Spaceworks Nyc Inc
- Assets
- $311.1k
- Revenue
- $269.3k
- Investments
- $0.0
- Employees
- 12
- Location
- New York, NY
- Founding
- 02/2014
- Data as of
- 06/2020
- EIN
- 46-0633792
Organization Overview
Spaceworks Nyc Inc is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2020, Spaceworks Nyc Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spaceworks Nyc 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 06/2020, Spaceworks Nyc Inc generated $269.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.4%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EXPANDING THE SUPPLY OF LONG-TERM, AFFORDABLE REHEARSAL/STUDIO SPACE FOR ARTISTS IN NYC
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPACEWORKS NYC, INC. ("SPACEWORKS") DEVELOPS PROJECTS IN NEW YORK CITY WITH THE AIM OF CREATING AFFORDABLE SPACE FOR ARTISTS. SPACEWORKS MAINTAINS STUDIO AND REHEARSAL SPACES IN LONG ISLAND CITY AND WILLIAMSBURG, AND A PORTION OF ITS OFFICES IN GOWANUS ARE DEVOTED TO VISUAL ART STUDIOS AND CO-WORKING SPACES. SPACEWORKS CONTINUES TO WORK WITH THE BROOKLYN PUBLIC LIBRARY AND THE TRUST FOR GOVERNORS ISLAND ON THE DEVELOPMENT OF ADDITIONAL PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anisha Steephen Interim Executive Director | Officer | 40 | $101,978 |
Risa Shoup Executive Director (former) | Officer | 1 | $45,381 |
Kimberly Holden Former Vice Chair | OfficerTrustee | 1 | $0 |
Xaviera Simmons Secretary | OfficerTrustee | 1 | $0 |
David Koren Chair | OfficerTrustee | 1 | $0 |
Gary Hattem Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,806 |
| Investment income | $67 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $269,250 |
| Statement of Expenses | |
|---|---|
| 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. | $143,870 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $355,768 |
| Pension plan accruals and contributions | $18,462 |
| Other employee benefits | $51,647 |
| Payroll taxes | $37,075 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $56,411 |
| Fees for services: Accounting | $15,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $84,940 |
| Advertising and promotion | $4,491 |
| Office expenses | $45,262 |
| Information technology | $15,057 |
| Royalties | $0 |
| Occupancy | $199,527 |
| Travel | $2,279 |
| 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 | $28,080 |
| Insurance | $29,392 |
| All other expenses | $0 |
| Total functional expenses | $2,087,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,063 |
| Savings and temporary cash investments | $253,485 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,584 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,015 |
| Total assets | $311,147 |
| Accounts payable and accrued expenses | $278,268 |
| 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 | $40,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $318,268 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$7,121 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Spaceworks Nyc Inc has recieved totaling $20,200.
| Awarding Organization | Amount |
|---|---|
Dance Service New York City Inc New York, NY PURPOSE: FOR DISABILITY.DANCE.ARTISTRY REGRANT FUND GRANT RECIPIENTS | $5,050 |
Dance Service New York City Inc New York, NY PURPOSE: FOR DISABILITY.DANCE.ARTISTRY REGRANT FUND GRANT RECIPIENTS | $5,050 |
Dance Service New York City Inc New York, NY PURPOSE: FOR DISABILITY.DANCE.ARTISTRY REGRANT FUND GRANT RECIPIENTS | $5,050 |
Dance Service New York City Inc New York, NY PURPOSE: FOR DISABILITY.DANCE.ARTISTRY REGRANT FUND GRANT RECIPIENTS | $5,050 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lower Manhattan Cultural Council Inc New York, NY | $12,296,474 | $4,161,213 |
Vermont Council On The Arts Inc Montpelier, VT | $1,668,560 | $4,418,731 |
Cny Arts Inc Syracuse, NY | $3,639,990 | $4,131,478 |
Artswestchester Inc White Plains, NY | $12,989,925 | $5,051,265 |
Brooklyn Arts Council Brooklyn, NY | $3,792,186 | $4,166,214 |
The Council For Canadian American Relations Inc New York, NY | $2,490,659 | $3,178,474 |
Newark Arts Council Newark, NJ | $1,947,360 | $2,660,381 |
Greater Philadelphia Cultural Alliance Philadelphia, PA | $2,137,622 | $2,196,078 |
Spaceworks Nyc Inc New York, NY | $311,147 | $269,250 |
Bronx Council On The Arts Inc Bronx, NY | $7,969,070 | $2,295,657 |
Dance Service New York City Inc New York, NY | $6,304,489 | $5,030,876 |
Flushing Council On Culture And The Arts Inc Flushing, NY | $1,674,385 | $1,969,249 |