Civic Intelligence

Craft Yarn Council Inc

990 • Fiscal year 2018 • EIN 56-1303596

Apr 01, 2017 to Mar 31, 2018 • Filed on Feb 20, 2019

Organization Profilewww.craftyarncouncil.com
3740 N Josey LNCarrollton, TX 75007

(469) 964-4525

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

36th percentile

0.02x

Higher debt load relative to assets than 36% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

31st percentile

0.01x

Higher debt load relative to revenue than 31% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Net Margin

87th percentile

21%

Higher net margin than 87% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

59th percentile

$80,085

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 15.2% of source-year revenue.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Asset Growth

65th percentile

8.7%

Faster asset growth than 65% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

59th percentile

6.0%

Faster revenue growth than 59% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$247,396

Up $19,755 (+8.7%) from 2017

Net Assets

Up

$243,033

Up $109,336 (+82%) from 2017

Liabilities

Down

$4,363

Down $89,581 (-95%) from 2017

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin87th percentile

Revenue

Up

$527,000

Up $29,810 (+6.0%) from 2017

Expenses

Down

$417,664

Down $58,829 (-12%) from 2017

Net Income

Up

$109,336

Up $88,639 (+428%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2012: $55,198Liabilities 2012: $19,627Net Assets 2012: $35,5712012Assets 2013: $81,455Liabilities 2013: $7,273Net Assets 2013: $74,1822013Assets 2014: $122,216Liabilities 2014: $6,994Net Assets 2014: $115,2222014Assets 2015: $216,266Liabilities 2015: $110,005Net Assets 2015: $106,2612015Assets 2016: $189,692Liabilities 2016: $76,692Net Assets 2016: $113,0002016Assets 2017: $227,641Liabilities 2017: $93,944Net Assets 2017: $133,6972017Assets 2018: $247,396Liabilities 2018: $4,363Net Assets 2018: $243,0332018Assets 2019: $228,174Liabilities 2019: $22,133Net Assets 2019: $206,0412019Assets 2020: $269,584Liabilities 2020: $5,256Net Assets 2020: $264,3282020Assets 2021: $327,332Liabilities 2021: $8,127Net Assets 2021: $319,2052021Assets 2022: $263,531Liabilities 2022: $7,559Net Assets 2022: $255,9722022Assets 2023: $136,361Liabilities 2023: $5,171Net Assets 2023: $131,1902023Assets 2024: $193,325Liabilities 2024: $10,075Net Assets 2024: $183,2502024Assets 2025: $226,187Liabilities 2025: $2,522Net Assets 2025: $223,6652025

Highlighted filing

2018

Assets$247,396
Liabilities$4,363
Net Assets$243,033
Open 2018 Filing

Operations Trend

Revenue Growth59th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2012: $503,649Expenses 2012: $466,341Net Income 2012: $37,3082012Expenses 2013: $511,4672013Revenue 2014: $546,117Expenses 2014: $505,077Net Income 2014: $41,0402014Revenue 2015: $520,778Expenses 2015: $529,739Net Income 2015: -$8,9612015Revenue 2016: $468,929Expenses 2016: $462,190Net Income 2016: $6,7392016Revenue 2017: $497,190Expenses 2017: $476,493Net Income 2017: $20,6972017Revenue 2018: $527,000Expenses 2018: $417,664Net Income 2018: $109,3362018Revenue 2019: $368,701Expenses 2019: $403,693Net Income 2019: -$34,9922019Revenue 2020: $413,021Expenses 2020: $354,734Net Income 2020: $58,2872020Revenue 2021: $373,896Expenses 2021: $318,077Net Income 2021: $55,8192021Revenue 2022: $267,798Expenses 2022: $331,031Net Income 2022: -$63,2332022Revenue 2023: $176,554Expenses 2023: $301,336Net Income 2023: -$124,7822023Revenue 2024: $274,951Expenses 2024: $222,890Net Income 2024: $52,0612024Revenue 2025: $256,851Expenses 2025: $216,436Net Income 2025: $40,4152025

Highlighted filing

2018

Revenue$527,000
Expenses$417,664
Net Income$109,336
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2017 to Mar 31, 2018
Signed
Feb 20, 2019
Return Version
2017v2.2
Gross Receipts
$527,000
Mission and Program Overview

Mission

The Craft Yarn Council was formed in 1981 to raise awareness of yarns. Council members that represent leading yarn, tools, books, magazines, and accessories companies sponsor a wide range of educational and promotional programs, including its highly acclaimed Certified Instructors Program, teacher training programs, Discover Knit and Crochet classes, and its popular I Love YARN Day event, which offers a virtual meeting place for the nation's knitters and crocheters.

