Garrett's Space EIN 83-2751753 Form 990 (PDF) Claim this org

Garrett's Space

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Supports young adults with mental health challenges through residential care and community resources. For fiscal year 2024 it reported $2.6M in revenue, $413K in expenses, and $8.0M in net assets.Pt I

Type
Public charity (501(c)(3)) · Mental Health
Location
Ann Arbor, MI
Website
www.garrettsspace.org
Filings
5 on file (2020–2024)
Revenue
$2.6MFY2024
Expenses
$413K
Net assets
$8.0M
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  83-2751753 Public charity (501(c)(3)) Ann Arbor, MI
Form 990 (PDF)
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Figures match the IRS filing checked 9/1/26 · see original: IRS
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Size
$1–10M
What they do
Supports young adults with mental health challenges through residential care and community resources.
Leadership
Scott Halpert · President/CEO
Money in and out
$2.6M revenue, $413K expenses
Bottom line
35% program efficiency
Where the money goes · FY2024
Total revenue
$2.6M
Pt VIII · Ln 12
Total expenses
$413K
Pt IX · Ln 25
Net assets
$8.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2.2M
Where spending went · Part IX cols B–D
Program services $0.35 Management & general $0.45 Fundraising $0.21
Program efficiency
35%
of spending reaches programs▼ -15% vs prior filing year
Operating runway
166.6mo
months of highly liquid reserves at operating expense rate▲ +213% vs prior filing year
Surplus margin
+84%
revenue over expenses, this year▼ -10% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$2.6M
FY2024▼ -46%
Expenses
$413K
FY2024▲ +40%
Total assets
$10.6M
FY2024▲ +24%
Total liabilities
$2.6M
FY2024▼ -7%
Total revenue
$2.6M
Pt VIII · Ln 12
Total expenses
$413K
Pt IX · Ln 25
Net assets
$8.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$2.2M
Total assetsPt X · Ln 16$10.6M
Program-expense ratioPt IX · col B35%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGarrett's Space
EINHdr · item D83-2751753
Principal addressHdr · item CAnn Arbor, MI
WebsiteHdr · item Jwww.garrettsspace.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMental Health (F11)
Ruling yearIRS BMFMay 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b9
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
President/CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President/Secretary
$0Pt VII · Sec A
CFO/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $143K of program spending, described in the organization's own filed words · FY2024.
01

Garrett's space provides wellness programming for struggling young adults (ages 18-28) to support them, give them a safe space to share vulnerabilities and challenges with other young audlts who get what they're going through and give them perspective and HOPE.GARRETT'S space provides wellness groups three days a week to help young…

$143Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$2.5M · 95%
Investment income$144K · 6%
Contributions & grants95%$2.5M
Investment income6%$144K
— government grantsLn 1e$521K
Total revenueLn 12$2.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.35 Management & general $0.45 Fundraising $0.21
Program services35%$143K
Management & general45%$185K
Fundraising21%$86K
Total functional expensesLn 25$413K

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$10.6M
Total liabilitiesLn 26$2.6M
Total net assetsLn 32$8.0M
Months of cash on handcomputed33.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.7M · Operating expenses/yr $413K
166.6 months
Where the money goes
Program services
Program services $143K · Total expenses $413K
35%
Management & General
Management & general $185K · Total expenses $413K
45%
Fundraising
Fundraising $86K · Total expenses $413K
21%
Cost to raise $1
Fundraising expense (3-yr avg) $68K · Solicited contributions (3-yr avg) $2.2M
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2.5M · Total revenue $2.6M
95%
Government reliance
Government grants $521K · Total revenue $2.6M
20%
Earned-income share
Program service revenue $0 · Total revenue $2.6M
0%
Investment reliance
Investment income $144K · Total revenue $2.6M
+6%
Program self-sufficiency
Program service revenue $0 · Total expenses $413K
0%
Growth & trend
Revenue growth (YoY)
This year $2.6M · Prior year $4.8M
-46%
Revenue CAGR
FY2020 $391K · FY2024 $2.6M
+61%
Net-asset trend (YoY)
End of year $8.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.6M · Expenses $413K
+84%
Liabilities-to-Assets
Total liabilities — · Total assets $10.6M
Net-asset ratio
Net assets $8.0M · Total assets $10.6M
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $4.6M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $10.6M
43%
People & payroll
Highest Reported Total Compensation
Individual Scott Halpert · Reported title PRESIDENT/CEO · Highest reported compensation $0 · Total expenses $413K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $149K · Total expenses $413K
36%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 35%
Overhead ratio 45%
Fundraising cost ratio 3%
Revenue growth -46%
Investment management fee ratio 0.09%
Accounting fee ratio 8%

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 · FY2025
Total grants receivedfrom 1 funder$400

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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
FY2024 (Latest)$2.6M revenue · viewing · ⤓ 990 PDF
FY2023$4.8M revenue · ⤓ 990 PDF
FY2022$793K revenue · ⤓ 990 PDF
FY2021$230K revenue · ⤓ 990 PDF
FY2020$391K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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