Spark Makerspace Co
- Assets
- $490.4k
- Revenue
- $246.2k
- Investments
- $0.0
- Employees
- 0
- Location
- New London, CT
- Founding
- 07/2019
- Data as of
- 12/2021
- EIN
- 47-5056168
Organization Overview
Spark Makerspace Co is located in New London, CT. The organization was established in 2019. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spark Makerspace Co 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 12/2021, Spark Makerspace Co generated $246.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 27.8% each year . All expenses for the organization totaled $85.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO SUPPORT MAKING BY PROVIDING THE LOCATION, TOOLS, AND EQUIPMENT FOR PEOPLE TO PURSUE PROJECTS FACILITATING THE OPEN AND PRODUCTIVE EXCHANGE OF IDEAS AND ENGAGING IN COMMUNITY OUTREACH AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RELOCATION - IN JANUARY 2021, OUR RENTAL SPACE HAD WEATHER DAMAGE TO THE ROOF, CAUSING CEILINGS TO COLLAPSE INTO THE WORKSHOPS. AND THE TWO HEATING SYSTEMS STOPPED FUNCTIONING LEAVING THE SPACE UNSAFE AND UNINHABITABLE. NEITHER OF THESE BUILDING SITUATIONS WAS REPAIRED BY THE LANDLORD SO THAT SPARK COULD SAFELY REOPEN AND RESUME PROVIDING SERVICES TO THE COMMUNITY. SINCE WE COULD NOT GET THE LANDLORD TO FIX THESE ISSUES IN OUR LOCATION, THE BOARD OF DIRECTORS AND MEMBERS DECIDED TO FOCUS THEIR ENERGY AND RESOURCES ON CONTINUING VIRTUAL PROGRAMMING, THE VIRTUAL MEETUPS, AND LOOKING TO THE FUTURE IN RENOVATING OUR PREVIOUSLY PURCHASED UNION STREET BUILDING. HAVING A GOAL OF BUILDING A PERMANENT HOME FOR OPERATIONS, PROVIDING THE ABILITY TO DOUBLE SPARKS CAPACITY TO SERVE MORE PEOPLE IN THE CITY AND REGION, AND CONTRIBUTING TO THE REVITALIZATION OF A BLIGHTED SECTION OF NEW LONDON. THE OPENING DATE WAS DELAYED EIGHT MONTHS BY THE LINGERING EFFECTS OF COVID: FUNDING SOURCES CHANGING PRIORITIES, MULTIPLE DELAYS IN FUNDING DISTRIBUTION, AS WELL AS MATERIAL AND EQUIPMENT SHORTAGES. SPARK GRADUALLY OVERCAME THESE CHALLENGES WITH THE HELP OF SPONSORSHIPS, GRANTS, DONATIONS, AND COMMUNITY SUPPORT. A BRAND NEW ROOF, WINDOWS, AND HVAC WERE INSTALLED AS WELL AS INTERIOR RENOVATIONS. WHEN IT WAS SAFE TO GATHER IN-PERSON BEHIND MASKS, SPARK WORKED WITH THE LOCAL COMMUNITY OF VOLUNTEERS, AND PAINTED WALLS, CONSTRUCTED WORKSTATIONS, AND TAUGHT/SHARED THE NECESSARY SKILLS IN BUILDING OUR NEW HOME. OPERATIONS WILL RESUME IN LATE NOVEMBER 2021.
MEMBERSHIP & COMMUNITY - DUE TO THE PANDEMIC RESTRICTIONS AND RENTAL BUILDING DAMAGE, SPARK WAS UNABLE TO OPEN ITS DOORS TO MEMBERS. INSTEAD, SPARK PROVIDED VIRTUAL PROGRAMMING AND MEETUPS.
EDUCATION - FACILITATED A FEW ONLINE CLASSES. DEVELOPED A NEW CERTIFICATION PROGRAM FOR EACH SPACE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Moran Executive Dir. | Officer | 40 | $38,750 |
George Ryan Treasurer | Trustee | 0 | $0 |
Erica Andrews Director | Trustee | 0 | $0 |
Maritza Vargas Director | Trustee | 0 | $0 |
John Scimone Secretary | Trustee | 0 | $0 |
Kristin Harkness Chairman | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $92,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $45,383 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,539 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $219,922 |
| Total Program Service Revenue | $26,251 |
| Investment income | $18 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $246,191 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $38,750 |
| Compensation of current officers, directors, key employees. | $12,788 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,042 |
| Fees for services: Accounting | $7,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $348 |
| Office expenses | $2,751 |
| Information technology | $369 |
| Royalties | $0 |
| Occupancy | $11,974 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,170 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,647 |
| Insurance | $6,136 |
| All other expenses | -$13,756 |
| Total functional expenses | $85,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,373 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $427,970 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $18,968 |
| Other assets | $100 |
| Total assets | $490,411 |
| Accounts payable and accrued expenses | $0 |
| 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 | $10,000 |
| Secured mortgages and notes payable | $144,930 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $154,930 |
| Net assets without donor restrictions | $335,481 |
| 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 | $490,411 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Spark Makerspace Co has recieved totaling $7,111.
| Awarding Organization | Amount |
|---|---|
Dominion Energy Charitable Foundation Richmond, VA PURPOSE: A FOREVER HOME FOR SPARK MAKERSPACE | $5,000 |
Lavoie Foundation Barnstead, NH PURPOSE: EDUCATION | $1,000 |
Pfizer Foundation Inc New York, NY PURPOSE: VOLUNTEER PROGRAM | $600 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $11 |
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St Boniface Haiti Foundation Inc Newton, MA | $12,232,493 | $9,069,662 |
Albany County Opportunity Incorporated Albany, NY | $9,044,384 | $9,921,411 |
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Wayne County Action Program Inc Lyons, NY | $3,537,821 | $9,071,492 |
Opportunities For Otsego Inc Oneonta, NY | $3,078,713 | $8,326,679 |
Lifeworks Community Action Inc Ballston Spa, NY | $2,628,001 | $8,482,858 |
River Fund New York Inc Richmond Hill, NY | $4,726,214 | $9,106,932 |
Jewish Community Center Of Greater Rochester Inc Rochester, NY | $39,464,609 | $7,226,406 |