SPACES

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1978

Legal Domicile

Principal Officer

PITA BROOKS

Phone

2166212314

Tax Period

2025-01-01 to 2025-12-31

SPACES, founded in 1978, is a small nonprofit in the Arts, Culture & Humanities sector that reported $652K in total revenue in fiscal year 2025. Revenue surged 659% from the prior year, signaling strong growth momentum. Expenses of $601K left a modest 8% surplus.

Mission

SPACES IS FOR THE ADVANCEMENT OF PUBLIC INTEREST AND PARTICIPATION IN THE VISUAL PERFORMING AND FINE ARTS BY PROVIDING A RESOURCE AND PUBLIC FORUM FOR ARTISTS TO EXPLORE AND EXPERIMENT.

Program Service Accomplishments

Program 1

Expenses: $479,716

IN 2025, SPACES ADVANCED ITS MISSION AS A COMMISSIONING ORGANIZATION AND PUBLIC FORUM FOR EXPERIMENTAL ART BY SUPPORTING 60 CULTURAL PRODUCERS THROUGH EXHIBITIONS, RESIDENCIES, GRANTS, AND...

IN 2025, SPACES ADVANCED ITS MISSION AS A COMMISSIONING ORGANIZATION AND PUBLIC FORUM FOR EXPERIMENTAL ART BY SUPPORTING 60 CULTURAL PRODUCERS THROUGH EXHIBITIONS, RESIDENCIES, GRANTS, AND EMPLOYMENT, AND ENGAGING OVER 3,100 PARTICIPANTS ACROSS ON-SITE, OFF-SITE, AND PUBLIC PROGRAMS. THROUGH ITS RESIDENCY AND EXHIBITION MODEL, ARTISTS WERE INVITED TO CLEVELAND TO DEVELOP AMBITIOUS, RESEARCH-DRIVEN WORK RESPONSIVE TO URGENT SOCIAL, CULTURAL, AND ENVIRONMENTAL ISSUES. SPACES PRESENTED THREE EXHIBITIONS, HOSTED AN ARTIST-IN-RESIDENCE, AND PRODUCED 19 PUBLIC PROGRAMS, ALONGSIDE EIGHT SATELLITE FUND-SUPPORTED PROJECTS THAT EXTENDED INTO THE COMMUNITY. THE ORGANIZATION ALSO PUBLISHED THE EVERLASTING PLASTICS CATALOGUE, FURTHER EXPANDING THE REACH OF ITS PROGRAMMING BEYOND THE GALLERY. SPACES CONTINUED TO PROVIDE CRITICAL RESOURCES RARELY ACCESSIBLE OUTSIDE MAJOR INSTITUTIONS THROUGH ITS REGRANTING, RESIDENCY, AND EXHIBITION PROGRAMS, SUPPORTING THE CREATION OF NEW, PUBLICLY ENGAGED WORK. ACROSS ALL PROGRAMS, SPACES EMPHASIZED ARTIST COMPENSATION, ACCESS TO SPACE AND TOOLS, AND OPPORTUNITIES FOR PUBLIC DIALOGUE. BY INTEGRATING EXHIBITIONS WITH AUDIENCE-CENTERED PROGRAMMING-ON-SITE, OFF-SITE, AND DIGITAL-SPACES FOSTERED A DEEPER UNDERSTANDING OF CONTEMPORARY ART AND ITS CIVIC VALUE, STRENGTHENING CLEVELAND'S CULTURAL ECOSYSTEM WHILE CONTRIBUTING TO CONVERSATIONS AT A NATIONAL AND INTERNATIONAL LEVEL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $648,938

Program Service Revenue $0

Investment Income $2,199

Other Revenue $494

TOTAL REVENUE $651,631

Expense Breakdown

Grants Paid $51,500

Salaries & Benefits $161,463

Fundraising Expenses $43,768

Program Expenses $479,716

Other Expenses $388,046

TOTAL EXPENSES $601,009

Year-over-Year Comparison

	2025	2024	Change
Revenue	$651,631	$85,801	+6.6%
Expenses	$601,009	$667,168	-0.1%
Net Income	$50,622	$-581,367	-1.1%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$72,962

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PITA BROOKS	EXECUTIVE DI	40.00	Officer	$57,077	$0	$57,077
FANNA GEBREYESUS	FRMR EXEC DI	40.00	Officer	$15,885	$0	$15,885
DOLORES GARCIA	PRESIDENT	2.00	Officer Director	$0	$0	$0
ELLEN RUDOLPH	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
DAVID TARDITI	TREASURER	2.00	Officer Director	$0	$0	$0
ANNA ARNOLD	DIRECTOR	1.00	Director	$0	$0	$0
SAM HUBISH	DIRECTOR	1.00	Director	$0	$0	$0
TRICIA KACHMYERS	DIRECTOR	1.00	Director	$0	$0	$0
LISA KURZNER	DIRECTOR	1.00	Director	$0	$0	$0
ANGELICA POZO	DIRECTOR	1.00	Director	$0	$0	$0
MARIBEL PUMAREJO	DIRECTOR	1.00	Director	$0	$0	$0
DANTE RODRIGUEZ	DIRECTOR	1.00	Director	$0	$0	$0
PRIYANKA DARINA SEHGAL	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$651,631	$601,009	$2,080,982	$50,622
2024	$85,801	$667,168	$2,100,382	$-581,367
2023	$2,070,217	$1,710,760	$2,778,010	$359,457
2022	$694,176	$726,519	$2,423,709	$-32,343
2021	$477,335	$576,182	$2,479,985	$-98,847
2020	$716,362	$635,896	$2,647,001	$80,466