American Quilt Study Group FY2024 filing

Tax-deductible

Lincoln, NE501(c)(3)Since 1980EducationEIN 47-0813103Revenue $660K in FY2024

On file with the IRSamericanquiltstudygroup.org1610 L St, 68508-2509 · Lincoln, NETax-exempt since Apr 2001Publicly supported — 509(a)(2)

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The American Quilt Study Group establishes and promotes the highest standards for interdisciplinary Quilt-related studies, providing opportunities for Study, research and publication of works that advance the knowledge of quilts and related subjects.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$88K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $59K a year · 14% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$88K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $14K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$47K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$660K
+26% vs prior year
Spent
$498K
To programs
72%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$660K
FY2024▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2020$208K
FY2021$377K
FY2022$331K
FY2023$525K
FY2024$660K
FY2025$453K
Expenses
$498K
FY2024▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$159K
FY2021$292K
FY2022$334K
FY2023$450K
FY2024$498K
FY2025$469K
Net assets
$1.1M
FY2024▲ +27%
Tap a bar for its year
Net assets by fiscal year
FY2020$752K
FY2021$888K
FY2022$737K
FY2023$893K
FY2024$1.1M
FY2025$1.2M

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2001.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $358K Management & general 27% · $136K Fundraising 1% · $5K

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

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Who runs it and what they're paid

14 people listed on the 990; $88K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$87,800Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
1st Vice Pre
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Carrie Dell’s $94K as Executive Di is at the 80th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Carrie Dell$93,713$87,800$81,252$64,615——
Judy Brott Buss————$70,693$60,980

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See American Quilt Study Group 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

Promotes high standards for interdisciplinary quilt studies, research, and publication.

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Provided by the organization

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1 program · $358K · in their own filed words · FY2024
01

Presentation of quilt research, workshops, lectures for specific benefit; members are quilt historians, researchers, hobbyists who receive valued information and advice; publication of original quilt history research for public benefit; offer research grants.

$358Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 3 funders →
Grants paid · 3 grants · $8K · 2023–2023
Unitemized GrantFY2023$4,496
Unitemized GrantFY2023$2,400
Unitemized GrantFY2023$855

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$660K
Ln 12
Gifts and grantsLn 1h$385K
Fees for servicesLn 2g$208K
Investment incomeLn 3$56K
Money outPt IX
$498K
Ln 25
Programscol B$358K
Managementcol C$136K
Fundraisingcol D$5K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$1.2M
LiabilitiesLn 26$47K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$385K
Fees for servicesLn 2g$208K
Investment incomeLn 3$56K
Other incomeLn 4–11$11K
Gains on assetsLn 7$30K
Total revenueLn 12$660K
Assets in detailPt X, end of year
CashLn 1$20K
Cash and savings togetherLn 1–2$20K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$1K
Total assetsLn 16$1.2M
LiabilitiesLn 26$47K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$40K$20K
InvestmentsLn 11–13$869K$1.1M
Land, buildings, equipmentLn 10c$519$1K
Total assetsLn 16$935K$1.2M
LiabilitiesLn 26$42K$47K
Net assetsLn 32$893K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$144K$115K$24K$4K
Other employee benefitsLn 9$3K$3K
Payroll taxesLn 10$12K$10K$2K$358
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$9K$9K
Other fees for servicesLn 11g$9K$9K
Office expensesLn 13$57K$57K
Information technologyLn 14$4K$4K
OccupancyLn 16$12K$12K
TravelLn 17$6K$6K
Conferences, conventions and meetingsLn 19$190K$190K
Depreciation, depletion and amortizationLn 22$485$485
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$40K$24K$16K
Total functional expensesLn 25$498K$358K$136K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $453K$469K−$16K$1.2M 990 PDF
FY2024 Viewing $660K$498K$162K$1.1M 990 PDF
FY2023 $525K$450K$75K$893K 990 PDF
FY2022 $331K$334K−$3K$737K 990 PDF
FY2021 $377K$292K$85K$888K 990 PDF
FY2020 $208K$159K$49K$752K 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 FY2024 990 (6 parts)
Part I · Summary $659,533 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $258,680$384,771
I-9 Program service revenuePrior year $204,220$207,641
I-10 Investment incomePrior year $46,900$55,749
I-11 Other revenuePrior year $14,972$11,372
I-12 Total revenuePrior year $524,772$659,533
I-13 Grants and similar amounts paidPrior year $7,751$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $142,234$158,887
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $300,202$338,979
I-18 Total expensesPrior year $450,187$497,866
I-19 Revenue less expensesPrior year $74,585$161,667
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $659,533 across 7 lines filed
Lines not itemized here account for $11,372 of total revenue; see the IRS return.
VIII-1b Membership dues$71,364
VIII-1f All other contributions, gifts and grants$313,407
VIII-1h Total contributions, gifts and grants$384,771
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $207,641$207,641
VIII-3 Investment incomeExcluded from tax $25,448$25,448
VIII-7 Net gain or loss on sales of assetsRelated to mission $30,301$30,301
VIII-12 Total revenueRelated to mission $249,314 · Excluded from tax $25,448$659,533
Part IX · Statement of functional expenses $497,866 across 14 lines filed
IX-7 Other salaries and wagesPrograms $115,299 · Management $24,500 · Fundraising $4,324$144,123
IX-9 Other employee benefitsManagement $2,845$2,845
IX-10 Payroll taxesPrograms $9,535 · Management $2,026 · Fundraising $358$11,919
IX-11c Accounting feesPrograms $8,267$8,267
IX-11f Investment management feesManagement $9,201$9,201
IX-11g Other fees for servicesManagement $8,855$8,855
IX-13 Office expensesManagement $57,261$57,261
IX-14 Information technologyPrograms $3,680$3,680
IX-16 OccupancyManagement $11,952$11,952
IX-17 TravelPrograms $6,263$6,263
IX-19 Conferences, conventions and meetingsPrograms $190,050$190,050
IX-22 Depreciation, depletion and amortizationPrograms $485$485
IX-23 InsuranceManagement $3,066$3,066
IX-24 Other expenses (24a–d)Programs $23,986 · Management $15,913$39,899
IX-25 Total functional expensesPrograms $357,565 · Management $135,619 · Fundraising $4,682$497,866
Part X · Balance sheet $1,182,281 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $39,892$20,426
X-4 Accounts receivableStart of year $135$135
X-8 Inventories for sale or useStart of year $16,171$23,854
X-10c Land, buildings and equipment, netStart of year $519$1,419
X-12 Other securitiesStart of year $869,236$1,136,447
X-16 Total assetsStart of year $935,485$1,182,281
X-17 Accounts payable and accrued expensesStart of year $1,424$2,555
X-19 Deferred revenueStart of year $40,766$44,540
X-26 Total liabilitiesStart of year $42,190$47,095
X-27 Net assets without donor restrictionsStart of year $628,742$721,022
X-28 Net assets with donor restrictionsStart of year $264,553$414,164
X-32 Total net assets or fund balancesStart of year $893,295$1,135,186
X-33 Total liabilities and net assetsStart of year $935,485$1,182,281
Part XI · Reconciliation of net assets $1,135,186 net assets at year end
XI-1 Total revenue$659,533
XI-2 Total expenses$497,866
XI-3 Revenue less expenses$161,667
XI-4 Net assets at start of year$893,295
XI-5 Net unrealized gains (losses) on investments$80,224
XI-10 Net assets at end of year$1,135,186

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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