Toolbank Usa Inc
- Assets
- $422.0k
- Revenue
- $439.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Richmond, VA
- Founding
- 07/2010
- Data as of
- 12/2021
- EIN
- 46-2383695
Organization Overview
Toolbank Usa Inc is located in Richmond, VA. 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 $439.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $359.0k during the year ending 12/2021. While expenses have increased by 16.4% 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
RICHMOND COMMUNITY TOOLBANK PROVIDES TOOLS TO ENHANCE THE CHARITABLE SECTOR'S CAPACITY TO SERVE, FACILITATING HANDS-ON VOLUNTEERISM IN THE GREATER RICHMOND AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOOL LENDING PROGRAM - THE TOOLBANK LENDS TOOLS TO NOT-FOR-PROFIT ORGANIZATIONS YEAR ROUND TO EQUIP VOLUNTEERS IN VARIOUS COMMUNITY PROJECTS AND LOCAL INITIATIVES THROUGHOUT THE GREATER RICHMOND AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Toby Vernon Executive Di | Officer | 40 | $65,000 |
Clement Teden Vice Preside | OfficerTrustee | 3 | $0 |
Rob Glownia President | OfficerTrustee | 3 | $0 |
Amanda Galvin Secretary | OfficerTrustee | 3 | $0 |
Farran Davis Past Preside | OfficerTrustee | 3 | $0 |
David Swartz Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,955 |
| Related organizations | $0 |
| Government grants | $12,812 |
| All other contributions, gifts, grants, and similar amounts not included above | $403,425 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $435,192 |
| Total Program Service Revenue | $21,776 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$17,165 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $439,803 |
| 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. | $65,000 |
| Compensation of current officers, directors, key employees. | $3,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,652 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,233 |
| Office expenses | $4,438 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,915 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,787 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,354 |
| Insurance | $5,064 |
| All other expenses | $0 |
| Total functional expenses | $358,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $391,351 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,986 |
| 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 | $21,070 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,582 |
| Total assets | $421,989 |
| 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 | $416,989 |
| Net assets with donor restrictions | $5,000 |
| 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 | $421,989 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Toolbank Usa Inc has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $60,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thread Capital Raleigh, NC | $10,988,241 | $1,469,550 |
Shepherd University Foundation Supporting Organization Shepherdstown, WV | $18,727,712 | $1,761,060 |
Chpa Educational Foundation Washington, DC | $1,525,547 | $2,088,774 |
National Association Of Educational Procurement Inc Columbia, MD | $1,316,674 | $1,317,675 |
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 |
American Bankers Association Community Engagement Foundation Washington, DC | $9,931,719 | $1,656,077 |
Nonprofit Village Center Inc Rockville, MD | $400,485 | $644,836 |
Friends Of Dugas Community Park Inc Scottsville, KY | $5,738,305 | $521,676 |
Sb Works Washington, DC | $367,219 | $574,807 |
Gaston Innovation Group Inc Belmont, NC | $343,119 | $240,786 |
Carolina Common Enterprise Durham, NC | $153,042 | $386,090 |