Liabilities / Assets
96th percentile
Higher debt load relative to assets than 96% of similar nonprofits.
The Scrap Exchange Inc.
990 • Fiscal year 2023 • EIN 56-1728718
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.17x
Liabilities / Revenue
94th percentile
Higher debt load relative to revenue than 94% of similar nonprofits.
Net Margin
28th percentile
Higher net margin than 28% of similar nonprofits.
Top Officer Pay
34th percentile
Higher top officer pay than 34% of similar nonprofits.
Top officer pay equals 4.1% of source-year revenue.
Asset Growth
27th percentile
Faster asset growth than 27% of similar nonprofits.
Revenue Growth
81st percentile
Faster revenue growth than 81% of similar nonprofits.
Balance Sheet
Assets
Down$7,064,812
Down $115,620 (-1.6%) from 2022
Net Assets
Down-$1,221,845
Down $113,857 (-10%) from 2022
Liabilities
Down$8,286,657
Down $1,763 (-0.0%) from 2022
Revenue And Expenses
Revenue
Up$2,177,205
Up $584,538 (+37%) from 2022
Expenses
Up$2,277,622
Up $272,799 (+14%) from 2022
Net Income
Up-$100,417
Up $311,739 (+76%) from 2022
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2023 to Dec 31, 2023
- Signed
- Nov 15, 2024
- Return Version
- 2023v5.0
- Gross Receipts
- $2,177,205
Mission and Program Overview
Mission
To promote creativity, environmental awareness, and community through reuse.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $4,349,110 | $4,188,437 | ▼ $160,673 |
| Cash and Non-Interest-Bearing Accounts | $2,100,603 | $1,242,760 | ▼ $857,843 |
| Savings and Temporary Cash Investments | $332,889 | $1,020,358 | ▲ $687,469 |
| Prepaid Expenses and Deferred Charges | $244,637 | $295,584 | ▲ $50,947 |
| Accounts Receivable | $67,828 | $217,339 | ▲ $149,511 |
| Intangible Assets | - | $2,054 | - |
| Total Assets | $7,180,432 | $7,064,812 | ▼ $115,620 |
| Other Assets Total | $85,365 | $98,280 | ▲ $12,915 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $6,148,733 | $7,333,583 | ▲ $1,184,850 |
| Deferred Revenue | - | $660,000 | - |
| Other Liabilities | $2,122,833 | $161,125 | ▼ $1,961,708 |
| Accounts Payable and Accrued Expenses | $16,854 | $131,949 | ▲ $115,095 |
| Total Liabilities | $8,288,420 | $8,286,657 | ▼ $1,763 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $-1,107,988 | $-1,221,845 | ▼ $113,857 |
| Total Net Assets Fund Balance | $-1,107,988 | $-1,221,845 | ▼ $113,857 |
| Total Liabilities and Net Assets / Fund Balance | $7,180,432 | $7,064,812 | ▼ $115,620 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $2,246,149 | $1,611,342 | $3,857,491 |
| Land | $1,338,200 | - | $1,338,200 |
| Leasehold Improvements | $392,409 | $270,339 | $662,748 |
| Other Land Buildings | $182,757 | $42,780 | $225,537 |
| Equipment | $28,922 | $36,634 | $65,556 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Heather a Cook | Interim Exec | FT | $90,000 | $90,000 |
Board Members and Trustees
| Name | Title |
|---|---|
| Micah Kordsmeier | President |
| Jamie Beck | Board Member |
| Jonathan Fuller | Board Member |
| Marie Crowell | Board Member |
| Stacey Kirby | Board Member |
| Whitney Stanley | Board Member |
| Tom Dawson | Secretary |
| Anna Aneja | Treasurer |
| Madeline Bankson | Vice Preside |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $44,036
- Program Service Revenue
- $2,115,760
- Investment Income
- $4,975
- Other Revenue
- $12,434
- All Other Contributions
- $44,036
- Change in Net Assets
- $-100,417
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $1,358,390 |
| Salaries, Compensation, and Employee Benefits | $919,232 |
| Total Fundraising Expense | $9,878 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $538,821 | $172,663 | $6,944 | $718,428 |
| Occupancy | $277,518 | $147,769 | - | $425,287 |
| Depreciation Depletion | $272,455 | $7,791 | $326 | $280,572 |
| Interest | $235,859 | $15,185 | $85 | $251,129 |
