Sparc Foundation Inc
- Assets
- $234.4k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 45
- Location
- Asheville, NC
- Founding
- 05/2017
- Data as of
- 06/2021
- EIN
- 81-3036310
Organization Overview
Sparc Foundation Inc is located in Asheville, NC. The organization was established in 2017. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2021, Sparc Foundation Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sparc Foundation Inc 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 06/2021, Sparc Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $1.4m during the year ending 06/2021. While expenses have increased by 7.9% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SPARC FOUNDATION'S MISSION IS TO WORK TO KEEP PEOPLE OUT OF UNNECESSARY AND EXPENSIVE INSTITUTIONAL SETTINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPARC FOUNDATION'S MISSION WAS CONDUCTED AND ACCOMPLISHED IN KEEPING PEOPLE OUT OF UNNECESSARY AND EXPENSIVE INSTITUTIONAL SETTINGS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jackie Latek Executive Di | OfficerTrustee | 40 | $74,868 |
Veronica Edwards Board Treasu | OfficerTrustee | 0.75 | $0 |
Brent Bailey Board Chair | OfficerTrustee | 1.25 | $0 |
Marlo Smith Secretary | OfficerTrustee | 0.75 | $0 |
Shana Mcdowell Board Member | Trustee | 0.25 | $0 |
Tracy Novak Board Member | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,461,149 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,689 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,476,838 |
| Total Program Service Revenue | $155 |
| Investment income | $0 |
| 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 | $1,476,993 |
| 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. | $74,868 |
| Compensation of current officers, directors, key employees. | $74,868 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $974,259 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,779 |
| Payroll taxes | $91,436 |
| Fees for services: Management | $7,062 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,097 |
| Advertising and promotion | $7,141 |
| Office expenses | $7,570 |
| Information technology | $27,584 |
| Royalties | $0 |
| Occupancy | $44,329 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,715 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,459 |
| Insurance | $26,278 |
| All other expenses | $13,508 |
| Total functional expenses | $1,387,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,558 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $150,031 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $193 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,790 |
| Net Land, buildings, and equipment | $1,857 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $234,429 |
| Accounts payable and accrued expenses | $50,836 |
| 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 | $64,349 |
| Total liabilities | $115,185 |
| Net assets without donor restrictions | $119,244 |
| 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 | $234,429 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sparc Foundation Inc has recieved totaling $8,500.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: ASSISTING PEOPLE IN NEED | $8,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Improvement Council Inc Edenton, NC | $4,246,156 | $20,948,013 |
Frontstream Global Fund Alexandria, VA | $871,140 | $19,414,740 |
Catholic Charities Of Tennessee Inc Nashville, TN | $6,708,389 | $19,282,106 |
Country Club Of Landfall Wilmington, NC | $36,040,032 | $19,318,350 |
Miracle Hill Ministries Inc Greenville, SC | $35,712,614 | $22,314,976 |
Pee Dee Community Action Agency Florence, SC | $4,501,947 | $18,161,366 |
Commonwealth Catholic Charities Richmond, VA | $9,806,748 | $17,802,660 |
Action Pathways Inc Fayetteville, NC | $19,024,818 | $19,740,388 |
Southeast Tennessee Human Resource Agency Dunlap, TN | $24,351,699 | $17,068,562 |
Western Carolina Community Action Inc Hendersonville, NC | $8,009,014 | $16,309,816 |
Highland School Inc Warrenton, VA | $41,730,791 | $16,433,775 |
Mid-Cumberland Community Action Agency Inc Mount Juliet, TN | $5,482,077 | $16,120,135 |