Toolbank Usa Inc
- Assets
- $1.4m
- Revenue
- $782.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Cincinnati, OH
- Founding
- 07/2010
- Data as of
- 12/2023
- EIN
- 45-2469360
Organization Overview
Toolbank Usa Inc is located in Cincinnati, OH. The organization was established in 2010. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Toolbank USA Inc employed 4 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 12/2023, Toolbank USA Inc generated $782.6k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $427.3k during the year ending 12/2023. While expenses have increased by 7.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CINCINNATI TOOLBANK SERVES COMMUNITY-BASED ORGANIZATIONS BY PROVIDING TOOLS, EQUIPMENT, AND EXPERTISE TO HELP THEM REACH THEIR MOST AMBITIOUS GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CINCINNATI TOOLBANK IS A NONPROFIT ORGANIZATION THAT LENDS TOOLS, EQUIPMENT AND EXPERTISE TO CHARITABLE ORGANIZATIONS TO HELP THEM INCREASE THEIR IMPACT AND REACH THEIR MOST AMBITIOUS GOALS. WHETHER VOLUNTEERS ARE PLANTING TREES, TENDING TO COMMUNITY GARDENS, PAINTING, REPAIRING HOMES, OR RAISING AWARENESS AND FUNDS FOR THE CAUSES CLOSEST TO THEIR HEART, THE TOOLBANK IS PROVIDING THE RIGHT TOOLS AND EQUIPMENT TO GET THE JOB DONE AND TO FURTHER THE MISSIONS OF THEIR NONPROFIT MEMBERS. CURRENTLY, NO OTHER PROGRAM EXISTS IN THE CINCINNATI AREA THAT LENDS TOOLS TO NONPROFITS. THE TOOLBANK HAS PROVEN TO BE A UNIQUE AND MUCH-NEEDED RESOURCE FOR OUR SERVICE AND VOLUNTEER COMMUNITY AND HAS HAD A TREMENDOUS IMPACT, HELPING OVER 600 NONPROFIT AGENCIES BY PROVIDING THEM WITH MORE THAN $11,200,000 OF HIGH-QUALITY TOOLS SINCE OPENING IN 2012.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Reckman President | Trustee | 2 | $0 |
Lonnie Grayson Vice President | Trustee | 2 | $0 |
Mandi Rassel Tresurer | Trustee | 2 | $0 |
Zachary Scheid Secretary | Trustee | 2 | $0 |
Cheryl Neilheisel Board Member | Trustee | 2 | $0 |
Christina Croswell Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,963 |
| All other contributions, gifts, grants, and similar amounts not included above | $566,426 |
| Noncash contributions included in lines 1a–1f | $143,286 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $627,389 |
| Total Program Service Revenue | $93,610 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,400 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,233 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $782,570 |
| 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. | $87,000 |
| Compensation of current officers, directors, key employees. | $17,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $140,892 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,701 |
| Payroll taxes | $15,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,282 |
| Office expenses | $8,385 |
| Information technology | $4,856 |
| Royalties | $0 |
| Occupancy | $49,063 |
| Travel | $2,298 |
| 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 | $43,435 |
| Insurance | $11,429 |
| All other expenses | $0 |
| Total functional expenses | $427,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,078 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,171 |
| 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 | $3,025 |
| Net Land, buildings, and equipment | $1,192,788 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,044 |
| Total assets | $1,409,106 |
| Accounts payable and accrued expenses | $22,599 |
| Grants payable | $0 |
| Deferred revenue | $2,700 |
| 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 | $502,090 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $527,389 |
| Net assets without donor restrictions | $861,735 |
| Net assets with donor restrictions | $19,982 |
| 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 | $1,409,106 |