The Space on Main

Nonprofit profile at a glance

EIN
815147221
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021, Form 990-T 2024, Form 990-N 2017
Location
Bradford, VT, USA
Phone
8024496246
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$204,732
Expenses
$131,628
Assets
$0
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Brynn Cole (President & CEO)
  • Samuel Drazin (President)
  • Samantha Sheehan (Vice President)

Highest reported compensation

  • Monique Priestley (Executive Dir.): $19,000 total reported compensation

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

Overview

Mission

It is the mission of The Space on Main Street to foster entrepreneurship, innovation, the arts, education, health, and recreation in order to increase opportunity for personal and collective growth in the Cohase region of Vermont and New Hampshire by providing a creative facility with access to affordable equipment, work spaces, and classes. It is our goal to ensure prosperity of our community by leveraging talent in the region by creating pathways to outside individuals, services, and technologies.

What it reported doing in 2024

Provided accessible workspace to the community of Bradford, VT, and other surrounding towns.

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 94% 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

MIXED - 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 voting board members are independent.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 83
  • Accountability: 0
  • Sustainability: 44
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.2%; rating input score 52
  • Program expense ratio: 67.7%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 35.7%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 14.4%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 26% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: -32.4% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 52.2% of revenue deployed · 67.7% of spending went to programs
  • Governance: 0 of 11 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $89K in reported program spending
  • Leadership: top reported pay $19K · 11 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.