Nonprofit · EIN 56-1728718
THE SCRAP EXCHANGE INC
Tax-exempt · DURHAM, NC 27707
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,843,401 | $2,922,985 | -$79,584 | $6,915,416 | $8,109,464 | -$1,194,048 |
| December 31, 2023 | 990 | $2,177,205 | $2,277,622 | -$100,417 | $7,064,812 | $8,286,657 | -$1,221,845 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $129,955
- Program service revenue
- $2,634,652
- Investment income
- $74,894
- Other revenue
- $3,900
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $93,600
- Other salaries and wages
- $1,110,832
- Salaries, compensation and benefits (total)
- $1,446,348
- Professional fundraising fees
- $0
- Occupancy
- $571,995
- Travel
- $15,798
- Depreciation
- $264,216
- Program services (functional)
- $2,338,037
- Management and general (functional)
- $570,710
- Fundraising (functional)
- $14,238
Balance sheet and other
- Total assets, start of year
- $7,064,812
- Total assets, end of year
- $6,915,416
- Total liabilities, end of year
- $8,109,464
- Net assets, end of year
- -$1,194,048
- Land, buildings and equipment
- $3,877,578
- Net assets without donor restrictions
- -$1,194,048
- Gross receipts
- $2,843,401
- Employees
- 76
- Volunteers
- 500
- Year formed
- 1991
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| HEATHER A COOK | EXECUTIVE DIRECTOR Officer | 40 | $93,600 |
| MICAH KORDSMEIER | PRESIDENT Trustee or director, Officer | 2 | $0 |
| WHITNEY STANLEY | VICE PRESIDENT Trustee or director, Officer | 2 | $0 |
| TOM DAWSON | SECRETARY Trustee or director, Officer | 2 | $0 |
| ANNA ANEJA | TREASURER Trustee or director, Officer | 2 | $0 |
| STACEY KIRBY | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| HEATHER A COOK | INTERIM EXEC Officer | 40 | $90,000 |
| MICAH KORDSMEIER | PRESIDENT Trustee or director, Officer | 1 | $0 |
| MADELINE BANKSON | VICE PRESIDE Trustee or director, Officer | 1 | $0 |
| TOM DAWSON | SECRETARY Trustee or director, Officer | 1 | $0 |
| ANNA ANEJA | TREASURER Trustee or director, Officer | 1 | $0 |
| JONATHAN FULLER | BOARD MEMBER Trustee or director | 1 | $0 |
| JAMIE BECK | BOARD MEMBER Trustee or director | 1 | $0 |
| STACEY KIRBY | BOARD MEMBER Trustee or director | 1 | $0 |
| WHITNEY STANLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| MARIE CROWELL | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 2050 CHAPEL HILL RD, DURHAM, NC 27707-1110
- Principal officer (990 for 2024)
- HEATHER COOK, 2050 CHAPEL HILL ROAD, DURHAM, NC 27707
- Signed the 990
- ANNA ANEJA, BOARD TREASURER
- Phone
- (919) 200-0151
- Website
- WWW.SCRAPEXCHANGE.ORG
- Return prepared by
- SHARPE PATEL CPA
Mission
TO PROMOTE CREATIVITY, ENVIRONMENTAL AWARENESS, AND COMMUNITY THROUGH REUSE.
