Interchange Inc
- Assets
- $300.8k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Milwaukee, WI
- Founding
- 07/1973
- Data as of
- 12/2021
- EIN
- 23-7175702
Organization Overview
Interchange Inc is located in Milwaukee, WI. The organization was established in 1973. According to its NTEE Classification (K31) the organization is classified as: Food Banks & Pantries, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, Interchange Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Interchange Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Interchange Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 17.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EMERGENCY FOOD ASSISTANCE TO NEEDY INDIVIDUALS IN MILWAUKEE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EMERGENCY FOOD ASSISTANCE TO NEEDY INDIVIDUALS IN MILWAUKEE. THE PANTRY HAS ONE PERMANENT LOCATION AND IS OPEN FOUR TIMES EACH WEEK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Neureuther Executive Director | Officer | 40 | $46,833 |
Beth Bruch Secretary | OfficerTrustee | 3 | $0 |
Robert Schultz Vice President | OfficerTrustee | 3 | $0 |
Allyson Nemec Director | Trustee | 3 | $0 |
Robert Ater Treasurer | OfficerTrustee | 3 | $0 |
Dawn Chapman Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,161,297 |
| Noncash contributions included in lines 1a–1f | $911,196 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,161,297 |
| Total Program Service Revenue | $0 |
| Investment income | $39 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,161,336 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $51,000 |
| Compensation of current officers, directors, key employees. | $5,100 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,569 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,134 |
| Advertising and promotion | $0 |
| Office expenses | $9,714 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,930 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,800 |
| Insurance | $1,285 |
| All other expenses | $0 |
| Total functional expenses | $1,099,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,060 |
| Savings and temporary cash investments | $183,414 |
| Pledges and grants receivable | $26,710 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,626 |
| Prepaid expenses and deferred charges | $80 |
| Net Land, buildings, and equipment | $25,940 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $300,830 |
| Accounts payable and accrued expenses | $1,078 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,078 |
| Net assets without donor restrictions | $273,042 |
| Net assets with donor restrictions | $26,710 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $300,830 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Interchange Inc has recieved totaling $50,793.
| Awarding Organization | Amount |
|---|---|
Greater Milwaukee Foundation Inc Milwaukee, WI PURPOSE: FRESH FRUITS AND VEGETABLES PROJECT | $20,000 |
Greater Milwaukee Foundation Inc Milwaukee, WI PURPOSE: FRESH FRUITS AND VEGETABLES PROJECT | $20,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $10,759 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $34 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeast Iowa Food Bank Inc Waterloo, IA | $13,006,987 | $17,224,102 |
Central Illinois Foodbank Springfield, IL | $12,612,118 | $17,823,321 |
The Food Group Minnesota Inc New Hope, MN | $6,821,261 | $14,957,380 |
Nourishing Hope Chicago, IL | $8,829,472 | $13,695,995 |
Second Harvest North Central Food Bank Inc Grand Rapids, MN | $4,978,294 | $11,898,743 |
North Country Food Bank Inc East Grand Forks, MN | $6,467,483 | $10,779,461 |
River Food Pantry Madison, WI | $3,265,959 | $11,088,833 |
Pauls Pantry Inc Green Bay, WI | $11,786,788 | $9,425,789 |
Christian Cupboard Emergency Food Shelf Oakdale, MN | $2,243,771 | $8,416,140 |
Kalamazoo Loaves & Fishes Kalamazoo, MI | $6,948,740 | $6,101,275 |
Second Harvest Northern Lakes Food Bank Duluth, MN | $13,546,559 | $7,764,335 |
Every Meal Roseville, MN | $3,501,075 | $6,310,521 |