Civic Intelligence

Midland Shared Spaces Inc

990 • Fiscal year 2015 • EIN 45-4737063

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

Organization ProfileWWW.MIDLANDSHAREDSPACES.ORG
3500 N A StreetMidland, TX 79705

(432) 685-0400

Siviq Scores

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

Liabilities / Assets

26th percentile

0.03x

Higher debt load relative to assets than 26% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

69th percentile

0.45x

Higher debt load relative to revenue than 69% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

9th percentile

-32%

Higher net margin than 9% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

33rd percentile

$86,000

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

10th percentile

-9.8%

Faster asset growth than 10% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

4th percentile

-57%

Faster revenue growth than 4% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets26th percentile

Assets

Flat

$9,893,535

Flat from 2015

Net Assets

Flat

$9,549,621

Flat from 2015

Liabilities

Flat

$343,914

Flat from 2015

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin9th percentile

Revenue

Flat

$758,710

Flat from 2015

Expenses

Flat

$999,775

Flat from 2015

Net Income

Flat

-$241,065

Flat from 2015

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$15M$10M$5.0M$0Assets 2013: $11,257,061Liabilities 2013: $2,025,091Net Assets 2013: $9,231,9702013Assets 2014: $10,971,224Liabilities 2014: $1,180,538Net Assets 2014: $9,790,6862014Assets 2015: $9,893,535Liabilities 2015: $343,914Net Assets 2015: $9,549,6212015Assets 2015: $9,893,535Liabilities 2015: $343,914Net Assets 2015: $9,549,6212015Assets 2016: $9,264,637Liabilities 2016: $18,492Net Assets 2016: $9,246,1452016Assets 2017: $9,022,244Liabilities 2017: $10,642Net Assets 2017: $9,011,6022017Assets 2018: $8,777,623Liabilities 2018: $7,986Net Assets 2018: $8,769,6372018Assets 2019: $8,519,983Liabilities 2019: $2,758Net Assets 2019: $8,517,2252019Assets 2020: $8,438,656Liabilities 2020: $614Net Assets 2020: $8,438,0422020Assets 2021: $9,432,779Liabilities 2021: $6,682Net Assets 2021: $9,426,0972021Assets 2022: $8,019,333Liabilities 2022: $33,531Net Assets 2022: $7,985,8022022Assets 2023: $7,973,029Liabilities 2023: $160,198Net Assets 2023: $7,812,8312023Assets 2024: $7,747,984Liabilities 2024: $53,518Net Assets 2024: $7,694,4662024

Highlighted filing

2015

Assets$9,893,535
Liabilities$343,914
Net Assets$9,549,621
Open 2015 Filing

Operations Trend

Revenue Growth4th percentile

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

$10M$5.0M$0-$5.0MRevenue 2013: $7,739,705Expenses 2013: $268,000Net Income 2013: $7,471,7052013Revenue 2014: $1,779,573Expenses 2014: $1,073,577Net Income 2014: $705,9962014Revenue 2015: $758,710Expenses 2015: $999,775Net Income 2015: -$241,0652015Revenue 2015: $758,710Expenses 2015: $999,775Net Income 2015: -$241,0652015Revenue 2016: $808,023Expenses 2016: $1,111,499Net Income 2016: -$303,4762016Revenue 2017: $835,638Expenses 2017: $1,070,181Net Income 2017: -$234,5432017Revenue 2018: $865,572Expenses 2018: $1,107,537Net Income 2018: -$241,9652018Revenue 2019: $872,873Expenses 2019: $1,125,285Net Income 2019: -$252,4122019Revenue 2020: $1,034,530Expenses 2020: $1,113,713Net Income 2020: -$79,1832020Revenue 2021: $2,388,915Expenses 2021: $1,400,860Net Income 2021: $988,0552021Revenue 2022: $981,926Expenses 2022: $2,425,070Net Income 2022: -$1,443,1442022Revenue 2023: $1,296,087Expenses 2023: $1,475,246Net Income 2023: -$179,1592023Revenue 2024: $1,235,023Expenses 2024: $1,353,388Net Income 2024: -$118,3652024

Highlighted filing

2015

Revenue$758,710
Expenses$999,775
Net Income-$241,065
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.0
Gross Receipts
$758,710
Mission and Program Overview

