Scrap Exchange Inc

Nonprofit profile at a glance

EIN
561728718
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Durham, NC, USA
Phone
9192000151
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Pollution Abatement and Control Services

Official website

Reported finances

Revenue
$2,843,401
Expenses
$2,922,985
Assets
$6,915,416
Liabilities
$8,109,464

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MICAH KORDSMEIER (PRESIDENT)
  • WHITNEY STANLEY (VICE PRESIDENT)
  • HEATHER A COOK (EXECUTIVE DIRECTOR)

Highest reported compensation

  • HEATHER A COOK (EXECUTIVE DIRECTOR): $93,600 total reported compensation

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

Overview

Mission

To promote creativity, environmental awareness, and community through reuse.

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
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

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

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.1%; rating input score 80
  • Program expense ratio: 80%; rating input score 80
  • Fundraising efficiency: $9.13 raised per $1 spent on fundraising; rating input score 35; 35th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.8%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 2.37; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 1.17; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 12.4% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 80.1% of revenue deployed · 80% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.3M in reported program spending
  • Leadership: top reported pay $94K · 6 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Fundraising efficiency scored 35/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.