Civic Intelligence

Sparc Foundation Inc.

990 • Fiscal year 2020 • EIN 81-3036310

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 12, 2020

Organization ProfileTHESPARCFOUNDATION.ORG
PO Box 8879Asheville, NC 28814

(828) 552-3771

Siviq Scores

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

Liabilities / Assets

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

62nd percentile

0.23x

Higher debt load relative to revenue than 62% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

42nd percentile

1.9%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

97th percentile

211%

Faster asset growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

41st percentile

-3.4%

Faster revenue growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$356,552

Up $241,979 (+211%) from 2019

Net Assets

Up

$29,867

Up $5,340 (+22%) from 2019

Liabilities

Up

$326,685

Up $236,639 (+263%) from 2019

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin42nd percentile

Revenue

Down

$1,448,471

Down $51,608 (-3.4%) from 2019

Expenses

Down

$1,420,449

Down $48,176 (-3.3%) from 2019

Net Income

Down

$28,022

Down $3,432 (-11%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$400K$200K$0-$200KAssets 2017: $15,983Liabilities 2017: $64,695Net Assets 2017: -$48,7122017Assets 2018: $85,550Liabilities 2018: $92,477Net Assets 2018: -$6,9272018Assets 2019: $114,573Liabilities 2019: $90,046Net Assets 2019: $24,5272019Assets 2020: $356,552Liabilities 2020: $326,685Net Assets 2020: $29,8672020Assets 2021: $234,429Liabilities 2021: $115,185Net Assets 2021: $119,2442021Assets 2022: $172,946Liabilities 2022: $114,565Net Assets 2022: $58,3812022Assets 2023: $201,886Liabilities 2023: $137,195Net Assets 2023: $64,6912023Assets 2024: $279,955Liabilities 2024: $189,722Net Assets 2024: $90,2332024

Highlighted filing

2020

Assets$356,552
Liabilities$326,685
Net Assets$29,867
Open 2020 Filing

Operations Trend

Revenue Growth41st percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $901,544Expenses 2017: $950,256Net Income 2017: -$48,7122017Revenue 2018: $1,355,425Expenses 2018: $1,313,640Net Income 2018: $41,7852018Revenue 2019: $1,500,079Expenses 2019: $1,468,625Net Income 2019: $31,4542019Revenue 2020: $1,448,471Expenses 2020: $1,420,449Net Income 2020: $28,0222020Revenue 2021: $1,476,993Expenses 2021: $1,387,616Net Income 2021: $89,3772021Revenue 2022: $1,532,955Expenses 2022: $1,593,818Net Income 2022: -$60,8632022Revenue 2023: $2,033,009Expenses 2023: $2,026,699Net Income 2023: $6,3102023Revenue 2024: $2,047,822Expenses 2024: $2,112,211Net Income 2024: -$64,3892024

Highlighted filing

2020

Revenue$1,448,471
Expenses$1,420,449
Net Income$28,022
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 12, 2020
Return Version
2019v5.0
Gross Receipts
$1,448,471
Mission and Program Overview

Mission

Sparc foundation's mission is to work to keep people out of unnecessary and expensive institutional settings.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$52,977$214,400▲ $161,423
Accounts Receivable$51,123$131,853▲ $80,730
Land, Buildings, and Equipment, Net$10,473$4,316▼ $6,157
Prepaid Expenses and Deferred Charges-$2,790-
Other Notes and Loans Receivable, Net-$193-
Total Assets$114,573$356,552▲ $241,979
Other Assets Total-$3,000-
Liabilities
Other Liabilities$90,046$278,528▲ $188,482
Accounts Payable and Accrued Expenses-$48,157-
Total Liabilities$90,046$326,685▲ $236,639
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,527$29,867▲ $5,340
Total Net Assets Fund Balance$24,527$29,867▲ $5,340
Total Liabilities and Net Assets / Fund Balance$114,573$356,552▲ $241,979

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,316$9,834$14,150
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Jackie LatekExecutive DiFT$73,438$73,438

Board Members and Trustees

NameTitle
Brent BaileyBoard Chair
Allison EttingerBoard Member
Jody StevensonBoard Member
Justin WrightBoard Member
Shana McdowellBoard Member
Tracy NovakBoard Member
Veronica EdwardsBoard Treasu
Dustin DowMember
Lissa BrownMember
Sala MenayaMember
Marlo SmithSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,408,285
Program Service Revenue
$40,186
Investment Income
$0
Other Revenue
$0
All Other Contributions
$47,220
Change in Net Assets
$28,022

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,448,471
Total Revenue per Audited Statements
$1,448,471
Total Revenue per Form 990
$1,448,471
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,162,144
Other Expenses$258,305
Total Fundraising Expense$2,761
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$919,512$66,733$2,276$988,521
Payroll Taxes$79,374$12,098$183$91,655
Current Officers, Directors, Trustees, and Key Employees-$73,438-$73,438
Occupancy$46,895$5,211-$52,106
Fees for Services Other$22,863$3,937-$26,800
Insurance$18,256$6,085-$24,341
All Other Expenses$21,203$606$285$22,094
Fees for Services Accounting-$21,870-$21,870
Information Technology$14,496--$14,496
Office Expenses$7,456$3,273-$10,729
Other Employee Benefits$7,387$1,126$17$8,530
Fees for Services Management$7,913--$7,913
Other Expenses$5,798$1,932-$7,730
Interest$3,171--$3,171
Depreciation Depletion$1,843$615-$2,458
Advertising$634--$634
Travel$234--$234
Total Functional Expenses$1,220,764$196,924$2,761$1,420,449

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,420,449
Total Expenses per Audited Statements$1,420,449
Total Expenses per Form 990$1,420,449
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
Paycheck Protection Program Loan$236,500
Mountaine Biz Works 2$23,214
Mountain Biz Works$18,814
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The board reviews the 990 prior to filing.”

