Resources Exchange Association
- Assets
- $22.3m
- Revenue
- -$1.6m
- Investments
- $0.0
- Employees
- 29
- Location
- Burlington, NC
- Founding
- 08/1985
- Data as of
- 12/2021
- EIN
- 54-1297868
Organization Overview
Resources Exchange Association is located in Burlington, NC. The organization was established in 1985. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Resources Exchange Association employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Resources Exchange Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVE AS A CONSUIT FOR SURPLUS INVENTORY DONANTIONS AND PROVIDE THEM TO 501(C)(3) ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVE AS A CONDUIT FOR SURPLUS INVENTORY
SERVE AS A CONDUIT FOR SURPLUS INVENTORY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Shepherd Senior VP | OfficerTrustee | 40 | $63,900 |
C R Shepherd President | OfficerTrustee | 40 | $63,400 |
Susan Wright Sec/treasure | OfficerTrustee | 40 | $31,194 |
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 | $11,851,833 |
| Noncash contributions included in lines 1a–1f | $11,443,245 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,851,833 |
| Total Program Service Revenue | $0 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$13,604,168 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$1,606,035 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $748,475 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $58,907 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,557 |
| Fees for services: Accounting | $2,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,113 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $307,751 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $65,978 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,864 |
| Insurance | $34,672 |
| All other expenses | $136,140 |
| Total functional expenses | $1,796,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,361 |
| 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 | $21,263,495 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,000,845 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,339,701 |
| 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 | $154,255 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,075 |
| Total liabilities | $164,330 |
| Net assets without donor restrictions | $22,175,371 |
| 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 | $22,339,701 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Resources Exchange Association has recieved totaling $1,216,676.
| Awarding Organization | Amount |
|---|---|
National Association For The Exchange Of Industrial Resources I Galesburg, IL PURPOSE: CARE OF ILL, NEEDY, OR MINOR | $1,216,676 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Aerospace Industries Association Of America Inc Arlington, VA | $34,239,387 | $18,520,879 |
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Pharmaceutical Industry Labor Management Association Alexandria, VA | $483,613 | $14,704,562 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |