MIDLAND SHARED SPACES INC

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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

2012

Legal Domicile

Principal Officer

AUTUMN VEST

Phone

4326850400

Tax Period

2024-01-01 to 2024-12-31

MIDLAND SHARED SPACES INC, founded in 2012, is a community nonprofit in the Community Improvement sector that reported $1.2M in total revenue in fiscal year 2024. Net assets of $7.7M represent 75 months of operating reserves.

Mission

MIDLAND SHARED SPACES ENHANCES NONPROFIT EFFICIENCY, PROVIDES AFFORDABLE WORKSPACE AND BACK OFFICE SERVICES AND FOSTERS COLLABORATIONS THAT BETTER SERVE THE NONPROFITS AND PEOPLE OF MIDLAND COUNTY.

Program Service Accomplishments

Program 1

Expenses: $979,952

MIDLAND SHARED SPACES, INC. PROVIDES NONPROFIT ORGANIZATIONS IN MIDLAND COUNTY, TEXAS WITH MISSION-CRITICAL INFRASTRUCTURE, INCLUDING ADMINISTRATIVE OFFICES IN A CLASS A FACILITY AT A DISCOUNTED...

MIDLAND SHARED SPACES, INC. PROVIDES NONPROFIT ORGANIZATIONS IN MIDLAND COUNTY, TEXAS WITH MISSION-CRITICAL INFRASTRUCTURE, INCLUDING ADMINISTRATIVE OFFICES IN A CLASS A FACILITY AT A DISCOUNTED RATE. THE ORGANIZATION ALSO OFFERS SHARED SERVICES SUCH AS IT HARDWARE, NETWORK MANAGEMENT AND DEDICATED SUPPORT TO TENANT AGENCIES AND SELECT NONPROFITS OUTSIDE THE FACILITY. BY FOSTERING COLLABORATION AND SHARED RESOURCES, MIDLAND SHARED SPACES ENHANCES NONPROFIT EFFICIENCY AND SUSTAINABILITY.ANY annual deficit primarily REFLECTS non-cash depreciation, AND reserveS ARE MAINTAINED FOR facility UPKEEP and capital needs.

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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 (2024)

Revenue Breakdown

Contributions & Grants $662,805

Program Service Revenue $565,392

Investment Income $33,504

Other Revenue $-26,678

TOTAL REVENUE $1,235,023

Expense Breakdown

Grants Paid $0

Salaries & Benefits $658,387

Fundraising Expenses $31,819

Program Expenses $979,952

Other Expenses $695,001

TOTAL EXPENSES $1,353,388

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,235,023	$1,296,087	0.0%
Expenses	$1,353,388	$1,475,246	-0.1%
Net Income	$-118,365	$-179,159	-0.3%

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

$192,308

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AUTUMN VEST	EXECUTIVE DIR.	40.00	Officer	$121,200	$0	$121,200
GARY HIRES	IT DIRECTOR	40.00		$114,875	$0	$114,875
MARC KONDRUP	OPERATIONS DIR.	40.00	Officer	$71,108	$0	$71,108
CORY RICHARDSON	Director	1.00	Director	$0	$0	$0
JOSEPH RAY HUGHES II	IMMED PAST PRES	1.00	Officer Director	$0	$0	$0
ELISE KAIL	Director	1.00	Director	$0	$0	$0
DAVID POOLE	Treasurer	1.00	Officer Director	$0	$0	$0
KRYSTA HADLOCK	Secretary	1.00	Officer Director	$0	$0	$0
ADAM HERNANDEZ	Director	1.00	Director	$0	$0	$0
DAVID MEEK	Director	1.00	Director	$0	$0	$0
MEGHAN BERRY	Director	1.00	Director	$0	$0	$0
SUSANA NEALE	PRESIDENT ELECT	1.00	Officer Director	$0	$0	$0
MARCEL CAMPOS	Director	1.00	Director	$0	$0	$0
LAURYN HENDRIX	President	1.00	Officer Director	$0	$0	$0
ALEX HALE	Director	1.00	Director	$0	$0	$0
KOBY WEST	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
2024	$1,235,023	$1,353,388	$7,747,984	$-118,365
2023	$1,296,087	$1,475,246	$7,973,029	$-179,159
2022	$981,926	$2,425,070	$8,019,333	$-1,443,144
2021	$2,388,915	$1,400,860	$9,432,779	$988,055
2020	$1,034,530	$1,113,713	$8,438,656	$-79,183
2019	$872,873	$1,125,285	$8,519,983	$-252,412
2018	$865,572	$1,107,537	$8,777,623	$-241,965