| Current Officers, Directors, Trustees, and Key Employees | $67,500 | $21,600 | $900 | $90,000 |
| Fees for Services Other | $45,990 | $23,873 | $180 | $70,043 |
| Payroll Taxes | $49,669 | $15,894 | $662 | $66,225 |
| Insurance | - | $45,733 | - | $45,733 |
| Other Employee Benefits | $33,434 | $10,699 | $446 | $44,579 |
| Other Expenses | $27,885 | $34,178 | - | $27,885 |
| All Other Expenses | $812 | $15,423 | - | $16,235 |
| Office Expenses | $10,050 | $5,140 | $335 | $15,525 |
| Travel | $9,454 | - | - | $9,454 |
| Advertising | $7,101 | - | - | $7,101 |
| Total Functional Expenses | $1,751,796 | $515,948 | $9,878 | $2,277,622 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Tenant Security Deposits | $91,529 |
| Debt Issuance Costs | $55,998 |
| Credit Card Liabilities | $8,345 |
| Sales Tax Payable | $5,253 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- 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
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 11B
“Preliminary information for completing the form 990 is provided by the finance manager to the accountant. The completed 990 is reviewed by the executive director prior to filing. The 990 will be provided to the finance committee (chaired by the board treasureer) at the next committee meeting and will be delived electronically to all board members.”
Form 990, Page 6, Part VI, Line 12C
“Board members review the conflict of interest policy annually, sign and disclose any potential conflicts of interest. Board members are encouraged to raise questions about potential conflicts of interest of their own or of other board members whenever a situation arises or a decision is made that could be perceived by anyone within or outside the organization as a potential conflict of interest. When such situations arise, a vote is held on the issue, and if a quorum of board members agree that a conflict of interest would occur as a result of a particular action, the member or members involved in the action must either (a) take action to resolve the conflict, (b) recuse themselves from any decisions in which the conflict of interest would arise, or (c) step down from the scrap exchange, inc. Board.”
Form 990, Page 6, Part VI, Line 15A
“Pay rates for all employees, including the executive director, are determined through comparisons to organizations of similar size and budget and/or with comparable missions and purposes in the same geographic area.”
Form 990, Page 6, Part VI, Line 15B
“Salaries for all employees, including the executive director, are determined through comparisons to organizations of similar size and budget and/or with comparable missions and purposes in the same geographic area.”
Form 990, Page 6, Part VI, Line 19
“All governing documents and financial statements are available upon request (by phone, email, or in person) at the organization's main office. Form 990 is available through guidestar.”
Filing and Contact Details
Filer
- Filer Name
- Scrap Exchange Inc
- EIN
- 56-1728718
- Phone
- 9192000151
- Address
- 2050 CHAPEL HILL ROAD, DURHAM, NC 27707
Signing Officer
- Name
- Rebecca a Currie
- Title
- Acting Finance Direc
- Phone
- 9196886960
- Signed
- 2024-11-15
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Micah Kordsmeier
- Formed
- 1991
- Legal Domicile
- Nc
- Voting Board Members
- 9
- Independent Board Members
- 9
- Employees
- 59
- Volunteers
- 220
Preparer
- Firm
- Sharpe Patel CPA
- Address
- 325 ARLINGTON AVE STE 630, CHARLOTTE, NC 28203
- Preparer
- Rebecca Fisher CPA
- Phone
- 7044993893
Supplemental Narrative
Additional Explanations
Form 990, Page 2, Part III, Line 4D
“Reuse arts district: property and asset management of 10 acres and 80,000 sf commercial space for various tenants in connection with scrap exchange mission of art and reuse. Consideration of development of the property in manner to continue support for rad, the scrap exchange and lakewood/durham is ongoing.”
