SPACEWORKS NYC INC (EIN 460633792) - Form 990 Financial Analysis & Trantor Score

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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

GARY HATTEM

Phone

6463914729

Tax Period

2019-07-01 to 2020-06-30

SPACEWORKS NYC INC, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $269K in total revenue in fiscal year 2019. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $2.1M exceeded revenue, resulting in a 675% operating deficit.

Mission

EXPANDING THE SUPPLY OF LONG-TERM, AFFORDABLE REHEARSAL/STUDIO SPACE FOR ARTISTS IN NYC

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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 (2019)

Revenue Breakdown

Contributions & Grants $90,806

Program Service Revenue $178,377

Investment Income $67

Other Revenue $0

TOTAL REVENUE $269,250

Expense Breakdown

Grants Paid $0

Salaries & Benefits $606,822

Fundraising Expenses $67,918

Program Expenses $876,439

Other Expenses $1,480,725

TOTAL EXPENSES $2,087,547

Year-over-Year Comparison

	2019	2018	Change
Revenue	$269,250	$1,060,516	-0.7%
Expenses	$2,087,547	$1,821,230	+0.1%
Net Income	$-1,818,297	$-760,714	+1.4%

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

$171,860

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID KOREN	CHAIR	1.00	Officer Director	$0	$0	$0
KIMBERLY HOLDEN	FORMER VICE CHAIR	1.00	Officer Director	$0	$0	$0
GARY HATTEM	TREASURER	1.00	Officer Director	$0	$0	$0
XAVIERA SIMMONS	SECRETARY	1.00	Officer Director	$0	$0	$0
JOE DANIELS	DIRECTOR	1.00	Director	$0	$0	$0
TERRY FASSBURG	DIRECTOR	1.00	Director	$0	$0	$0
CAROL FINK	DIRECTOR	1.00	Director	$0	$0	$0
JOSHUA SIREFMAN	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW URIARTE	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA WASSERSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
ANISHA STEEPHEN	INTERIM EXECUTIVE DIRECTOR	40.00	Officer	$101,978	$15,359	$117,337
RISA SHOUP	EXECUTIVE DIRECTOR (FORMER)	1.00	Officer	$45,381	$9,142	$54,523

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
2020	$269,250	$2,087,547	$311,147	$-1,818,297
2019	$1,060,516	$1,821,230	$1,945,699	$-760,714
2018	$3,466,101	$1,332,122	$2,775,132	$2,133,979

SPACEWORKS NYC INC