteers
11

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
1
$79,190
Total Directors
7
$79,190
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALAN TURNER CHAIRMAN 0.25
Director
$0 $0 $0
DOUG OLEARY PRESIDENT 1.00
Director
$0 $0 $0
SANDRA WECKESSER BOARD MEMBER 0.25
Director
$0 $0 $0
KEVIN DOUGHERTY BOARD MEMBER 0.25
Director
$0 $0 $0
BRETT HART BOARD MEMBER 0.25
Director
$0 $0 $0
KENNETH MCCHORD BOARD MEMBER 0.25
Director
$0 $0 $0
CRAIG STEVENS EXECUTIVE DIRECTOR 60.00
Officer Director
$72,095 $7,095 $79,190
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 $175,298 $199,674 $283,364 $-24,376
2023 $162,786 $173,170 $305,370 $-10,384
2022 $135,279 $178,378 $324,674 $-43,099
2021 $186,636 $142,332 $354,502 $44,304
2020 $130,253 $123,310 $327,097 $6,943
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