Spark Ventures
- Assets
- $537.1k
- Revenue
- $845.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 08/2007
- Data as of
- 06/2022
- EIN
- 51-0626562
Organization Overview
Spark Ventures is located in Chicago, IL. The organization was established in 2007. 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 06/2022, Spark Ventures employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spark Ventures 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 06/2022, Spark Ventures generated $845.0k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $856.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CHILDREN IN POVERTY WITH EDUCATION, NUTRITION, AND HEALTHCARE AS WELL AS JOBS, CAPACITY BUILDING AND ENTREPRENEURIAL OPPORTUNITIES FOR TEENS AND ADULTS. THE ORGANIZATION STRENGTHENS AND SUSTAINS PARTNERS BY PROVIDING HUMAN RESOURCES, STRATEGIC GUIDANCE, AND FINANCIAL RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ASSISTS ABOUT 800 VULNERABLE CHILDREN, TEENS AND ADULTS IN ZAMBIA, NICARAGUA, MEXICO AND CHICAGO THROUGH PROGRAMS THAT PROVIDE THE CHILDREN WITH EDUCATION, FOOD, SHELTER, HEALTH CARE AND EMOTIONAL SUPPORT AS WELL AS VOCATIONAL WORKSHOPS, ENTREPRENEURIAL OPPORTUNITIES AND JOBS FOR VULNERABLE TEENS AND ADULTS. THE ORGANIZATION ALSO USES FUNDS TO ENHANCE AND EXPAND THE EFFECTIVENESS OF PARTNER PROGRAMS, DEVELOP AND TRAIN PERSONNEL, AND EXECUTE CAPITAL PROJECTS.
THE ORGANIZATION EDUCATES AND RAISES AWARENESS BY COMMUNICATING THE NEEDS AND VISION OF PARTNER ORGANIZATIONS AS WELL AS SHARING INFORMATION REGARDING THE CONDITIONS AND REALITIES WITHIN THE PARTNERS' COUNTRIES AND COMMUNITIES.
THE ORGANIZATION PROVIDES DOMESTIC VOLUNTEER OPPORTUNITIES AS WELL AS INTERNATIONAL SERVICE LEARNING AND VOLUNTEER TRAVEL OPPORTUNITIES TO VISIT AND ENGAGE FIRST-HAND WITH ITS PARTNER ORGANIZATIONS. ADDITIONALLY, A PORTION OF THE TRIP COSTS GOES TOWARD SUPPORTING THE PARTNER ORGANIZATION. PARTNERSHIP TRIPS WERE SUSPENDED IN FY21 DUE TO COVID RESTRICTIONS & SAFETY CONCERNS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Schrepferman Executive Director | Officer | 40 | $82,500 |
Julie Tafel Klaus Vice Chair | OfficerTrustee | 4 | $0 |
Michael Campbell Chairperson | OfficerTrustee | 4 | $0 |
Kathryn Wolf Secretary | OfficerTrustee | 4 | $0 |
Doak Elliott Treasurer | OfficerTrustee | 4 | $0 |
Sue Bernstein Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $515,264 |
| Investment income | $67 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $217,871 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $845,024 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $437,015 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $82,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $128,465 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,287 |
| Payroll taxes | $13,025 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,207 |
| Advertising and promotion | $9,714 |
| Office expenses | $21,524 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,663 |
| Travel | $1,137 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $559 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,641 |
| All other expenses | $0 |
| Total functional expenses | $856,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $447,999 |
| Savings and temporary cash investments | $86,037 |
| 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 | $3,090 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $537,126 |
| Accounts payable and accrued expenses | $16,502 |
| 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 | $16,502 |
| Net assets without donor restrictions | $458,313 |
| Net assets with donor restrictions | $62,311 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $520,624 |