Civic Intelligence

Spaceworks Nyc Inc.

990 • Fiscal year 2018 • EIN 46-0633792

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

Organization ProfileWWW.SPACEWORKSNYC.ORG
540 President St No Unit 2Brooklyn, NY 11215

(718) 408-8755

Siviq Scores

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

Liabilities / Assets

54th percentile

0.07x

Higher debt load relative to assets than 54% of similar nonprofits.

2018 filings • NTEE A • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

43rd percentile

0.06x

Higher debt load relative to revenue than 43% of similar nonprofits.

2018 filings • NTEE A • $1M-$5M nonprofits • Source year 2018

Net Margin

94th percentile

62%

Higher net margin than 94% of similar nonprofits.

2018 filings • NTEE A • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

73rd percentile

$98,688

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2018 filings • NTEE A • $1M-$5M nonprofits • Source year 2018

Asset Growth

98th percentile

292%

Faster asset growth than 98% of similar nonprofits.

2018 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

98th percentile

368%

Faster revenue growth than 98% of similar nonprofits.

2018 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$2,775,132

Up $2,066,454 (+292%) from 2017

Net Assets

Up

$2,571,889

Up $2,133,979 (+487%) from 2017

Liabilities

Down

$203,243

Down $67,525 (-25%) from 2017

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin94th percentile

Revenue

Up

$3,466,101

Up $2,726,031 (+368%) from 2017

Expenses

Up

$1,332,122

Up $202,646 (+18%) from 2017

Net Income

Up

$2,133,979

Up $2,523,385 (+648%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth98th 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

2018

Assets$2,775,132
Liabilities$203,243
Net Assets$2,571,889
Open 2018 Filing

Operations Trend

Revenue Growth98th 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

2018

Revenue$3,466,101
Expenses$1,332,122
Net Income$2,133,979
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$3,466,101
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$307,460$2,209,034▲ $1,901,574
Cash and Non-Interest-Bearing Accounts$94,259$224,737▲ $130,478
Land, Buildings, and Equipment, Net$122,829$134,957▲ $12,128
Savings and Temporary Cash Investments$100,114$100,193▲ $79
Accounts Receivable$49,236$51,193▲ $1,957
Prepaid Expenses and Deferred Charges$28,280$36,259▲ $7,979
Total Assets$708,678$2,775,132▲ $2,066,454
Other Assets Total$6,500$18,759▲ $12,259
Liabilities
Mortgage Notes Payable Secured by Investment Property$120,000$80,000▼ $40,000
Accounts Payable and Accrued Expenses$80,089$73,645▼ $6,444
Deferred Revenue$66,580$48,587▼ $17,993
Other Liabilities$4,099$1,011▼ $3,088
Total Liabilities$270,768$203,243▼ $67,525
Net Assets / Fund Balance
Temporarily Rstr Net Assets$265,841$1,865,646▲ $1,599,805
Unrestricted Net Assets$172,069$706,243▲ $534,174
Total Net Assets Fund Balance$437,910$2,571,889▲ $2,133,979
Total Liabilities and Net Assets / Fund Balance$708,678$2,775,132▲ $2,066,454

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$122,051$294,890$416,941
Equipment$12,906$98,806$111,712
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Risa ShoupExecutive DirectorFT$85,625$13,063$98,688

Board Members and Trustees

NameTitle
Pamela WassersteinChair
Kimberly HoldenVice Chair
Andrew UriarteDirector
David KorenDirector
Joe DanielsDirector
Joshua SirefmanDirector
Sergio BessaDirector
Terry FassburgDirector
Commissioner Tom FinkelpearlDirector (ex Officio)
Deputy Mayor Alicia GlenDirector (ex Officio)
Xaviera SimmonsSecretary
Gary HattemTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,035,379
Program Service Revenue
$430,642
Investment Income
$80
Other Revenue
$0
All Other Contributions
$2,496,189
Change in Net Assets
$2,133,979

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,466,101
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,466,101
Total Revenue per Form 990
$3,466,101
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,234,620
Total Fundraising Expense$111,411
Salaries, Compensation, and Employee Benefits$97,502
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$186,499$67,898$20,495$274,892
Occupancy$170,777$11,165$5,676$187,618
Current Officers, Directors, Trustees, and Key Employees$70,722$14,304$12,476$97,502
Depreciation Depletion$67,775$8,679-$76,454
Fees for Services Accounting$30,540$11,119$3,356$45,015
Office Expenses$24,398$14,510$915$39,823
Insurance$22,913$4,951$3,639$31,503
Information Technology$14,358$1,529$1,907$17,794
Travel$2,843$12,756$96$15,695
Advertising$3,003$9,992$197$13,192
Other Expenses$2,798$7,754$62,654$10,552
Total Functional Expenses$957,656$263,055$111,411$1,332,122

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,332,122
Total Expenses per Audited Statements$1,332,122
Total Expenses per Form 990$1,332,122
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit$1,011
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

Form 990, Part VI, Section B, Line 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.”

