THE INDUSTRIAL COMMONS: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
THE INDUSTRIAL COMMONS (EIN 47-2080338)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-10-17
IRS object ID
202422919349301362
Schema version
2023v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-10-17T16:34:39-05:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN390974031PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1WEGNER CPAS LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12921 LANDMARK PL STE 300AddressLine1Txt
CityMADISONCityNm
State AbbreviationWIStateAbbreviationCd
ZIP537134236ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN472080338EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE INDUSTRIAL COMMONSBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlINDUBusinessNameControlTxt
Phone8284434043PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 71AddressLine1Txt
CityMORGANTONCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28680ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDEBORAH SIGMONPersonNm
Person TitleCHAIRPERSONPersonTitleTxt
Phone8284434043PhoneNum
Signature2024-10-17SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonBRUCE MAYER CPAPreparerPersonNm
PTINP00187180PTIN
Phone6082744020PhoneNum
Preparation2024-10-01PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerSARA CHESTERPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 71AddressLine1Txt
CityMORGANTONCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28680ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$11,735,586GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressTHEINDUSTRIALCOMMONS.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2014FormationYr
Legal Domicile StateNCLegalDomicileStateCd
Activity Or MissionTO CREATE LONG-TERM ECONOMIC AND SOCIETAL BENEFITS IN RURAL WESTERN NORTH CAROLINA AND NEIGHBORING REGIONS BY LESSENING THE BURDENS OF GOVERNMENT AND DEVELOPING PUBLIC ASSETS THAT ENHANCE THE RETENTION AND CREATION OF SMALL TO MID-SIZE MANUFACTURING FIRMS AND MEANINGFUL, GAINFUL EMPLOYMENT; BY PROVIDING ECONOMIC, BUSINESS AND VOCATIONAL EDUCATION SERVICES TO WORKERS AND BUSINESS OWNERS; AND BY SUSTAINABLY ENHANCING THE ECONOMIC WELL-BEING OF ALL MEMBERS OF A COMMUNITY.ActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent5VotingMembersIndependentCnt
Total Employee15TotalEmployeeCnt
Total Volunteers7TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$2,181,163PYContributionsGrantsAmt
CY Contributions Grants$10,971,882CYContributionsGrantsAmt
PY Program Service Revenue$352,996PYProgramServiceRevenueAmt
CY Program Service Revenue$415,646CYProgramServiceRevenueAmt
PY Investment Income$8,791PYInvestmentIncomeAmt
CY Investment Income$291,977CYInvestmentIncomeAmt
PY Other Revenue$104,084PYOtherRevenueAmt
CY Other Revenue-$21,889CYOtherRevenueAmt
PY Total Revenue$2,647,034PYTotalRevenueAmt
CY Total Revenue$11,657,616CYTotalRevenueAmt
PY Grants And Similar Paid$282,725PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$5,280CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,092,188PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$1,404,274CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$252,442CYTotalFundraisingExpenseAmt
PY Other Expenses$1,015,252PYOtherExpensesAmt
CY Other Expenses$827,093CYOtherExpensesAmt
PY Total Expenses$2,390,165PYTotalExpensesAmt
CY Total Expenses$2,236,647CYTotalExpensesAmt
PY Revenues Less Expenses$256,869PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$9,420,969CYRevenuesLessExpensesAmt
Total Assets BOY$6,820,044TotalAssetsBOYAmt
Total Assets EOY$16,084,125TotalAssetsEOYAmt
Total Liabilities BOY$590,134TotalLiabilitiesBOYAmt
Total Liabilities EOY$358,333TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$6,229,910NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$15,725,792NetAssetsOrFundBalancesEOYAmt
MissionTHE MISSION OF THE INDUSTRIAL COMMONS IS TO REBUILD A DIVERSE WORKING CLASS BASED ON LOCALLY-ROOTED WEALTH.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$1,638,349ExpenseAmt
Grant$5,280GrantAmt
Revenue$393,056RevenueAmt
DescTHE INDUSTRIAL COMMONS FOUNDS AND GROWS INTERCONNECTED ENTERPRISES THAT SOLVE INDUSTRIAL PROBLEMS FOR BUSINESSES AND WORKERS, AND MANUFACTURES HOPE FOR THE PEOPLE OF WESTERN NORTH CAROLINA.THE INDUSTRIAL COMMONS FULFILLS THEIR MISSION BY ENHANCING THE RETENTION AND CREATION OF SMALL TO MID-SIZE MANUFACTURING FIRMS AND MEANINGFUL, GAINFUL EMPLOYMENT; BY PROVIDING ECONOMIC, BUSINESS AND VOCATIONAL EDUCATION SERVICES TO WORKERS AND BUSINESS OWNERS; AND BY SUSTAINABLY ENHANCING THE ECONOMIC WELL-BEING OF ALL MEMBERS OF A COMMUNITY.Desc
Total Program Service Expenses$1,638,349TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying ActivitiesYes (1)LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other SecYes (1)ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (1)TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document44IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee15EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member5IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNCStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonNAOMI HUNTPersonNm
Phone8284434043PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1647 HOPEWELL RDAddressLine1Txt
CityMORGANTOWNCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28655ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
ALAN CLARK
CHAIRMAN (THRU NOVEMBER)1.00Yes (X)Yes (X)$0$0$0
ALAN WOOD
VICE CHAIRMAN (THRU NOVEMBER)1.00Yes (X)Yes (X)$0$0$0
DEBORAH SIGMON
SECRETARY/TREASURER1.00Yes (X)Yes (X)$0$0$0
BOBBY CARSWELL
DIRECTOR/RESEARCH & DEVELOPMENT DIRECTOR40.00Yes (X)$58,113$0$5,152
KIMBERLY HUNTER
DIRECTOR1.00Yes (X)$0$0$0
SHARLEY MENDOZA PEREZ
DIRECTOR/DIRECTOR OF OPERATIONS40.00Yes (X)$57,987$0$4,461
ERICA DAMMAN
DIRECTOR1.00Yes (X)$0$0$0
RENEA CANIPE
DIRECTOR1.00Yes (X)$0$0$0
LISA MILLER
DIRECTOR1.00Yes (X)$0$0$0
MOLLY HEMSTREET
CO-EXECUTIVE DIRECTOR40.00Yes (X)$94,222$0$0
SARA CHESTER
CO-EXECUTIVE DIRECTOR40.00Yes (X)$78,770$0$5,257
FieldValueIRS element (for citing)
Total Reportable Comp From Org$289,092TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$14,870TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
Government Grants$497,071GovernmentGrantsAmt
All Other Contributions$10,474,811AllOtherContributionsAmt
Noncash Contributions$14,141NoncashContributionsAmt
Total Contributions$10,971,882TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
FEES FOR SERVICES541618$408,046$408,046
MEMBERSHIP DUES & EVENTS900099$7,600$7,600
FieldValueIRS element (for citing)
Total Program Service Revenue$415,646TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$291,977TotalRevenueColumnAmt
Exclusion$291,977ExclusionAmt
FieldValueIRS element (for citing)
Gross Sales Of Inventory$55,380GrossSalesOfInventoryAmt
Cost Of Goods Sold$77,970CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column-$22,590TotalRevenueColumnAmt
Related Or Exempt Func Income-$22,590RelatedOrExemptFuncIncomeAmt

