Midland Shared Spaces Inc

Nonprofit profile at a glance

EIN
454737063
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Midland, TX, USA
Phone
4326850400
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$1,235,023
Expenses
$1,353,388
Assets
$7,747,984
Liabilities
$53,518

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

Leadership & pay

16 people listed

Executive titles in this filing

  • SUSANA NEALE (PRESIDENT ELECT)
  • LAURYN HENDRIX (President)

Highest reported compensation

  • AUTUMN VEST (EXECUTIVE DIR.): $121,200 total reported compensation
  • GARY HIRES (IT DIRECTOR): $114,875 total reported compensation
  • MARC KONDRUP (OPERATIONS DIR.): $71,108 total reported compensation

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

Overview

Mission

Midland shared spaces enhances nonprofit efficiency, provides affordable workspace and back office services and fosters collaborations that better serve the nonprofits and people of midland county.

What it reported doing in 2024

Midland shared spaces, inc. Provides nonprofit organizations in midland county, Texas with mission-critical infrastructure, including administrative offices in a class a facility at a discounted rate. The organization also offers shared services such as it hardware, network management and dedicated support to tenant agencies and select nonprofits outside the facility. By fostering collaboration and shared resources, midland shared spaces enhances nonprofit efficiency and sustainability.any annual deficit primarily reflects non-cash depreciation, and reserves are maintained for facility upkeep and capital needs.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 43
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 72.4%; rating input score 72
  • Fundraising efficiency: $20.83 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -9.6%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 5.72; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 22.7%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: -13.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -3.1% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 72.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $980K in reported program spending
  • Leadership: top reported pay $121K · 16 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.