Spark
- Assets
- $2.6m
- Revenue
- $758.1k
- Investments
- $0.0
- Employees
- 10
- Location
- Omaha, NE
- Founding
- 10/2016
- Data as of
- 12/2023
- EIN
- 81-3057920
Organization Overview
Spark is located in Omaha, NE. The organization was established in 2016. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Spark employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spark 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 generated $758.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. 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
ORGANIZATION WAS ESTABLISHED TO CHAMPION COMMUNITY DEVELOPMENT BY FORMING AND LEADING PARTNERSHPS THAT CREATE, IMPLEMENT, AND EVALUATE HOLISTIC REVITALIZATION PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPARK IS A 501(C) NONPROFIT ORGANIZATION THAT BRINGS A UNIQUE, COLLABORATIVE AND COMMUNITY-BASED APPROACH TO ECONOMIC DEVELOPMENT IN THE OMAHA/COUNCIL BLUFFS REGION. WE RECOGNIZE THAT PHILANTHROPIC ORGANIZATIONS, CIVIC INSITUTIONS, AND OTHER EQUITY PARTNERS HAVE THE RESOURCES TO IMPACT CHANGE WHILE COMMUNITY RESIDENTS, BUSINESS OWNERS AND OTHER STAKEHOLDERS BEST UNDERSTAND THE COMMUNITY'S NEEDS. SPARK SERVES AS A BRIDGE BETWEEN THESE VARIOUS PARTIES, LEVERAGING OUR EXPERTISE, RELATIONSHIPS AND FUNDING TO TRANSFORM NEIGHBORHOODS THROUGH A PROCESS OF HOLISTIC DEVELOPMENT. HOLISTIC DEVELOPMENT APPLIES RIGOROUS REAL ESTATE DEVELOPMENT METHODS WHILE CONSIDERING ALL THE FOUNDATIONAL ASSETS: SOCIAL, POLITICAL, ECONOMIC AND PHYSICAL, THAT ARE NECESSARY FOR COMMUNITIES TO THRIVE AND PROSPER. OUR ROLE IS TO SUPPORT AND SUPPLEMENT THE WORK OF EXISTING ORGANIZATIONS, BUILD UPON EXISTING COMMUNITY ASSETS, PROVIDE FUNDING, LEVERAGE RESOURES TO CLOSE FINANCING GAPS AND TO HELP EDUCATE AND MINIMIZE THE RISK FOR DEVELOPERS WHO WOULD OTHERWISE NOT INVEST IN THESE COMMUNITIES. MOREOVER, WE WORK HAND IN HAND WITH THE COMMUNITY TO IDENTIFY AND TRAIN COMMUNITY LEADERS TO EFFECTIVELY ADVOCATE FOR THEMSELVES BOTH NOW AND FOR FUTURE GENERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cammy Watkins President | OfficerTrustee | 2 | $0 |
Jeffrey Kemp Vice President | OfficerTrustee | 2 | $0 |
Andrea Kathol Secretary | OfficerTrustee | 2 | $0 |
Annette Smith Director | Trustee | 1 | $0 |
Nancy Pridal Director | Trustee | 1 | $0 |
Dr Ralph Lassiter Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $681,637 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $723,812 |
| Total Program Service Revenue | $33,158 |
| Investment income | $24,593 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$24,311 |
| 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 | $758,136 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,450 |
| 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. | $112,929 |
| Compensation of current officers, directors, key employees. | $12,917 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $331,827 |
| Pension plan accruals and contributions | $6,581 |
| Other employee benefits | $34,610 |
| Payroll taxes | $40,270 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,921 |
| Fees for services: Accounting | $48,856 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,235 |
| Advertising and promotion | $19,185 |
| Office expenses | $27,691 |
| Information technology | $11,586 |
| Royalties | $0 |
| Occupancy | $35,590 |
| Travel | $20,415 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,556 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,493 |
| Insurance | $9,085 |
| All other expenses | $0 |
| Total functional expenses | $1,076,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,511 |
| Savings and temporary cash investments | $958,959 |
| Pledges and grants receivable | $802,088 |
| 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 | $475,781 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,448 |
| Total assets | $2,599,787 |
| Accounts payable and accrued expenses | $44,214 |
| 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 | $27,266 |
| Total liabilities | $71,480 |
| Net assets without donor restrictions | $932,720 |
| Net assets with donor restrictions | $1,595,587 |
| 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 | $2,599,787 |