2025-11-17T13:34:06-06:00 2024-12-31 411360831 OLSEN THIELEN & CO LTD 2675 LONG LAKE ROAD ST PAUL MN 55113 990 2024-01-01 453809279 AMERICAN ASSOCIATION OF WOODTURNERS AMER 6514849094 222 LANDMARK CENTER 75 W 5TH ST ST PAUL MN 55102 CHARLES LOBAITO TREASURER 6514849094 2025-11-17 1 1 RYAN VETTRUS CPA P01243596 6514834521 2025-11-17 2024 2025-03-06 01:10:19Z CHARLES LOBAITO 222 LANDMARK CENTER 75 W 5TH ST ST PAUL MN 55102 2139726 0 X WWW.WOODTURNER.ORG X 2011 MN TO PROVIDE EDUCATION, INFORMATION AND ORGANIZATION TO THOSE INTERESTED IN WOODTURNING. 9 9 6 175 147952 0 262906 112343 1395434 1549869 222562 89141 114465 142767 1995367 1894120 13028 23850 0 0 396097 419450 0 0 256808 1299898 1405210 1709023 1848510 286344 45610 2473143 2582789 738736 757290 1734407 1825499 X OUR MISSION IS TO PROVIDE EDUCATION, INFORMATION, AND ORGANIZATION TO THOSE INTERESTED IN WOODTURNING - A BRANCH OF WOODWORKING CENTERED AROUND USING THE LATHE TO SHAPE WOOD. THE RESULTS RANGE FROM THE FAMILIAR TO THE PROFOUND: EVERYTHING FROM DECORATIVE AND FUNCTIONAL BOWLS, BOXES AND VESSELS TO FURNITURE AND ARCHITECTURAL SPINDLES, TOYS, TOOLS, MUSICAL INSTRUMENTS, AND EVEN SCULPTURAL ART. MEMBERS OF THE AAW INCLUDE PROFESSIONALS, AMATEURS, GALLERY OWNERS, COLLECTORS AND WOOD AND TOOL SUPPLIERS. 0 0 515781 609273 THE AAW INTERNATIONAL WOODTURNING SYMPOSIUM, HELD IN PORTLAND, OR WAS ATTENDED BY MORE THAN 1,200 IN PERSON REGISTERED ATTENDEES AND APPROXIMATELY 500 MORE FROM THE PUBLIC AND ONLINE. HELD OVER FOUR DAYS, THIS ANNUAL EVENT IS THE WORLD'S LARGEST GATHERING OF WOODTURNING ENTHUSIASTS AND OFFERS A PREMIER LEARNING OPPORTUNITY FOR WOODTURNERS. 493766 42688 THE AAW IS THE LEADING TRUSTED RESOURCE IN WOODTURNING EDUCATION AND EXECUTING OUR STRATEGY TO BECOME THE PREMIER WORLD-WIDE WOODTURNING EDUCATOR. THE AAW PUBLISHES A HIGH-QUALITY EDUCATIONAL JOURNAL, AMERICAN WOODTURNER, WHICH IS DISTRIBUTED TO ALL MEMBERS. CONTENT COVERS A BROAD RANGE OF TOPICS IMPORTANT TO THE WOODTURNING COMMUNITY. THE AAW IS ALSO HEAVILY VESTED IN THE DIGITAL LEARNING SPACE ENABLING ACCESS TO NEARLY 40 YEARS OF INTELLECTUAL PROPERTIES. 150691 819415 TOTAL MEMBERSHIP AT THE END OF 2024 WAS APPROXIMATELY 14,000. MEMBERSHIP RETENTION AND ACQUISITION OF NEW MEMBERS ARE CRITICAL PERFORMANCE MEASURES. 23850 23850 IN 2024, THE AAW DISBURSED $23,850 IN CASH GRANTS UNDER OUR EDUCATIONAL OPPORTUNITY GRANTS PROGRAM TO INDIVIDUALS, AFFILIATED LOCAL CHAPTERS AND SCHOOLS AND EDUCATIONAL INSTITUTIONS. THESE EOG GRANTS SUBSTANTIALLY INCREASE THE AAW'S REACH TO PROVIDE TANGIBLE LEARNING AND SERVICE OPPORTUNITIES. CHARITABLE DONATIONS OF ARTWORK BY OUR MEMBERS PROVIDE THE SOURCE OF GRANT FUNDING FOR THIS IMPORTANT EDUCATIONAL PROGRAM. 23850 23850 1184088 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 6 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 1 0 1 1 1 1 1 1 0 0 0 MN X GRETCHEN WILBRANDT 6514849094 75 WEST FIFTH STREET222 LANDMARK ST PAUL MN 55102 MIKE SUMMERER PRESIDENT 20.00 X X 0 0 0 RONALD DAY VICE PRESIDENT 10.00 X X 0 0 0 CHARLES LOBAITO TREASURER/ENDOWMENT TRUSTE 10.00 X X 0 0 0 LINDA BRITT SECRETARY 10.00 X X 0 0 0 RICHARD BAKER DIRECTOR 10.00 X 0 0 0 KC KENDALL DIRECTOR 10.00 X 0 0 0 JAY BROWN DIRECTOR 10.00 X 0 0 0 KIMBERLY WINKLE DIRECTOR 10.00 X 0 0 0 SALLY BURNETT DIRECTOR 10.00 X 0 0 0 JOHN HILL ENDOWMENT TRUSTEE 5.00 X 0 0 0 KEAN WERNER ENDOWMENT TRUSTEE 5.00 X 0 0 0 JENNIFER NEWBERG EXECUTIVE