The Industrial Commons
The mission of the Industrial Commons is to rebuild a diverse working class based on locally-rooted wealth.
The Industrial Commons at a glance
In short: The Industrial Commons gave $866K across 6 grants in 2024 (avg $144K), mostly in North Carolina. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $866,068
- +78633.5% vs 2023
- Grants made (2024)
- 6
- Average grant
- $144,345
- Median grant
- $76,684
- Total assets
- $35,394,219
- +120.1% vs 2023
- Primary geography
- North Carolina (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
How to apply to The Industrial Commons
Open Grants
1 open opportunity from The Industrial Commons
Who The Industrial Commons funds
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
The largest 2024 recipient was North Carolina State University ($338K). Together the top 6 received $866K.
Grant Size Distribution
13 grants across all recorded years
The most common grant size was under $50K: 8 grants of 13 (62%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 6 itemized grants.
States
Cities
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $700 (2021) to $866K (2024). In 2024 it made 6 grants totaling $866K.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| North Carolina State University Raleigh, NC | Grant Subawardee | $337,761 |
| Manufacturing Solutions Center Conover, NC | Grant Subawardee | $327,495 |
| Gaston College Dallas, NC | Grant Subawardee | $89,224 |
| Material Return Morganton, NC | General Support | $64,143 |
| Western Piedmont Community College Morganton, NC | Grant Subawardee | $27,445 |
| The Community Foundation of Western North Carolina Asheville, NC | Scholarship - Hometown Walkabout Tours | $20,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $35,394,219 | $8,682,953 | $4,017,046 | $866,068 | 6 | $461,934 |
| 2023 | $16,084,125 | $11,657,616 | $2,236,647 | $1,100 | Total only | $291,977 |
| 2022 | $6,820,044 | $2,647,034 | $2,390,165 | $250,000 | 1 | $8,791 |
| 2021 | $6,060,975 | $4,558,553 | $1,745,427 | $700 | Total only | $3,436 |
| 2020 | $3,601,215 | $3,472,669 | $1,358,345 | $91,500 | 6 | $5,070 |
| 2019 | $1,107,828 | $803,796 | $1,016,112 | — | — | $6,196 |
"Total only": grants paid as reported on the IRS filing, which lists no individual grants for that year.
About The Industrial Commons
Based on IRS filings
The Industrial Commons is a public charity focused on Community Improvement & Capacity Building, based in Morganton, NC. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $35.4M in total assets. In 2024, it awarded 6 grants totaling $866K. Net investment income was $462K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
The Industrial Commons is led by Molly Hemstreet, Co-Executive Director on every filing since 2019; 2 of 9 officers listed in 2024 are compensated.
Officers on the 2024 filing
Molly Hemstreet
Co-Executive Director
On filings since 2019
40 hrs/week
$74K (2019) → $124K (2024)
Sara Chester
Co-Executive Director
On filings since 2019
40 hrs/week
$33K (2019) → $108K (2024)
Deborah Sigmon
Chairperson
Secretary & Treasurer → Chairperson, 2024
On filings since 2023
1 hr/week
No compensation reported
Sharley Mendoza Perez
Director
Director → Director & Director of Operations, 2022
Director & Director of Operations → Director, 2024
On filings since 2021
1 hr/week
$44K (2021) → $0 (2024)
Lisa Miller
Director & Secretary
Director → Director & Secretary, 2024
On filings since 2023
1 hr/week
No compensation reported
Renea Canipe
Director
On filings since 2023
1 hr/week
No compensation reported
Marcelina Miguel
Director
New on the 2024 filing
1 hr/week
No compensation reported
Kimberly Hunter
Vice Chair
Director → Vice Chair, 2024
On filings since 2019
1 hr/week
No compensation reported
Erica Damman
Secretary & Treasurer
Director → Secretary & Treasurer, 2024
On filings since 2022
1 hr/week
No compensation reported
Former officers (4)
- Former: Alan Clark (2019–2023) — Chairman
- Former: Alan Wood (2019–2023) — Vice Chairman
- Former: Bobby Carswell (2019–2023) — Director, Research & Development Director
- Former: Debbie Sigmon (2019–2022) — Secretary & Treasurer
Data from IRS Form 990 filings, 2019–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $124K, to Molly Hemstreet (Co-Executive Director). 2 officers or directors reported compensation on that filing.
Frequently asked questions about The Industrial Commons
How much does The Industrial Commons give each year?
The Industrial Commons gave $866K across 6 grants in 2024, according to its 2024 IRS Form 990. In 2023 it reported $1K in grants paid.
What is The Industrial Commons's typical grant size?
The Industrial Commons's median grant in 2024 was $76,684, and its average grant was $144,345, across 6 grants on its 2024 IRS Form 990.
Where does The Industrial Commons give grants?
The Industrial Commons gives mostly in North Carolina: 100% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Morganton, NC (2 grants).
Does The Industrial Commons give general operating support?
Yes: 17% of The Industrial Commons's 2024 grants with a stated purpose (1 of 6) were for general or operating support, per its 2024 IRS Form 990. Recurring purposes include "Grant Subawardee" (4 grants).
Who are The Industrial Commons's largest grantees?
The Industrial Commons's largest 2024 grantees include North Carolina State University ($337,761), Manufacturing Solutions Center ($327,495) and Gaston College ($89,224), according to its 2024 IRS Form 990. Together they received 87% of its itemized 2024 grant dollars.
How large is The Industrial Commons?
The Industrial Commons reported $35.4M in total assets on its 2024 IRS Form 990. Its revenue that year was $8.7M.
What is The Industrial Commons?
The Industrial Commons is a public charity focused on Community Improvement & Capacity Building, based in Morganton, NC. It holds $35.4M in total assets as of 2024.
What is The Industrial Commons's EIN?
The Industrial Commons's EIN (Employer Identification Number) is 47-2080338. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS September 13, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS August 8, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 14, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS October 17, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 13, 2025)
- IRS filings on file for fiscal years 2019–2024
Explore Open Grants
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