Civic Intelligence

Spaces

990 • Fiscal year 2021 • EIN 34-1244922

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 07, 2022

2900 Detroit AveCleveland, OH 44113-2710

(216) 621-2314

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.09x

Higher debt load relative to assets than 53% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.45x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

10th percentile

-21%

Higher net margin than 10% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

11th percentile

-6.3%

Faster asset growth than 11% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

8th percentile

-33%

Faster revenue growth than 8% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$2,479,985

Down $167,016 (-6.3%) from 2020

Net Assets

Down

$2,264,807

Down $98,847 (-4.2%) from 2020

Liabilities

Down

$215,178

Down $68,169 (-24%) from 2020

Revenue

Down

$477,335

Down $239,027 (-33%) from 2020

Expenses

Down

$576,182

Down $59,714 (-9.4%) from 2020

Net Income

Down

-$98,847

Down $179,313 (-223%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2020: $2,647,001Liabilities 2020: $283,347Net Assets 2020: $2,363,6542020Assets 2021: $2,479,985Liabilities 2021: $215,178Net Assets 2021: $2,264,8072021Assets 2022: $2,423,709Liabilities 2022: $203,529Net Assets 2022: $2,220,1802022Assets 2023: $2,778,010Liabilities 2023: $187,083Net Assets 2023: $2,590,9272023Assets 2024: $2,100,382Liabilities 2024: $212,246Net Assets 2024: $1,888,1362024

Highlighted filing

2021

Assets$2,479,985
Liabilities$215,178
Net Assets$2,264,807

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $716,362Expenses 2020: $635,896Net Income 2020: $80,4662020Revenue 2021: $477,335Expenses 2021: $576,182Net Income 2021: -$98,8472021Revenue 2022: $694,176Expenses 2022: $726,519Net Income 2022: -$32,3432022Revenue 2023: $2,070,217Expenses 2023: $1,710,760Net Income 2023: $359,4572023Revenue 2024: $85,801Expenses 2024: $667,168Net Income 2024: -$581,3672024

Highlighted filing

2021

Revenue$477,335
Expenses$576,182
Net Income-$98,847
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 7, 2022
Return Version
2021v4.0
Gross Receipts
$493,299
Mission and Program Overview

Mission

Spaces is for the advancement of public interest and participation in the visual performing and fine arts by providing a resource and public forum for artists to explore and experiment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,897,813$1,831,957▼ $65,856
Pledges and Grants Receivable$386,195$308,973▼ $77,222
Savings and Temporary Cash Investments$167,997$150,094▼ $17,903
Cash and Non-Interest-Bearing Accounts$130,763$105,234▼ $25,529
Investments Other Securities$59,933$80,687▲ $20,754
Accounts Receivable$4,300$3,040▼ $1,260
Total Assets$2,647,001$2,479,985▼ $167,016
Liabilities
Unsecured Notes Loans Payable$220,551$198,350▼ $22,201
Other Liabilities$48,500--
Accounts Payable and Accrued Expenses$14,296$16,828▲ $2,532
Total Liabilities$283,347$215,178▼ $68,169
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,932,568$1,996,842▲ $64,274
Net Assets With Donor Restrictions$431,086$267,965▼ $163,121
Total Net Assets Fund Balance$2,363,654$2,264,807▼ $98,847
Total Liabilities and Net Assets / Fund Balance$2,647,001$2,479,985▼ $167,016

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,742,180$256,575$1,998,755
Equipment$22,777$61,151$83,928
Land$51,800-$51,800
Other Land Buildings$15,200$28,995$44,195

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$59,933$11,487▲ $9,984-$80,687
2020$53,128-▲ $7,416-$59,933
2019$44,218-▲ $9,396-$53,128
2018$48,021$100▼ $3,558-$44,218
2017$27,324$15,367▲ $5,619-$48,021
Compensation and Service Providers

Board Members and Trustees

NameTitle
Angelica PozoBoard Member
Bill GaglianoBoard Member
Dolores GarciaBoard Member
Gulnar FeerastaBoard Member
Maribel PumarejoBoard Member
Qian LiBoard Member
Sam HubishBoard Member
Steven CenculaBoard Member
Kristin M RogersBoard Presid
Thomas StarinskyBoard Secret
David TarditiBoard Treasu
Key Jo LeeVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$438,459
Program Service Revenue
$1,610
Investment Income
$10,065
Other Revenue
$27,201
All Other Contributions
$271,490
Change in Net Assets
$-98,847