Mission

Midland shared spaces enhances nonprofit efficiency, provides affordable workspace and back office services and fosters collaborations that better serve the nonprofits and people of midland county.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,472,684$9,261,076▼ $211,608
Pledges and Grants Receivable$1,147,429$434,334▼ $713,095
Cash and Non-Interest-Bearing Accounts$349,521$189,032▼ $160,489
Prepaid Expenses and Deferred Charges$1,380$8,892▲ $7,512
Accounts Receivable$210$201▼ $9
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$10,971,224$9,893,535▼ $1,077,689
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,166,667$333,334▼ $833,333
Accounts Payable and Accrued Expenses$13,871$10,580▼ $3,291
Total Liabilities$1,180,538$343,914▼ $836,624
Net Assets / Fund Balance
Unrestricted Net Assets$9,790,686$9,549,621▼ $241,065
Total Net Assets Fund Balance$9,790,686$9,549,621▼ $241,065
Total Liabilities and Net Assets / Fund Balance$10,971,224$9,893,535▼ $1,077,689

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,179,340$426,283$8,605,623
Other Land Buildings$484,328$119,832$604,160
Equipment$347,408$196,077$543,485
Land$250,000-$250,000
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Vicki JayExecutive DirectorFT$86,000$86,000
Marc KondrupBusiness MgrFT$46,000$46,000

Board Members and Trustees

NameTitle
Ellen HousePresident
Deanna SavagePresident Elect
Barbara MamoulidesDirector
Bill StovallDirector
Jaime AlexanderDirector
Mark PalmerDirector
Michael McwilliamsDirector
Stephen BowermanDirector
Steven JeffcoatDirector
Woodrow BaileyDirector
Dianne WilliamsSecretary
Cynthia BensonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$326,635
Program Service Revenue
$430,924
Investment Income
$1,151
Other Revenue
$0
All Other Contributions
$326,635
Change in Net Assets
$-241,065

Audited Revenue Reconciliation

Revenue per Audited Statements
$758,710
Total Revenue per Audited Statements
$758,710
Total Revenue per Form 990
$758,710
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$664,464
Salaries, Compensation, and Employee Benefits$335,311
Total Fundraising Expense$22,363
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$352,837$18,269$2,030$373,136
Other Salaries and Wages$136,833--$136,833
Current Officers, Directors, Trustees, and Key Employees$70,600$50,500$10,900$132,000
Other Employee Benefits$36,590$8,120$1,677$46,387
Insurance$35,125$4,061$202$39,388
Fees for Services Other$3,622$22,791$155$26,568
Office Expenses$16,727$5,054$855$22,636
Payroll Taxes$15,394$3,863$834$20,091
Other Expenses$8,040$4,424$1,717$12,464
Interest-$9,987-$9,987
All Other Expenses$312$4,017$855$5,184
Total Functional Expenses$837,228$140,184$22,363$999,775

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$999,775
Total Expenses per Audited Statements$999,775
Total Expenses per Form 990$999,775
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Line 11B: Form 990 Review Process

“A copy of the form 990 is provided to the full board prior to filing. The form 990 preparer presents the form 990 to the board at the regularly scheduled board meeting closest to the filing date. The board reviews and approves the form 990 at the meeting. The form 990 is filed by the due date or extended due date.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board members are asked to abstain and/or recuse themselves when the discussion involves any organization or matter where they have a conflict of interest. Board members are asked to provide a written statement that includes organizations, companies or other matters that may present a conflict of interest. The statements are maintained on file in the office of the organization.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The executive committee serves as the personnel committee and reviews comparable salary data compiled by independent organizations that conduct salary reviews and surveys, current local market conditions and the organizations budget to determine appropriate salaries for the executive director and other key personnel.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organizations governing documents, conflict of interest policy and financial statements are made available on a request by request basis.”

Filing and Contact Details

Filer

Filer Name
Midland Shared Spaces Inc
EIN
45-4737063
Phone
4326850400
Address
3500 N A STREET, MIDLAND, TX 79705

Signing Officer

Name
Vicki Jay
Title
Executive Director
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vicki Jay
Formed
2012
Legal Domicile
TX
Voting Board Members
13
Independent Board Members
13
Employees
5
Volunteers
17

Preparer

Firm
C Marc Martin CPA
Address
PO Box 1775, Midland, TX 79702-1775
Preparer
C Marc Martin CPA
Phone
4326850094
Supplemental Narrative

Additional Explanations

Form 990, Part 1, Ln 1 - Sig Activities

“Midland shared spaces provides affordable workspace for nonprofits at below market rents in a class a facility. Also provided is all furniture and equipment, high tech meeting rooms for trainings, smaller board rooms, commercial kitchen, and break rooms.midland shared spaces provides all inormation technology and communication services and equipment for tenant nonprofits as well as onsite technical service at below market rates.midland shared spaces provides collaborative networking with tenants, the nonprofit sector and the community at large as a catalyst for fundamental and lasting changes in the community.”

