Civic Intelligence

Equaspace

990 • Fiscal year 2024 • EIN 84-2176692

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 13, 2025

Organization ProfileEQUASPACE.ORG
PO Box 4458St Paul, MN 55104

(612) 804-3986

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.96x

Higher debt load relative to assets than 93% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

1.83x

Higher debt load relative to revenue than 93% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

13th percentile

-22%

Higher net margin than 13% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

87th percentile

$179,761

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 13.3% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

99th percentile

475%

Faster asset growth than 99% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

534%

Faster revenue growth than 98% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$2,584,944

Up $2,135,339 (+475%) from 2023

Net Assets

Down

$105,550

Down $297,637 (-74%) from 2023

Liabilities

Up

$2,479,394

Up $2,432,976 (+5241%) from 2023

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin13th percentile

Revenue

Up

$1,356,531

Up $1,142,411 (+534%) from 2023

Expenses

Up

$1,654,168

Up $1,422,984 (+616%) from 2023

Net Income

Down

-$297,637

Down $280,573 (-1644%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2019: $6,569Liabilities 2019: $2,4652019Assets 2020: $661Liabilities 2020: $8,1002020Assets 2021: $15,542Liabilities 2021: $20,600Net Assets 2021: -$5,0582021Assets 2022: $456,428Liabilities 2022: $36,177Net Assets 2022: $420,2512022Assets 2023: $449,605Liabilities 2023: $46,418Net Assets 2023: $403,1872023Assets 2024: $2,584,944Liabilities 2024: $2,479,394Net Assets 2024: $105,5502024

Highlighted filing

2024

Assets$2,584,944
Liabilities$2,479,394
Net Assets$105,550
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2019: $20,010Expenses 2019: $15,906Net Income 2019: $4,1042019Revenue 2020: $70,001Expenses 2020: $73,444Net Income 2020: -$3,4432020Revenue 2021: $38,500Expenses 2021: $36,119Net Income 2021: $2,3812021Revenue 2022: $1,277,672Expenses 2022: $852,363Net Income 2022: $425,3092022Revenue 2023: $214,120Expenses 2023: $231,184Net Income 2023: -$17,0642023Revenue 2024: $1,356,531Expenses 2024: $1,654,168Net Income 2024: -$297,6372024

Highlighted filing

2024

Revenue$1,356,531
Expenses$1,654,168
Net Income-$297,637
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$1,356,531
Mission and Program Overview

Mission

Equaspace is a nonprofit center start-up. The mission is to provide a platform of high functioning work spaces, shared resources and a platform for collaborative opportunities for 501(c)3's. We work to allow our nonprofit tenants to expand capacity and achieve more mission like many other non profit centers in the united states.as a start-up, our expenses to date are related to market and real estate research, gathering of community input and design planning. We will need to add fundraising, lobbying, staff and other expenses to move into the next phase.

To provide a platform of high functioning work spaces, shared resources and a platform for collaborative opportunities for 501(c)3's.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$40,685$1,025,936▲ $985,251
Cash and Non-Interest-Bearing Accounts$16,273$131,254▲ $114,981
Prepaid Expenses and Deferred Charges$549$40,621▲ $40,072
Savings and Temporary Cash Investments$354,413$18,647▼ $335,766
Accounts Receivable-$4,177-
Total Assets$449,605$2,584,944▲ $2,135,339
Other Assets Total$37,685$1,364,309▲ $1,326,624
Liabilities
Other Liabilities$0$1,459,301▲ $1,459,301
Accounts Payable and Accrued Expenses$46,418$503,975▲ $457,557
Unsecured Notes Loans Payable-$500,000-
Deferred Revenue-$16,118-
Total Liabilities$46,418$2,479,394▲ $2,432,976
Net Assets / Fund Balance
Net Assets With Donor Restrictions$329,315$0▼ $329,315
Net Assets Without Donor Restrictions$73,872$105,550▲ $31,678
Total Net Assets Fund Balance$403,187$105,550▼ $297,637
Total Liabilities and Net Assets / Fund Balance$449,605$2,584,944▲ $2,135,339

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$915,618$37,543$953,161
Equipment$110,318-$110,318
Other Assets Org$1,326,624--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sarah ClyneExecutive DirectorFT$177,353$2,408$179,761

