The Industrial Commons

Analysis

The Industrial Commons is a registered charity in United States, based in Morganton, NC. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Industrial Commons reported income of $11.7m and spending of $2.2m, leaving 81% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $804k to $11.7m (+1350%), an average of +95% a year. The sharpest change came in the year to December 2023, when income rose by 340%. Over the whole period it spent 38% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Industrial Commons sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Project Quest Inc ($11.6m), Vermont Associates for Training & Development Inc ($11.7m) and Financial Health Network Inc ($11.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 3.6% of the total. Compensation of current officers, directors and key employees was $304k (14% of expenses). Other salaries and wages came to $967k. At year end it held assets of $16.1m against liabilities of $358k, net assets of $15.7m. It reported 15 employees.