Richmond Community Toolbank

Nonprofit profile at a glance

EIN
462383695
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2018
Location
Richmond, VA, USA
Phone
8042190606
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$635,837
Expenses
$495,565
Assets
$949,371
Liabilities
$344,536

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • AMANDA GALVIN (PRESIDENT)

Highest reported compensation

  • TOBY VERNON (EXECUTIVE DI): $89,915 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Richmond community toolbank provides tools to enhance the charitable sector's capacity to serve, facilitating hands-on volunteerism in the greater richmond area.

What it reported doing in 2024

Since 2015 richmond toolbank has loaned more than 7.5mm in tools & equipment to 500 organizations equipping 115,000 volunteers on 20,000 projects. Through our tools for change tool lending program, we have saved the nonprofit sector in central Virginia over 7mm. These savings are plowed back into the services and programs our nonprofit members offer, which enables them to do more with limited resources available, year after year. Toolbank's building change program fills a growing need for outdoor furniture and placemaking infrastructure by leveraging the use of our extensive tool inventory and the power of volunteers. We provide an open request form to any community organization that experiences a need, and we fulfill those needs continually. Since 2016 we've built over 3,200 outdoor furniture items that have been donated to over 200 parks, community centers, schools, and public spaces. Richmond toolbank's toolbox program offers hands-on homecare & diy workshops to individuals to help build skills, gain confidence, and have more fun caring for their homes. All tools, materials, and workshop supplies are provided. It has hosted over 67 workshops since launching in jan 2024, with over 505 participants. Workshops covered 14 home care topics, from basic maintenance to advanced home imrprovement. This has led to over 132 hours of immersive learning focused on skill training and building confidence.

Operating model

Revenue model
Donor-supported. 67% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.5%; rating input score 66
  • Program expense ratio: 84.1%; rating input score 84
  • Fundraising efficiency: $13.87 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 22.1%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 1.92; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 18.1%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 14.1% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 14.6% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 9.1% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 65.5% of revenue deployed · 84.1% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $417K in reported program spending
  • Leadership: top reported pay $90K · 13 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.