Civic Intelligence

Ann Arbor Spark Foundation

990 • Fiscal year 2021 • EIN 38-3416745

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 26, 2022

330 East Liberty StAnn Arbor, MI 48104

(734) 761-9317

Siviq Scores

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

Liabilities / Assets

86th percentile

0.33x

Higher debt load relative to assets than 86% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

0.27x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

39th percentile

1.5%

Higher net margin than 39% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

100th percentile

$391,147

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 156.4% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

79th percentile

44%

Faster asset growth than 79% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

6th percentile

-84%

Faster revenue growth than 6% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$200,706

Up $61,519 (+44%) from 2020

Net Assets

Up

$133,588

Up $3,783 (+2.9%) from 2020

Liabilities

Up

$67,118

Up $57,736 (+615%) from 2020

Revenue

Down

$250,150

Down $1,363,080 (-84%) from 2020

Expenses

Down

$246,367

Down $1,397,304 (-85%) from 2020

Net Income

Up

$3,783

Up $34,224 (+112%) from 2020

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

2021

Assets$200,706
Liabilities$67,118
Net Assets$133,588

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

2021

Revenue$250,150
Expenses$246,367
Net Income$3,783
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 26, 2022
Return Version
2021v4.0
Gross Receipts
$250,150
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$114,187$100,706▼ $13,481
Accounts Receivable$25,000$100,000▲ $75,000
Total Assets$139,187$200,706▲ $61,519
Liabilities
Accounts Payable and Accrued Expenses$9,382$67,118▲ $57,736
Total Liabilities$9,382$67,118▲ $57,736
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$129,805$133,588▲ $3,783
Total Net Assets Fund Balance$129,805$133,588▲ $3,783
Total Liabilities and Net Assets / Fund Balance$139,187$200,706▲ $61,519
Compensation and Service Providers

Employees

NameTitleOtherTotal
Paul KrutkoPresident/ce$391,147$391,147
Elizabeth PerpichDirector of$128,822$128,822

Board Members and Trustees

NameTitle
David RuudChair
David ParsigianPast Chair
Paul KrutkoPresident/CEO
Kelly SextonVice Chair
Brenda StumboBoard Member
Chris KolbBoard Member
Christina YorkBoard Member
Christine SingBoard Member
David WilhoitBoard Member
Dr Rose BellancaBoard Member
Gregory DillBoard Member
Jeff HauptmanBoard Member
John MclaughlinBoard Member
Leigh R GredenBoard Member
Lon LowenBoard Member
Mandy Grewal PhdBoard Member
Mara M FarmerBoard Member
Mark Lepage Md MbaBoard Member
Mickey SwortzelBoard Member
Mike ArchinalBoard Member
Milton DohoneyBoard Member
Paul RoneyBoard Member
Robert YoungBoard Member
Simon WhitelockeBoard Member
Sue ShinkBoard Member
Tim PetersenBoard Member
Timothy G MarshallBoard Member
Tom CrawfordBoard Member
Venkat Dv RaoBoard Member
Tiffany FordSecretary
David SnodgrassTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$250,150
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$250,150
Change in Net Assets
$3,783
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$136,000
Other Expenses$110,367
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$136,000--$136,000
Fees for Services Other$47,790--$47,790
Occupancy$32,603--$32,603
Conferences and Meetings$13,214--$13,214
Advertising$6,675--$6,675
Office Expenses$6,071--$6,071
Other Expenses$3,403--$3,403
Travel$395--$395
Information Technology$216--$216
Total Functional Expenses$246,367$0$0$246,367
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ann Arbor SparkAnn Arbor, MI6Economic Development$136,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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 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 statements on our website. The 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
330 EAST LIBERTY ST, ANN ARBOR, MI 48104

Signing Officer

Name
Paul Krutko
Title
President/CEO
Phone
7345279143
Signed
2022-07-26

Organization Details

Principal Officer
Paul Krutko
Formed
1998
Legal Domicile
Mi
Voting Board Members
30
Independent Board Members
29
Employees
0
Volunteers
130

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, Page 1, Part I, Line 6

Volunteers include board and committee members.

Form 990, Part IX, Line 11G

Spark personnel reimbursement 47,790 0 0

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Document Assets

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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