Civic Intelligence

Ann Arbor Spark Foundation

990 • Fiscal year 2016 • EIN 38-3416745

Jan 01, 2016 to Dec 31, 2016 • Filed on May 08, 2017

201 S Division Ste 430Ann Arbor, MI 48104

(734) 761-9317

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.40x

Higher debt load relative to assets than 87% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

87th percentile

0.21x

Higher debt load relative to revenue than 87% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

63rd percentile

9.3%

Higher net margin than 63% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

100th percentile

$320,744

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 131.7% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

93rd percentile

131%

Faster asset growth than 93% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

98th percentile

509%

Faster revenue growth than 98% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Up

$128,506

Up $72,977 (+131%) from 2015

Net Assets

Up

$77,712

Up $22,706 (+41%) from 2015

Liabilities

Up

$50,794

Up $50,271 (+9612%) from 2015

Revenue

Up

$243,500

Up $203,500 (+509%) from 2015

Expenses

Up

$220,794

Up $175,660 (+389%) from 2015

Net Income

Up

$22,706

Up $27,840 (+542%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $4,264,356Liabilities 2010: $1,334,134Net Assets 2010: $2,930,2222010Assets 2011: $4,148,443Liabilities 2011: $1,715,823Net Assets 2011: $2,432,6202011Assets 2012: $284,685Liabilities 2012: $211,400Net Assets 2012: $73,2852012Assets 2013: $267,400Liabilities 2013: $153,551Net Assets 2013: $113,8492013Assets 2014: $60,140Liabilities 2014: $0Net Assets 2014: $60,1402014Assets 2015: $55,529Liabilities 2015: $523Net Assets 2015: $55,0062015Assets 2016: $128,506Liabilities 2016: $50,794Net Assets 2016: $77,7122016Assets 2017: $438,893Liabilities 2017: $0Net Assets 2017: $438,8932017Assets 2018: $364,931Liabilities 2018: $90,596Net Assets 2018: $274,3352018Assets 2019: $183,509Liabilities 2019: $23,263Net Assets 2019: $160,2462019Assets 2020: $139,187Liabilities 2020: $9,382Net Assets 2020: $129,8052020Assets 2021: $200,706Liabilities 2021: $67,118Net Assets 2021: $133,5882021Assets 2022: $166,236Liabilities 2022: $101,143Net Assets 2022: $65,0932022Assets 2023: $85,905Liabilities 2023: $35,870Net Assets 2023: $50,0352023Assets 2024: $91,440Liabilities 2024: $35,870Net Assets 2024: $55,5702024

Highlighted filing

2016

Assets$128,506
Liabilities$50,794
Net Assets$77,712

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $3,654,0332010Expenses 2011: $2,908,7562011Expenses 2012: $2,311,3332012Revenue 2013: $1,042,466Expenses 2013: $1,001,902Net Income 2013: $40,5642013Revenue 2014: $36,000Expenses 2014: $89,709Net Income 2014: -$53,7092014Revenue 2015: $40,000Expenses 2015: $45,134Net Income 2015: -$5,1342015Revenue 2016: $243,500Expenses 2016: $220,794Net Income 2016: $22,7062016Revenue 2017: $682,000Expenses 2017: $320,819Net Income 2017: $361,1812017Revenue 2018: $352,000Expenses 2018: $516,558Net Income 2018: -$164,5582018Revenue 2019: $307,500Expenses 2019: $421,589Net Income 2019: -$114,0892019Revenue 2020: $1,613,230Expenses 2020: $1,643,671Net Income 2020: -$30,4412020Revenue 2021: $250,150Expenses 2021: $246,367Net Income 2021: $3,7832021Revenue 2022: $206,714Expenses 2022: $275,209Net Income 2022: -$68,4952022Revenue 2023: $204,858Expenses 2023: $219,916Net Income 2023: -$15,0582023Revenue 2024: $182,887Expenses 2024: $177,352Net Income 2024: $5,5352024

Highlighted filing

2016

Revenue$243,500
Expenses$220,794
Net Income$22,706
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 8, 2017
Return Version
2016v3.0
Gross Receipts
$243,500
Mission and Program Overview

Mission

The ann arbor spark foundation provides funding and support for the activities of ann arbor spark, a not for profit 501(c)6 corporation which advances economic development in the region by encouraging and supporting business acceleration, attraction, expansion and retention.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$55,529$103,506▲ $47,977
Accounts Receivable-$25,000-
Total Assets$55,529$128,506▲ $72,977
Liabilities
Other Liabilities$523$35,794▲ $35,271
Deferred Revenue-$15,000-
Total Liabilities$523$50,794▲ $50,271
Net Assets / Fund Balance
Unrestricted Net Assets$55,006$77,712▲ $22,706
Total Net Assets Fund Balance$55,006$77,712▲ $22,706
Total Liabilities and Net Assets / Fund Balance$55,529$128,506▲ $72,977
Compensation and Service Providers

Employees

NameTitleOtherTotal
Paul KrutkoPresident/ce$320,744$320,744
Liz PerpichDirector of$118,184$118,184

Board Members and Trustees

NameTitle
Cynthia WilbanksChair
Timothy G MarshallPast Chair
Paul KrutkoPresident/CEO
David ParsigianVice Chair
Albert BerrizBoard Member
Charles GulashBoard Member
Chris TaylorBoard Member
Jim SmithBoard Member
Jonathan S NewpolBoard Member
Kenneth FischerBoard Member
Mark SchlisselBoard Member
Mike KennedyBoard Member
Ric DevoreBoard Member
Stephen ForrestBoard Member
Trevor LauerBoard Member
Dr Rose BellancaSecretary
David RuudTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$43,500
Program Service Revenue
$200,000
Investment Income
$0
Other Revenue
$0
All Other Contributions
$43,500
Change in Net Assets
$22,706

Audited Revenue Reconciliation

Revenue per Audited Statements
$243,500
Total Revenue per Audited Statements
$243,500
Total Revenue per Form 990
$243,500
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$220,794
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$55,204--$55,204
Information Technology$30,840--$30,840
Occupancy$7,025--$7,025
Travel$1,590--$1,590
Fees for Services Legal$676--$676
Other Expenses$298--$298
Conferences and Meetings$161--$161
Total Functional Expenses$220,794$0$0$220,794

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$220,794
Total Expenses per Audited Statements$220,794
Total Expenses per Form 990$220,794
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Ann Arbor Spark$35,794
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 1A

The board has granted full decision making responsibilities to the executive committee.

