Form 990 for tax year 2024
Filed by TRUSTEES OF THE TW WOOD GALLERY.
Totals
- Total revenue
- $294,965
- Total expenses
- $328,928
- Contributions and grants received
- $35,930
- Grants paid
- $0
- Program service revenue
- $257,415
- Investment income
- $1,620
- Other revenue
- $0
- Total assets, end of year
- $635,968
- Total liabilities, end of year
- $335,782
- Net assets or fund balances, end of year
- $300,186
- Program services expenses (Part IX)
- $213,865
- Management and general expenses
- $95,038
- Fundraising expenses
- $20,025
- Program service expenses (Part III)
- $213,865
Program services were 65.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$2,155
-
1c · Fundraising events
$5,135
-
1e · Government grants (contributions)
$5,000
-
1f · All other contributions, gifts and grants
$23,640
-
2a · Program service revenue: Arts Education - Children and Adult Programs
total $250,238 · related or exempt $250,238 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Loan fees for art work
total $7,177 · related or exempt $7,177 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
other assets $5,646
-
7b · Less cost or other basis and sales expenses
other assets $4,026
-
7c · Gain or loss
securities $0 · other assets $1,620
-
7d · Net gain or loss
total $1,620 · related or exempt $1,620
-
8a · Fundraising events: contributions included on line 1c
$5,135
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $65,770 · program services $13,154 · management and general $39,462 · fundraising $13,154
-
6 · Compensation of disqualified persons
total $129,062 · program services $111,087 · management and general $13,481 · fundraising $4,494
-
10 · Payroll taxes
total $15,758 · program services $10,050 · management and general $4,281 · fundraising $1,427
-
11a · Fees: management
total $2,940 · management and general $2,940
-
11c · Fees: accounting
total $7,845 · management and general $7,845
-
11g · Fees: other
total $13,020 · program services $6,770 · management and general $6,250
-
12 · Advertising and promotion
total $619 · program services $619
-
13 · Office expenses
total $9,881 · management and general $8,931 · fundraising $950
-
14 · Information technology
total $4,508 · management and general $4,508
-
16 · Occupancy
total $46,378 · program services $44,280 · management and general $2,098
-
17 · Travel
total $619 · program services $619
-
19 · Conferences, conventions and meetings
total $80 · program services $80
-
23 · Insurance
total $10,005 · program services $7,642 · management and general $2,363
-
24a · Other expenses: Curatorial & Exhibition Expenses
total $12,295 · program services $12,295 · management and general $0 · fundraising $0
-
24b · Other expenses: Arts Education Expenses
total $3,532 · program services $3,532 · management and general $0 · fundraising $0
-
24c · Other expenses: Late Filing Penalty
total $2,879 · program services $0 · management and general $2,879 · fundraising $0
-
24d · Other expenses: Misc Expenses
total $3,737 · program services $3,737 · management and general $0 · fundraising $0
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $40,978 · end of year $15,124
-
2 · Savings and temporary cash investments
beginning of year $46,752 · end of year $1,738
-
3 · Pledges and grants receivable
beginning of year $0
-
4 · Accounts receivable
beginning of year $198 · end of year $753
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $7,341 · end of year $4,960
-
8 · Inventories for sale or use
beginning of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0
-
10a · Land, buildings and equipment: cost or other basis
$555,478
-
10b · Land, buildings and equipment: accumulated depreciation
$31,881
-
10c · Land, buildings and equipment, net
beginning of year $508,404 · end of year $523,597
-
12 · Investments: other securities
beginning of year $79,408 · end of year $89,796
-
17 · Accounts payable and accrued expenses
beginning of year $6,883 · end of year $4,076
-
23 · Secured mortgages and notes payable
beginning of year $337,467 · end of year $327,817
-
25 · Other liabilities
beginning of year $4,582 · end of year $3,889
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $334,149 · end of year $300,186
Mission and programs · 2024
Mission
Community enhancement through the exhibit of art from the collections and contemporary artists, arts education and community engagement.
Activities or mission (Part I)
Community enrichment through the exhibit of the collections, contemporary exhibits, arts education and community engagement.
-
Educational Programs: Approximately 250 children sessions were attended in art education programs over the course of the year (after school, breaks and summer camps). These programs were designed to stimulate the imagination and creativity of our youngest constituents. We also began offering a reinvigorated adult education program.
Expenses $185,831 · Revenue $250,238
-
Art Exhibits: The gallery welcomed approximately 6,000 visitors to varied art exhibits of the permanent collections, feature local artists and numerous Vermont based arts organizations.
Expenses $18,386 · Revenue $7,801
-
Curatorial: TWW maintains, preserves and exhibits a collection of over 2,000 artworks. These collections are a treasured community asset exhibited onsite and shared with Vermont institutions including the Vermont State House, Vermont Historical Society, Montpelier City Hall and the Kellogg Hubbard Library. Per our mission, in 2024 we acquired another TW Wood Painting in private sale for our collection titled Hannah Binding Shoes.
Expenses $9,648 · Revenue $14,177
As filed on the 2024 return.
Listed in Part VII
-
Sabrina Fadial
Executive Director
- Total calculated
- $65,769
- From this org
- $65,769
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Miccal MCMullen
Trustee
- Total calculated
- $0
- Hours/week
- 5
-
Justin Turcotte
Trustee
- Total calculated
- $0
- Hours/week
- 5
-
Jack McCullough
Trustee
- Total calculated
- $0
- Hours/week
- 5
-
Therese Mageau
President
- Total calculated
- $0
- Hours/week
- 10
-
Elliott Bent
Treasurer
- Total calculated
- $0
- Hours/week
- 10
-
Phillip Robertson
Secretary
- Total calculated
- $0
- Hours/week
- 10
-
Niki Sabado
Trustee
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 26 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202503159349305390
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