Civic Intelligence

Sparc Foundation Inc.

990 • Fiscal year 2021 • EIN 81-3036310

Jul 01, 2020 to Jun 30, 2021 • Filed on May 13, 2021

Organization ProfileTHESPARCFOUNDATION.ORG
225 East Chestnut StreetAsheville, NC 28801

(828) 552-3771

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.49x

Higher debt load relative to assets than 83% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

47th percentile

0.08x

Higher debt load relative to revenue than 47% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

38th percentile

6.1%

Higher net margin than 38% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2021

Asset Growth

2nd percentile

-34%

Faster asset growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

36th percentile

2.0%

Faster revenue growth than 36% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$234,429

Down $122,123 (-34%) from 2020

Net Assets

Up

$119,244

Up $89,377 (+299%) from 2020

Liabilities

Down

$115,185

Down $211,500 (-65%) from 2020

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin38th percentile

Revenue

Up

$1,476,993

Up $28,522 (+2.0%) from 2020

Expenses

Down

$1,387,616

Down $32,833 (-2.3%) from 2020

Net Income

Up

$89,377

Up $61,355 (+219%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2021

Assets$234,429
Liabilities$115,185
Net Assets$119,244
Open 2021 Filing

Operations Trend

Revenue Growth36th 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

2021

Revenue$1,476,993
Expenses$1,387,616
Net Income$89,377
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 13, 2021
Return Version
2020v4.0
Gross Receipts
$1,476,993
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
Accounts Receivable$131,853$150,031▲ $18,178
Cash and Non-Interest-Bearing Accounts$214,400$76,558▼ $137,842
Prepaid Expenses and Deferred Charges$2,790$2,790→ $0
Land, Buildings, and Equipment, Net$4,316$1,857▼ $2,459
Other Notes and Loans Receivable, Net$193$193→ $0
Total Assets$356,552$234,429▼ $122,123
Other Assets Total$3,000$3,000→ $0
Liabilities
Other Liabilities$278,528$64,349▼ $214,179
Accounts Payable and Accrued Expenses$48,157$50,836▲ $2,679
Total Liabilities$326,685$115,185▼ $211,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$29,867$119,244▲ $89,377
Total Net Assets Fund Balance$29,867$119,244▲ $89,377
Total Liabilities and Net Assets / Fund Balance$356,552$234,429▼ $122,123

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,857$12,293$14,150
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Jackie LatekExecutive DiFT$74,868$74,868

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,476,838
Program Service Revenue
$155
Investment Income
$0
Other Revenue
$0
All Other Contributions
$15,689
Change in Net Assets
$89,377
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,146,342
Other Expenses$241,274
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$889,128$85,131-$974,259
Payroll Taxes$77,721$13,715-$91,436
Current Officers, Directors, Trustees, and Key Employees-$74,868-$74,868
Occupancy$39,896$4,433-$44,329
Fees for Services Accounting-$32,660-$32,660
Information Technology$27,584--$27,584
Insurance$18,594$7,684-$26,278
Fees for Services Other$22,097--$22,097
All Other Expenses$10,903$2,605-$13,508
Office Expenses$5,666$1,904-$7,570
Advertising$7,141--$7,141
Fees for Services Management$6,003$1,059-$7,062
Other Employee Benefits$4,912$867-$5,779
Other Expenses$3,794--$3,794
Interest$3,715--$3,715
Depreciation Depletion$1,843$616-$2,459
Total Functional Expenses$1,162,074$225,542$0$1,387,616
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
Eidl Loan$25,000
Mountaine Biz Works 2$18,828
Mountain Biz Works$14,822
Paycheck Protection Program Loan$5,699
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
225 EAST CHESTNUT STREET, ASHEVILLE, NC 28801

Signing Officer

Name
Jackie Latek
Title
Executive Director
Phone
8287760551
Signed
2021-05-13
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
45

Preparer

Firm
Goldsmith Molis & Gray Pllc
Address
32 ORANGE ST, ASHEVILLE, NC 28801-2914
Preparer
Crystal Z Goldsmith CPA
Phone
8282813161
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IRS990/ReconcilationRevenueExpnssAmt089377
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0155
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01408285
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01472513
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01328725
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0901544
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06587905
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt026700
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt026700
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt067907
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IRS990ScheduleA/TotalSupportAmt06614605
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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/BookValueAmt01857
IRS990ScheduleD/EquipmentGrp/DepreciationAmt012293
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014150
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt025000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt118828
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt214822
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt35699
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0EIDL LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MOUNTAINE BIZ WORKS 2
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MOUNTAIN BIZ WORKS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYCHECK PROTECTION PROGRAM LOAN
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01857
IRS990ScheduleD/TotalLiabilityAmt064349
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
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0225542
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01162074
IRS990/TotalFunctionalExpensesGrp/TotalAmt01387616
IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceExpensesAmt01162074
IRS990/TotalProgramServiceRevenueAmt0155
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01476993
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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
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JACKIE LATEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08287760551
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPARC FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SPAR
ReturnHeader/Filer/EIN0813036310
ReturnHeader/Filer/PhoneNum08285523771
ReturnHeader/Filer/USAddress/AddressLine1Txt0225 EAST CHESTNUT STREET
ReturnHeader/Filer/USAddress/CityNm0ASHEVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028801
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0463054896
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GOLDSMITH MOLIS & GRAY PLLC

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$234,429
Liabilities
$115,185
Net assets
$119,244
Revenue
$1,476,993
Expenses
$1,387,616
Net income
$89,377
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