Form 990, Part XI, Line 9
“Book / tax depreciation difference -9,913”
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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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| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 277518 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 425287 |
| IRS990/OfficeExpensesGrp/FundraisingAmt | 0 | 335 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 5140 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 10050 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 15525 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 85365 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 98280 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -9913 |
| IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt | 0 | 446 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 10699 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 33434 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 44579 |
| IRS990/OtherExpensesGrp/Desc | 0 | REPAIRS |
| IRS990/OtherExpensesGrp/Desc | 1 | PROPERTY MANAGEMENT |
| IRS990/OtherExpensesGrp/Desc | 2 | BANK CHARGES |
| IRS990/OtherExpensesGrp/Desc | 3 | PROJECT MANAGEMENT |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 34178 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 127067 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 48181 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 27885 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 127067 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 48181 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 34178 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 27885 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2122833 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 161125 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISC INCOME |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 12434 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 12434 |
| IRS990/OtherRevenueTotalAmt | 0 | 12434 |
| IRS990/OtherSalariesAndWagesGrp/FundraisingAmt | 0 | 6944 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 172663 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 538821 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 718428 |
| IRS990/OtherWebsiteInd | 0 | X |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/FundraisingAmt | 0 | 662 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 15894 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 49669 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 66225 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 244637 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 295584 |
| IRS990/PrincipalOfficerNm | 0 | MICAH KORDSMEIER |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | -3527 |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 531120 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 453310 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 453310 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 3 | 611600 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 4 | 531310 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | RAD RENTAL INCOME |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | THRIFT STORE SALES |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | REUSE ARTS SHOP SALES |
| IRS990/ProgramServiceRevenueGrp/Desc | 3 | CREATIVE ARTS SERVICES |
| IRS990/ProgramServiceRevenueGrp/Desc | 4 | OTHER SALES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 989429 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 605489 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 462274 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 3 | 51191 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 4 | 7377 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 989429 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 605489 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 462274 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 51191 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 4 | 7377 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | EVENTS, PARTIES, AND CLASSES SHOWING CHILDREN AND ADULTS CREATIVE WAYS OF USING INDUSTRIAL DISCARDS. |
| IRS990/ProgSrvcAccomActy2Grp/RevenueAmt | 0 | 51190 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | WORKSHOPS SHOWING TEACHERS AND STUDENTS HOW TO CREATE TEACHING AIDS AND ARTS USING INDUSTRIAL DISCARDS. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | REUSE ARTS DISTRICT: PROPERTY AND ASSET MANAGEMENT OF 10 ACRES AND 80,000 SF COMMERCIAL SPACE FOR VARIOUS TENANTS IN CONNECTION WITH SCRAP EXCHANGE MISSION OF ART AND REUSE. CONSIDERATION OF DEVELOPMENT OF THE PROPERTY IN MANNER TO CONTINUE SUPPORT FOR RAD, THE SCRAP EXCHANGE AND LAKEWOOD/DURHAM IS ONGOING. |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 0 | 643122 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 0 | 989429 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 41465 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYInvestmentIncomeAmt | 0 | 365 |
| IRS990/PYOtherExpensesAmt | 0 | 1235120 |
| IRS990/PYOtherRevenueAmt | 0 | 3509 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 1547328 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -412156 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 769703 |
| IRS990/PYTotalExpensesAmt | 0 | 2004823 |
