Spark Microgrants
- Assets
- $19.4m
- Revenue
- $10.3m
- Investments
- $0.0
- Employees
- 9
- Location
- New York, NY
- Founding
- 03/2012
- Data as of
- 12/2023
- EIN
- 45-2275630
Organization Overview
Spark Microgrants is located in New York, NY. The organization was established in 2012. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Spark Microgrants employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spark Microgrants is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Spark Microgrants generated $10.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 27.0% each year . All expenses for the organization totaled $7.7m during the year ending 12/2023. While expenses have increased by 25.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPARK BELIEVES IN THE COLLECTIVE POWER OF PEOPLE. YET TOO OFTEN, COMMUNITIES FACING POVERTY ARE SIDELINED BY THE VERY PROGRAMS MEANT TO UPLIFT THEM. SPARK UPDATES THE DEVELOPMENT MODEL, FROM PRESCRIPTIVE TO COMMUNITY-LED, SO THAT EVERY VILLAGE CAN DEFINE THEIR OWN FUTURE. SPARK'S KEY INNOVATION THE FACILITATED COLLECTIVE ACTION PROCESS, OR FCAP PAIRS A VILLAGE PLANNING PROCESS WITH A SEED GRANT TO FACILITATE COOPERATIVE SOLUTIONS TO POVERTY. RESEARCH SHOWS THAT THE FCAP RESULTS IN FAMILIES DOUBLING THE MEALS THEY EAT AND A SEVENFOLD INCREASE IN WOMEN ENGAGING IN LEADERSHIP ROLES. MORE THAN 80 PERCENT OF COMMUNITIES CREATE INCLUSIVE VILLAGE COUNCILS THAT LAST. SINCE 2010, SPARK HAS REACHED MORE THAN 500,000 PEOPLE IN EIGHT COUNTRIES, INCLUDING THROUGH ITS FLAGSHIP PROGRAM WITH THE GOVERNMENT OF RWANDA. OVER THE NEXT THREE YEARS, SPARK WILL ACCELERATE ITS IMPACT BY SCALING THE NATIONAL PROGRAM IN RWANDA AND EXPANDING TO TWO NEW COUNTRIES, PRODUCING NEW RESEARCH ON COMMUNITY-LED DEVELOPMENT, AND CURATING A GLOBAL COMMUNITY OF PRACTICE. TODAY, SPARK TRAINS PARTNER ORGANIZATIONS AND WORKS WITH GOVERNMENTS TO SCALE THE FCAP AS THE SYSTEM OF CHOICE TO ADVANCE SOCIAL AND ECONOMIC DEVELOPMENT, IMPROVE LIVES, AND SECURE LASTING CHANGE. SPARK HAS OFFICES IN KIGALI, KAMPALA, AND NEW YORK AND OPERATES IN SIX COUNTRIES IN EAST AND WEST AFRICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexandra Fisher Executive Director And Co-Founder | Officer | 50 | $187,265 |
Katherine Reynolds Director Of Learning & Sector Building | 40 | $125,307 | |
Michelle Lee Development Director | 40 | $119,697 | |
Lisa Jackson Chair - Until 06/2023 | OfficerTrustee | 2 | $0 |
Sam Bonsey Vice Chair | OfficerTrustee | 2 | $0 |
Jonathan Jackson Financial Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,183,963 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,183,963 |
| Total Program Service Revenue | $0 |
| Investment income | $96,757 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,287 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,336,960 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,935,293 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $199,002 |
| Compensation of current officers, directors, key employees. | $199,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,920,866 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $279,191 |
| Payroll taxes | $58,360 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,706 |
| Fees for services: Accounting | $70,562 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $16,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $371,093 |
| Advertising and promotion | $0 |
| Office expenses | $142,769 |
| Information technology | $16,518 |
| Royalties | $0 |
| Occupancy | $77,288 |
| Travel | $426,039 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,178 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,106 |
| Insurance | $6,348 |
| All other expenses | $0 |
| Total functional expenses | $7,702,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,699,061 |
| Savings and temporary cash investments | $1,490,520 |
| Pledges and grants receivable | $9,094,882 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,265 |
| Net Land, buildings, and equipment | $26,953 |
| Investments—publicly traded securities | $2,019,655 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,599 |
| Total assets | $19,394,935 |
| Accounts payable and accrued expenses | $1,804,076 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,804,076 |
| Net assets without donor restrictions | $17,590,859 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,394,935 |