Form 990, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, Line 12C

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 foundation follows up with the executive committee, the executive committee decides if further action in necessary.

Form 990, Page 6, Part VI, Line 15A

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. There are no employees of ann arbor spark foundation, rather they are all employees of ann arbor spark.

Form 990, Page 6, Part VI, Line 15B

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. There are no employees of ann arbor spark foundation, rather they are all employees of ann arbor spark.

Form 990, Page 6, Part VI, Line 19

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 public information available on guidestar. 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.

Filing and Contact Details

Filer

Filer Name
Ann Arbor Spark Foundation
EIN
38-3416745
Phone
7347619317
Address
201 S DIVISION STE 430, ANN ARBOR, MI 48104

Signing Officer

Name
Paul Krutko
Title
President/CEO
Phone
7346159310
Signed
2017-05-08

Organization Details

Principal Officer
Paul Krutko
Formed
1998
Legal Domicile
Mi
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
100

Preparer

Firm
Yeo & Yeo Pc
Address
1450 EISENHOWER PLACE, ANN ARBOR, MI 48108-3283
Preparer
THOMAS A O'SULLIVAN
Phone
7347691331
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The ann arbor spark foundation provides funding and support for the activities of ann arbor spark, a not for profit 501(c)6 corporation which advances economic development in the region by encouraging and supporting business acceleration, attraction, expansion and retention.

Form 990, Part IX, Line 11G

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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR OF
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IRS990/MissionDesc0THE ANN ARBOR SPARK FOUNDATION PROVIDES FUNDING AND SUPPORT FOR THE ACTIVITIES OF ANN ARBOR SPARK, A NOT FOR PROFIT 501(C)6 CORPORATION WHICH ADVANCES ECONOMIC DEVELOPMENT IN THE REGION BY ENCOURAGING AND SUPPORTING BUSINESS ACCELERATION, ATTRACTION, EXPANSION AND RETENTION.
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IRS990/OtherExpensesGrp/Desc1DUES & SUBS
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IRS990/PrincipalOfficerNm0PAUL KRUTKO
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IRS990/ProgramServiceRevenueGrp/Desc0ACCELERATOR GRANTS & REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1MUNICIPAL SERVICE CONTRACTS
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION ENSURES THAT ANN ARBOR SPARK IS A 501C6 AND SATIFIES THEIR PUBLIC SUPPORT TEST ANNUALLY BY REVIEWING THEIR 990 AND IRS STATUS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1MANAGEMENT MONTITORS THAT FUNDS ARE ONLY USED FOR ALLOWABLE ACTIVITIES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 3B
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION A, LINE 3C
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IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ANN ARBOR SPARK
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0ANN ARBOR SPARK
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO ANN ARBOR SPARK
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PAUL KRUTKO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0320744
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0PRESIDENT/CEO AND FINANCE DIRECTOR ARE PAID BY ANN ARBOR SPARK. THE ANN ARBOR SPARK FOUNDATION IS A SUPPORTING ORGANIZATION.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART III
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ANN ARBOR SPARK FOUNDATION PROVIDES FUNDING AND SUPPORT FOR THE ACTIVITIES OF ANN ARBOR SPARK, A NOT FOR PROFIT 501(C)6 CORPORATION WHICH ADVANCES ECONOMIC DEVELOPMENT IN THE REGION BY ENCOURAGING AND SUPPORTING BUSINESS ACCELERATION, ATTRACTION, EXPANSION AND RETENTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD HAS GRANTED FULL DECISION MAKING RESPONSIBILITIES TO THE EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT OF THE FORM 990 IS DISTRIBUTED TO THE FINANCE COMMITTEE AND CEO PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERS 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 FOUNDATION FOLLOWS UP WITH THE EXECUTIVE COMMITTEE, THE EXECUTIVE COMMITTEE DECIDES IF FURTHER ACTION IN NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION 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. THERE ARE NO EMPLOYEES OF ANN ARBOR SPARK FOUNDATION, RATHER THEY ARE ALL EMPLOYEES OF ANN ARBOR SPARK.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION 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. THERE ARE NO EMPLOYEES OF ANN ARBOR SPARK FOUNDATION, RATHER THEY ARE ALL EMPLOYEES OF ANN ARBOR SPARK.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE 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 PUBLIC INFORMATION AVAILABLE ON GUIDESTAR. 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt755,204 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.09$0.04$0.06$0.18$0.18$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.09$0.04$0.05$0.20$0.22$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.10$0.07$0.21$0.28$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.20$0.07$0.13$0.25$0.25$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.14$0.01$0.13$1.61$1.64$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.18$0.02$0.16$0.31$0.42$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.36$0.09$0.27$0.35$0.52$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.44$0.68$0.32$0.36
2016Detailed filing. Detailed filing data is available for this year.$0.13$0.05$0.08$0.24$0.22$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.04$0.05$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.04$0.09$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.27$0.15$0.11$1.04$1.00$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.21$0.07$2.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.15$1.72$2.43$2.91
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.26$1.33$2.93$3.65