Toolbank Usa Inc
- Assets
- $1.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Atlanta, GA
- Founding
- 07/2010
- Data as of
- 12/2021
- EIN
- 90-0386790
Organization Overview
Toolbank Usa Inc is located in Atlanta, GA. 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 7 individuals. This organization is a parent organization of 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 $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.2%) 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
TOOLBANK USA STRENGTHENS COMMUNITIES THROUGH THE COLLABORATIVE ESTABLISHMENT OF TOOLBANKS ACROSS THE US AND THE PROVISIONS OF INFRASTRUCTURE SUPPORT TO PROMOTE CONSISTENCY AND EXCELLENCE FOR ALL LOCAL TOOLBANKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOOLBANK USA SUPPORTED TOOLBANK AFFILIATES IN 2018. TOOLBANK USA PROVIDED KEY TECH SUPPORT SERVICES TO THESE AFFILIATES ALONG WITH OPERATIONAL EXPERTISE AND IN-KIND TOOLKIT DONATIONS. TOOLBANK USA ALSO OPERATED THE TOOLBANK DIASTER SERVICES WHICH DEPLOYED MOBILE TOOL TRAILERS TO MAJOR DIASTERS FOR RESPONSE AND RECOVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patty Russart CEO | Officer | 2 | $0 |
Kathryn Shipe Board Director | Trustee | 5 | $0 |
Camille Smith Mcmakin Secretary | Trustee | 5 | $0 |
Melissa Hill Dees Board Director | Trustee | 2 | $0 |
Paul Mitchell Board Director | Trustee | 2 | $0 |
Krish Das Board Director | Trustee | 2 | $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 | $1,185,406 |
| Noncash contributions included in lines 1a–1f | $110,006 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,185,406 |
| Total Program Service Revenue | $0 |
| Investment income | $20 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,269 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,698 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,196,264 |
| 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. | $547,170 |
| Compensation of current officers, directors, key employees. | $32,830 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $20,398 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,593 |
| Office expenses | $54,204 |
| Information technology | $24,053 |
| Royalties | $0 |
| Occupancy | $68,389 |
| Travel | $16,704 |
| 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 | $89,004 |
| Insurance | $29,044 |
| All other expenses | $0 |
| Total functional expenses | $1,001,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,028,298 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $55,463 |
| 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 | $272,032 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $132,083 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,266 |
| Total assets | $1,496,142 |
| Accounts payable and accrued expenses | $19,836 |
| 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 | $1,045 |
| Total liabilities | $20,881 |
| Net assets without donor restrictions | $1,246,933 |
| Net assets with donor restrictions | $228,328 |
| 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 | $1,496,142 |
Grants Awarded
Over the last fiscal year, Toolbank Usa Inc has awarded $16,511 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CHICAGO COMMUNITY TOOLBANK PURPOSE: TO SUPPORT OPERATIONS | $6,535 |
Atlanta, GA PURPOSE: TO SUPPORT OPERATIONS | $5,424 |
Houston, TX PURPOSE: TO SUPPORT OPERATIONS | $3,042 |
Charlotte, NC PURPOSE: TO SUPPORT OPERATIIONS | $1,510 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Toolbank Usa Inc has recieved totaling $954,342.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $430,529 |
Good360 Alexandria, VA PURPOSE: TO ASSIST THOSE IN NEED. | $258,813 |
Thdf Ii Inc Atlanta, GA PURPOSE: To assist local charities | $245,000 |
Thunderbirds Charities Phoenix, AZ PURPOSE: COMMUNITY OUTREACH/QUALITY OF LIFE | $10,000 |
National Voluntary Organizations Active In Disaster Inc Alexandria, VA PURPOSE: PROGRAM EXPENSES | $10,000 |
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 |
Toolbank Usa Inc Atlanta, GA | $1,496,142 | $1,196,264 |
Main Street Alabama Birmingham, AL | $445,017 | $593,439 |
Gaston Innovation Group Inc Belmont, NC | $343,119 | $240,786 |
Carolina Common Enterprise Durham, NC | $153,042 | $386,090 |
Revolt Ministries Panama City, FL | $267,835 | $264,997 |
Toolbank Usa Inc Charlotte, NC | $490,948 | $385,141 |
1edtech Foundation Lake Mary, FL | $161,617 | $142,500 |
Material Handling Educational Foundation Inc Charlotte, NC | $1,356,131 | $261,279 |
Mdglcc Foundation Inc Miami Beach, FL | $52,531 | $0 |
Consider The Lilies Thrift Shop Inc High Springs, FL | $28,314 | $0 |