Industrial Commons

Organization Overview

Industrial Commons is located in Morganton, NC. The organization was established in 2015. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Industrial Commons employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Industrial Commons 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, Industrial Commons generated $4.6m in total revenue. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 91.8% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE LONG-TERM ECONOMIC AND SOCIETAL BENEFITS IN RURAL WESTERN NORTH CAROLINA AND NEIGHBORING REGIONS BY LESSENING THE BURDENS OF GOVERNMENT AND DEVELOPING PUBLIC ASSETS THAT ENHANCE THE RETENTION AND CREATION OF SMALL TO MID-SIZE MANUFACTURING FIRMS AND MEANINGFUL, GAINFUL EMPLOYMENT; BY PROVIDING ECONOMIC, BUSINESS AND VOCATIONAL EDUCATION SERVICES TO WORKERS AND BUSINESS OWNERS; AND BY SUSTAINABLY ENHANCING THE ECONOMIC WELL-BEING OF ALL MEMBERS OF A COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE INDUSTRIAL COMMONS FOUNDS AND GROWS INTERCONNECTED ENTERPRISES THAT SOLVE INDUSTRIAL PROBLEMS FOR BUSINESSES AND WORKERS AND MANUFACTURES HOPE FOR THE PEOPLE OF WESTERN NORTH CAROLINA.THE INDUSTRIAL COMMONS FULFILLS THEIR MISSION BY ENHANCING THE RETENTION AND CREATION OF SMALL TO MID-SIZE MANUFACTURING FIRMS AND MEANINGFUL, GAINFUL EMPLOYMENT; BY PROVIDING ECONOMIC, BUSINESS AND VOCATIONAL EDUCATION SERVICES TO WORKERS AND BUSINESS OWNERS; AND BY SUSTAINABLY ENHANCING THE ECONOMIC WELL-BEING OF ALL MEMBERS OF A COMMUNITY.


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Board, Officers & Key Employees

Name (title)Compensation
Molly Hemstreet
Co-Executive Director
$75,244
Sara Chester
Co-Executive Director
$61,072
Bobby Carswell
Director
$54,865
Sharley Mendoza Perez
Director
$44,273
Alan Clark
Chairman
$0
Alan Wood
Vice Chairman
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Sharley And Co
Product Manufacturing
$231,881
Quinter Textile Group
Product Manufacturing
$128,991
Opportunity Threads
Product Manufacturing
$113,610
Diamond Brand Gear
Product Manufacturing
$122,536
Parker Medical
Product Manufacturing
$111,662
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $963,805
All other contributions, gifts, grants, and similar amounts not included above$3,074,284
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$4,038,089
Total Program Service Revenue$217,692
Investment income $3,436
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 $293,278
Miscellaneous Revenue$0
Total Revenue $4,558,553

Grants Awarded

Over the last fiscal year, Industrial Commons has awarded $91,500 in support to 6 organizations.

Grant RecipientAmount

BURKE COUNTY PUBLIC SCHOOLS

PURPOSE: COVID-19

$24,000

BLUE RIDGE HEALTHCARE SYSTEM INC

Org PageRecipient Profile

Morganton, NC

PURPOSE: COVID-19

$24,000

BURKE COUNTY HEALTH DEPARTMENT

PURPOSE: COVID-19

$15,000

THE OUTREACH CENTER

Org PageRecipient Profile

Morganton, NC

PURPOSE: COVID-19

$15,000

BURKE UNITED CHRISTIAN MINISTRIES

Org PageRecipient Profile

Morganton, NC

PURPOSE: COVID-19

$7,500

GOOD SAMARITAN CLINIC INC

Org PageRecipient Profile

Morganton, NC

PURPOSE: COVID-19

$6,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Industrial Commons has recieved totaling $25,000.

Awarding OrganizationAmount
Vf Foundation

Wilmington, DE

PURPOSE: MATERIAL RETURN - CUSTOM CIRCULARITY

$25,000
View Grant Recipient Profile

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