Board Members and Trustees

NameTitle
Susan KellyFounder and Board Chair
Ron LattinVice Chair
Imee CambroneroDirector
Kelli NelsonDirector
Mike LuseniDirector
Sheila Mozayeny-haleDirector
Sook Jin OngDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,303,801
Program Service Revenue
$52,123
Investment Income
$607
Other Revenue
$0
All Other Contributions
$1,303,801
Change in Net Assets
$-297,637

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,356,531
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,356,531
Total Revenue per Form 990
$1,356,531
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,377,932
Salaries, Compensation, and Employee Benefits$276,236
Total Fundraising Expense$154,043
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$783,160$31,028-$814,188
Occupancy$224,880$5,854-$230,734
Fees for Services Other$128,185-$74,167$202,352
Current Officers, Directors, Trustees, and Key Employees$161,785$17,976-$179,761
Other Salaries and Wages$6,259$7,458$53,647$67,364
Depreciation Depletion$37,543--$37,543
Fees for Services Accounting-$33,759-$33,759
Payroll Taxes$12,377$1,880$4,002$18,259
Interest$15,231--$15,231
Other Employee Benefits$6,821$1,124$2,907$10,852
Advertising--$8,376$8,376
Insurance-$5,017-$5,017
Conferences and Meetings$3,607--$3,607
Fees for Services Legal-$2,288-$2,288
Travel--$1,884$1,884
Other Expenses$13,250$643$9,060$643
Total Functional Expenses$1,393,098$107,027$154,043$1,654,168

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,654,168
Total Expenses per Audited Statements$1,654,168
Total Expenses per Form 990$1,654,168
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
Rou Lease Liability$1,444,309
Tenant Security Deposits$14,992
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 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
No
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 A, Line 8B

“There are no committees with the authority to act on behalf of the organization.”

Form 990, Part VI, Section B, Line 11B

“The board reviews the form 990 at a board meeting and a vote is taken to approve the 990.”

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

“The board chair sends out the conflict of interest policy annually to board and staff and signed copies are kept on file. During the year, if any conflicts arise, they are brought to the board's attention immediately and the person with the potential conflict is excluded from discussion and approval of the potential conflict. Competitive bids or comparative values are attained, and the board then determines what is in the best interest of the organization.”

Form 990, Part VI, Section B, Line 15

“The board reviews accomplishments of the executive director and the board has reviewed market rates and discusses compensation annually. The process described here was last completed in 2024.”

Form 990, Part VI, Section C, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Equaspace
EIN
84-2176692
Phone
6128043986
Address
PO BOX 4458, ST PAUL, MN 55104

Signing Officer

Name
Sheila Mozayeny-hale
Title
Board Chair
Phone
6128043986
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sheila Mozayeny-hale
Formed
2019
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
5

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 S 6TH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Ann Neil
Phone
6123764500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional services: program service expenses 128,185. Management and general expenses 0. Fundraising expenses 74,167. Total expenses 202,352.”

Financial Statement Notes

PART X, LINE 2:

“The organization has a tax-exempt status under section 501(c)(3) of the internal revenue code and has adopted accounting for uncertainty in income taxes, asc 740-10. The organization's policy is to evaluate uncertain tax positions, at least annually, for the potential for income tax exposure from unrelated business income or from loss of nonprofit status. The organization continues to operate consistently with its original exemption application and each year takes the necessary actions to maintain its exempt status. It has been classified as an organization that is not a private foundation under the internal revenue code and charitable contributions by donors are tax deductible. In compliance with its exempt status, the organization annually files a return of organization exempt from income tax (form 990).”

