Midland Shared Spaces
- Assets
- $9.4m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Midland, TX
- Founding
- 02/2013
- Data as of
- 12/2021
- EIN
- 45-4737063
Organization Overview
Midland Shared Spaces is located in Midland, TX. The organization was established in 2013. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Midland Shared Spaces employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland Shared Spaces is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Midland Shared Spaces generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 4.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.MIDLAND SHARED SPACES PROVIDES FISCAL SPONSORSHIP OPPORTUNITIES TO ORGANIZATIONS PURSUING TAX EXEMPT STATUS. ONE ORGANIZATION CAME UNDER THE FISCAL SPONSORSHIP UMBRELLA DURING THE YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDLAND SHARED SPACES, INC. PROVIDES NONPROFIT ORGANIZATIONS OPERATING IN MIDLAND COUNTY, TEXAS WITH ADMINISTRATIVE AND PROGRAM OFFICES IN A CLASS A FACILITY AT A DISCOUNTED RATE. SHARED SERVICES INCLUDING IT HARDWARE AND SUPPORT ARE ALSO PROVIDED TO TENANT ORGANIZATIONS AS WELL AS SELECT NONPROFITS OPERATING IN MIDLAND COUNTY, TEXAS BUT OUTSIDE THE MIDLAND SHARED SPACES FACILITY. MIDLAND SHARED SPACES WORKS TO ENCOURAGE NONPROFIT EFFICIENCY AND SUCCESS THROUGH COLLABORATION AND SHARED RESOURCES.
THE FISCAL SPONSORSHIP PROGRAM ALLOWS AN ORGANIZATION TO PURSUE ITS TAX EXEMPT STATUS WHILE OPERATING ITS PROJECT UNDER THE UMBRELLA OF MSS. UNDER THE FISCAL SPONSORSHIP PROGRAM, THE ORGANIZATION AGREES TO BRING THE PROJECT UNDER MSS SUPERVISION, GRANTING THE PROJECT LEGAL AND TAX EXEMPT PROTECTION. DURING 2021, MSS ALLOWED THE LITERACY COALITION OF THE PERMIAN BASIN INTO THE FISCAL SPONSORSHIP PROGRAM WHILE IT PURSUED ITS OWN TAX EXEMPT STATUS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Autumn Vest Executive Dir. | Officer | 40 | $100,032 |
Marc Kondrup Operations Dir. | Officer | 40 | $61,481 |
Kristin Ditto Immed Past Pres | OfficerTrustee | 1 | $0 |
Chelsea Pervier President | OfficerTrustee | 1 | $0 |
Meghan Berry President Elect | OfficerTrustee | 1 | $0 |
Joseph Ray Hughes II Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $25,500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,825,088 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,850,588 |
| Total Program Service Revenue | $542,896 |
| Investment income | $368 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,502 |
| Net Income from Fundraising Events | -$9,191 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,388,915 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $164,113 |
| Compensation of current officers, directors, key employees. | $96,898 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $370,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $85,750 |
| Payroll taxes | $40,340 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,904 |
| Advertising and promotion | $0 |
| Office expenses | $36,418 |
| Information technology | $57,114 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $296,169 |
| Insurance | $43,338 |
| All other expenses | $0 |
| Total functional expenses | $1,400,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $786,022 |
| Savings and temporary cash investments | $710,106 |
| Pledges and grants receivable | $584,360 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,027 |
| Net Land, buildings, and equipment | $7,345,264 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,432,779 |
| Accounts payable and accrued expenses | $6,682 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,682 |
| Net assets without donor restrictions | $8,191,025 |
| Net assets with donor restrictions | $1,235,072 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,432,779 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Midland Shared Spaces has recieved totaling $455,901.
| Awarding Organization | Amount |
|---|---|
Permian Basin Area Foundation Midland, TX PURPOSE: Educational | $207,000 |
Fmh Foundation Midland, TX PURPOSE: IT EXPANSION | $75,000 |
Abell-Hanger Foundation Midland, TX PURPOSE: FOR UNRESTRICTED GENERAL OPERATIONS | $70,000 |
Henry Foundation Midland, TX PURPOSE: GENERAL OPERATING SUPPORTAND IT EXPANSION | $50,000 |
Warren Charitable Foundation Midland, TX PURPOSE: TO FURTHER CHARITABLE PURPOSE | $21,000 |
John And Maurine Cox Foundation Midland, TX PURPOSE: UNRESTRICTED | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Circuit Events Local Organizing Committee Austin, TX | $5,758,250 | $14,482,431 |
American Productivity & Quality Center Inc Houston, TX | $30,940,165 | $18,224,607 |
Dallas Tourism Public Improvement District Corporation Dallas, TX | $29,263,170 | $10,147,188 |
Better Business Bureau Of North Central Texas Inc Dallas, TX | $3,812,795 | $6,541,958 |
Arkansas Capital Corporation Little Rock, AR | $35,717,433 | $8,371,701 |
Open Compute Project Foundation Austin, TX | $5,357,330 | $7,132,647 |
San Antonio Tourism Public Improvement District Corporation San Antonio, TX | $8,579,205 | $6,386,484 |
William A Lawson Institute For Peace & Prosperity Houston, TX | $12,461,470 | $3,692,985 |
Dottie System Inc Baton Rouge, LA | $4,069,603 | $4,084,315 |
Oklahoma Alliance For Manufacturing Excellence Inc Tulsa, OK | $2,792,871 | $3,651,596 |
La Fe Preparatory School Inc El Paso, TX | $1,712,513 | $2,611,735 |
Conference Of Consulting Actuaries Bee Cave, TX | $11,632,171 | $2,821,046 |