| IRS990/PYTotalRevenueAmt | 0 | 1592667 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -100417 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 1075140 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 332889 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 1020358 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt | 0 | 44036 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 41465 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 313417 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 374537 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 104487 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 877942 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 4975 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 365 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 2909 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 3701 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 16160 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 28110 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt | 0 | 2128194 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 1550837 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 1731503 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 1629356 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 836638 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 7876528 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt | 0 | 1476285 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt | 0 | 1476285 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 4975 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt | 0 | 365 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt | 0 | 2909 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt | 0 | 3701 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt | 0 | 16160 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 28110 |
| IRS990ScheduleA/InvestmentIncomeCYPct | 0 | 0.00000 |
| IRS990ScheduleA/InvestmentIncomePYPct | 0 | 0.01000 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY509Pct | 0 | 0.99730 |
| IRS990ScheduleA/PublicSupportPY509Pct | 0 | 0.99570 |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 10230755 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind | 0 | X |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 2172230 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 1592302 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 2044920 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 2003893 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 2417410 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 10230755 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 2177205 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 1592667 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 2047829 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt | 0 | 2007594 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 2433570 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 10258865 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 2246149 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 1611342 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 3857491 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 28922 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 36634 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 65556 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 1338200 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 1338200 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 392409 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 270339 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 662748 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 182757 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 42780 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 225537 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 91529 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 55998 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 2 | 8345 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 3 | 5253 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | TENANT SECURITY DEPOSITS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | DEBT ISSUANCE COSTS |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 2 | CREDIT CARD LIABILITIES |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 3 | SALES TAX PAYABLE |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 4188437 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 161125 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | REUSE ARTS DISTRICT: PROPERTY AND ASSET MANAGEMENT OF 10 ACRES AND 80,000 SF COMMERCIAL SPACE FOR VARIOUS TENANTS IN CONNECTION WITH SCRAP EXCHANGE MISSION OF ART AND REUSE. CONSIDERATION OF DEVELOPMENT OF THE PROPERTY IN MANNER TO CONTINUE SUPPORT FOR RAD, THE SCRAP EXCHANGE AND LAKEWOOD/DURHAM IS ONGOING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | PRELIMINARY INFORMATION FOR COMPLETING THE FORM 990 IS PROVIDED BY THE FINANCE MANAGER TO THE ACCOUNTANT. THE COMPLETED 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO FILING. THE 990 WILL BE PROVIDED TO THE FINANCE COMMITTEE (CHAIRED BY THE BOARD TREASUREER) AT THE NEXT COMMITTEE MEETING AND WILL BE DELIVED ELECTRONICALLY TO ALL BOARD MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | BOARD MEMBERS REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY, SIGN AND DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. BOARD MEMBERS ARE ENCOURAGED TO RAISE QUESTIONS ABOUT POTENTIAL CONFLICTS OF INTEREST OF THEIR OWN OR OF OTHER BOARD MEMBERS WHENEVER A SITUATION ARISES OR A DECISION IS MADE THAT COULD BE PERCEIVED BY ANYONE WITHIN OR OUTSIDE THE ORGANIZATION AS A POTENTIAL CONFLICT OF INTEREST. WHEN SUCH SITUATIONS ARISE, A VOTE IS HELD ON THE ISSUE, AND IF A QUORUM OF BOARD MEMBERS AGREE THAT A CONFLICT OF INTEREST WOULD OCCUR AS A RESULT OF A PARTICULAR ACTION, THE MEMBER OR MEMBERS INVOLVED IN THE ACTION MUST EITHER (A) TAKE ACTION TO RESOLVE THE CONFLICT, (B) RECUSE THEMSELVES FROM ANY DECISIONS IN WHICH THE CONFLICT OF INTEREST WOULD ARISE, OR (C) STEP DOWN FROM THE SCRAP EXCHANGE, INC. BOARD. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | PAY RATES FOR ALL EMPLOYEES, INCLUDING THE EXECUTIVE DIRECTOR, ARE DETERMINED THROUGH COMPARISONS TO ORGANIZATIONS OF SIMILAR SIZE AND BUDGET AND/OR WITH COMPARABLE MISSIONS AND PURPOSES IN THE SAME GEOGRAPHIC AREA. |
Document Assets
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Filings
Displayed year
2023 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $7,064,812
- Liabilities
- $8,286,657
- Net assets
- -$1,221,845
- Revenue
- $2,177,205
- Expenses
- $2,277,622
- Net income
- -$100,417