Civic Intelligence

The Rebuild Foundation Nfp

990 • Fiscal year 2018 • EIN 47-3026162

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 02, 2019

6918 South Dorchester AveChicago, IL 60637

(312) 857-5561

Siviq Scores

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

Liabilities / Assets

40th percentile

0.04x

Higher debt load relative to assets than 40% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

3.86x

Higher debt load relative to revenue than 94% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

1st percentile

-3580%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

75th percentile

$116,000

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 361.1% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

4th percentile

-27%

Faster asset growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

10th percentile

-29%

Faster revenue growth than 10% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$2,931,173

Down $1,104,055 (-27%) from 2017

Net Assets

Down

$2,807,204

Down $1,109,207 (-28%) from 2017

Liabilities

Up

$123,969

Up $5,152 (+4.3%) from 2017

Revenue

Down

$32,125

Down $13,375 (-29%) from 2017

Expenses

Up

$1,182,238

Up $103,109 (+9.6%) from 2017

Net Income

Down

-$1,150,113

Down $116,484 (-11%) from 2017

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2016: $5,042,101Liabilities 2016: $110,840Net Assets 2016: $4,931,2612016Assets 2017: $4,035,228Liabilities 2017: $118,817Net Assets 2017: $3,916,4112017Assets 2018: $2,931,173Liabilities 2018: $123,969Net Assets 2018: $2,807,2042018Assets 2019: $5,626,801Liabilities 2019: $181,449Net Assets 2019: $5,445,3522019Assets 2020: $5,825,442Liabilities 2020: $189,752Net Assets 2020: $5,635,6902020Assets 2021: $11,482,913Liabilities 2021: $168,743Net Assets 2021: $11,314,1702021Assets 2022: $13,985,700Liabilities 2022: $950,712Net Assets 2022: $13,034,9882022Assets 2023: $14,322,177Liabilities 2023: $2,657,544Net Assets 2023: $11,664,6332023Assets 2024: $18,019,261Liabilities 2024: $8,029,663Net Assets 2024: $9,989,5982024

Highlighted filing

2018

Assets$2,931,173
Liabilities$123,969
Net Assets$2,807,204

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2016: $5,322,821Expenses 2016: $392,867Net Income 2016: $4,929,9542016Revenue 2017: $45,500Expenses 2017: $1,079,129Net Income 2017: -$1,033,6292017Revenue 2018: $32,125Expenses 2018: $1,182,238Net Income 2018: -$1,150,1132018Revenue 2019: $3,717,827Expenses 2019: $1,106,415Net Income 2019: $2,611,4122019Revenue 2020: $1,449,463Expenses 2020: $1,259,125Net Income 2020: $190,3382020Revenue 2021: $7,037,576Expenses 2021: $1,359,096Net Income 2021: $5,678,4802021Revenue 2022: $4,385,874Expenses 2022: $2,665,056Net Income 2022: $1,720,8182022Revenue 2023: $2,369,652Expenses 2023: $3,816,136Net Income 2023: -$1,446,4842023Revenue 2024: $1,621,117Expenses 2024: $3,296,152Net Income 2024: -$1,675,0352024

Highlighted filing

2018

Revenue$32,125
Expenses$1,182,238
Net Income-$1,150,113
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 2, 2019
Return Version
2018v3.1
Gross Receipts
$32,125
Mission and Program Overview

Mission

The organization's mission is to promote, support and advance public appreciation of the arts, culture and civic initiatives; to own, develop, and manage properties dedicated to culture and the advancement of artistic practices of artists and the transformation of communities that support the arts; promote, protec, and maintain works of art and the legacy of artists; and make distributions to organizations that qualify as exempt organizations.

See Schuedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$3,916,411$2,807,204▼ $1,109,207
Land, Buildings, and Equipment, Net$951,135$1,335,297▲ $384,162
Cash and Non-Interest-Bearing Accounts$1,644,127$1,296,312▼ $347,815
Pledges and Grants Receivable$1,430,770$257,534▼ $1,173,236
Prepaid Expenses and Deferred Charges$9,196$34,780▲ $25,584
Total Assets$4,035,228$2,931,173▼ $1,104,055
Other Assets Total-$7,250-
Liabilities
Accounts Payable and Accrued Expenses$118,817$123,638▲ $4,821
Other Liabilities-$331-
Total Liabilities$118,817$123,969▲ $5,152
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,916,411$2,807,204▼ $1,109,207
Total Liabilities and Net Assets / Fund Balance$4,035,228$2,931,173▼ $1,104,055

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$820,068--
Land$116,675--
Equipment$17,369$3,686-
Leasehold Improvements$381,185$138,899-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Theaster Gates JRPresidentPT$116,000$116,000

Board Members and Trustees

NameTitle
Acasia WilsonDirector
John CampbellDirector
Richard SciortinoDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$32,125
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$32,125
Change in Net Assets
$-1,150,113
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$737,696
Salaries, Compensation, and Employee Benefits$442,542
Total Fundraising Expense$49,077
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$199,680$160,204$49,077$408,961
Fees for Services Other$237,689$35,470$0$273,159
Occupancy$101,491$42,441$0$143,932
Depreciation Depletion$0$98,328$0$98,328
Office Expenses$21,941$34,497$0$56,438
Payroll Taxes$3,678$29,903$0$33,581
Fees for Services Accounting$0$32,169$0$32,169
Insurance$0$27,502$0$27,502
Fees for Services Legal$0$24,789$0$24,789
Travel$17,366$5,037$0$22,403
Other Expenses$13,752$50$0$13,802
Advertising$10,071$0$0$10,071
All Other Expenses$3,548$200$0$3,748
Grants to Domestic Orgs$2,000--$2,000
Total Functional Expenses$642,571$490,590$49,077$1,182,238
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Grand Crossing ManagementOwnerFood ServicesNo$0
The Stony Group LLCOwnerRentNo$0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
IL Unemployment Tax$331
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Filing and Contact Details

Filer

Filer Name
Space Fund NFP
EIN
47-3026162
Phone
3128575561
Address
6918 South Dorchester Ave, Chicago, IL 60637

Signing Officer

Name
Tregg Duerson
Title
Chief Operating Officer
Phone
3128575561
Signed
2019-10-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Theaster Gates Jr
Formed
2014
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
3
Employees
6
Volunteers
0

Preparer

Firm
Prado & Renteria CPAs Prof Corp
Address
1837 S Michigan Ave 2nd Fl, Chicago, IL 60616
Preparer
Wenqin Zhang
Phone
3125671330
Supplemental Narrative

Additional Explanations

Other

Organization's Mission The organization's mission is to promote, support and advance public appreciation of the arts, culture and civic initiatives; to own, develop, and manage properties dedicated to culture and the advancement of artistic practices of artists and the transformation of communities that support the arts; promote, protect, and maintain works of art and the legacy of artists; and make distributions to organizations that qualify as exempt organizations.

Pt V, Line 14B

Form 990, Part III, Line 4a - First Accomplishment Participation in on-going community programming at the Stony Island Arts Bank. Partnership with Rebuild Foundation on the activation of the Arts Bank Campus and additional renovation to the site. On going dialog with local community through a program called Ethical Redevelopment which trains community members in development strategies and has created a net working platform for future urban leaders. Space Fund has ongoing participation in local and national conversations around the issues of urban transformation. We remain a leader in smart growth efforts and neighborhood stewardship.

Pt VI, Line 11B

Form 990, Part VI, Line 11b - Organization's Process to Review Form 990 Form 990 was reviewed by the Treasurer on behalf of the Board of Directors

Pt VI, Line 12C

Form 990, Part VI, Line 12c - Enforcement of Conflicts Policy Annual conflict disclosures are sent out that require disclosure or reaffirmation that none exist.

Pt VI, Line 15A

Compensation Process for Top Official Research online of comparable positions & reviewing public data.

Pt VI, Line 19

Governing Documents Disclosure Explanation Governing documents are made available upon request.

Pt XI

The 2017 Form 990 was submitted before the audit was completed. The beginning net assets needed to be adjusted per audit adjustments.

Form 990, Part IX, Line 24E

Performnace fees 2975. 2975. 0. 0.

Form 990, Part IX, Line 24E

Licenses and Fees 521. 321. 200. 0.

