Craft Yarn Council Inc

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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

1981

Legal Domicile

Principal Officer

Jenny A Bessonette

Tax Period

2023-04-01 to 2024-03-31

Craft Yarn Council Inc, founded in 1981, is a small nonprofit that reported $275K in total revenue in fiscal year 2023. Revenue surged 56% from the prior year, signaling strong growth momentum. The organization ran a surplus of $52K, a strong 19% operating margin.

Mission

See Sch O

Program Service Accomplishments

Program 1

Expenses: $42,149

The council also maintains a database of CIP graduates and alerts them to job opportunities in the communities. In addition, many graduates go on to find jobs teaching in retail stores or...

The council also maintains a database of CIP graduates and alerts them to job opportunities in the communities. In addition, many graduates go on to find jobs teaching in retail stores or volunteering in schools and other venues on their own. By training teachers, the council is fulfilling the mandate of its members to raise awareness of yarn related skills such as knitting and crocheting while reaching and teaching new generations these worthwhile skills.

Program 2

Expenses: $39,090

FORM 990, PART III, LINE 4D OTHER PROGRAM SERVICES DESCRIPTIONCertified Instructors Program (CIP) initiated in 1982. The goal of the CIP is to train knitters and crocheters who have good basic skills in these craft to gain the knowledge and confidence to teach others. There are two separate programs: a) knitting and b) crocheting. There are three levels to each CIP Program: instructor, teacher, and professional.

Program 3

Expenses: $5,759 Revenue: $82,727

Classes are offered on-site or via correspondence and cover technical skills as well as the specifics of how to teach these skills to others. An on-site class includes between 15-17 hours of...

Classes are offered on-site or via correspondence and cover technical skills as well as the specifics of how to teach these skills to others. An on-site class includes between 15-17 hours of intensive hands-on instruction with a master teacher. The correspondence program covers the same information. Participants work is review personally by one of the programs master teachers through a combination of written work and telephone interviews. The program is also offered as part of the Fashion Institute of Technologys (FIT) continuing education program. FIT, which is based in New York City, offers CIP participants who complete the program degree credit(s).

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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 $231,250

Program Service Revenue $43,684

Investment Income $17

Other Revenue $0

TOTAL REVENUE $274,951

Expense Breakdown

Grants Paid $0

Salaries & Benefits $156,360

Fundraising Expenses $0

Program Expenses $90,412

Other Expenses $66,530

TOTAL EXPENSES $222,890

Year-over-Year Comparison

	2023	2022	Change
Revenue	$274,951	$176,554	+0.6%
Expenses	$222,890	$301,336	-0.3%
Net Income	$52,061	$-124,782	-1.4%

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

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

$89,197

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jenny A Bessonette	Executive Director	40.00	Officer	$89,197	$0	$89,197
Adam Blumenthal	Director	0.00	Director	$0	$0	$0
Chris Mills	Director	0.00	Director	$0	$0	$0
Laura Zander	Director	0.00	Director	$0	$0	$0
Tyra Derr	Director	0.00	Director	$0	$0	$0
Richard Ezra	Chairman	0.00	Director	$0	$0	$0
Jan Kahn	Director	0.00	Director	$0	$0	$0
David Blumenthal	Director	0.00	Director	$0	$0	$0
Kylee Peters	Director	0.00	Director	$0	$0	$0
Paulo Santos	Director	0.00	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
2025	No data	No data	No data	No data
2024	$274,951	$222,890	$193,325	$52,061
2023	$176,554	$301,336	$136,361	$-124,782
2022	$267,798	$331,031	$263,531	$-63,233
2021	$373,896	$318,077	$327,332	$55,819
2020	$413,021	$354,734	$269,584	$58,287
2019	$368,701	$403,693	$228,174	$-34,992
2018	$527,000	$417,664	$247,396	$109,336