Spark Climate Solutions Inc
- Assets
- $12.2m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 15
- Location
- Covina, CA
- Founding
- Data as of
- 12/2023
- EIN
- 87-4299990
Organization Overview
Spark Climate Solutions Inc is located in Covina, CA. According to its NTEE Classification (C99) the organization is classified as: Environment N.E.C., under the broad grouping of Environment and related organizations. As of 12/2023, Spark Climate Solutions Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spark Climate Solutions 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 12/2023, Spark Climate Solutions Inc generated $6.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (26.3%) each year. All expenses for the organization totaled $5.2m 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
SPARKS MISSION IS TO ACCELERATE PROGRESS IN EMERGING, POTENTIALLY HIGH-IMPACT APPROACHES FOR CLIMATE MITIGATION AND ADAPTATION THAT WILL CONTRIBUTE TO HUMANITYS COMPREHENSIVE PORTFOLIO OF SOLUTIONS AND RESPONSES TO ENABLE OUR RETURN TO A SAFE CLIMATE WHILE MINIMIZING RISK TO SOCIETAL STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACCELERATE RESEARCH AND HELP BUILD THE ECOSYSTEM FOR UNDERSTANDING THEPOTENTIAL AND POSSIBILITIES TO MITIGATE ENTERIC METHANE; FOR UNDERSTANDING THEPOTENTIAL IN ATMOSPHERIC METHANE REMOVAL; AND TO RESEARCH EMERGING POTENTIALLY HIGH-IMPACT CLIMATE MITIGATION AND ADAPTATION SOLUTIONS, RESPONSES, AND RESILIENCY APPROACHES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Mann Hd Of Strategy | OfficerTrustee | 40 | $240,856 |
David Brown Schmidt Futures Innovation Fellow | 40 | $177,689 | |
Laura Adams Chief Of Staff | 40 | $154,951 | |
Paige E Brocidiacono Project Manager | 40 | $141,228 | |
Daphne Wysham Hd Of Methane Remo | 40 | $135,285 | |
Erika Reinhardt Executive Dir. | OfficerTrustee | 40 | $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 | $6,277,230 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,277,230 |
| Total Program Service Revenue | $0 |
| Investment income | $79,135 |
| 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 | $6,363,291 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $657,262 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,518,419 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $573,496 |
| Compensation of current officers, directors, key employees. | $63,341 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $872,574 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $155,696 |
| Payroll taxes | $108,300 |
| 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 | $938,417 |
| Advertising and promotion | $7,677 |
| Office expenses | $20,703 |
| Information technology | $7,255 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $81,875 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $98,582 |
| Interest | $375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,571 |
| Insurance | $10,968 |
| All other expenses | $1,858 |
| Total functional expenses | $5,161,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,650,506 |
| Savings and temporary cash investments | $1,591,236 |
| Pledges and grants receivable | $2,506,613 |
| 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 | $22,455 |
| Net Land, buildings, and equipment | $171,429 |
| Investments—publicly traded securities | $254,098 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,196,337 |
| Accounts payable and accrued expenses | $230,445 |
| Grants payable | $1,291,697 |
| 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 | $86,330 |
| Total liabilities | $1,608,472 |
| Net assets without donor restrictions | $5,330,988 |
| Net assets with donor restrictions | $5,256,877 |
| 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 | $12,196,337 |
Grants Awarded
Over the last fiscal year, Spark Climate Solutions Inc has awarded $652,262 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CORNELL UNVERSITY PURPOSE: Research Grants | $279,318 |
REGENTS OF THE UNIV MICHIGAN | | | $51,000 |
REGENTS OF THE UNIV CALIFORN | | | $51,687 |
TEXAS A&M FOUNDATION | | | $110,255 |
TRUSTEES OF COLUMBIA UNIV | | | $160,002 |