Overview
What is The Tool Library Inc?
The Tool Library Inc is a nonprofit organization that offers a tool lending program, with 1,170 active members utilizing 4,520 tools in 14,554 transactions in 2022. This program saves the community approximately $587,355 and serves its charitable purpose by combating neighborhood blight. By providing tools, equipment, and resources, the organization empowers communities to create desired changes and contribute to community building, thereby promoting a positive impact.
Official website here: www.toollibrary.org
Is The Tool Library Inc legitimate?
The Tool Library Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Tool Library Inc submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $32,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $30,390
For more financial information, click here
Official website here: www.toollibrary.org
What is the mission statement of The Tool Library Inc?
The Tool Library Inc's mission is centered around providing a Tool Lending Program, serving 1,170 active members who utilized 4,520 tools in 14,554 transactions in 2022. This initiative saved the community an estimated $587,355 and supports the organization's charitable objective of combating neighborhood blight. By offering tools, equipment, and resources, The Tool Library Inc aims to empower communities to bring about the changes they desire. The ultimate goal is to utilize these tools to combat blight and foster a sense of community.
Official website here: www.toollibrary.org
What is the revenue of The Tool Library Inc?
The Tool Library Inc's revenue in 2023 was $240,805.
Official website here: www.toollibrary.org
Who are the executives of The Tool Library Inc and what are their salaries?
The average compensation at The Tool Library Inc during 2023 was $31,195. There are 2 employees and 373 volunteers at The Tool Library Inc.
Here are 19 key members and their salaries:
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Official website here: www.toollibrary.org
Where can I find the form 990 for The Tool Library Inc?
The Tool Library Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.toollibrary.org
Learn more at the official website: www.toollibrary.org
Mission Statement of The Tool Library Inc
The Tool Library Inc, an organization dedicated to its mission, operates a Tool Lending Program that aims to make a significant impact in its community. With over 1,170 active members, this nonprofit facilitates tool borrowing, resulting in 14,554 transactions and 4,520 tool loans in 2022 alone. By offering these tools, The Tool Library Inc fosters a collective savings of $587,355, directly contributing to its charitable purpose. This purpose lies in combating neighborhood blight and promoting community development. By providing the necessary tools, equipment, and resources, The Tool Library Inc empowers its community to bring about the change they desire, thereby strengthening their neighborhoods and fostering a sense of unity.
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Impact
October, 2024
The Tool Library Inc has made a significant impact on the Buffalo, NY community by facilitating access to essential tools and equipment. In 2022, 1,170 active members utilized the tool lending program, borrowing 4,520 tools across 14,554 transactions. This access translated into $587,355 in savings for community members, enabling individuals and groups to undertake various projects and improvements without the financial burden of purchasing tools outright.
By providing invaluable resources, The Tool Library Inc actively combats neighborhood blight, empowering residents to take initiative in enhancing their environments. This initiative not only fosters community engagement by encouraging collaboration and shared responsibility but also supports the idea that communities can create meaningful change when equipped with the right resources. Overall, the organization plays a pivotal role in building stronger, more resilient neighborhoods.
This information is meant to be a general summary of The Tool Library Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,098
- Program Service Revenue: $10,022
- Gross Receipts: $247,788
Assets and Liabilities:
- Total Assets: $275,985
- Total Liabilities: $367
- Net Assets: $275,618
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Late fees
Revenue
$6,556
Supertool rental incom
Revenue
$1,966
Dare to Repair
Revenue
$1,500
Organization Details
Principal Officer
Darren Cotton
Website
www.toollibrary.orgNTEE Category
Code: S20 - Community improvement
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