Program accomplishments
- RETAIL OPERATIONS AND CREATIVE REUSE CENTER:SCRAP EXCHANGE OPERATES TWO RETAIL STORES IN DURHAM, NC - THE REUSE ARTS SHOP AND THE SCRAP THRIFT STORE - WHICH SELL DONATED INDUSTRIAL DISCARDS AND OTHER PRE- AND POST-CONSUMER MATERIALS. THESE STORES PROVIDE AFFORDABLE ACCESS TO ART SUPPLIES, HARDWARE, TEXTILES, VINTAGE ITEMS, AND MORE, SUPPORTING CREATIVE REUSE AND ENVIRONMENTAL SUSTAINABILITY. IN CALENDAR YEAR 2024, RETAIL OPERATIONS HELPED DIVERT HUNDREDS OF TONS OF USABLE MATERIALS FROM THE WASTE STREAM.Expenses $1,286,279 · revenue $1,451,607
- EVENTS, PARTIES, & CLASSES:EDUCATIONAL WORKSHOPS AND OUTREACH PROGRAMMING:THE ORGANIZATION DELIVERS HANDS-ON CREATIVE ARTS PROGRAMMING THROUGH WORKSHOPS, SCHOOL VISITS, FESTIVALS, AND COMMUNITY EVENTS. THESE PROGRAMS UTILIZE RECLAIMED MATERIALS TO TEACH ENVIRONMENTAL AWARENESS AND FOSTER CREATIVITY AMONG CHILDREN, YOUTH, AND ADULTS. IN 2024, SCRAP EXCHANGE PARTNERED WITH COMMUNITY ORGANIZATIONS AND SERVED INDIVIDUALS THROUGH OUTREACH EVENTS, TRAININGS, AND EDUCATIONAL ACTIVITIES.MAKE N' TAKE ROOM AND ON-SITE PROGRAMMING:THE MAKE N' TAKE ROOM PROVIDES DROP-IN CRAFTING OPPORTUNITIES, BIRTHDAY PARTIES, FIELD TRIPS, AND TEAM-BUILDING EVENTS USING REUSABLE MATERIALS. PARTICIPANTS ENGAGE IN OPEN-ENDED CREATIVE EXPLORATION WITH ACCESS TO A WIDE VARIETY OF SUPPLIES. IN 2024, THE PROGRAM WELCOMED MORE THAN 80 FIELD TRIP GROUPS AND PRIVATE RENTALS, FOSTERING IMAGINATIVE PLAY AND PROMOTING ENVIRONMENTAL STEWARDSHIP.Expenses $128,466 · revenue $144,979
- REUSE ARTS DISTRICT AND PROPERTY STEWARDSHIP:SCRAP EXCHANGE MANAGES APPROXIMATELY 10 ACRES AND 80,000 SQUARE FEET OF COMMERCIAL SPACE IN DURHAM'S LAKEWOOD SHOPPING CENTER AS PART OF ITS REUSE ARTS DISTRICT INITIATIVE. THIS SPACE SUPPORTS ARTISTS, SMALL BUSINESSES, AND COMMUNITY ORGANIZATIONS ALIGNED WITH THE MISSION OF PROMOTING CREATIVITY AND REUSE. THE ORGANIZATION PROVIDES AFFORDABLE RENT, MAINTAINS FACILITIES, AND CONTINUES TO DEVELOP THE DISTRICT AS A HUB FOR CULTURAL AND ENVIRONMENTAL INNOVATION.Expenses $923,292 · revenue $1,041,966
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1728718
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1991
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Environment (C200)
- Assets (IRS master file)
- $6,915,416
- Income (IRS master file)
- $2,843,401
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,843,401 | $2,922,985 | $6,915,416 | IRS |
| 990 | December 2023 | $2,177,205 | $2,277,622 | $7,064,812 | XML |
| 990 | December 2022 | $1,592,667 | $2,004,823 | $7,180,432 | IRS |
| 990 | December 2021 | $2,047,829 | $2,292,014 | $6,770,831 | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1728718).
Questions about THE SCRAP EXCHANGE INC
- What is the EIN of THE SCRAP EXCHANGE INC?
- The employer identification number (EIN) of THE SCRAP EXCHANGE INC is 56-1728718.
- Is THE SCRAP EXCHANGE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1991.
- Are donations to THE SCRAP EXCHANGE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE SCRAP EXCHANGE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE SCRAP EXCHANGE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE SCRAP EXCHANGE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of THE SCRAP EXCHANGE INC?
- The 990 for the year ended December 31, 2024 names HEATHER COOK.
- Who are the officers and directors of THE SCRAP EXCHANGE INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $93,600 (HEATHER A COOK, EXECUTIVE DIRECTOR).
- How much revenue does THE SCRAP EXCHANGE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,843,401, expenses of $2,922,985 and total assets of $6,915,416 at year end.
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