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

“The board monitors conflicts of interest on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Sparc Foundation Inc
EIN
81-3036310
Phone
8285523771
Address
PO BOX 8879, ASHEVILLE, NC 28814

Signing Officer

Name
Jackie Latek
Title
Executive Director
Phone
8287760551
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jackie Latek
Formed
2016
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
54

Preparer

Firm
Goldsmith Molis & Gray Pllc
Address
32 ORANGE ST, ASHEVILLE, NC 28801-2914
Preparer
Crystal Z Goldsmith CPA
Phone
8282813161
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Fasb asc 740, "accounting for uncertainty in income taxes" clarified the accounting for the recognition and measurement of uncertainties in income taxes recognized in an entity's financial statements and prescribes a threshold of more likely-than-not for recognition of tax positions taken or expected to be taken in a tax return. The foundation's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the internal revenue code and regulations, revenue rulings, court decisions and other evidence.”

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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02790
IRS990/PrincipalOfficerNm0JACKIE LATEK
IRS990/PriorPeriodAdjustmentsAmt0-22682
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROJECT SAFE NEIGHBORHOOD
IRS990/ProgramServiceRevenueGrp/Desc1STRONG FATHERS
IRS990/ProgramServiceRevenueGrp/Desc2SPECTRUM HEALING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt030456
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18430
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt030456
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18430
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21300
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01472513
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0221219
IRS990/PYProgramServiceRevenueAmt027566
IRS990/PYRevenuesLessExpensesAmt031454
IRS990/PYSalariesCompEmpBnftPaidAmt01247406
IRS990/PYTotalExpensesAmt01468625
IRS990/PYTotalRevenueAmt01500079
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt028022
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt040186
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01408285
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01472513
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01328725
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0901544
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05111067
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt026700
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt026700
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt051572
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99480
IRS990ScheduleA/PublicSupportPY170Pct00.99280
IRS990ScheduleA/PublicSupportTotal170Amt05111067
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01408285
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01472513
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01328725
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0901544
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05111067
IRS990ScheduleA/TotalSupportAmt05137767
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt04316
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09834
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014150
IRS990ScheduleD/ExpensesSubtotalAmt01420449
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0236500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt123214
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt218814
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYCHECK PROTECTION PROGRAM LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MOUNTAINE BIZ WORKS 2
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MOUNTAIN BIZ WORKS
IRS990ScheduleD/RevenueSubtotalAmt01448471
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FASB ASC 740, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" CLARIFIED THE ACCOUNTING FOR THE RECOGNITION AND MEASUREMENT OF UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE LIKELY-THAN-NOT FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE FOUNDATION'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSITIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS AND OTHER EVIDENCE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04316
IRS990ScheduleD/TotalExpensesPerForm990Amt01420449
IRS990ScheduleD/TotalLiabilityAmt0278528
IRS990ScheduleD/TotalRevenuePerForm990Amt01448471
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01448471
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01420449
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MONITORS CONFLICTS OF INTEREST ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0114573
IRS990/TotalAssetsEOYAmt0356552
IRS990/TotalAssetsGrp/BOYAmt0114573
IRS990/TotalAssetsGrp/EOYAmt0356552
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01408285
IRS990/TotalEmployeeCnt054
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02761
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0196924
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01220764
IRS990/TotalFunctionalExpensesGrp/TotalAmt01420449
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt090046
IRS990/TotalLiabilitiesEOYAmt0326685
IRS990/TotalLiabilitiesGrp/BOYAmt090046
IRS990/TotalLiabilitiesGrp/EOYAmt0326685
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt024527
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt029867
IRS990/TotalProgramServiceExpensesAmt01220764
IRS990/TotalProgramServiceRevenueAmt040186
IRS990/TotalReportableCompFromOrgAmt073438
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt040186
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01448471
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0114573
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0356552
IRS990/TravelGrp/ProgramServicesAmt0234
IRS990/TravelGrp/TotalAmt0234
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0582 SANDHILL ROAD
IRS990/USAddress/CityNm0ASHEVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028806
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0THESPARCFOUNDATION.ORG

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$356,552
Liabilities
$326,685
Net assets
$29,867
Revenue
$1,448,471
Expenses
$1,420,449
Net income
$28,022
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.19$0.09$2.05$2.11$0.06
2023Detailed filing. Detailed filing data is available for this year.$0.20$0.14$0.06$2.03$2.03$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.11$0.06$1.53$1.59$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.12$0.12$1.48$1.39$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.36$0.33$0.03$1.45$1.42$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.11$0.09$0.02$1.50$1.47$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.09$0.09$0.01$1.36$1.31$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.02$0.06$0.05$0.90$0.95$0.05