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Twinstate Makerspaces INC FY2024 filing

Tax-deductible

Claremont, NH501(c)(3)Since 2014Human Services EIN 47-1285995Revenue $103K in FY2024

On file with the IRStwinstatemakerspaces.org46 Main Street, 03743-0000 · Claremont, NHTax-exempt since Sep 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To provide a combination of workshops, artist studios, classrooms, and business incubators focused on the act of making things and to provide for community revitalization, job training and economic development in low income census tracts in northern new england.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
3 of 6
filings with a surplus
Average surplus $21K a year · 11% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
26 mo
of spending, in cash
Looks good: 26.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $52K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$99K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$103K
+5% vs prior year
Spent
$132K
To programs
93%
Net assets
$862K
By yearFY2020–FY2025
Revenue
$103K
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$328K
FY2021$227K
FY2022$117K
FY2023$98K
FY2024$103K
FY2025$275K
Expenses
$132K
FY2024▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$178K
FY2021$169K
FY2022$149K
FY2023$120K
FY2024$132K
FY2025$272K
Net assets
$862K
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$887K
FY2021$945K
FY2022$913K
FY2023$890K
FY2024$862K
FY2025$865K

From the FY2024 Form 990 (year ending June 2024) · 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 Sep 2014.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $122K Management & general 7% · $10K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Hoyt
Director
$0Pt VII · Sec A
Jeremy Katz
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Twinstate Makerspaces INC 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

Empowering communities through making, job training, and economic development in Northern New England.

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Provided by the organization

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1 program · $122K · in their own filed words · FY2023
01

To provide a combination of workshops, artist studios, classrooms, and business incubators focused on the act of making things and to provide for community revitalization, job training and economic development in low income census tracts in northern new england.

$122Kprogram expense

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
New Hampshire Charitable FoundationFY2024$35K
Serve and Succeed Charitable FoundationFY2024$15K
Claremont Savings Bank FoundationFY2024$2K
Total grants receivedfrom 3 funders$52K
See all 3 funders →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$103K
Ln 12
Fees for servicesLn 2g$80K
Gifts and grantsLn 1h$16K
Investment incomeLn 3$6K
Money outPt IX
$132K
Ln 25
Programscol B$122K
Managementcol C$10K
Owns and owesPt X
$862K
net assets · Ln 32
Cash and savingsLn 1–2$287K
Total assetsLn 16$961K
LiabilitiesLn 26$99K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16K
Fees for servicesLn 2g$80K
Investment incomeLn 3$6K
Other incomeLn 4–11$2K
Total revenueLn 12$103K
Assets in detailPt X, end of year
CashLn 1$20K
SavingsLn 2$267K
Cash and savings togetherLn 1–2$287K
Land, buildings, equipmentLn 10c$674K
Total assetsLn 16$961K
LiabilitiesLn 26$99K
Net assetsLn 32$862K
OperationsPt I, VI
EmployeesI 53
VolunteersI 665
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$288K$287K
Land, buildings, equipmentLn 10c$700K$674K
Total assetsLn 16$991K$961K
LiabilitiesLn 26$100K$99K
Net assetsLn 32$890K$862K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$50K$45K$5K
Other employee benefitsLn 9$268$241$27
Accounting feesLn 11c$1K$1K
Advertising and promotionLn 12$550$550
Office expensesLn 13$424$424
Information technologyLn 14$2K$2K$217
OccupancyLn 16$21K$19K$2K
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$30K$30K
InsuranceLn 23$9K$8K$922
Other expenses (24a–d)Ln 24$12K$12K
All other expensesLn 24e$469$469
Total functional expensesLn 25$132K$122K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $275K$272K$3K$865K 990 PDF
FY2024 Viewing $103K$132K−$29K$862K 990 PDF
FY2023 $98K$120K−$22K$890K 990 PDF
FY2022 $117K$149K−$32K$913K 990 PDF
FY2021 $227K$169K$58K$945K 990 PDF
FY2020 $328K$178K$150K$887K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $103,305 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $24,758$16,015
I-9 Program service revenuePrior year $69,790$79,778
I-10 Investment incomePrior year $1,652$5,524
I-11 Other revenuePrior year $1,836$1,988
I-12 Total revenuePrior year $98,036$103,305
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $26,848$50,735
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $93,347$81,223
I-18 Total expensesPrior year $120,195$131,958
I-19 Revenue less expensesPrior year −$22,159−$28,653
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
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
Part VIII · Statement of revenue $103,305 across 6 lines filed
VIII-1f All other contributions, gifts and grants$16,015
VIII-1h Total contributions, gifts and grants$16,015
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $79,778$79,778
VIII-3 Investment incomeRelated to mission $5,524$5,524
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,988$1,988
VIII-12 Total revenueRelated to mission $87,290$103,305
Part IX · Statement of functional expenses $131,958 across 12 lines filed
IX-7 Other salaries and wagesPrograms $45,420 · Management $5,047$50,467
IX-9 Other employee benefitsPrograms $241 · Management $27$268
IX-11c Accounting feesManagement $1,250$1,250
IX-12 Advertising and promotionPrograms $550$550
IX-13 Office expensesPrograms $424$424
IX-14 Information technologyPrograms $1,951 · Management $217$2,168
IX-16 OccupancyPrograms $19,233 · Management $2,138$21,371
IX-20 InterestPrograms $4,320$4,320
IX-22 Depreciation, depletion and amortizationPrograms $29,912$29,912
IX-23 InsurancePrograms $8,298 · Management $922$9,220
IX-24 Other expenses (24a–d)Programs $11,539$11,539
IX-24e All other expensesPrograms $469$469
IX-25 Total functional expensesPrograms $122,357 · Management $9,601 · Fundraising $0$131,958
Part X · Balance sheet $961,097 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $241,436$20,270
X-2 Savings and temporary cash investmentsStart of year $46,991$266,915
X-10c Land, buildings and equipment, netStart of year $700,317$673,912
X-16 Total assetsStart of year $990,840$961,097
X-17 Accounts payable and accrued expensesStart of year $2,550$1,460
X-24 Unsecured notes and loans payableStart of year $97,940$97,940
X-26 Total liabilitiesStart of year $100,490$99,400
X-27 Net assets without donor restrictionsStart of year $890,350$853,408
X-28 Net assets with donor restrictions$8,289
X-32 Total net assets or fund balancesStart of year $890,350$861,697
X-33 Total liabilities and net assetsStart of year $990,840$961,097
Part XI · Reconciliation of net assets $861,697 net assets at year end
XI-1 Total revenue$103,305
XI-2 Total expenses$131,958
XI-3 Revenue less expenses−$28,653
XI-4 Net assets at start of year$890,350
XI-10 Net assets at end of year$861,697

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

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