Audited Revenue Reconciliation

Revenue per Audited Statements
$477,335
Total Revenue per Audited Statements
$477,335
Total Revenue per Form 990
$477,335
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$251,262
Other Expenses$229,302
Grants and Similar Amounts Paid$95,618
Total Fundraising Expense$81,303
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$82,672$38,471$40,525$161,668
Grants to Domestic Individuals$95,618--$95,618
Depreciation Depletion$54,571$6,069$7,657$68,297
Current Officers, Directors, Trustees, and Key Employees$19,128$22,315$22,315$63,758
Occupancy$17,834$1,574$1,573$20,981
Payroll Taxes$8,372$5,039$5,174$18,585
Fees for Services Accounting-$17,282-$17,282
Fees for Services Other-$15,410-$15,410
Interest$7,587$669$669$8,925
Insurance$4,802$1,703$424$6,929
Other Employee Benefits$3,049$2,108$1,617$6,774
Office Expenses$158$6,098-$6,256
Other Expenses$2,477$1,486$991$4,954
All Other Expenses$269$512-$781
Pension Plan Contributions-$119$358$477
Total Functional Expenses$369,842$125,037$81,303$576,182

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$576,182
Total Expenses per Audited Statements$576,182
Total Expenses per Form 990$576,182
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$31,241
Fundraising Direct Expenses$15,964
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Benefits 2021$31,241$31,241$15,964$15,277
Total Events$31,241$31,241$15,964$15,277
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 was reviewed by the executive director, board president, finance committee, board of directors, and accountant.

Form 990, Page 6, Part VI, Line 15A

The executive directors compensation is subject to review and is documented by the board of trustees. Salaries for executive directors of other comparable organizations were reviewed with a third-party executive search/consulting firm in setting the salary level of the executive director.

Form 990, Page 6, Part VI, Line 19

Annual audited financial statements and/or form 990 are available upon request at the offices of spaces, inc.

Filing and Contact Details

Filer

Filer Name
Spaces
EIN
34-1244922
Phone
2166212314
Address
2900 DETROIT AVE, CLEVELAND, OH 44113-2710

Signing Officer

Name
Tizziana Baldenebro
Title
Executive Director
Phone
2166212314
Signed
2022-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kristin M Rogers
Formed
1978
Legal Domicile
Oh
Voting Board Members
12
Independent Board Members
12
Employees
12
Volunteers
23

Preparer

Firm
Samuel Kellogg & Co Inc
Address
1529 ST CLAIR AVENUE, CLEVELAND, OH 44114
Preparer
Robert F Kellogg
Phone
2166870220
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Spaces commissions artists from around the world-at all stages of their careers-to make new work that is responsive to timely issues. Through our residency & exhibition program, we provide compensation, support, and access to resources for cultural producers who immerse themselves in cleveland for up to eight weeks. Through our regranting programs, residencies, and public programs, we give artists the kind of support rarely seen outside major institutions, leading to ambitious new projects that reach an international stage and expand artists' practices. In 2002, spaces established our international artist residency model. Resulting programming is presented quarterly, with resident projects exhibited in conjunction with other artist projects. Our regranting programs include the satellite fund, administered by spaces through a regional regranting program of the andy warhol foundation for the visual arts, and the urgent art fund, administered by spaces as a part of the support for artists for cuyahoga county artists, in partnership with cuyahoga arts & culture. These grants may go toward production expenses and artist commission for the creation of "urgent art" that is socially, politically, or culturally responsive. By designating funds specifically for such projects taking place in the public realm, we can help artists immediately engage their community in creative dialogue about the most pressing issues. By infusing our cultural economy with this support, we hope to contribute to the long-term vitality of the field. Spaces' creative engagement initiatives complement our exhibitions with audience-forward programming contextualized by on-site, off-site, and digital exhibitions and artist projects. By providing accessible ways of learning about art, artists, and creative production we help forge connections and understanding of the cultural value of art.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

To support the organizaton's mission. Under terms of the endowment, the organization has agreed to limit annual distributions to 5% of the previous year's investment value.

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0438459
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IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
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IRS990ScheduleD/RevenueSubtotalAmt0477335
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO SUPPORT THE ORGANIZATON'S MISSION. UNDER TERMS OF THE ENDOWMENT, THE ORGANIZATION HAS AGREED TO LIMIT ANNUAL DISTRIBUTIONS TO 5% OF THE PREVIOUS YEAR'S INVESTMENT VALUE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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