Civic Intelligence

The Tool Library Inc

990 • Fiscal year 2023 • EIN 82-3550585

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 24, 2024

Organization Profilewww.toollibrary.org
2626 Main StreetBuffalo, NY 14214

(716) 510-1745

Siviq Scores

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

Liabilities / Assets

67th percentile

0.00x

Higher debt load relative to assets than 67% of similar nonprofits.

2023 filings • NTEE S20 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

70th percentile

0.01x

Higher debt load relative to revenue than 70% of similar nonprofits.

2023 filings • NTEE S20 • <$500k nonprofits • Source year 2023

Net Margin

73rd percentile

40%

Higher net margin than 73% of similar nonprofits.

2023 filings • NTEE S20 • <$500k nonprofits • Source year 2023

Top Officer Pay

91st percentile

$32,000

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 13.3% of source-year revenue.

2023 filings • NTEE S20 • <$500k nonprofits • Source year 2023

Asset Growth

80th percentile

47%

Faster asset growth than 80% of similar nonprofits.

2023 filings • NTEE S20 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

84th percentile

109%

Faster revenue growth than 84% of similar nonprofits.

2023 filings • NTEE S20 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$406,731

Up $130,746 (+47%) from 2022

Net Assets

Up

$404,748

Up $129,130 (+47%) from 2022

Liabilities

Up

$1,983

Up $1,616 (+440%) from 2022

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin73rd percentile

Revenue

Up

$240,805

Up $125,586 (+109%) from 2022

Expenses

Up

$144,713

Up $57,866 (+67%) from 2022

Net Income

Up

$96,092

Up $67,720 (+239%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$1.0M$500K$0Assets 2020: $118,262Net Assets 2020: $118,2622020Assets 2021: $239,886Liabilities 2021: $100Net Assets 2021: $239,7862021Assets 2022: $275,985Liabilities 2022: $367Net Assets 2022: $275,6182022Assets 2023: $406,731Liabilities 2023: $1,983Net Assets 2023: $404,7482023Assets 2024: $950,258Liabilities 2024: $99,441Net Assets 2024: $850,8172024

Highlighted filing

2023

Assets$406,731
Liabilities$1,983
Net Assets$404,748
Open 2023 Filing

Operations Trend

Revenue Growth84th percentile

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

$800K$600K$400K$200K$0Revenue 2020: $76,033Expenses 2020: $53,646Net Income 2020: $22,3872020Revenue 2021: $181,550Expenses 2021: $70,633Net Income 2021: $110,9172021Revenue 2022: $115,219Expenses 2022: $86,847Net Income 2022: $28,3722022Revenue 2023: $240,805Expenses 2023: $144,713Net Income 2023: $96,0922023Revenue 2024: $762,380Expenses 2024: $316,311Net Income 2024: $446,0692024

Highlighted filing

2023

Revenue$240,805
Expenses$144,713
Net Income$96,092
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 24, 2024
Return Version
2023v4.0
Gross Receipts
$247,788
Mission and Program Overview

Mission

The Tool Library, Inc. promotes borrowing over buying by increasing trust between neighbors and neighborhoods through empowerment by removing economic barriers for individuals and community projects, enhances sustainability by encouraging community involvement to share practical resources and knowledge, reduces waste, and lowers barriers to access.

To provide communities with the tools they need to create the change they want

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$164,715$245,199▲ $80,484
Total Assets$275,985$406,731▲ $130,746
Other Assets Total$111,270$161,532▲ $50,262
Liabilities
Other Liabilities$367$1,983▲ $1,616
Total Liabilities$367$1,983▲ $1,616
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$275,618$404,748▲ $129,130
Total Net Assets Fund Balance$275,618$404,748▲ $129,130
Total Liabilities and Net Assets / Fund Balance$275,985$406,731▲ $130,746

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,500--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Darren CottonExecutive DirectorFT$32,000$32,000

Board Members and Trustees

NameTitle
Dave HarterPresident
Antionette McClainMcClainDirector
Barbara BonoDirector
Cheyenne Ketter-FranklinDirector
Drew CanfieldDirector
Dylan BurnsDirector
Dylan SteedDirector
Eric BorensteinDirector
Jenna CurranDirector
Kamal PatelDirector
Kellyn TorresDirector
Laura AlexanderDirector
Lauren TurnerDirector
Melanie RushforthDirector
Michael McManusDirector
Shannon JohnsonDirector
Rob TownsleySecretarySecretary
Barbara CrossTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$222,472
Program Service Revenue
$10,022
Investment Income
$1,098
Other Revenue
$7,213
All Other Contributions
$136,529
Change in Net Assets
$96,092

Audited Revenue Reconciliation

Revenue per Audited Statements
$206,576
Revenue Not Reported on Financial Statements
$34,229
Revenue Not Reported on Form 990
$15,450
Other Revenue Adjustments
$34,229
Total Revenue per Audited Statements
$222,026
Total Revenue per Form 990
$240,805
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$76,229
Salaries, Compensation, and Employee Benefits$68,484
Total Fundraising Expense$15,720
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$31,018$3,672$4,458$39,148
Current Officers, Directors, Trustees, and Key Employees$26,744$1,856$3,400$32,000
Other Salaries and Wages$30,390--$30,390
Payroll Taxes$4,891$163$380$5,434
Insurance$3,988$596-$4,584
Fees for Services Other$3,526$864-$4,390
Fees for Services Accounting$1,110$345$2,545$4,000
All Other Expenses$3,438$179$135$3,752
Office Expenses$3,549$81-$3,630
Advertising$1,482-$1,451$2,933
Other Expenses$1,707$183$970$1,707
Conferences and Meetings$1,274$220$200$1,694
Other Employee Benefits$594$20$46$660
Total Functional Expenses$120,685$8,308$15,720$144,713

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$156,470
Total Expenses per Form 990$144,713
Expenses per Audited Statements$138,179
Expenses Not Reported on Form 990$18,291
Expenses Not Reported on Financial Statements$6,534
Other Expense Adjustments$6,534
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$11,056
Fundraising Direct Expenses$6,060
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

LiabilityAmount
Gift card liability$1,050
Credit card liability$799
Sales tax payable$134
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, line 8B

“The Organization's governing body does not have any committees with authority to act on behalf of the governing body.”

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

“A copy of the 990 is provided to the organization's board of directors prior to filing for their review and approval.”

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

“Annually, each director must sign a statement that affirms they received a copy of the conflict-of-interest policy, read and understands the policy, and agrees to comply with the policy. Any conflicts that may arise are disclosed during board meetings and resolved according to the conflict-of-interest policy.”

Form 990, Part VI, Section C, line 18

“The Organization's governing documents are available upon request”

Form 990, Part VI, Section C, line 19

“The organization's governing documents, conflict-of-interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Tool Library Inc
EIN
82-3550585
Phone
7165101745
Address
2626 Main Street, Buffalo, NY 14214

Signing Officer

Name
Darren Cotton
Title
Executive Director
Phone
7168570096
Signed
2024-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Darren Cotton
Formed
2018
Legal Domicile
Ny
Voting Board Members
18
Independent Board Members
18
Employees
2
Volunteers
373

Preparer

Firm
Lancaster Accounting & Tax Service
Address
4982 William Street, Lancaster, NY 14086
Preparer
Angela Dussault CPA
Phone
7167170135
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

“The Tool Library, Inc. has no uncertian tax positions under FIN 48”

Part XI, Line 2D - Other Adjustments:

“Contributions recivable Accounts receivable Prior year prepaid memberships Special events expense”

Part XI, Line 4B - Other Adjustments:

“Prior year accounts receivable Deferred revenue from a government contact Prepaid memberships”

Part XII, Line 2D - Other Adjustments:

“Special events expense Prior year prepaid insurance Accounts payable Accrued compensation”

Part XII, Line 4B - Other Adjustments:

“Prepaid expenses Prior year accounts payable Prior year accounts payable”

Part XI Line 2D

“Current year receivables, current year special events expenses, and prior year prepaid expenses”

Part XI Line 4B

“Prior year receivables and current year deferred revenue”

Part XII Line 2D

“Current year accounts payable, accrued compensation, special events expense and prior year prepaid expenses”

Part XII Line 4B

“Current year prepaid expenses, prior year accounts payable, and prior year accounts payable”