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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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IRS990/PYTotalRevenueAmt0214120
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-297637
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
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IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0354413
IRS990/SavingsAndTempCashInvstGrp/EOYAmt018647
IRS990ScheduleA/FactsAndCircumstancesTestTxt0EQUASPACE SEEKS TO GAIN SITE CONTROL OVER OFFICE/WORK SPACES IN ORDER TO FULFILL ITS MISSION OF PROVIDING HIGH FUNCTIONING WORK SPACES AND OTHER RELATED PROGRAMMING AND RESOURCES TO 501(C)3'S.EQUASPACE'S BOARD OF DIRECTORS IS MADE UP OF INDIVIDUALS THAT REPRESENT A BROAD INTEREST OF THE GENERAL PUBLIC. THE ORGANIZATION HAS A LONG START-UP PHASE AS IT REQUIRES SIGNIFICANT MARKET AND REAL ESTATE RESEARCH AND FUNDED BY LARGE GRANTS FROM A FEW FOUNDATIONS. ONCE EQUASPACE GAINED SITE CONTROL OVER OFFICE/WORK SPACES, PROGRAM RELATED RENTAL ACTIVITY WOULD INCREASE AND THE NEED FROM LARGE GRANTS FROM A FEW FOUNDATIONS WOULD DECREASE.
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0213000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01277540
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt038500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt070000
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01860
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt052123
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.13470
IRS990ScheduleA/PublicSupportPY170Pct00.10160
IRS990ScheduleA/PublicSupportTotal170Amt0391405
IRS990ScheduleA/SubstantialContributorsTotAmt02511436
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01303801
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0213000
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt038500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt070000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02902841
IRS990ScheduleA/TotalSupportAmt02904701
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt037543
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0953161
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt037685
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11326624
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ROU LEASE ASSET
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01444309
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt114992
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ROU LEASE LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01356531
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ASC 740-10. THE ORGANIZATION'S POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS, AT LEAST ANNUALLY, FOR THE POTENTIAL FOR INCOME TAX EXPOSURE FROM UNRELATED BUSINESS INCOME OR FROM LOSS OF NONPROFIT STATUS. THE ORGANIZATION CONTINUES TO OPERATE CONSISTENTLY WITH ITS ORIGINAL EXEMPTION APPLICATION AND EACH YEAR TAKES THE NECESSARY ACTIONS TO MAINTAIN ITS EXEMPT STATUS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. IN COMPLIANCE WITH ITS EXEMPT STATUS, THE ORGANIZATION ANNUALLY FILES A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01025936
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01364309
IRS990ScheduleD/TotalExpensesPerForm990Amt01654168
IRS990ScheduleD/TotalLiabilityAmt01459301
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SARAH CLYNE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS ACCOMPLISHMENTS OF THE EXECUTIVE DIRECTOR AND THE BOARD HAS REVIEWED MARKET RATES AND DISCUSSES COMPENSATION ANNUALLY.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE FORM 990 AT A BOARD MEETING AND A VOTE IS TAKEN TO APPROVE THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD CHAIR SENDS OUT THE CONFLICT OF INTEREST POLICY ANNUALLY TO BOARD AND STAFF AND SIGNED COPIES ARE KEPT ON FILE. DURING THE YEAR, IF ANY CONFLICTS ARISE, THEY ARE BROUGHT TO THE BOARD'S ATTENTION IMMEDIATELY AND THE PERSON WITH THE POTENTIAL CONFLICT IS EXCLUDED FROM DISCUSSION AND APPROVAL OF THE POTENTIAL CONFLICT. COMPETITIVE BIDS OR COMPARATIVE VALUES ARE ATTAINED, AND THE BOARD THEN DETERMINES WHAT IS IN THE BEST INTEREST OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS ACCOMPLISHMENTS OF THE EXECUTIVE DIRECTOR AND THE BOARD HAS REVIEWED MARKET RATES AND DISCUSSES COMPENSATION ANNUALLY. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 128,185. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 74,167. TOTAL EXPENSES 202,352.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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Document Assets

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Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,584,944
Liabilities
$2,479,394
Net assets
$105,550
Revenue
$1,356,531
Expenses
$1,654,168
Net income
-$297,637
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$2.48$0.11$1.36$1.65$0.30
2023Summary only. Only limited summary data is available for this year.$0.45$0.05$0.40$0.21$0.23$0.02
2022Summary only. Only limited summary data is available for this year.$0.46$0.04$0.42$1.28$0.85$0.43
2021Detailed filing. Detailed filing data is available for this year.$0.02$0.02$0.01$0.04$0.04$0.00
2020Summary only. Only limited summary data is available for this year.$0.00$0.01$0.07$0.07$0.00
2019Summary only. Only limited summary data is available for this year.$0.01$0.00$0.02$0.02$0.00