The Scrap Exchange Inc

Analysis

The Scrap Exchange Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in July 1991, 35 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Scrap Exchange Inc reported income of $2.2m and spending of $2.3m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.4m to $2.2m (-11%), an average of -2.7% a year. The sharpest change came in the year to December 2023, when income rose by 37%. Over the whole period it spent 110% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, The Scrap Exchange Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include Viridiant ($2.2m), New Space New Mexico ($2.2m) and Plug in America ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.0% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $90k (4.0% of expenses). Other salaries and wages came to $718k. At year end it held assets of $7.1m against liabilities of $8.3m, net assets of -$1.2m. It reported 59 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.