Toolbank Usa Inc
- Assets
- $490.9k
- Revenue
- $385.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Charlotte, NC
- Founding
- 07/2010
- Data as of
- 12/2021
- EIN
- 27-1602981
Organization Overview
Toolbank Usa Inc is located in Charlotte, NC. The organization was established in 2010. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Toolbank USA Inc employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Toolbank USA 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, Toolbank USA Inc generated $385.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $249.7k during the year ending 12/2021. While expenses have increased by 5.6% 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
TO STEWARD AN INVENTORY OF TOOLS FOR LENDING TO CHARITABLE ORGANIZATIONS TO INCREASE THEIR IMPACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REBUILDING NEIGHBORHOODS BY LENDING TOOLS AND EQUIPMENT FOR COMMUNITY SERVICE PROJECTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aj Jobe Secretary | Officer | 2 | $0 |
Mike Tropsha Vice President | Officer | 2 | $0 |
Daniel Stewart Jr Treasurer | Officer | 2 | $0 |
Beth Bjorlo President | Officer | 2 | $0 |
Tim Dugan Director | Trustee | 1 | $0 |
Merissa Hannah Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,585 |
| All other contributions, gifts, grants, and similar amounts not included above | $282,000 |
| Noncash contributions included in lines 1a–1f | $62,641 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,585 |
| Total Program Service Revenue | $77,768 |
| Investment income | $55 |
| 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 | $385,141 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $112,824 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,700 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $672 |
| Office expenses | $1,217 |
| Information technology | $1,337 |
| Royalties | $0 |
| Occupancy | $57,527 |
| 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 | $23,682 |
| Insurance | $6,689 |
| All other expenses | $3,144 |
| Total functional expenses | $249,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $320,609 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $141,138 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,201 |
| Total assets | $490,948 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $445,998 |
| Net assets with donor restrictions | $44,950 |
| 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 | $490,948 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Toolbank Usa Inc has recieved totaling $33,406.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $25,000 |
Thdf Ii Inc Atlanta, GA PURPOSE: To assist local charities | $7,500 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $802 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $104 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thread Capital Raleigh, NC | $10,988,241 | $1,469,550 |
University Center Facilities Corporation Iii Rock Hill, SC | $20,160,386 | $1,094,263 |
Hampton-Newport News Community Services Board Property Company Hampton, VA | $20,313,869 | $1,743,517 |
Self Storage Association Foundation Alexandria, VA | $6,163,793 | $2,330,620 |
Toolbank Usa Inc Atlanta, GA | $1,496,142 | $1,196,264 |
Gaston Innovation Group Inc Belmont, NC | $343,119 | $240,786 |
Carolina Common Enterprise Durham, NC | $153,042 | $386,090 |
Toolbank Usa Inc Richmond, VA | $421,989 | $439,803 |
Community Association Institute Research Foundation Falls Church, VA | $538,984 | $383,243 |
Toolbank Usa Inc Charlotte, NC | $490,948 | $385,141 |
Material Handling Educational Foundation Inc Charlotte, NC | $1,356,131 | $261,279 |
Virginia Industry Foundation Richmond, VA | $60,340 | $110,009 |