Form 990, Part IX, Line 24E

Dues & Subscriptions 150. 150. 0. 0.

Form 990, Part IX, Line 24E

Employee Expense 102. 102. 0. 0.

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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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IRS990ScheduleD/EquipmentGrp/BookValueAmt017369
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03686
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt021055
IRS990ScheduleD/LandGrp/BookValueAmt0116675
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0116675
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0381185
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0138899
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0520084
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0331
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0IL Unemployment Tax
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01335297
IRS990ScheduleD/TotalLiabilityAmt0331
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0The Stony Group LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1Grand Crossing Management
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Owner
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1Owner
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Rent
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Food Services
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Organization's Mission The organization's mission is to promote, support and advance public appreciation of the arts, culture and civic initiatives; to own, develop, and manage properties dedicated to culture and the advancement of artistic practices of artists and the transformation of communities that support the arts; promote, protect, and maintain works of art and the legacy of artists; and make distributions to organizations that qualify as exempt organizations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990, Part III, Line 4a - First Accomplishment Participation in on-going community programming at the Stony Island Arts Bank. Partnership with Rebuild Foundation on the activation of the Arts Bank Campus and additional renovation to the site. On going dialog with local community through a program called Ethical Redevelopment which trains community members in development strategies and has created a net working platform for future urban leaders. Space Fund has ongoing participation in local and national conversations around the issues of urban transformation. We remain a leader in smart growth efforts and neighborhood stewardship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990, Part VI, Line 11b - Organization's Process to Review Form 990 Form 990 was reviewed by the Treasurer on behalf of the Board of Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990, Part VI, Line 12c - Enforcement of Conflicts Policy Annual conflict disclosures are sent out that require disclosure or reaffirmation that none exist.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation Process for Top Official Research online of comparable positions & reviewing public data.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing Documents Disclosure Explanation Governing documents are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The 2017 Form 990 was submitted before the audit was completed. The beginning net assets needed to be adjusted per audit adjustments.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Performnace fees 2975. 2975. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Licenses and Fees 521. 321. 200. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Dues & Subscriptions 150. 150. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Employee Expense 102. 102. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt V, Line 14b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04035228
IRS990/TotalAssetsEOYAmt02931173
IRS990/TotalAssetsGrp/BOYAmt04035228
IRS990/TotalAssetsGrp/EOYAmt02931173
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt032125
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt049077
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0490590
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0642571
IRS990/TotalFunctionalExpensesGrp/TotalAmt01182238
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0118817
IRS990/TotalLiabilitiesEOYAmt0123969
IRS990/TotalLiabilitiesGrp/BOYAmt0118817
IRS990/TotalLiabilitiesGrp/EOYAmt0123969
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03916411
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02807204
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0642571
IRS990/TotalReportableCompFromOrgAmt0116000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt032125
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04035228
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02931173
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt05037
IRS990/TravelGrp/ProgramServicesAmt017366
IRS990/TravelGrp/TotalAmt022403
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt06918 S Dorchester
IRS990/USAddress/CityNm0chicago
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060637
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.spacefundchicago.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-01-14 16:20:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Tregg Duerson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chief Operating Officer
ReturnHeader/BusinessOfficerGrp/PhoneNum03128575561
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Space Fund NFP
ReturnHeader/Filer/BusinessNameControlTxt0SPAC
ReturnHeader/Filer/EIN0473026162
ReturnHeader/Filer/PhoneNum03128575561
ReturnHeader/Filer/USAddress/AddressLine1Txt06918 South Dorchester Ave
ReturnHeader/Filer/USAddress/CityNm0Chicago
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060637
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId03F6EE077D64F504EFBD03D5D3E8BC1D093C0B1F3
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03F6EE077D64F504EFBD03D5D3E8BC1D093C0B1F3
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt098.227.1.147
ReturnHeader/FilingSecurityInformation/IPDt02019-10-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm015:00:04
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Prado & Renteria CPAs Prof Corp
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01837 S Michigan Ave 2nd Fl
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060616
ReturnHeader/PreparerPersonGrp/PhoneNum03125671330
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Wenqin Zhang
ReturnHeader/ReturnTs02019-10-04T15:00:28-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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