See Sch O

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$68,734$195,786▲ $127,052
Cash and Non-Interest-Bearing Accounts$113,666$40,589▼ $73,077
Land, Buildings, and Equipment, Net$3,310$3,906▲ $596
Accounts Receivable$38,877$3,135▼ $35,742
Prepaid Expenses and Deferred Charges$3,054$2,000▼ $1,054
Total Assets$227,641$247,396▲ $19,755
Other Assets Total-$1,980-
Liabilities
Deferred Revenue$75,000--
Accounts Payable and Accrued Expenses$18,944$4,363▼ $14,581
Total Liabilities$93,944$4,363▼ $89,581
Net Assets / Fund Balance
Unrestricted Net Assets$133,697$243,033▲ $109,336
Total Net Assets Fund Balance$133,697$243,033▲ $109,336
Total Liabilities and Net Assets / Fund Balance$227,641$247,396▲ $19,755

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,906$9,445$13,351
Other Land Buildings-$12,755$12,755
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jenny A BessonetteExecutive DirectorFT$80,085$80,085
Mary Colucci WeinsteinPast Exec Director-$51,111$51,111

Board Members and Trustees

NameTitle
Dean BlumenthalChairman
David BlumenthalDirector
Dom MattinglyDirector
Jan KahnDirector
John LaurieDirector
Ryan NewellDirector
Ursual MorganDirector
Robin HaynesSecTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$256,652
Program Service Revenue
$270,227
Investment Income
$121
Other Revenue
$0
Change in Net Assets
$109,336
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$212,391
Salaries, Compensation, and Employee Benefits$205,273
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$86,500$29,718-$116,218
Current Officers, Directors, Trustees, and Key Employees-$74,063-$74,063
Fees for Services Management$36,227--$36,227
Conferences and Meetings-$24,383-$24,383
All Other Expenses$8,208$15,039-$23,247
Occupancy-$16,485-$16,485
Fees for Services Accounting-$15,800-$15,800
Payroll Taxes-$14,992-$14,992
Office Expenses-$6,026-$6,026
Insurance-$4,153-$4,153
Other Expenses$54,758$3,620-$3,620
Travel-$1,478-$1,478
Interest-$92-$92
Total Functional Expenses$185,693$231,971$0$417,664
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“FORM 990, PART VI, LINE 11B FORM 990 REVIEW PROCESSSecretary/Treasurer will review and sign the Form 990 and it will be made available to members of the CYC Executive committee, which is the body of members who reviews finances and audit reports.”

Governing documents etc available to public Part VI line 19

“FORM 990, PART VI, LINE 19 OTHER ORGANIZATION DOCUMENTS PLUBLICLY AVAILABLENo other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Craft Yarn Council Inc
EIN
56-1303596
Address
3740 N Josey LN, Carrollton, TX 75007

Signing Officer

Name
Jenny Bessonette
Title
Executive Direc
Phone
4699644525
Signed
2019-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jenny A Bessonette
Formed
1981
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Stokes and Powell CPAs LLC
Address
1933 E Frankford Rd Suite 105, Carrollton, TX 75007
Preparer
Wayne P Powell CPA
Phone
9724920744
Supplemental Narrative

Additional Explanations

General explanation attachment

“FORM 990, PART I, LINE 1 ORGANIZATION MISSION OR SIGNIFICANT ACTIVITIESThe Craft Yarn Council was formed in 1981 to raise awareness of yarns. Council members that represent leading yarn, tools, books, magazines, and accessories companies sponsor a wide range of education and promotional programs, including its highly acclaimed certified instructors program, teacher training programs, Discover kit and crochet classes, and its popular I Love Yarn Day Event, which offers a virtual meeting place for the nations knitters and crocheters.”

