Ann Arbor Spark

“A draft of the form 990 is distributed to the finance committee and ceo prior to filing.”

“Members of the board of directors, executive committee and key staff must annually sign a statement concerning potential conflicts of interest. These statements are periodically reviewed by the finance committee to determine if further examination or action is needed. If an conflict of interest exists, ann arbor spark follows up with the executive committee, the executive committee decides if further action in necessary.”

“Compensation committee - the governance committee is responsible for evaluating and establishing the salary and benefits for the ceo and key employees. Staff prepares statistics on comparative salary data from similar organizations for benchmarking. This data, along with performance data, is used by the governance committee to determine compensation for the following fiscal year.”

“Compensation committee - the governance committee is responsible for evaluating and establishing the salary and benefits for the ceo and key employees. Staff prepares statistics on comparative salary data from similar organizations for benchmarking. This data, along with performance data, is used by the governance committee to determine compensation for the following fiscal year.”

“The organization shares information that falls within parameters agreed upon by our funders, clients and portfolio companies. Spark posts its audited financial statement and its 990 on our website, 990 is also available as public information on guidestar.com. Governing documents and policies are not usually available to the general public, although the state of michigan department of licensing and regulatory affairs website provides public access to ann arbor spark's articles of incorporation.”

“Ann arbor spark advances the region by encouraging and supporting business acceleration, attraction, expansion and retention. Our organization identifies and meets the needs of companies at every stage, from start-ups to large organizations. Ann arbor spark collaborates with business, academic, government and community investment partners to position the region as a destination for innovation.”

“Volunteers include board and committe members.”

“Innovation start-ups which currently employ 657 fte. Nurtured 85 incubator tenants.”

“Capital funding: michigan angel fund, michigan preseed fund. The mission of our funding programs is to support high-tech companies throughout the state at their earliest stages of development and position these high growth companies to be able to raise additional capital and investment. The capital programs are an intentional economic development tool that pays itself back, allowing the funds to be redeployed for future reinvestment into more companies. With 130 members and 16 companies in its portfolio, michigan angel fund (maf) is the largest angel organization in michigan. It fills an important funding gap by investing in very early stage companies across the state that are not yet primed for venture and other sources of capital. Maf is managed by ann arbor spark with support from the michigan economic development corporation. The michigan preseed fund is designed to retain entrepreneurial companies in our state and support them throughout their life cycle, these are purposely high-risk investments with a forecast of about 60% projected to reach the next level of funding.”

“Consultant fees 1,276,749 50,125 0 return of funds 162,455 0 0 total 1,439,204 50,125 0”

“Unrealized loss -111,471 change in valuation allowance -546,132 total -657,603”