Financial Statement Notes

Part X : FIN48 Footnote

“Midland shared spaces, inc. Has adopted the provisions of fasb asc 740-10-25, which requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. Midland shared spaces, inc. Does not believe its financial statements include any uncertain tax positions.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
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IRS990/InsuranceGrp/TotalAmt039388
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IRS990/IRPDocumentCnt00
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IRS990/LandBldgEquipCostOrOtherBssAmt010003268
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0MIDLAND SHARED SPACES ENHANCES NONPROFIT EFFICIENCY, PROVIDES AFFORDABLE WORKSPACE AND BACK OFFICE SERVICES AND FOSTERS COLLABORATIONS THAT BETTER SERVE THE NONPROFITS AND PEOPLE OF MIDLAND COUNTY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/FundraisingAmt0855
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05054
IRS990/OfficeExpensesGrp/ProgramServicesAmt016727
IRS990/OfficeExpensesGrp/TotalAmt022636
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01677
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt08120
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt036590
IRS990/OtherEmployeeBenefitsGrp/TotalAmt046387
IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1COMMUNICATIONS
IRS990/OtherExpensesGrp/Desc2REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc3TRAVEL AND TRAINING
IRS990/OtherExpensesGrp/FundraisingAmt03138
IRS990/OtherExpensesGrp/FundraisingAmt11717
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03417
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12964
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22717
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt34424
IRS990/OtherExpensesGrp/ProgramServicesAmt061336
IRS990/OtherExpensesGrp/ProgramServicesAmt152576
IRS990/OtherExpensesGrp/ProgramServicesAmt247236
IRS990/OtherExpensesGrp/ProgramServicesAmt38040
IRS990/OtherExpensesGrp/TotalAmt067891
IRS990/OtherExpensesGrp/TotalAmt157257
IRS990/OtherExpensesGrp/TotalAmt249953
IRS990/OtherExpensesGrp/TotalAmt312464
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0136833
IRS990/OtherSalariesAndWagesGrp/TotalAmt0136833
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0834
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03863
IRS990/PayrollTaxesGrp/ProgramServicesAmt015394
IRS990/PayrollTaxesGrp/TotalAmt020091
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01147429
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0434334
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01380
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08892
IRS990/PrincipalOfficerNm0VICKI JAY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENT/ SHARED SERV
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0430924
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0430924
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01442394
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0190
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0790812
IRS990/PYProgramServiceRevenueAmt0336989
IRS990/PYRevenuesLessExpensesAmt0705996
IRS990/PYSalariesCompEmpBnftPaidAmt0282765
IRS990/PYTotalExpensesAmt01073577
IRS990/PYTotalRevenueAmt01779573
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/BuildingsGrp/BookValueAmt08179340

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,893,535
Liabilities
$343,914
Net assets
$9,549,621
Revenue
$758,710
Expenses
$999,775
Net income
-$241,065
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.75$0.05$7.69$1.24$1.35$0.12
2023Summary only. Only limited summary data is available for this year.$7.97$0.16$7.81$1.30$1.48$0.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.02$0.03$7.99$0.98$2.43$1.44
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.43$0.01$9.43$2.39$1.40$0.99
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.44$0.00$8.44$1.03$1.11$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.52$0.00$8.52$0.87$1.13$0.25
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.78$0.01$8.77$0.87$1.11$0.24
2017Summary only. Only limited summary data is available for this year.$9.02$0.01$9.01$0.84$1.07$0.23
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.26$0.02$9.25$0.81$1.11$0.30
2015Detailed filing. Detailed filing data is available for this year.$9.89$0.34$9.55$0.76$1.00$0.24
2015Summary only. Only limited summary data is available for this year.$9.89$0.34$9.55$0.76$1.00$0.24
2014Detailed filing. Detailed filing data is available for this year.$11.0$1.18$9.79$1.78$1.07$0.71
2013Detailed filing. Detailed filing data is available for this year.$11.3$2.03$9.23$7.74$0.27$7.47