Toolbank Usa Inc
- Assets
- $97.8k
- Revenue
- $230.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Phoenix, AZ
- Founding
- 07/2010
- Data as of
- 12/2021
- EIN
- 46-2561905
Organization Overview
Toolbank Usa Inc, operating under the name Phoenix ToolBank, is located in Phoenix, AZ. 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, Phoenix ToolBank employed 3 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Phoenix ToolBank 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, Phoenix ToolBank generated $230.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $234.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 7 years. 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
PHOENIX TOOLBANK SERVES COMMUNITY-BASED ORGANIZATIONS BY PROVIDING TOOLS EQUIPMENT AND EXPERTISE TO EMPOWER THEIR MOST AMBITIOUS PROJECTS. THE TOOLS AND EQUIPMENT ARE PROVIDED AT LOW COST SUCH THAT ORGANIZATIONS CAN DIRECT THEIR DOLLARS TOWARD PROGRAMMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOOL LENDING PROGRAM: THE ORGANIZATION LOANS TOOLS AND EQUIPMENT TO A VARIETY OF CHARITABLE PARTNERS TO STRENGTHEN ENHANCE AND CELEBRATE OUR SHARED COMMUNITY THROUGH THE WORK OF VOLUNTEERS STUDENTS AND STAFF. THESE TOOLS RANGE FROM POWER TOOLS TO SUPPORT BUILDING PROJECTS TO HANDHELD TOOLS SUCH AS SHOVELS AND RAKES TO PLANT COMMUNITY GARDENS TO PAINTING SUPPLIES TO SPECIAL EVENT ITEMS SUCH AS TABLES AND CHAIRS. THESE TOOLS MAXIMIZE NONPROFITS' FINANCIAL AND HUMAN RESOURCES WHILE EMPOWERING THEM TO IMPROVE COMMUNITY ENGAGEMENT TO ACHIEVE GREATER IMPACT FOR THOSE WE SERVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jana Smith Executive Director | Officer | 40 | $75,794 |
Sherida Colvin Secretary | OfficerTrustee | 3 | $0 |
Nancy Farrington President | OfficerTrustee | 3 | $0 |
Gonzo Gonzalez Vice President | OfficerTrustee | 3 | $0 |
Michael Monterrubio Treasurer | OfficerTrustee | 3 | $0 |
Zach Barness Director Through 4 21 | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,268 |
| Related organizations | $6,263 |
| Government grants | $32,675 |
| All other contributions, gifts, grants, and similar amounts not included above | $141,342 |
| Noncash contributions included in lines 1a–1f | $72,554 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,548 |
| Total Program Service Revenue | $16,694 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,578 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,549 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $230,369 |
| 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. | $75,794 |
| Compensation of current officers, directors, key employees. | $15,159 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,919 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,787 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $928 |
| Advertising and promotion | $0 |
| Office expenses | $3,822 |
| Information technology | $1,208 |
| Royalties | $0 |
| Occupancy | $57,403 |
| 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 | $1,250 |
| Depreciation, depletion, and amortization | $30,611 |
| Insurance | $2,800 |
| All other expenses | $0 |
| Total functional expenses | $234,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,832 |
| 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 | $49,127 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,850 |
| Total assets | $97,809 |
| 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 | $97,809 |
| Net assets with donor restrictions | $0 |
| 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 | $97,809 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Toolbank Usa Inc has recieved totaling $5,424,611.
| Awarding Organization | Amount |
|---|---|
Valley Of The Sun United Way Phoenix, AZ PURPOSE: Program Support | $5,424,611 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Emerging Technology Fund Concord, CA | $35,282,028 | $1,248,904 |
Northeast Graffiti Busters Sun Valley, CA | $817,065 | $2,704,184 |
California Association For Microenterprise Opportunity San Francisco, CA | $2,292,930 | $2,410,001 |
Colorado Procurement Technical Assistance Center Colorado Springs, CO | $235,307 | $1,038,092 |
Northern California Allied Trades Emeryville, CA | $168,752 | $814,434 |
Launchpad Development Five Llc Redwood City, CA | $8,071,814 | $746,991 |
Mcsweeny Farms Community Association Canyon Lake, CA | $1,155,887 | $728,568 |
Redding Tourism Marketing Group Inc Anderson, CA | $1,902,850 | $1,121,807 |
Thrive Alliance Redwood City, CA | $209,347 | $486,186 |
Nor Cal Rental Property Association Inc Stockton, CA | $458,634 | $496,721 |
Chico State Construction Management Education Foundation Chico, CA | $1,236,830 | $401,156 |
Preserve Community Services Irvine, CA | $459,457 | $493,023 |