Center for Furniture Craftsmanship

Nonprofit profile at a glance

EIN
010517984
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Rockport, ME, USA
Phone
2075945611
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$3,414,326
Expenses
$2,243,892
Assets
$17,746,002
Liabilities
$452,126

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • MARK TRESNOWSKI (PRESIDENT)
  • TOM MAGINNIS (VICE PRESIDENT)
  • MATTHEW HOGGLE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MATTHEW HOGGLE (EXECUTIVE DIRECTOR): $162,765 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide the best possible education for people who want to design and build functional, beautiful, expressive work out of wood to the highest standard of craftsmanship.

What it reported doing in 2024

Offered more than 40 courses in furniture making, design, carving, and finishing. Courses lasted from one weekend to nine months, and students enrolled from across the united states and from a number of foreign countries. Also, offered a fellowship program for emerging professional furniture makers.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.2%; rating input score 93
  • Program expense ratio: 84.2%; rating input score 84
  • Fundraising efficiency: $5.08 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.3%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 7.91; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 93.2% of revenue deployed · 84.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $163K · 14 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.