Civic Intelligence

Midland Shared Spaces Inc

990 • Fiscal year 2020 • EIN 45-4737063

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 10, 2021

Organization ProfileWWW.MIDLANDSHAREDSPACES.ORG
3500 N A Street 1100Midland, TX 79705

(432) 685-0400

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

8th percentile

0.00x

Higher debt load relative to revenue than 8% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

22nd percentile

-7.7%

Higher net margin than 22% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

38th percentile

$96,171

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

25th percentile

-1.0%

Faster asset growth than 25% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

75th percentile

19%

Faster revenue growth than 75% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets8th percentile

Assets

Down

$8,438,656

Down $81,327 (-1.0%) from 2019

Net Assets

Down

$8,438,042

Down $79,183 (-0.9%) from 2019

Liabilities

Down

$614

Down $2,144 (-78%) from 2019

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin22nd percentile

Revenue

Up

$1,034,530

Up $161,657 (+19%) from 2019

Expenses

Down

$1,113,713

Down $11,572 (-1.0%) from 2019

Net Income

Up

-$79,183

Up $173,229 (+69%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth25th 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

2020

Assets$8,438,656
Liabilities$614
Net Assets$8,438,042
Open 2020 Filing

Operations Trend

Revenue Growth75th 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

2020

Revenue$1,034,530
Expenses$1,113,713
Net Income-$79,183
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 10, 2021
Return Version
2020v4.0
Gross Receipts
$1,034,530
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$7,879,774$7,587,488▼ $292,286
Savings and Temporary Cash Investments$545,758$785,177▲ $239,419
Cash and Non-Interest-Bearing Accounts$77,009$49,962▼ $27,047
Prepaid Expenses and Deferred Charges$17,412$16,029▼ $1,383
Pledges and Grants Receivable$30$0▼ $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$8,519,983$8,438,656▼ $81,327
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$2,758$614▼ $2,144
Total Liabilities$2,758$614▼ $2,144
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,487,225$8,383,042▼ $104,183
Net Assets With Donor Restrictions$30,000$55,000▲ $25,000
Total Net Assets Fund Balance$8,517,225$8,438,042▼ $79,183
Total Liabilities and Net Assets / Fund Balance$8,519,983$8,438,656▼ $81,327

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,103,637$1,501,986$8,605,623
Other Land Buildings$184,748$419,413$604,161
Equipment$49,103$537,546$586,649
Land$250,000-$250,000
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Autumn VestExecutive DirectorFT$96,171$96,171
Marc KondrupOperations DirectorFT$58,672$58,672

Board Members and Trustees

NameTitle
Joe BakerPAST President
Kristin DittoPresident
Chelsea PervierPresident ELECT
Audra Lynette MeadDirector
Forrest KroschelDirector
Joseph Ray Hughes IiDirector
Kimberly RamirezDirector
Lauryn HendrixDirector
Meghan BerryDirector
Steven JeffcoatDirector
Susana NealeDirector
Abby ChristensenSecretary
Michael McwilliamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$530,001
Program Service Revenue
$499,968
Investment Income
$2,266
Other Revenue
$2,295
All Other Contributions
$443,901
Change in Net Assets
$-79,183

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,034,530
Total Revenue per Audited Statements
$1,034,530
Total Revenue per Form 990
$1,034,530
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$615,835
Salaries, Compensation, and Employee Benefits$497,878
Total Fundraising Expense$27,770
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$298,823$15,472$1,719$316,014
Other Salaries and Wages$239,992--$239,992
Current Officers, Directors, Trustees, and Key Employees$84,646$59,959$12,752$157,357
Other Employee Benefits$58,825$9,790$1,996$70,611
Information Technology$42,990$2,458$418$45,866
Insurance$34,085$8,662$196$42,943
Payroll Taxes$24,444$4,514$960$29,918
Office Expenses$15,252$5,961$3,594$24,807
Fees for Services Accounting-$15,200-$15,200
Fees for Services Other$7,320$2,127$2,350$11,797
Other Expenses$3,029$1,752$171$4,952
Travel$3,555$1,260-$4,815
Advertising-$985-$985
Total Functional Expenses$950,102$135,841$27,770$1,113,713

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,113,713
Total Expenses per Audited Statements$1,113,713
Total Expenses per Form 990$1,113,713
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 1100, MIDLAND, TX 79705

Signing Officer

Name
Marc Kondrup
Title
Operations Director
Signed
2021-09-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Kondrup
Formed
2012
Legal Domicile
TX
Voting Board Members
13
Independent Board Members
13
Employees
9
Volunteers
20

Preparer

Firm
C Marc Martin CPA
Address
PO Box 1775, Midland, TX 79702
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
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4PAST President
IRS990/Form990PartVIISectionAGrp/TitleTxt5Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8President ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Treasurer
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IRS990/InsuranceGrp/FundraisingAmt0196
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IRS990/InterestGrp/TotalAmt00
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IRS990/LegalDomicileStateCd0TX
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OperateHospitalInd0false
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01996
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt09790
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt058825
IRS990/OtherEmployeeBenefitsGrp/TotalAmt070611
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IRS990/OtherExpensesGrp/Desc1UTILITIES
IRS990/OtherExpensesGrp/Desc2COMMUNICATIONS
IRS990/OtherExpensesGrp/Desc3OTHER
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IRS990/OtherExpensesGrp/FundraisingAmt11346
IRS990/OtherExpensesGrp/FundraisingAmt2171
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12699
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21346
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt31752
IRS990/OtherExpensesGrp/ProgramServicesAmt064582
IRS990/OtherExpensesGrp/ProgramServicesAmt148330
IRS990/OtherExpensesGrp/ProgramServicesAmt224229
IRS990/OtherExpensesGrp/ProgramServicesAmt33029
IRS990/OtherExpensesGrp/TotalAmt068238
IRS990/OtherExpensesGrp/TotalAmt153297
IRS990/OtherExpensesGrp/TotalAmt226921
IRS990/OtherExpensesGrp/TotalAmt34952
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
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IRS990/OtherRevenueTotalAmt02295
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0239992
IRS990/OtherSalariesAndWagesGrp/TotalAmt0239992
IRS990/OtherWebsiteInd0X
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IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0960
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04514
IRS990/PayrollTaxesGrp/ProgramServicesAmt024444
IRS990/PayrollTaxesGrp/TotalAmt029918
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt016029
IRS990/PrincipalOfficerNm0MARC KONDRUP
IRS990/ProfessionalFundraisingInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0401566
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0389386
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0384364
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt06230
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,438,656
Liabilities
$614
Net assets
$8,438,042
Revenue
$1,034,530
Expenses
$1,113,713
Net income
-$79,183
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
2020Detailed filing. Detailed filing data is available for this year.$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
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