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The Folk School FY2022 filing

Tax-deductible

Fairbanks, AK501(c)(3)Youth DevelopmentEIN 45-2974643

The Folk School, in keeping with a 200-year-old tradition, is dedicated to enriching lives and building community by passing on skills and personal knowledge in a nurturing environment. The Folk School provides year-round, affordable programs in a variety of hands-on disciplines

501(c)(3) charity; gifts are tax-deductible.
50¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $34K a year · 13% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
50%
of spending
Worth a look: 50% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 11.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $217K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$158K
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$241K
-23% vs prior year
Spent
$217K
To programs
50%
Net assets
$225K
By yearFY2020–FY2024
Revenue
$241K
FY2022▼ -23%
Revenue by fiscal year
FY2020$223K
FY2021$314K
FY2022$241K
FY2023$275K
FY2024$292K
Expenses
$217K
FY2022▲ +7%
Expenses by fiscal year
FY2020$173K
FY2021$204K
FY2022$217K
FY2023$269K
FY2024$310K
Net assets
$225K
FY2022▲ +11%
Net assets by fiscal year
FY2020$92K
FY2021$202K
FY2022$225K
FY2023$244K
FY2024$240K

From the FY2022 Form 990 · see the original

Give Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $109K Management & general 47% · $103K Fundraising 2% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Kuowei Lee
Board Member
$0Pt VII · Sec A
Michael Whalen
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gordon Williams
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Folk School executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Teaches traditional skills and knowledge to enrich lives and build community.

Provided by the organization

This section is blank until The Folk School claims this page.

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1 program service account for $109K of program spending, described in the organization's own filed words · FY2022.
01

Maintaining a non-competitive, nurturing, multigenerational educational model that fosters the use of indigenous materials and provides unique learning opportunities, and hones skill-based crafts such as woodworking, sewing, art, cooking, music, creative writing, and more.

$109Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$207K
Richard L & Diane M Block Foundation TrFY2024$10K
Total grants receivedfrom 2 funders$217K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$241K
Ln 12
Gifts and grantsLn 1h$138K
Fees for servicesLn 2g$112K
Investment incomeLn 3−$10K
Money outPt IX
$217K
Ln 25
Programscol B$109K
Managementcol C$103K
Fundraisingcol D$5K
Owns and owesPt X
$225K
net assets · Ln 32
Cash and savingsLn 1–2$216K
Total assetsLn 16$383K
LiabilitiesLn 26$158K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$138K
Government grantsLn 1e$43K
Noncash giftsLn 1g$18K
Fees for servicesLn 2g$112K
Investment incomeLn 3−$10K
Total revenueLn 12$241K
Assets in detailPt X, end of year
CashLn 1$78K
SavingsLn 2$138K
Cash and savings togetherLn 1–2$216K
InvestmentsLn 11–13$124K
Land, buildings, equipmentLn 10c$38K
Other assetsLn 15$120
Total assetsLn 16$383K
LiabilitiesLn 26$158K
Net assetsLn 32$225K
OperationsPt I, VI
EmployeesI 53
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$321K$216K
InvestmentsLn 11–13$124K
Land, buildings, equipmentLn 10c$26K$38K
Total assetsLn 16$364K$383K
LiabilitiesLn 26$162K$158K
Net assetsLn 32$202K$225K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$65K$33K$32K
Payroll taxesLn 10$6K$3K$3K
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$1K$1K
Other fees for servicesLn 11g$44K$43K$2K
Advertising and promotionLn 12$5K$843$4K
Office expensesLn 13$7K$583$2K$4K
Information technologyLn 14$11K$300$10K$32
OccupancyLn 16$18K$1K$17K
TravelLn 17$880$750$130
Conferences, conventions and meetingsLn 19$238$148$90
Depreciation, depletion and amortizationLn 22$1K$662$521
InsuranceLn 23$8K$171$7K$21
Other expenses (24a–d)Ln 24$46K$26K$19K$1K
Total functional expensesLn 25$217K$109K$103K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $292K$310K−$17K$240K 990 PDF
FY2023 $275K$269K$6K$244K 990 PDF
FY2022 Viewing $241K$217K$23K$225K 990 PDF
FY2021 $314K$204K$111K$202K 990 PDF
FY2020 $223K$173K$49K$92K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $240,581 across 7 lines filed
VIII-1e Government grants$43,333
VIII-1f All other contributions, gifts and grants$94,782
VIII-1g Noncash contributions (included above)$17,858
VIII-1h Total contributions, gifts and grants$138,115
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $112,253$112,253
VIII-3 Investment incomeRelated to mission −$9,787−$9,787
VIII-12 Total revenueRelated to mission $102,466 · Unrelated business $0 · Excluded from tax $0$240,581
Part IX · Statement of functional expenses $217,437 across 14 lines filed
IX-7 Other salaries and wagesPrograms $33,441 · Management $31,793$65,234
IX-10 Payroll taxesPrograms $3,070 · Management $2,919$5,989
IX-11c Accounting feesManagement $4,788$4,788
IX-11f Investment management feesManagement $1,431$1,431
IX-11g Other fees for servicesPrograms $42,929 · Management $1,500$44,429
IX-12 Advertising and promotionPrograms $843 · Management $3,672$4,515
IX-13 Office expensesPrograms $583 · Management $1,844 · Fundraising $4,213$6,640
IX-14 Information technologyPrograms $300 · Management $10,300 · Fundraising $32$10,632
IX-16 OccupancyPrograms $1,020 · Management $16,831$17,851
IX-17 TravelPrograms $750 · Management $130$880
IX-19 Conferences, conventions and meetingsManagement $148 · Fundraising $90$238
IX-22 Depreciation, depletion and amortizationPrograms $662 · Management $521$1,183
IX-23 InsurancePrograms $171 · Management $7,446 · Fundraising $21$7,638
IX-24 Other expenses (24a–d)Programs $25,652 · Management $19,315 · Fundraising $1,022$45,989
IX-25 Total functional expensesPrograms $109,421 · Management $102,638 · Fundraising $5,378$217,437
Part X · Balance sheet $383,134 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $147,544$77,717
X-2 Savings and temporary cash investmentsStart of year $173,344$137,977
X-4 Accounts receivableStart of year $10,986−$473
X-9 Prepaid expenses and deferred chargesStart of year $5,941$5,759
X-10c Land, buildings and equipment, netStart of year $26,287$38,403
X-12 Other securities$123,631
X-15 Other assetsStart of year $120$120
X-16 Total assetsStart of year $364,222$383,134
X-17 Accounts payable and accrued expenses$2,252
X-25 Other liabilitiesStart of year $161,915$155,431
X-26 Total liabilitiesStart of year $161,915$157,683
X-32 Total net assets or fund balancesStart of year $202,307$225,451
X-33 Total liabilities and net assetsStart of year $364,222$383,134
Part XI · Reconciliation of net assets $225,451 net assets at year end
XI-1 Total revenue$240,581
XI-2 Total expenses$217,437
XI-3 Revenue less expenses$23,144
XI-4 Net assets at start of year$202,307
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$225,451

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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