3RD SPACE 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

2023

Legal Domicile

Principal Officer

DONNA BEDWELL

Phone

7576257849

Tax Period

2025-01-01 to 2025-12-31

3RD SPACE INC, founded in 2023, is a micro nonprofit in the Education sector that reported $11K in total revenue in fiscal year 2025. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $15K exceeded revenue, resulting in a 33% operating deficit.

Mission

THE ORGANIZATION IS DEDICATED TO PROVIDING ART EDUCATION AND SUPPORT TO THE COMMUNITY BY PROVIDING A WIDE RANGE OF SERVICES INCLUDING ART CLASSES, WORKSHOPS, EQUIPMENT & SUPPLIES, AND STUDIO SPACE FOR RENT. THE ORGANIZATION'S GOAL IS TO MAKE ART ACCESSIBLE TO ALL AND CREATING A SPACE FOR ARTISTIC CREATIVITY, EXPRESSION AND LEARNING.

Program Service Accomplishments

Program 1

Expenses: $13,608

2025 SAW A ROBUST YEAR OF WORKSHOPS. WORKSHOPS ARE HELD ON SITE AND IN ARTIST'S STUDIOS. 12 WORKSHOPS WERE HELD IN 2025. WORKSHOPS COVERED A WIDE VARIETY OF AREAS INCLUDING STAINED GLASS, BROOM...

2025 SAW A ROBUST YEAR OF WORKSHOPS. WORKSHOPS ARE HELD ON SITE AND IN ARTIST'S STUDIOS. 12 WORKSHOPS WERE HELD IN 2025. WORKSHOPS COVERED A WIDE VARIETY OF AREAS INCLUDING STAINED GLASS, BROOM MAKING, QUILTED BAGS (SEWING), BARN QUILT PAINTING (2 SESSIONS), POTTERY, PHOTOGRAPHY, BASKETS (2 SESSIONS), BLOCK PRINTING, WREATH MAKING, AND A YOUTH ART CAMP. A TOTAL OF 50 STUDENTS ATTENDED THE WORKSHOPS. FOR 2026, PLANS INCLUDE REPETITION OF THE MOST POPULAR CLASSES,(BASKETS, BARN QUILT PAINTING, BROOMS). THE GOAL IS TO INCREASE THE NUMBER OF WORKSHOPS TO 14 AND TO EXPAND THE DIVERSITY OF PROGRAMS TO INCLUDE NEW OFFERINGS IN FELTING, ECOPRINTING, TABLE LOOM WEAVING, WATER COLOR AND AN EXPANDED ART CAMP FOR YOUTH. PLANNING FOR A TOTAL OF 70 STUDENTS FOR 2026.

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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 $4,557

Program Service Revenue $6,880

Investment Income $0

Other Revenue $0

TOTAL REVENUE $11,437

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $13,608

Other Expenses $15,268

TOTAL EXPENSES $15,268

Year-over-Year Comparison

	2025	2024	Change
Revenue	$11,437	$31,270	-0.6%
Expenses	$15,268	$11,727	+0.3%
Net Income	$-3,831	$19,543	-1.2%

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

N/A

Volunteers

N/A

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
DONNA BEDWELL	PRESIDENT	N/A	Officer Director	$0	$0	$0
KAREN MILNES	DIRECTOR	N/A	Director	$0	$0	$0
POLLY NEWLON	DIRECTOR	N/A	Director	$0	$0	$0
CHARLES SAUNDERS	TREASURER	N/A	Officer Director	$0	$0	$0
KIM WOLFE	SECRETARY	N/A	Officer 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	$11,437	$15,268	$24,921	$-3,831
2023	$11,822	$2,613	$11,990	$9,209