Civic Intelligence

Industrial Commons

990 • Fiscal year 2018 • EIN 47-2080338

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

Organization ProfileTHEINDUSTRIALCOMMONS.ORG
PO Box 71Morganton, NC 28680

(828) 674-3141

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.01x

Higher debt load relative to assets than 18% of similar nonprofits.

2018 filings • NTEE J • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

15th percentile

0.01x

Higher debt load relative to revenue than 15% of similar nonprofits.

2018 filings • NTEE J • $1M-$5M nonprofits • Source year 2018

Net Margin

99th percentile

86%

Higher net margin than 99% of similar nonprofits.

2018 filings • NTEE J • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

24th percentile

$31,384

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2018 filings • NTEE J • $1M-$5M nonprofits • Source year 2018

Asset Growth

99th percentile

2093%

Faster asset growth than 99% of similar nonprofits.

2018 filings • NTEE J • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

99th percentile

1216%

Faster revenue growth than 99% of similar nonprofits.

2018 filings • NTEE J • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$1,301,351

Up $1,242,009 (+2093%) from 2017

Net Assets

Up

$1,288,936

Up $1,230,341 (+2100%) from 2017

Liabilities

Up

$12,415

Up $11,668 (+1562%) from 2017

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin99th percentile

Revenue

Up

$1,344,220

Up $1,242,077 (+1216%) from 2017

Expenses

Up

$187,103

Up $119,785 (+178%) from 2017

Net Income

Up

$1,157,117

Up $1,122,292 (+3223%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2017: $59,342Liabilities 2017: $747Net Assets 2017: $58,5952017Assets 2018: $1,301,351Liabilities 2018: $12,415Net Assets 2018: $1,288,9362018Assets 2019: $1,107,828Liabilities 2019: $31,208Net Assets 2019: $1,076,6202019Assets 2020: $3,601,215Liabilities 2020: $410,271Net Assets 2020: $3,190,9442020Assets 2021: $6,060,975Liabilities 2021: $56,905Net Assets 2021: $6,004,0702021Assets 2022: $6,820,044Liabilities 2022: $590,134Net Assets 2022: $6,229,9102022Assets 2023: $16,084,125Liabilities 2023: $358,333Net Assets 2023: $15,725,7922023Assets 2024: $35,394,219Liabilities 2024: $15,229,338Net Assets 2024: $20,164,8812024

Highlighted filing

2018

Assets$1,301,351
Liabilities$12,415
Net Assets$1,288,936
Open 2018 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2017: $102,143Expenses 2017: $67,318Net Income 2017: $34,8252017Revenue 2018: $1,344,220Expenses 2018: $187,103Net Income 2018: $1,157,1172018Revenue 2019: $803,796Expenses 2019: $1,016,112Net Income 2019: -$212,3162019Revenue 2020: $3,472,669Expenses 2020: $1,358,345Net Income 2020: $2,114,3242020Revenue 2021: $4,558,553Expenses 2021: $1,745,427Net Income 2021: $2,813,1262021Revenue 2022: $2,647,034Expenses 2022: $2,390,165Net Income 2022: $256,8692022Revenue 2023: $11,657,616Expenses 2023: $2,236,647Net Income 2023: $9,420,9692023Revenue 2024: $8,682,953Expenses 2024: $4,017,046Net Income 2024: $4,665,9072024

Highlighted filing

2018

Revenue$1,344,220
Expenses$187,103
Net Income$1,157,117
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$1,344,220
Mission and Program Overview

Mission

The mission of the industrial commons is to rebuild a diverse working class based on locally-rooted wealth.