Miscellaneous Revenue MiscellaneousRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$701TotalRevenueColumnAmt
Exclusion$701ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$701OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$11,657,616TotalRevenueColumnAmt
Related Or Exempt Func Income$393,056RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$292,678ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$1,100TotalAmt
Program Services$1,100ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$4,180TotalAmt
Program Services$4,180ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$303,962TotalAmt
Program Services$166,345ProgramServicesAmt
Management And General$94,093ManagementAndGeneralAmt
Fundraising$43,524FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$966,950TotalAmt
Program Services$725,262ProgramServicesAmt
Management And General$122,837ManagementAndGeneralAmt
Fundraising$118,851FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$60,392TotalAmt
Program Services$42,368ProgramServicesAmt
Management And General$10,308ManagementAndGeneralAmt
Fundraising$7,716FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$72,970TotalAmt
Program Services$51,192ProgramServicesAmt
Management And General$12,455ManagementAndGeneralAmt
Fundraising$9,323FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$36,115TotalAmt
Program Services$10,305ProgramServicesAmt
Management And General$25,810ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$115,769TotalAmt
Program Services$115,694ProgramServicesAmt
Fundraising$75FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$83,964TotalAmt
Program Services$79,172ProgramServicesAmt
Fundraising$4,792FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$64,230TotalAmt
Program Services$63,085ProgramServicesAmt
Management And General$280ManagementAndGeneralAmt
Fundraising$865FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$1,000TotalAmt
Program Services$1,000ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$300,548TotalAmt
Program Services$195,672ProgramServicesAmt
Management And General$59,980ManagementAndGeneralAmt
Fundraising$44,896FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$45,023TotalAmt
Program Services$44,960ProgramServicesAmt
Fundraising$63FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$52,719TotalAmt
Program Services$42,421ProgramServicesAmt
Management And General$690ManagementAndGeneralAmt
Fundraising$9,608FundraisingAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$99,202TotalAmt
Program Services$74,301ProgramServicesAmt
Management And General$14,241ManagementAndGeneralAmt
Fundraising$10,660FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$16,192TotalAmt
Program Services$11,359ProgramServicesAmt
Management And General$2,764ManagementAndGeneralAmt
Fundraising$2,069FundraisingAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescSALES TAXESDesc
Total$480TotalAmt
Management And General$480ManagementAndGeneralAmt

