Abstract: A tool rack for storing and fully securing tools within one or more tool mounts on the tool rack. The tool rack has at least one hinged tool mount, a part of which is rotated from a first position where a tool mounted within the hinged tool mount may be removed from the hinged tool mount to a second position where the tool may not be removed from the hinged tool mount. U-shaped clips are attached to or near one or more of the tool mounts to further secure the tools within the mounts. One or more tool mounts on the tool rack have shrouds which cover a substantial area of a tool placed within the shrouded tool mounts. The shrouds and U-shaped clips have bent ends to guide tools into their respective tool mounts. Tool mount placement and arrangement on the tool rack facilitate space-saving tool arrangement on the tool rack, with tool heads being protected not only by tool shrouds, but also by parts of other tools installed within the tool rack.