Shopspace Inc
- Assets
- $314.1k
- Revenue
- $303.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Raleigh, NC
- Founding
- 08/2017
- Data as of
- 12/2023
- EIN
- 47-1824082
Organization Overview
Shopspace Inc is located in Raleigh, NC. The organization was established in 2017. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Shopspace Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shopspace Inc 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 12/2023, Shopspace Inc generated $303.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $297.1k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
COMMUNITY CENTER FOR INDUSTRIAL ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDUSTRIAL ARTS CLASSES - STUDENTS PARTICIPATED IN LEARNING METAL CRAFT AND WOODWORKING SKILLS.
FEES FOR STUDIO USE - SPACE AND EQUIPMENT RENTALS ARE AVAILABLE TO MEMBERS WANTING TO UTILIZE OUR EQUIPMENT WITHOUT HAVING TO INVEST IN OR ESTABLISH THEIR OWN LOCATION OF OPERATIONS OR EQUIPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Knight Treasurer | OfficerTrustee | 20 | $0 |
David Nicolay President | OfficerTrustee | 4 | $0 |
Julie Schmidt Secretary | OfficerTrustee | 1 | $0 |
Pam Blondin Director | Trustee | 1 | $0 |
Mary Catherine Nicolay Director | Trustee | 1 | $0 |
Stephen Keene Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $34,330 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,631 |
| Noncash contributions included in lines 1a–1f | $1,700 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,961 |
| Total Program Service Revenue | $232,107 |
| Investment income | $1,479 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$181 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,366 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,294 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,030 |
| Advertising and promotion | $300 |
| Office expenses | $839 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,732 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,531 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,513 |
| Insurance | $8,726 |
| All other expenses | $13,072 |
| Total functional expenses | $297,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $122,076 |
| Savings and temporary cash investments | $106,044 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $68,425 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,517 |
| Total assets | $314,062 |
| Accounts payable and accrued expenses | $0 |
| 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 | $36,731 |
| Other liabilities | $6,576 |
| Total liabilities | $43,307 |
| Net assets without donor restrictions | $270,755 |
| Net assets with donor restrictions | $0 |
| 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 | $314,062 |