Nonprofit · EIN 82-3550585
TOOL LIBRARY INC
Tax-exempt · BUFFALO, NY 14214
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $762,380 | $316,311 | $446,069 | $950,258 | $99,441 | $850,817 |
| December 31, 2023 | 990 | $240,805 | $144,713 | $96,092 | $406,731 | $1,983 | $404,748 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $712,451
- of which government grants
- $60,000
- Membership dues
- $74,943
- Program service revenue
- $27,582
- Investment income
- $6,179
- Net income from fundraising events
- $11,419
- Net income from sales of inventory
- $4,459
- Other revenue
- $16,168
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $14,015
- Compensation of officers, directors and key employees
- $57,020
- Other salaries and wages
- $59,296
- Salaries, compensation and benefits (total)
- $145,010
- Professional fundraising fees
- $0
- Legal fees
- $2,838
- Accounting fees
- $10,224
- Occupancy
- $42,148
- Depreciation
- $3,709
- Program services (functional)
- $258,699
- Management and general (functional)
- $29,569
- Fundraising (functional)
- $28,043
Balance sheet and other
- Total assets, start of year
- $406,731
- Total assets, end of year
- $950,258
- Total liabilities, end of year
- $99,441
- Net assets, end of year
- $850,817
- Land, buildings and equipment
- $483,126
- Net assets without donor restrictions
- $813,854
- Net assets with donor restrictions
- $36,963
- Gross receipts
- $771,264
- Employees
- 3
- Volunteers
- 373
- Year formed
- 2018
- State of legal domicile
- NY
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 |
|---|---|---|---|
| Darren Cotton | Executive Director Trustee or director | 40 | $55,385 |
| Eric Borenstein | Director Trustee or director | 1 | $0 |
| Rob Townsley | Director Trustee or director | 5 | $0 |
| Dylan Burns | Director Trustee or director | 1 | $0 |
| Barbara Bono | Director Trustee or director | 1 | $0 |
| Melanie Rushforth | President Trustee or director, Officer | 5 | $0 |
| Kellyn Torres | Vice President Trustee or director, Officer | 5 | $0 |
| Drew Canfield | Director Trustee or director | 1 | $0 |
| Antionette McClain | Director Trustee or director | 1 | $0 |
| Laura Alexander | Director Trustee or director | 1 | $0 |
| Michael McManus | Director Trustee or director | 1 | $0 |
| Shannon Johnson | Treasurer Trustee or director, Officer | 5 | $0 |
| Lauren Turner | Director Trustee or director | 1 | $0 |
| Adam Blair | Director Trustee or director | 1 | $0 |
| Braden Pritchard | Director Trustee or director | 1 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jon Mrowczynski | Director Trustee or director | 1 | $0 |
| Cole Lowman | Director Trustee or director | 1 | $0 |
| Paige Mason | Director Trustee or director | 1 | $0 |
| Becca McGowan | Director Trustee or director | 1 | $0 |
| Tho Dinh | Director Trustee or director | 1 | $0 |
| Zack Glick | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Darren Cotton | Executive Director Trustee or director | 40 | $32,000 |
| Dylan Steed | Director Trustee or director | 1 | $0 |
| Eric Borenstein | Director Trustee or director | 1 | $0 |
| Cheyenne Ketter-Franklin | Director Trustee or director | 1 | $0 |
| Rob Townsley | SecretarySecretary Trustee or director, Officer | 5 | $0 |
| Barbara Cross | Treasurer Trustee or director, Officer | 5 | $0 |
| Jenna Curran | Director Trustee or director | 1 | $0 |
| Dylan Burns | Director Trustee or director | 1 | $0 |
| Barbara Bono | Director Trustee or director | 1 | $0 |
| Dave Harter | President Trustee or director, Officer | 5 | $0 |
| Kamal Patel | Director Trustee or director | 1 | $0 |
| Melanie Rushforth | Director Trustee or director | 1 | $0 |
| Kellyn Torres | Director Trustee or director | 1 | $0 |
| Drew Canfield | Director Trustee or director | 1 | $0 |
| Antionette McClainMcClain | Director Trustee or director | 1 | $0 |
| Laura Alexander | Director Trustee or director | 1 | $0 |
| Michael McManus | Director Trustee or director | 1 | $0 |
| Shannon Johnson | Director Trustee or director | 1 | $0 |
| Lauren Turner | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 2626 MAIN ST, BUFFALO, NY 14214-2016
- Mailing address (990-N for 2019)
- 5 West Northrup, Buffalo NY 14214
- Principal officer (990 for 2024)
- Darren Cotton, 2626 Main Street, Buffalo, NY 14214
- Principal officer (990-N for 2019)
- Darren Cotten, 5 West Northrum Place, Buffalo NY 14214
- Signed the 990
- Darren Cotton, Executive Director
- Phone
- (716) 510-1745
- Website
- www.toollibrary.org
- Return prepared by
- Lancaster Accounting & Tax Service
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.
Program accomplishments
- 1,969 active members borrowed 5,247 tools in 27,162 transactions for 2024. These borrowed tools provided $1,161,107 in savings to our community and contributed to our charitable purpose of combating neighborhood blight by providing tools, equipment and resources to the community.Expenses $200,625 · revenue $25,879
- Service Days - 18 events in 2024 brought together 465 volunteers and a total of 1,590 volunteer hours. As a whole 2,330 bulbs and 26 trees were planted. These community beautification efforts contribute to our efforts of combating neighborhood blight.Expenses $40,096 · revenue $1,652
- Dare to Repair - 13 events in 2024 had 620 participants who were aided by 64 volunteers to work on 529 items which otherwise would have become waste. There were 383 successful fixes and 3,306lbs of waste was diverted from landfills. Hosting repair events supports sustainability efforts.Expenses $17,978 · revenue $6,520
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
- 82-3550585
- 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
- 2018
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $950,258
- Income (IRS master file)
- $771,264
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $762,380 | $316,311 | $950,258 | XML |
| 990 | December 2023 | $240,805 | $144,713 | $406,731 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-N for 2019 Officer: Darren Cotten | December 31, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
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 82-3550585).
Questions about TOOL LIBRARY INC
- What is the EIN of TOOL LIBRARY INC?
- The employer identification number (EIN) of TOOL LIBRARY INC is 82-3550585.
- Is TOOL LIBRARY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to TOOL LIBRARY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TOOL LIBRARY 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 TOOL LIBRARY 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 TOOL LIBRARY 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 TOOL LIBRARY INC?
- The 990 for the year ended December 31, 2024 names Darren Cotton.
- Who are the officers and directors of TOOL LIBRARY INC?
- The 990 for the year ended December 31, 2024 lists 21 people; 1 received compensation from the organization, the highest $55,385 (Darren Cotton, Executive Director).
- How much revenue does TOOL LIBRARY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $762,380, expenses of $316,311 and total assets of $950,258 at year end.
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