Civic Intelligence

Spaceworks Nyc Inc.

990 • Fiscal year 2017 • EIN 46-0633792

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 02, 2017

Organization ProfileWWW.SPACEWORKSNYC.ORG
540 President St Suite Unit 2EBrooklyn, NY 11215

(718) 408-8755

Siviq Scores

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

Liabilities / Assets

81st percentile

0.38x

Higher debt load relative to assets than 81% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

82nd percentile

0.37x

Higher debt load relative to revenue than 82% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

5th percentile

-53%

Higher net margin than 5% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

5th percentile

-31%

Faster asset growth than 5% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-25%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$708,678

Down $320,538 (-31%) from 2016

Net Assets

Down

$437,910

Down $389,406 (-47%) from 2016

Liabilities

Up

$270,768

Up $68,868 (+34%) from 2016

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin5th percentile

Revenue

Down

$740,070

Down $240,654 (-25%) from 2016

Expenses

Up

$1,129,476

Up $159,013 (+16%) from 2016

Net Income

Down

-$389,406

Down $399,667 (-3895%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2013: $1,069,341Liabilities 2013: $315,375Net Assets 2013: $753,9662013Assets 2014: $703,056Liabilities 2014: $204,288Net Assets 2014: $498,7682014Assets 2015: $1,297,157Liabilities 2015: $480,102Net Assets 2015: $817,0552015Assets 2016: $1,029,216Liabilities 2016: $201,900Net Assets 2016: $827,3162016Assets 2017: $708,678Liabilities 2017: $270,768Net Assets 2017: $437,9102017Assets 2018: $2,775,132Liabilities 2018: $203,243Net Assets 2018: $2,571,8892018Assets 2019: $1,945,699Liabilities 2019: $134,523Net Assets 2019: $1,811,1762019Assets 2020: $311,147Liabilities 2020: $318,268Net Assets 2020: -$7,1212020Assets 2021: $5,858Liabilities 2021: $7,603Net Assets 2021: -$1,7452021Assets 2022: $5,367Liabilities 2022: $7,653Net Assets 2022: -$2,2862022

Highlighted filing

2017

Assets$708,678
Liabilities$270,768
Net Assets$437,910
Open 2017 Filing

Operations Trend

Revenue Growth11th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2013: $1,496,120Expenses 2013: $742,154Net Income 2013: $753,9662013Revenue 2014: $714,119Expenses 2014: $969,317Net Income 2014: -$255,1982014Revenue 2015: $1,874,938Expenses 2015: $1,556,651Net Income 2015: $318,2872015Revenue 2016: $980,724Expenses 2016: $970,463Net Income 2016: $10,2612016Revenue 2017: $740,070Expenses 2017: $1,129,476Net Income 2017: -$389,4062017Revenue 2018: $3,466,101Expenses 2018: $1,332,122Net Income 2018: $2,133,9792018Revenue 2019: $1,060,516Expenses 2019: $1,821,230Net Income 2019: -$760,7142019Revenue 2020: $269,250Expenses 2020: $2,087,547Net Income 2020: -$1,818,2972020Revenue 2021: $33,461Expenses 2021: $28,085Net Income 2021: $5,3762021Revenue 2022: $149Expenses 2022: $690Net Income 2022: -$5412022

Highlighted filing

2017

Revenue$740,070
Expenses$1,129,476
Net Income-$389,406
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 2, 2017
Return Version
2016v3.1
Gross Receipts
$740,070
Mission and Program Overview

Mission

Spaceworks nyc, inc. Is a not-for-profit real-estate development organization dedicated to expanding the supply of long-term, affordable rehearsal and studio space for artists in new york city.

Spaceworks NYC, Inc. is a not-for-profit REAL-ESTATE DEVELOPMENT ORGANIZATION DEDICATED TO EXPANDING THE SUPPLY OF LONG-TERM, AFFORDABLE REHEARSAL & STUDIO SPACE FOR ARTISTS IN NYC.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$550,000$307,460▼ $242,540
Land, Buildings, and Equipment, Net$210,788$122,829▼ $87,959
Savings and Temporary Cash Investments$126,066$100,114▼ $25,952
Cash and Non-Interest-Bearing Accounts$90,225$94,259▲ $4,034
Accounts Receivable$27,803$49,236▲ $21,433
Prepaid Expenses and Deferred Charges$17,834$28,280▲ $10,446
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,029,216$708,678▼ $320,538
Other Assets Total$6,500$6,500→ $0
Liabilities
Unsecured Notes Loans Payable$80,000$120,000▲ $40,000
Accounts Payable and Accrued Expenses$43,845$80,089▲ $36,244
Deferred Revenue$71,943$66,580▼ $5,363
Other Liabilities$6,112$4,099▼ $2,013
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$201,900$270,768▲ $68,868
Net Assets / Fund Balance
Temporarily Rstr Net Assets$686,884$265,841▼ $421,043
Unrestricted Net Assets$140,432$172,069▲ $31,637
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$827,316$437,910▼ $389,406
Total Liabilities and Net Assets / Fund Balance$1,029,216$708,678▼ $320,538

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$38,609$292,527$331,136
Equipment$84,220$24,715$108,935
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paul ParkhillExecutive Director (Former)FT$141,129$26,944$168,073