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IRS990/Desc01,421 active members borrowed 4,874 tools in 19,478 transactions for 2023. These borrowed tools provided $730,889 in savings to our community and contributed to our charitable purpose of combating neighborhood blight by providing tools, equipment and resources to the community.
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IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt01098
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt01098
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt06
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt047943
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The Tool Library, Inc. promotes borrowing over buying by increasing trust between neighbors and neighborhoods through empowerment by removing economic barriers for individuals and community projects, enhances sustainability by encouraging community involvement to share practical resources and knowledge, reduces waste, and lowers barriers to access.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0275618
IRS990/NetAssetsOrFundBalancesEOYAmt0404748
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt04996
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt04996
IRS990/NetIncomeOrLossGrp/ExclusionAmt02217
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt02217
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0275618
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0404748
IRS990/NoncashContributionsAmt010654
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt04458
IRS990/OccupancyGrp/ManagementAndGeneralAmt03672
IRS990/OccupancyGrp/ProgramServicesAmt031018
IRS990/OccupancyGrp/TotalAmt039148
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt081
IRS990/OfficeExpensesGrp/ProgramServicesAmt03549
IRS990/OfficeExpensesGrp/TotalAmt03630
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0111270
IRS990/OtherAssetsTotalGrp/EOYAmt0161532
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt046
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt020
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0594
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0660
IRS990/OtherExpensesGrp/Desc0Program supplies & expe
IRS990/OtherExpensesGrp/Desc1Bank charges & fees
IRS990/OtherExpensesGrp/Desc2Printing and copying
IRS990/OtherExpensesGrp/Desc3Tool maintenance & repa
IRS990/OtherExpensesGrp/FundraisingAmt02135
IRS990/OtherExpensesGrp/FundraisingAmt1970
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0129
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1183
IRS990/OtherExpensesGrp/ProgramServicesAmt04572
IRS990/OtherExpensesGrp/ProgramServicesAmt11764
IRS990/OtherExpensesGrp/ProgramServicesAmt2638
IRS990/OtherExpensesGrp/ProgramServicesAmt31707
IRS990/OtherExpensesGrp/TotalAmt04572
IRS990/OtherExpensesGrp/TotalAmt14028
IRS990/OtherExpensesGrp/TotalAmt21791
IRS990/OtherExpensesGrp/TotalAmt31707
IRS990/OtherLiabilitiesGrp/BOYAmt0367
IRS990/OtherLiabilitiesGrp/EOYAmt01983
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt030390
IRS990/OtherSalariesAndWagesGrp/TotalAmt030390
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0380
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0163
IRS990/PayrollTaxesGrp/ProgramServicesAmt04891
IRS990/PayrollTaxesGrp/TotalAmt05434
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Darren Cotton
IRS990/PriorPeriodAdjustmentsAmt033038
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532289
IRS990/ProgramServiceRevenueGrp/BusinessCd1532289
IRS990/ProgramServiceRevenueGrp/BusinessCd2532289
IRS990/ProgramServiceRevenueGrp/Desc0Late fees
IRS990/ProgramServiceRevenueGrp/Desc1Supertool rental incom
IRS990/ProgramServiceRevenueGrp/Desc2Dare to Repair
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06556
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11966
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06556
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11966
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21500
IRS990/ProgSrvcAccomActy2Grp/Desc0Service Days - 12 events in 2023 brought together 373 volunteers and a total of 1,122 volunteer hours. As a whole 4,100 bulbs and 57 trees were planted. These community beautification efforts contribute to our efforts of combating neighborhood blight.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt012719
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0Dare to Repair - 11 events in 2023 had 482 participants who were aided by 52 volunteers to work on 379 items which otherwise would have become waste. There were 274 successful fixes and 2,667lbs of waste was diverted from landfills. Hosting repair events supports sustainability efforts.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt06212
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01500
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt077919
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt066879
IRS990/PYOtherRevenueAmt031723
IRS990/PYProgramServiceRevenueAmt05577
IRS990/PYRevenuesLessExpensesAmt028372
IRS990/PYSalariesCompEmpBnftPaidAmt019968
IRS990/PYTotalExpensesAmt086847
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0115219
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt096092
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt09620
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0222472
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt078579
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0147105
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt061732
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt022759
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0532647
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01098
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01098
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt017662
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt06034
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt020277
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02072
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03350
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt049395
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01098
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01098
IRS990ScheduleA/InvestmentIncomeCYPct00.00180
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt06556
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt04527
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt030
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01119
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt03761
IRS990ScheduleA/OtherIncome509Grp/TotalAmt015993
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97150
IRS990ScheduleA/PublicSupportPY509Pct00.95030
IRS990ScheduleA/PublicSupportTotal509Amt0582042
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0240134
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt084613

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$406,731
Liabilities
$1,983
Net assets
$404,748
Revenue
$240,805
Expenses
$144,713
Net income
$96,092
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.50$0.99$8.51$7.62$3.16$4.46
2023Detailed filing. Detailed filing data is available for this year.$4.07$0.02$4.05$2.41$1.45$0.96
2022Detailed filing. Detailed filing data is available for this year.$2.76$0.00$2.76$1.15$0.87$0.28
2021Detailed filing. Detailed filing data is available for this year.$2.40$0.00$2.40$1.82$0.71$1.11
2020Detailed filing. Detailed filing data is available for this year.$1.18$1.18$0.76$0.54$0.22