The industrial commons was incorporated on august 21, 2014 as a non-profit corporation whose purpose is to 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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$44,983$1,153,496▲ $1,108,513
Pledges and Grants Receivable$0$134,000▲ $134,000
Accounts Receivable$10,160$12,406▲ $2,246
Prepaid Expenses and Deferred Charges$4,199$1,449▼ $2,750
Total Assets$59,342$1,301,351▲ $1,242,009
Liabilities
Accounts Payable and Accrued Expenses$0$12,415▲ $12,415
Deferred Revenue$747$0▼ $747
Total Liabilities$747$12,415▲ $11,668
Net Assets / Fund Balance
Temporarily Rstr Net Assets$0$1,197,325▲ $1,197,325
Unrestricted Net Assets$58,595$91,611▲ $33,016
Total Net Assets Fund Balance$58,595$1,288,936▲ $1,230,341
Total Liabilities and Net Assets / Fund Balance$59,342$1,301,351▲ $1,242,009
Compensation and Service Providers
Top Officer Pay24th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Molly HemstreetCo-executive DirectorFT$31,384$31,384
Sara ChesterCo-executive DirectorFT$10,500$10,500

Board Members and Trustees

NameTitle
Alan ClarkChairman
Bobby CarswellDirector
Debbie SigmonDirector
Kimberly HunterDirector
Alan WoodSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,263,670
Program Service Revenue
$80,550
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,258,747
Change in Net Assets
$1,157,117
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$132,183
Other Expenses$54,920
Total Fundraising Expense$14,218
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$61,429$15,282$3,129$79,840
Current Officers, Directors, Trustees, and Key Employees$24,623$10,984$6,277$41,884
Conferences and Meetings$14,455$4,052-$18,507
Advertising$8,105$2,247$2,246$12,598
Travel$8,597$2,457$1,228$12,282
Payroll Taxes$7,105$2,470$884$10,459
Office Expenses$3,889$1,611$315$5,815
Fees for Services Accounting-$3,550-$3,550
Insurance$895$312$111$1,318
Occupancy$228$80$28$336
All Other Expenses-$266-$266
Fees for Services Other$248--$248
Total Functional Expenses$129,574$43,311$14,218$187,103
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The organization provides a draft of the 990 to the board of directors for review prior to filing and give three business days for a response before filing.”

Form 990, Part VI, Section B, Line 12C

“Each year the board is required to review for conflicts.”

Form 990, Part VI, Section C, Line 18

“The organization makes it governing documents and financial statements available to the public upon request.”

Form 990, Part VI, Section C, Line 19

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement.”

Filing and Contact Details

Filer

Filer Name
The Industrial Commons
EIN
47-2080338
Phone
8286743141
Address
PO BOX 71, MORGANTON, NC 28680

Signing Officer

Name
Alan Clark
Title
Chairman
Phone
8286743141
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sara Chester
Formed
2014
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
6
Volunteers
5

Preparer

Firm
Wegner Cpas Llp
Address
2921 LANDMARK PL STE 300, MADISON, WI 53713-4236
Preparer
Bruce Mayer CPA
Phone
6082744020
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Gain on acquisition of carolina textile district, llc 10,723.”

Raw XML AppendixShowing 400 of 404 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES A DRAFT OF THE 990 TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING AND GIVE THREE BUSINESS DAYS FOR A RESPONSE BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH YEAR THE BOARD IS REQUIRED TO REVIEW FOR CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GAIN ON ACQUISITION OF CAROLINA TEXTILE DISTRICT, LLC 10,723.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd01
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/WebsiteAddressTxt0THEINDUSTRIALCOMMONS.ORG
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IRS990/WrittenPolicyOrProcedureInd01
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ReturnHeader/ReturnTs02019-11-14T14:45:02-06:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,301,351
Liabilities
$12,415
Net assets
$1,288,936
Revenue
$1,344,220
Expenses
$187,103
Net income
$1,157,117
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$35.4$15.2$20.2$8.68$4.02$4.67
2023Detailed filing. Detailed filing data is available for this year.$16.1$0.36$15.7$11.7$2.24$9.42
2022Detailed filing. Detailed filing data is available for this year.$6.82$0.59$6.23$2.65$2.39$0.26
2021Detailed filing. Detailed filing data is available for this year.$6.06$0.06$6.00$4.56$1.75$2.81
2020Detailed filing. Detailed filing data is available for this year.$3.60$0.41$3.19$3.47$1.36$2.11
2019Detailed filing. Detailed filing data is available for this year.$1.11$0.03$1.08$0.80$1.02$0.21
2018Detailed filing. Detailed filing data is available for this year.$1.30$0.01$1.29$1.34$0.19$1.16
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.10$0.07$0.03