Board Members and Trustees

NameTitle
Pamela WassersteinChair
Kimberly HoldenVice Chair
Andrew UriarteDirector
Charles RenfroDirector
David KorenDirector
Joe DanielsDirector
Josh SirefmanDirector
Sergio BessaDirector
Terry FassburgDirector
Commissioner Tom FinkelpearlDirector (Ex Officio)
Deputy Mayor Alicia GlenDirector (Ex Offico)
Risa ShoupExecutive Director
Xaviera SimmonsSecretary
Gary HattemTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$399,124
Program Service Revenue
$340,897
Investment Income
$49
Other Revenue
$0
All Other Contributions
$112,123
Change in Net Assets
$-389,406

Audited Revenue Reconciliation

Revenue per Audited Statements
$740,070
Total Revenue per Audited Statements
$740,070
Total Revenue per Form 990
$740,070
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$972,237
Salaries, Compensation, and Employee Benefits$157,239
Total Fundraising Expense$28,051
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$158,364$7,275$1,795$167,434
Current Officers, Directors, Trustees, and Key Employees$128,787$22,185$6,267$157,239
Fees for Services Other$70,669$79,769$687$151,125
Depreciation Depletion$77,536$8,361$2,062$87,959
Other Expenses$55,295$5,303$1,305$61,903
Fees for Services Accounting$23,615$26,656$229$50,500
Office Expenses$38,192$2,772$685$41,649
Insurance$25,415$2,741$676$28,832
Information Technology$14,518$409$101$15,028
Travel$6,591$480$118$7,189
Advertising$997$107$27$1,131
Total Functional Expenses$895,287$206,138$28,051$1,129,476

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,129,476
Total Expenses per Audited Statements$1,129,476
Total Expenses per Form 990$1,129,476
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit Payable$2,650
Deferred Lease Liability$1,449
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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

Part VI, Section B. - Question 11B

“Management assists in the preparation and review of the form 990. Once a draft is produced, it is reviewed for content by the Executive Director. The draft is then submitted to the Board of Directors for review and comment. Following this review, the 990 is filed.”

Part VI, Section B. - Question 12C

“Officers, directors, and key employees are asked annually to submit a signed disclosure regarding potential conflicts of interest to the Executive Director and Board Chair.”

Part VI, Section C. - Question 19

“SPACEWORKS makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Spaceworks NYC Inc
EIN
46-0633792
In Care Of
% RISA SHOUP EXECUTIVE DIRECT
Phone
7184088755
Address
540 President St Suite Unit 2E, Brooklyn, NY 11215

Signing Officer

Name
James J Reilly
Title
accountant
Phone
2126617777
Signed
2017-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Risa Shoup
Formed
2012
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
13

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY L
Address
ONE BATTERY PARK PLAZA, NEW YORK, NY 10004-1405
Preparer
James J Reilly
Phone
2126617777
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IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director (Ex Officio)
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director (Ex Offico)
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0SPACEWORKS NYC, INC. IS A NOT-FOR-PROFIT REAL-ESTATE DEVELOPMENT ORGANIZATION DEDICATED TO EXPANDING THE SUPPLY OF LONG-TERM, AFFORDABLE REHEARSAL AND STUDIO SPACE FOR ARTISTS IN NEW YORK CITY.
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IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt01795
IRS990/OccupancyGrp/ManagementAndGeneralAmt07275
IRS990/OccupancyGrp/ProgramServicesAmt0158364
IRS990/OccupancyGrp/TotalAmt0167434
IRS990/OfficeExpensesGrp/FundraisingAmt0685
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02772
IRS990/OfficeExpensesGrp/ProgramServicesAmt038192
IRS990/OfficeExpensesGrp/TotalAmt041649
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt06500
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IRS990/OtherExpensesGrp/Desc1MINOR FURNITURE & EQUIPMENT
IRS990/OtherExpensesGrp/Desc2OTHER
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IRS990/OtherExpensesGrp/FundraisingAmt1326
IRS990/OtherExpensesGrp/FundraisingAmt21305
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11322
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IRS990/OtherExpensesGrp/ProgramServicesAmt112256
IRS990/OtherExpensesGrp/ProgramServicesAmt255295
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IRS990/OtherExpensesGrp/TotalAmt113904
IRS990/OtherExpensesGrp/TotalAmt261903
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt028280
IRS990/PrincipalOfficerNm0RISA SHOUP
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IRS990/PYOtherRevenueAmt064568
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IRS990/PYTotalExpensesAmt0970463
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IRS990/ReconcilationRevenueExpnssAmt0-389406
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt017000

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$708,678
Liabilities
$270,768
Net assets
$437,910
Revenue
$740,070
Expenses
$1,129,476
Net income
-$389,406
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.01$0.01$0.00$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.01$0.01$0.00$0.03$0.03$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.31$0.32$0.01$0.27$2.09$1.82
2019Detailed filing. Detailed filing data is available for this year.$1.95$0.13$1.81$1.06$1.82$0.76
2018Detailed filing. Detailed filing data is available for this year.$2.78$0.20$2.57$3.47$1.33$2.13
2017Detailed filing. Detailed filing data is available for this year.$0.71$0.27$0.44$0.74$1.13$0.39
2016Detailed filing. Detailed filing data is available for this year.$1.03$0.20$0.83$0.98$0.97$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.30$0.48$0.82$1.87$1.56$0.32
2014Detailed filing. Detailed filing data is available for this year.$0.70$0.20$0.50$0.71$0.97$0.26
2013Summary only. Only limited summary data is available for this year.$1.07$0.32$0.75$1.50$0.74$0.75