Elm Ave Coworking

Nonprofit profile at a glance

EIN
842505013
IRS 990-EZ coverage
2021–2024
Forms available
Form 990-EZ 2024
Location
Monroe, MI, USA
Phone
7342101726
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Reported finances

Revenue
$139,862
Expenses
$143,635
Assets
$50,973
Liabilities
$14,825

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Nolan Beamsley (President)
  • John Hile (Vice President)

People named in this filing

  • Nolan Beamsley (President)
  • Jeff Beamsley (Treasurer)
  • John Hile (Vice President)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Elm Ave. Coworking's primary exempt purpose is to create new business opportunities and infrastructure, train and mentor those interested in acquiring high demand skills, and better the community in Monroe County, MI with particular focus on the underserved, under employed, and unemployed.

What it reported doing in 2024

Implemented ARPA Grant funded Digital Literacy grant for an underserved community in Monroe, MI.Continued servicing senior and at risk teens. Hired three instructors. Held 6 class sessions with a total of 47 classes and an average of 10 students per class. Each class was between 60 and 90 minutes. Seniors continued to make progress using all of their digital devices to shop online, use social media to communicate with their friends and family, edit and upload pictures, make and upload videos, and create gifts and clothing using digital designs of their own creation. They were proud to wear their creations to class, around town, and to community events. Teens used digital design tools, made their own clothing, edited photos, created music, and wrote their own stories . In addition to the ARPA grant from Monroe County ($29105.01), the Arthur Lesow Community Center provides space for classes valued at $7191 for 2024.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 100
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.6%; rating input score 30
  • Program expense ratio: 28.5%; rating input score 28

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -2.7%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.35; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 15.3% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 25.2% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 29.6% of revenue deployed · 28.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 4 filed program accomplishments · $41K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • High — Financial Efficiency: Program expense ratio scored 28/100.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.