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$11,851TotalAmt
Program Services$9,933ProgramServicesAmt
Management And General$1,918ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$2,236,647TotalAmt
Program Services$1,638,349ProgramServicesAmt
Management And General$345,856ManagementAndGeneralAmt
Fundraising$252,442FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$443,607BOYAmt
EOY$442,616EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$2,254,020BOYAmt
EOY$2,536,698EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
BOY$728,826BOYAmt
EOY$184,965EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$332,782BOYAmt
EOY$59,219EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
BOY$67,000BOYAmt
EOY$54,135EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$272,438BOYAmt
EOY$264,446EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$36,755BOYAmt
EOY$43,367EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$3,836,221LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$215,458LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$2,208,506BOYAmt
EOY$3,620,763EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
EOY$8,264,026EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$25,000EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$476,110BOYAmt
EOY$588,890EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$6,820,044BOYAmt
EOY$16,084,125EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$91,815BOYAmt
EOY$115,913EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$498,319BOYAmt
EOY$242,420EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$590,134BOYAmt
EOY$358,333EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$4,800,977BOYAmt
EOY$6,600,516EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,428,933BOYAmt
EOY$9,125,276EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$6,229,910BOYAmt
EOY$15,725,792EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$6,820,044BOYAmt
EOY$16,084,125EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$9,420,969ReconcilationRevenueExpnssAmt
Donated Services And Use Fclts$74,913DonatedServicesAndUseFcltsAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$673,329CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,715,115CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,038,089CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,181,163CurrentTaxYearMinus1YearAmt
Current Tax Year$10,971,882CurrentTaxYearAmt
Total$20,579,578TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$673,329CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$2,715,115CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,038,089CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2,181,163CurrentTaxYearMinus1YearAmt
Current Tax Year$10,971,882CurrentTaxYearAmt
Total$20,579,578TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$10,779,592SubstantialContributorsTotAmt
Public Support Total170$9,799,986PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$6,196CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$5,070CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$3,436CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$8,791CurrentTaxYearMinus1YearAmt
Current Tax Year$291,977CurrentTaxYearAmt
Total$315,470TotalAmt
FieldValueIRS element (for citing)
Total Support$20,895,048TotalSupportAmt
Gross Receipts Rltd Activities$6,098,159GrossReceiptsRltdActivitiesAmt
Public Support CY1700.46900PublicSupportCY170Pct
Public Support PY1700.61950PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule C IRS990ScheduleC

Total Grassroots Lobbying TotalGrassrootsLobbyingGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Total Direct Lobbying TotalDirectLobbyingGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Total Lobbying Expend TotalLobbyingExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Other Exempt Purpose Expend OtherExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$2,236,647FilingOrganizationsTotalAmt

Total Exempt Purpose Expend TotalExemptPurposeExpendGrp

FieldValueIRS element (for citing)
Filing Organizations Total$2,236,647FilingOrganizationsTotalAmt

Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Filing Organizations Total$261,832FilingOrganizationsTotalAmt

Grassroots Nontaxable GrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Filing Organizations Total$65,458FilingOrganizationsTotalAmt

Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp

FieldValueIRS element (for citing)
Filing Organizations Total$0FilingOrganizationsTotalAmt

Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp

FieldValueIRS element (for citing)
Current Year Minus1$269,508CurrentYearMinus1Amt
Current Year$261,832CurrentYearAmt
Total$531,340TotalAmt
FieldValueIRS element (for citing)
Lobbying Ceiling$797,010LobbyingCeilingAmt

Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp

FieldValueIRS element (for citing)
Current Year Minus1$67,377CurrentYearMinus1Amt
Current Year$65,458CurrentYearAmt
Total$132,835TotalAmt
FieldValueIRS element (for citing)
Grassroots Ceiling$199,253GrassrootsCeilingAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,013,174OtherCostOrOtherBasisAmt
Book Value$1,013,174BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,079,812OtherCostOrOtherBasisAmt
Depreciation$215,458DepreciationAmt
Book Value$864,354BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,743,235OtherCostOrOtherBasisAmt
Book Value$1,743,235BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$3,620,763TotalBookValueLandBuildingsAmt

Other Securities OtherSecuritiesGrp

FieldValueIRS element (for citing)
DescMONEY MARKET FUNDSDesc
Book Value$8,264,026BookValueAmt
Method ValuationFMethodValuationCd
FieldValueIRS element (for citing)
Total Book Value Securities$8,264,026TotalBookValueSecuritiesAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescOPERATING LEASE RIGHT OF USE LIABILITIESDesc
Amt$242,420Amt
FieldValueIRS element (for citing)
Total Liability$242,420TotalLiabilityAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE ORGANIZATION PROVIDES A DRAFT OF THE 990 TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING AND GIVE THREE BUSINESS DAYS FOR A RESPONSE BEFORE FILING.
FORM 990, PART VI, SECTION B, LINE 12CEACH YEAR THE BOARD IS REQUIRED TO REVIEW FOR CONFLICTS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT.
FORM 990, PART VI, SECTION B, LINE 15ATHE INDEPENDENT MEMBERSHIP OF THE BOARD OF DIRECTORS ANNUALLY CONDUCTS A PERFORMANCE REVIEW OF THE CO-EXECUTIVE DIRECTORS. THE CO-EXECUTIVE DIRECTORS COMPENSATIONS ARE REVIEWED AND COMPARED TO PUBLIC INFORMATION ABOUT COMPENSATION IN POSITIONS AT SIMILAR ORGANIZATIONS. THE BOARD APPROVES COMPENSATION FOR THE CO-EXECUTIVE DIRECTORS WITH AN OFFICIAL VOTE WITH DISCUSSION AND RESULTS RECORDED IN MEETING MINUTES.
FORM 990, PART VI, SECTION C, LINE 19THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdTotal IncomeTotalIncomeAmtEnd Of Year AssetsEndOfYearAssetsAmtBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Txt
CAROLINA TEXTILE DISTRICT LLC
PO BOX 71MORGANTONNC28680463031029VALUES-ALIGNED TEXTILE MANUFACTURERNC$95,310$679,722THE INDUSTRIAL COMMONS
CAPITAL FOR THE COMMONS LLC
PO BOX 71MORGANTONNC28680852785731LOAN FUND FOR STARTUP BUSINESSNC$4,492$394,873THE INDUSTRIAL COMMONS

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp

Related Organization Name RelatedOrganizationName

FieldValueIRS element (for citing)
Business Name Line1THE INDUSTRIAL COMMONS CORPSBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 71AddressLine1Txt
CityMORGANTONCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28680ZIPCd
FieldValueIRS element (for citing)
EIN883050851EIN
Primary ActivitiesHOLDING COMPANYPrimaryActivitiesTxt
Legal Domicile StateDELegalDomicileStateCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1THE INDUSTRIAL COMMONSBusinessNameLine1Txt
FieldValueIRS element (for citing)
Entity TypeCEntityTypeTxt
Share Of Total Income$508,705ShareOfTotalIncomeAmt
Share Of EOY Assets$348,041ShareOfEOYAssetsAmt
Ownership1.00000OwnershipPct
Controlled OrganizationYes (1)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgYes (1)GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset ExchangeYes (1)AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgYes (1)ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (3 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
THE INDUSTRIAL COMMONS CORPS
Q$365,803BOOK VALUE
THE INDUSTRIAL COMMONS CORPS
B$246,723BOOK VALUE
THE INDUSTRIAL COMMONS CORPS
I$170,177BOOK VALUE

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