Form 990, Part VI, Section B, Line 12C

“Officrs, directors, and key employees are asked annually to submit a signed disclosure regarding potential conflicts of interest to the executive director and board chair.”

Form 990, Part VI, Section B, Line 15A

“The executive director's salary is reviewed and approved by the board; senior staff and all other salaries are reviewed and approved by the executive director.”

Form 990, Part VI, Section C, Line 19

“Space works makes its governing documents and finacial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Spaceworks Nyc Inc
EIN
46-0633792
Phone
7184088755
Address
540 PRESIDENT ST NO UNIT 2, BROOKLYN, NY 11215

Signing Officer

Name
Gary Hatterm
Title
Treasurer
Phone
7184088755
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gary Hatterm
Formed
2012
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
James J Reilly
Phone
2126617777
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other : program service expenses 186,499. Management and general expenses 67,898. Fundraising expenses 20,495. Total expenses 274,892.”

Raw XML AppendixShowing 400 of 496 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt080000
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IRS990/NetAssetsOrFundBalancesEOYAmt02571889
IRS990/NetUnrelatedBusTxblIncmAmt02902
IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt011165
IRS990/OccupancyGrp/ProgramServicesAmt0170777
IRS990/OccupancyGrp/TotalAmt0187618
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IRS990/OfficeExpensesGrp/ProgramServicesAmt024398
IRS990/OfficeExpensesGrp/TotalAmt039823
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt018759
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0EMPLOYMENT MGMT. AGREEM
IRS990/OtherExpensesGrp/Desc1OTHER
IRS990/OtherExpensesGrp/Desc2MINOR FURNITURE & EQUIP
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt076321
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt122077
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt27754
IRS990/OtherExpensesGrp/ProgramServicesAmt0357580
IRS990/OtherExpensesGrp/ProgramServicesAmt13450
IRS990/OtherExpensesGrp/ProgramServicesAmt22798
IRS990/OtherExpensesGrp/TotalAmt0496555
IRS990/OtherExpensesGrp/TotalAmt125527
IRS990/OtherExpensesGrp/TotalAmt210552
IRS990/OtherLiabilitiesGrp/BOYAmt04099
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IRS990/PartialLiquidationInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt036259
IRS990/PrincipalOfficerNm0GARY HATTERM
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0430642
IRS990/ProhibitedTaxShelterTransInd00
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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0340897
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IRS990/PYTotalExpensesAmt01129476
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0740070
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt02133979
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0100114
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01727417
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0643312
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0442
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0164
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0764
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0430642
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0258610
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0147079
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt070643
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt080
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0442
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0164
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0764
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt064568
IRS990ScheduleA/OtherIncome509Grp/TotalAmt064568
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98450
IRS990ScheduleA/PublicSupportTotal509Amt07655610
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt010000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt017000
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0916127
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01874496
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0713955
IRS990ScheduleA/Total509Grp/TotalAmt07710710
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01874938
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0714119
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt098806
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01011
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/TotalLiabilityAmt01011
IRS990ScheduleD/TotalRevenuePerForm990Amt03466101
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03466101
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICRS, DIRECTORS, AND KEY EMPLOYEES ARE ASKED ANNUALLY TO SUBMIT A SIGNED DISCLOSURE REGARDING POTENTIAL CONFLICTS OF INTEREST TO THE EXECUTIVE DIRECTOR AND BOARD CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR'S SALARY IS REVIEWED AND APPROVED BY THE BOARD; SENIOR STAFF AND ALL OTHER SALARIES ARE REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SPACE WORKS MAKES ITS GOVERNING DOCUMENTS AND FINACIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER : PROGRAM SERVICE EXPENSES 186,499. MANAGEMENT AND GENERAL EXPENSES 67,898. FUNDRAISING EXPENSES 20,495. TOTAL EXPENSES 274,892.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,775,132
Liabilities
$203,243
Net assets
$2,571,889
Revenue
$3,466,101
Expenses
$1,332,122
Net income
$2,133,979
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