Shopspace INC EIN 47-1824082

Shopspace INC

EIN  47-1824082 Public charity (501(c)(3)) Raleigh, NC Founded 2017
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Teaches practical skills in trades and crafts to build community.
Leadership
William Knight · Treasurer and Founder
Money in and out
$418K revenue, $414K expenses
Bottom line
97% program efficiency

Teaches practical skills in trades and crafts to build community. For fiscal year 2025 it reported $418K in revenue, $414K in expenses, and $303K in net assets.Pt I

Where the money goes · FY2025
Total revenue
$418K
Pt VIII · Ln 12
Total expenses
$414K
Pt IX · Ln 25
Net assets
$303K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4K
Where spending went · Part IX cols B–D
Program services $0.97 Management & general $0.03
Program efficiency
97%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
8.1mo
months of highly liquid reserves at operating expense rate▼ -6% vs prior filing year
Surplus margin
+1%
revenue over expenses, this year▼ -86% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$418K
FY2025▲ +9%
Expenses
$414K
FY2025▲ +17%
Total assets
$351K
FY2025▲ +2%
Total liabilities
$48K
FY2025▲ +7%
Total revenue
$418K
Pt VIII · Ln 12
Total expenses
$414K
Pt IX · Ln 25
Net assets
$303K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4K
Total assetsPt X · Ln 16$351K
Program-expense ratioPt IX · col B97%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

2 program services account for $403K of program spending, described in the organization's own filed words · FY2025.
01

Industrial Arts Classes

Students participated in learning metal craft and woodworking skills.

$403Kprogram expense
02

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.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CShopspace INC
EINHdr · item D47-1824082
Principal addressHdr · item CRaleigh, NC
WebsiteHdr · item Jwww.shopspace.org
Year of formationHdr · item L2017
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A25)
Ruling yearIRS BMFAug 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Treasurer and Founder
$0Pt VII · Sec A
President and Founder
$0Pt VII · Sec A
Secretary to 7/31/2025
$0Pt VII · Sec A
Director and Founder
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$265K · 63%
Contributions & grants$153K · 36%
Program service revenue63%$265K
Contributions & grants36%$153K
Investment income$1K
— government grantsLn 1e$12K
Total revenueLn 12$418K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.97 Management & general $0.03
Program services97%$403K
Management & general3%$11K
Total functional expensesLn 25$414K

Balance Sheet

Part X · end of year
CashLn 1$279K
Total assetsLn 16$351K
Total liabilitiesLn 26$48K
Total net assetsLn 32$303K
Months of cash on handcomputed8.1

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $279K · Operating expenses/yr $414K
8.1 months
Where the money goes
Program services
Program services $403K · Total expenses $414K
97%
Management & General
Management & general $11K · Total expenses $414K
3%
Fundraising
Fundraising $0 · Total expenses $414K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $101K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $153K · Total revenue $418K
36%
Government reliance
Government grants $12K · Total revenue $418K
3%
Earned-income share
Program service revenue $265K · Total revenue $418K
63%
Investment reliance
Investment income $1K · Total revenue $418K
0%
Program self-sufficiency
Program service revenue $265K · Total expenses $414K
64%
Growth & trend
Revenue growth (YoY)
This year $418K · Prior year $383K
+9%
Revenue CAGR
FY2020 $121K · FY2025 $418K
+28%
Net-asset trend (YoY)
End of year $303K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $418K · Expenses $414K
+1%
Liabilities-to-Assets
Total liabilities — · Total assets $351K
Net-asset ratio
Net assets $303K · Total assets $351K
86%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $351K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual William Knight · Reported title TREASURER AND FOUNDER · Highest reported compensation $0 · Total expenses $414K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $157K · Total expenses $414K
38%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 97%
Overhead ratio 3%
Revenue growth 9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$30K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$418K revenue · viewing · ⤓ 990 PDF
FY2024$383K revenue · ⤓ 990 PDF
FY2023$303K revenue · ⤓ 990 PDF
FY2022$288K revenue · ⤓ 990 PDF
FY2021$229K revenue · ⤓ 990 PDF
FY2020$121K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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