Civic Intelligence

Midland Shared Spaces Inc

990 • Fiscal year 2019 • EIN 45-4737063

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 27, 2020

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

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

10th percentile

0.00x

Higher debt load relative to revenue than 10% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

10th percentile

-29%

Higher net margin than 10% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$91,968

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

24th percentile

-2.9%

Faster asset growth than 24% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

41st percentile

0.8%

Faster revenue growth than 41% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets9th percentile

Assets

Down

$8,519,983

Down $257,640 (-2.9%) from 2018

Net Assets

Down

$8,517,225

Down $252,412 (-2.9%) from 2018

Liabilities

Down

$2,758

Down $5,228 (-65%) from 2018

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin10th percentile

Revenue

Up

$872,873

Up $7,301 (+0.8%) from 2018

Expenses

Up

$1,125,285

Up $17,748 (+1.6%) from 2018

Net Income

Down

-$252,412

Down $10,447 (-4.3%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth24th 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 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

2019

Assets$8,519,983
Liabilities$2,758
Net Assets$8,517,225
Open 2019 Filing

Operations Trend

Revenue Growth41st 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 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

2019

Revenue$872,873
Expenses$1,125,285
Net Income-$252,412
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 27, 2020
Return Version
2019v5.0
Gross Receipts
$872,873
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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,190,017$7,879,774▼ $310,243
Savings and Temporary Cash Investments$514,711$545,758▲ $31,047
Cash and Non-Interest-Bearing Accounts$63,604$77,009▲ $13,405
Prepaid Expenses and Deferred Charges$9,291$17,412▲ $8,121
Pledges and Grants Receivable-$30-
Accounts Receivable-$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$8,777,623$8,519,983▼ $257,640
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$7,986$2,758▼ $5,228
Total Liabilities$7,986$2,758▼ $5,228
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,742,637$8,487,225▼ $255,412
Net Assets With Donor Restrictions$27,000$30,000▲ $3,000
Total Net Assets Fund Balance$8,769,637$8,517,225▼ $252,412
Total Liabilities and Net Assets / Fund Balance$8,777,623$8,519,983▼ $257,640

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,318,778$1,286,845$8,605,623
Other Land Buildings$244,663$359,497$604,160
Equipment$66,333$509,246$575,579
Land$250,000-$250,000
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Autumn VestExecutive DirectorFT$91,968$91,968
Marc KondrupOperations DirectorFT$55,677$55,677

Board Members and Trustees

NameTitle
Michael McwilliamsPAST President
Joe BakerPresident
Kristin DittoPresident ELECT
Allen PruittDirector
Chelsea PervierDirector
Deanna SavageDirector
Dr Michele Harmon CobbDirector
Jeff HughesDirector
Lauryn HendrixDirector
Meghan BerryDirector
Steven JeffcoatDirector
Woodrow BaileyDirector
Abby ChristensenSecretary
Jack ReedTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$375,357
Program Service Revenue
$482,368
Investment Income
$11,046
Other Revenue
$4,102
All Other Contributions
$375,357
Change in Net Assets
$-252,412

Audited Revenue Reconciliation

Revenue per Audited Statements
$872,873
Total Revenue per Audited Statements
$872,873
Total Revenue per Form 990
$872,873
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$697,500
Salaries, Compensation, and Employee Benefits$427,785
Total Fundraising Expense$86,354
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$298,996$15,481$1,720$316,197
Other Salaries and Wages$190,498--$190,498
Current Officers, Directors, Trustees, and Key Employees$81,445$57,785$12,320$151,550
Other Employee Benefits$49,040$9,180$1,869$60,089
Information Technology$51,066$2,911$762$54,739
Insurance$31,298$8,814$180$40,292
Office Expenses$25,793$4,694$1,531$32,018
Other Expenses$27,265$1,515$1,515$30,295
Payroll Taxes$20,427$4,305$916$25,648
All Other Expenses$7,827$10,965$1,157$19,949
Fees for Services Accounting-$16,750-$16,750
Fees for Services Other$5,150$6,333-$11,483
Advertising-$3,334-$3,334
Total Functional Expenses$891,255$147,676$86,354$1,125,285

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,125,285
Total Expenses per Audited Statements$1,125,285
Total Expenses per Form 990$1,125,285
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 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, 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
Marc Kondrup
Title
Operations Director
Signed
2020-08-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Kondrup
Formed
2012
Legal Domicile
TX
Voting Board Members
14
Independent Board Members
14
Employees
6
Volunteers
16

Preparer

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

Financial Statement Notes

Part X : FIN48 Footnote

“Midland shared spaces, inc. Adheres to accounting standards for uncertain income tax positions which would require additional disclosure. 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/TitleTxt0EXECUTIVE DIR.
IRS990/Form990PartVIISectionAGrp/TitleTxt1OPERATIONS DIR.
IRS990/Form990PartVIISectionAGrp/TitleTxt2President ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4President
IRS990/Form990PartVIISectionAGrp/TitleTxt5Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15PAST President
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt02911
IRS990/InformationTechnologyGrp/ProgramServicesAmt051066
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IRS990/InsuranceGrp/FundraisingAmt0180
IRS990/InsuranceGrp/ManagementAndGeneralAmt08814
IRS990/InsuranceGrp/ProgramServicesAmt031298
IRS990/InsuranceGrp/TotalAmt040292
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IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
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IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt07879774
IRS990/LandBldgEquipCostOrOtherBssAmt010035362
IRS990/LegalDomicileStateCd0TX
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt09180
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt049040
IRS990/OtherEmployeeBenefitsGrp/TotalAmt060089
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IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2UTILITIES
IRS990/OtherExpensesGrp/Desc3COMMUNICATIONS
IRS990/OtherExpensesGrp/FundraisingAmt062131
IRS990/OtherExpensesGrp/FundraisingAmt12253
IRS990/OtherExpensesGrp/FundraisingAmt21515
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02875
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12734
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21515
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IRS990/OtherExpensesGrp/ProgramServicesAmt148919
IRS990/OtherExpensesGrp/ProgramServicesAmt227265
IRS990/OtherExpensesGrp/TotalAmt062131
IRS990/OtherExpensesGrp/TotalAmt156406
IRS990/OtherExpensesGrp/TotalAmt253906
IRS990/OtherExpensesGrp/TotalAmt330295
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt04102
IRS990/OtherRevenueTotalAmt04102
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0190498
IRS990/OtherSalariesAndWagesGrp/TotalAmt0190498
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IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PYProgramServiceRevenueAmt0457325
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0401566
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0389386
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0384364
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0326635
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt06230
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01151
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt021174
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt04735

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,519,983
Liabilities
$2,758
Net assets
$8,517,225
Revenue
$872,873
Expenses
$1,125,285
Net income
-$252,412
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
2019Detailed filing. Detailed filing data is available for this year.$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
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