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IRS990/ProgSrvcAccomActy2Grp/Desc0FORM 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-one for knitting and one for crocheting and there are three levels to each CIP Program: instructor, teacher, and professional.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Warm Up America! CYC and its members support the Warm Up America Foundation, A 501 (C) (3) Charity, with financial, material and staff support. The program works with volunteers nationwide who knit or crochet 7X9 squares which are hand sewn in to blankets and then distributed to people in need through social service agencies, local church and community charities and national charities such as American red cross.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0FORM 990, PART III, LINE 4D OTHER PROGRAM SERVICES DESCRIPTIONI Love Yarn Day is a program to raise public awareness and promote yarns and crafts across the country on a specific day each year. Spreading the good feeling people get from yarn and yarn-related crafts is what I Love Yarn Day (ILYD) is all about. Consumers are encouraged to participate by making a craft or project to declare Love For Yarn.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1Classes 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-side 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).
IRS990/ProgSrvcAccomActyOtherGrp/Desc2The 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.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, LINE 11B FORM 990 REVIEW PROCESSSecretary/Treasurer will review and sign the Form 990 and it will be made available to members of the CYC Executive committee, which is the body of members who reviews finances and audit reports.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, LINE 19 OTHER ORGANIZATION DOCUMENTS PLUBLICLY AVAILABLENo other documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990, PART I, LINE 1 ORGANIZATION MISSION OR SIGNIFICANT ACTIVITIESThe Craft Yarn Council was formed in 1981 to raise awareness of yarns. Council members that represent leading yarn, tools, books, magazines, and accessories companies sponsor a wide range of education and promotional programs, including its highly acclaimed certified instructors program, teacher training programs, Discover kit and crochet classes, and its popular I Love Yarn Day Event, which offers a virtual meeting place for the nations knitters and crocheters.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2General explanation attachment
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IRS990/WebsiteAddressTxt0www.craftyarncouncil.com
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Jenny Bessonette
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Direc
ReturnHeader/BusinessOfficerGrp/PhoneNum04699644525
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-02-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Craft Yarn Council Inc
ReturnHeader/Filer/BusinessNameControlTxt0CRAF
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ReturnHeader/Filer/USAddress/AddressLine1Txt03740 N Josey LN
ReturnHeader/Filer/USAddress/CityNm0Carrollton
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-02-19
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.190.51.30
ReturnHeader/FilingSecurityInformation/IPDt02019-02-19
ReturnHeader/FilingSecurityInformation/IPTm009:46:57
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205939183
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Stokes and Powell CPAs LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01933 E Frankford Rd Suite 105
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Carrollton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075007
ReturnHeader/PreparerPersonGrp/PhoneNum09724920744
ReturnHeader/PreparerPersonGrp/PreparationDt02019-02-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Wayne P Powell CPA
ReturnHeader/ReturnTs02019-02-19T09:45:44-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-04-01
ReturnHeader/TaxPeriodEndDt02018-03-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$247,396
Liabilities
$4,363
Net assets
$243,033
Revenue
$527,000
Expenses
$417,664
Net income
$109,336
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.26$0.03$2.24$2.57$2.16$0.40
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.93$0.10$1.83$2.75$2.23$0.52
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.05$1.31$1.77$3.01$1.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.64$0.08$2.56$2.68$3.31$0.63
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.27$0.08$3.19$3.74$3.18$0.56
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.70$0.05$2.64$4.13$3.55$0.58
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.22$2.06$3.69$4.04$0.35
2018Detailed filing. Detailed filing data is available for this year.$2.47$0.04$2.43$5.27$4.18$1.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.28$0.94$1.34$4.97$4.76$0.21
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$0.77$1.13$4.69$4.62$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.16$1.10$1.06$5.21$5.30$0.09
2014Detailed filing. Detailed filing data is available for this year.$1.22$0.07$1.15$5.46$5.05$0.41
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.07$0.74$5.11
2012Summary only. Only limited summary data is available for this year.$0.55$0.20$0.36$5.04$4.66$0.37