PROJECT FOR EMPTY SPACE INC

EIN: 465377697 501(c)(3) Arts, Culture & Humanities

NEWARK, NJ

Total Revenue
$1,681,951
Total Expenses
$1,969,369
Total Assets
$2,695,655
Net Assets
$85,527
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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
2016
Legal Domicile
NJ
Principal Officer
JASMINE WAHI
Phone
3013518397
Tax Period
2024-01-01 to 2024-12-31

PROJECT FOR EMPTY SPACE INC, founded in 2016, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. Expenses of $2.0M exceeded revenue, resulting in a 17% operating deficit.

Mission

TO CREATE SOCIALLY ENGAGING, MULTIDISCIPLINARY ART EXHIBITIONS AND PROGRAMMING THAT ENCOURAGE SOCIAL DIALOGUE, EDUCATION, AND SYSTEMATIC CHANGE FOR CULTURAL TOLERANCE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,404,669
Program Service Revenue $275,956
Investment Income $18,969
Other Revenue $-17,643
TOTAL REVENUE $1,681,951

Expense Breakdown

Grants Paid $26,250
Salaries & Benefits $609,637
Fundraising Expenses $226,446
Program Expenses $1,345,495
Other Expenses $1,333,482
TOTAL EXPENSES $1,969,369

Year-over-Year Comparison

2024 2023 Change
Revenue $1,681,951 $1,014,908 +0.7%
Expenses $1,969,369 $1,718,889 +0.1%
Net Income $-287,418 $-703,981 -0.6%
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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Governance

Voting Members
11
Independent Members
11
Employees
6
Volunteers
10

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
4
$145,000
Total Directors
11
$289,977
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JASMINE WAHI CO-DIRECTOR/PRESIDENT 40.00
Officer Director
$145,000 $0 $145,000
REBECCA JAMPOL CO-DIRECTOR/MEMBER 40.00
Director
$143,177 $0 $143,177
AMY GOLDRICH MEMBER 0.00
Director
$1,800 $0 $1,800
CAT DAWSON CHAIR 0.00
Officer Director
$0 $0 $0
MELISSA OSTERWIND TREASURER 0.00
Officer Director
$0 $0 $0
LINDA MORGAN SECRETARY 0.00
Officer Director
$0 $0 $0
LEWIS LONG MEMBER 0.00
Director
$0 $0 $0
TIANA WEBB EVANS MEMBER 0.00
Director
$0 $0 $0
MICHI JIGARJIAN MEMBER 0.00
Director
$0 $0 $0
DAVID ANTONIO CRUZ MEMBER 0.00
Director
$0 $0 $0
NICK KLEIN MEMBER 0.00
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 $1,681,951 $1,969,369 $2,695,655 $-287,418
2023 $1,014,908 $1,718,889 $1,881,562 $-703,981
2023 $4,427,583 $1,771,248 $2,484,606 $2,656,335
2022 $988,272 $1,132,731 $1,174,252 $-144,459
2022 $846,614 $1,180,281 $1,427,754 $-333,667
2021 $595,038 $843,680 $168,711 $-248,642
2020 $414,497 $543,459 $87,208 $-128,962
2018 $348,225 $138,223 $220,124 $210,002
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