Vector Space
- Assets
- $474.1k
- Revenue
- $452.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Lynchburg, VA
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 47-3633116
Organization Overview
Vector Space is located in Lynchburg, VA. The organization was established in 2017. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Vector Space employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vector Space 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 12/2022, Vector Space generated $452.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 29.4% each year . All expenses for the organization totaled $206.2k during the year ending 12/2022. While expenses have increased by 12.3% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD AN OPEN AND COLLABORATIVE COMMUNITY THAT FOSTERS INNOVATION, CREATIVITY, AND THE PURSUIT OF SCIENCE BASED KNOWLEDGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT PROJECTS AND WORKSHOPS: IN-DEPTH PROJECTS PROVIDE HANDS-ON LEARNING EXPERIENCES FOR TEENS COACHED BY PROFESSIONALS IN STEM FIELDS. EACH PROJECT IS 25-40 HOURS IN LENGTH AND CULMINATES IN A FINISHED PROJECT, PUBLIC EVENT, OR PERFORMANCE. WORKSHOPS PROVIDE TEEN AND ADULT STUDENTS WITH SKILLS-BASED LEARNING. WORKSHOPS RANGE FROM 3-8 HOURS AND AVERAGE FOUR STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elise Spontarelli Executive Director | Officer | 40 | $20,041 |
Adam Spontarelli Director Of Education | OfficerTrustee | 40 | $19,500 |
Bob Bailey Board Chair | OfficerTrustee | 1 | $0 |
Rayfurd Thompson Treasurer | OfficerTrustee | 1 | $0 |
Bethanie Mickles Recording Secretary | OfficerTrustee | 1 | $0 |
Michelline Hall Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $108,661 |
| Fundraising events | $10,000 |
| Related organizations | $0 |
| Government grants | $28,830 |
| All other contributions, gifts, grants, and similar amounts not included above | $262,886 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $410,377 |
| Total Program Service Revenue | $32,764 |
| Investment income | $81 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,475 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $335 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,381 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $452,413 |
| 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. | $42,620 |
| Compensation of current officers, directors, key employees. | $25,572 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $403 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,650 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,305 |
| Advertising and promotion | $2,722 |
| Office expenses | $2,060 |
| Information technology | $1,958 |
| Royalties | $0 |
| Occupancy | $48,941 |
| Travel | $1,267 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,420 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,594 |
| Insurance | $2,730 |
| All other expenses | $6,748 |
| Total functional expenses | $206,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,143 |
| Savings and temporary cash investments | $314,168 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,138 |
| 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 | $74,675 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,000 |
| Total assets | $474,124 |
| 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 | $0 |
| Other liabilities | $651 |
| Total liabilities | $651 |
| Net assets without donor restrictions | $473,473 |
| 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 | $474,124 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Vector Space has recieved totaling $96,655.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: TO ASSIST WITH PURCHASE OF A BUILDING FOR LONG-TERM HOME | | $50,000 |
Andrew H Easley & Anne O Easley Trust Lynchburg, VA PURPOSE: BUILDING ACQUISITION | $20,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,000 |
Watt Foster Family Foundation Brookneal, VA PURPOSE: OPERATIONAL EXPENSES | $5,000 |
David And Lyn Berelsman Family Charitable Foundation Trust Celebration, FL PURPOSE: FURTHERANCE OF CHARITABLE PURPOSES | $2,000 |
Watt Foster Family Foundation Brookneal, VA PURPOSE: OPERATIONAL EXPENSES | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Virginia Foundation For The Arts And Sciences Roanoke, VA | $23,731,412 | $2,202,426 |
American Association For Justice Education Fund Washington, DC | $921,629 | $1,985,189 |
Arts Education In Maryland Schools Alliance Inc Baltimore, MD | $710,664 | $736,640 |
Artpop Barium Springs, NC | $253,465 | $499,175 |
Augusta Ferry Authority Inc Augusta, KY | $165,919 | $419,126 |
Jamestowne Society Inc Williamsburg, VA | $2,335,020 | $779,787 |
Naral Pro Choice Maryland Fund Inc Baltimore, MD | $212,072 | $276,773 |
Riverviews Lynchburg, VA | $1,407,238 | $282,972 |
Jackson Art Center Washington, DC | $175,769 | $272,169 |
Vector Space Lynchburg, VA | $474,124 | $452,413 |
Side By Side Studio Louisville, KY | $86,058 | $0 |
Borderless Arts Tennessee Gallatin, TN | $237,207 | $128,929 |