DIRECTOR 40.00 X 98197 0 3338 98197 0 3338 0 0 0 0 0 24000 88343 10728 112343 MEMBERSHIP DUES 900099 792644 792644 SYMPOSIUM 900099 609273 609273 AMERICAN WOODTURNER 513120 147952 147952 1549869 39379 39379 149772 100010 49762 49762 49762 155289 81981 73308 73308 106303 63615 42688 42688 MISCELLANEOUS 900099 26771 26771 26771 1894120 1471376 147952 162449 X 23850 23850 101534 38280 18929 44325 287028 108457 52990 125581 241 85 58 98 30647 11576 5667 13404 65243 17592 27281 20370 36670 2398 33580 692 25319 25319 194783 108311 75095 11377 4591 975 3605 11 157494 143393 4094 10007 117470 71997 45247 226 175425 175425 14576 14576 67381 3798 63478 105 JOURNAL FEES 248696 248696 OUTSIDE PRINTING 150405 150405 BANK CHARGES 74504 7523 58271 8710 JOURNAL DIRECT ADVERTIS 32398 31910 84 404 40255 14098 4659 21498 1848510 1184088 407614 256808 450 450 595681 443606 48670 100575 25726 34071 46336 104342 282854 281719 14731 1135 1292859 1449920 448690 448690 2473143 2582789 57778 143320 680958 613970 738736 757290 X 1240184 1347156 494223 478343 1734407 1825499 2473143 2582789 X 45610 80632 -35150 X X 0 1 X 1 0 X 371079 168367 79903 262906 112343 994598 1112274 1292928 1458481 1473630 1656172 6993485 1483353 1461295 1538384 1736536 1768515 7988083 0 0 0 7988083 19307 11291 13673 17119 39379 100769 19307 11291 13673 17119 39379 100769 291142 26367 25553 35369 26771 405202 1793802 1498953 1577610 1789024 1834665 8494054 0.94040 0.94110 0.01190 0.01060 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2020 AMOUNT: $ 291,142. 2021 AMOUNT: $ 26,367. 2022 AMOUNT: $ 25,553. 2023 AMOUNT: $ 35,369. 2024 AMOUNT: $ 26,771. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 279415 7050 39773 -25015 301223 252567 14962 37847 -25961 279415 324338 1214 -58390 14595 252567 278535 38078 45212 37487 324338 253484 41863 25410 42222 278535 0.00000 0.60250 0.39750 0 0 202855 201720 1135 79999 79999 0 1135 PERMANENT COLLECTION 213690 KAPLAN ART COLLECTION 235000 448690 X 2120348 80632 80632 2039716 -145596 -145596 1894120 1994106 145596 145596 1848510 0 1848510 PART III, LINE 4: THE ASSOCIATION'S PERMANENT COLLECTION OF WOODTURNED ART IS EXHIBITED AT THE GALLERY OF WOOD ART, AND FURTHERS THE ORGANIZATION'S EXEMPT PURPOSE BY ILLUSTRATING THE RANGE OF ARTISTIC EXPRESSION AND TECHNIQUES USED BY MASTERS OF THE FIELD, AND THE HISTORY OF WOODTURNING. PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT FUNDS IS TO ENSURE FINANCIAL STABILITY BY PROVIDING A STEADY STREAM OF INVESTMENT INCOME WHICH IS AVAILABLE FOR RESTRICTED AND UNRESTRICTED PURPOSES. THE ENDOWMENT FUNDS WERE TRANSFERRED TO THE AMERICAN ASSOCIATION OF WOODTURNERS (EIN 45-3809279) FROM AMERICAN ASSOCIATION OF WOODTURNERS INC (EIN 74-2416299) UPON MERGER OF THE TWO ORGANIZATIONS ON FEBRUARY 28, 2012. PART X, LINE 2: ASC 740 FOOTNOTE FROM AUDITED FINANCIAL STATEMENTS: THE ASSOCIATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THEREFORE, THE STATEMENTS DO NOT INCLUDE A PROVISION FOR INCOME TAXES, BUT THE ASSOCIATION IS SUBJECT TO INCOME TAXES ON NET UNRELATED BUSINESS INCOME. THE ASSOCIATION GENERATES UNRELATED BUSINESS INCOME FROM ITS PUBLICATION. THERE WAS TAX LIABILITY OF $0 FOR 2024 AND 2023. PAYMENT FOR INCOME TAXES WERE MADE FOR $141 IN 2024 AND $129 IN 2023. THE ASSOCIATION REVIEWS INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS TO DETERMINE IF THERE ARE ANY INCOME TAX UNCERTAINTIES. THIS INCLUDES POSITIONS THAT THE ENTITY IS EXEMPT FROM INCOME TAXES OR NOT SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME. THE ASSOCIATION RECOGNIZES TAX BENEFITS FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITIONS. THE ASSOCIATION HAS IDENTIFIED NO INCOME TAX UNCERTAINTIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -63,615. FUNDRAISING EXPENSES -81,981. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 63,615. FUNDRAISING EXPENSE 81,981. AAW EDUCATIONAL BENEFIT LIVE AUCTIO 65136 65136 49791 POP 40190 40190 28384 2 49963 49963 3806 155289 155289 81981 81981 73308 1 SCHOOL/INSTITUTION 8 11000 LOCAL CHAPTER 4 5000 INDIVIDUALS 6 6000 PART I, LINE 2: THE AAW DISTRIBUTES GRANTS TO INDIVIDUALS, LOCAL AFFILIATED CHAPTERS, AND OTHER NONPROFIT ENTITIES TO SUPPORT EDUCATION, EQUIPMENT AND ACCESS TO WOODTURNING INFORMATION AND COMMUNITY. GRANT PROPOSALS ARE AWARDED BASED ON EVALUATION OF PROPOSALS SOLICITED. GRANT AWARDS STIPULATE CONTRACTUAL ACCEPTANCE OF REQUIRED GRANT COMPLETION REPORT. FORM 990, PART VI, SECTION A, LINE 6 AAW IS A MEMBERSHIP ORGANIZATION WITH VARIOUS MEMBERSHIP LEVELS, INCLUDING, GENERAL, FAMILY, YOUTH (UNDER 18), AND BUSINESS. AAW DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A ALL CLASSES OF MEMBERSHIP HAVE VOTING RIGHTS, E.G., INDIVIDUAL, BUSINESS, PROFESSIONAL, ETC. FORM 990, PART VI, SECTION A, LINE 7B THE AAW BYLAWS GRANT THE BOARD OF DIRECTORS FULL AUTHORITY AND DISCRETION TO ALTER OR AMEND THE BYLAWS. HOWEVER, IF A MAJORITY OF THE BOARD DETERMINES THAT ADDITION, REVISION OR REPEAL OF A FUNDAMENTAL PRINCIPLE OF THE BYLAWS IS REQUIRED, THEN IT CAN DECLARE A CALL FOR A VOTE OF APPROVAL BY MEMBERS CASTING BALLOTS. FORM 990, PART VI, SECTION A, LINE 8B PROCEEDINGS DURING SOME BOARD COMMITTEE ACTIVITIES ARE MAINTAINED AS INFORMAL. FORM 990, PART VI, SECTION B, LINE 10B DATING TO OUR ORIGIN IN 1986 THE AAW HAS HAD ONLY MAINTAINED LOOSE AFFILIATIONS WITH OUR LOCALS CHAPTERS. THEY REMAIN WHOLLY INDEPENDENT ORGANIZATIONS FOR WHICH AAW DOES NOT EXERCISE ANY FIDUCIARY OR GOVERNANCE CONTROLS, HENCE NO WRITTEN POLICIES OR PROCEDURES. CONSISTENT WITH OUR MUTUAL EDUCATIONAL MISSIONS, AAW PROVIDES CHAPTERS WITH EDUCATIONAL RESOURCES. FORM 990, PART VI, SECTION B, LINE 11B DRAFT FORM 990 WILL BE REVIEWED BY THE EXECUTIVE DIRECTOR AND THE AAW FINANCE COMMITTEE, WHICH IS CHAIRED BY THE AAW TREASURER. SUBSEQUENT TO THIS REVIEW, AND ACTING ON THE RECOMMENDATION OF THE FINANCE COMMITTEE, THE FORM 990 WILL BE APPROVED BY THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S WRITTEN CONFLICT OF INTEREST POLICY ADDRESSES ISSUES RELATED TO CONFLICTS OF INTEREST AND PROCEDURES FOR DISCLOSURE AND MANAGEMENT OF ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE AAW BOARD EVALUATES THE EXECUTIVE DIRECTOR'S JOB PERFORMANCE IN TWO AREAS: ORGANIZATIONAL ACCOMPLISHMENT OF THE STRATEGIC PLAN AND ANNUAL GOALS. ADJUSTMENTS TO THE EXECUTIVE DIRECTOR'S BASE SALARY THAT WAS NEGOTIATED AT THE TIME OF HIRE ARE SUBJECT TO AN ANNUAL PERFORMANCE REVIEW BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S BYLAWS, FINANCIALS, AND CODE OF ETHICS ARE POSTED ON ITS WEBSITE. OTHER GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER FEES: PROGRAM SERVICE EXPENSES 2,398. MANAGEMENT AND GENERAL EXPENSES 33,580. FUNDRAISING EXPENSES 692. TOTAL EXPENSES 36,670. FORM 990, PART XI, LINE 9: PRIOR PERIOD ADJUSTMENT -35,150. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.