SHOPSPACE 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

2017

Legal Domicile

Principal Officer

WILLIAM KNIGHT

Phone

9846643320

Tax Period

2024-01-01 to 2024-12-31

SHOPSPACE INC, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $383K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $354K left a modest 7% surplus.

Mission

COMMUNITY CENTER FOR INDUSTRIAL ARTS.

Program Service Accomplishments

Program 1

Expenses: $347,861 Revenue: $210,654

INDUSTRIAL ARTS CLASSES - STUDENTS PARTICIPATED IN LEARNING METAL CRAFT AND WOODWORKING SKILLS.

Program 2

Revenue: $62,344

FEES FOR STUDIO USE - SPACE AND EQUIPMENT RENTALS ARE AVAILABLE TO MEMBERS WANTING TO UTILIZE OUR EQUIPMENT WITHOUT HAVING TO INVEST IN OR ESTABLISH THEIR OWN LOCATION OF OPERATIONS OR EQUIPMENT.

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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 $104,427

Program Service Revenue $272,998

Investment Income $5,126

Other Revenue $0

TOTAL REVENUE $382,551

Expense Breakdown

Grants Paid $0

Salaries & Benefits $135,541

Fundraising Expenses $0

Program Expenses $347,861

Other Expenses $218,788

TOTAL EXPENSES $354,329

Year-over-Year Comparison

	2024	2023	Change
Revenue	$382,551	$303,366	+0.3%
Expenses	$354,329	$297,076	+0.2%
Net Income	$28,222	$6,290	+3.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM KNIGHT	TREASURER AND FOUNDER	20.00	Officer Director	$0	$0	$0
DAVID NICOLAY	PRESIDENT AND FOUNDER	4.00	Officer Director	$0	$0	$0
JULIE SCHMIDT	SECRETARY	1.00	Officer Director	$0	$0	$0
PAM BLONDIN	DIRECTOR TO 11/2024	1.00	Director	$0	$0	$0
MARY CATHERINE FLOYD NICOLAY	DIRECTOR AND FOUNDER	1.00	Director	$0	$0	$0
STEPHEN KEENE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL HOUSE	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT BEMIS	DIRECTOR	4.00	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	No data	No data	No data	No data
2024	$382,551	$354,329	$343,693	$28,222
2023	$303,366	$297,076	$314,062	$6,290
2022	$287,696	$276,972	$299,850	$10,724
2021	$228,804	$175,352	$288,841	$53,452