Civic Intelligence

Sparc Foundation Inc.

990 • Fiscal year 2022 • EIN 81-3036310

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

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

86th percentile

0.66x

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

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.07x

Higher debt load relative to revenue than 58% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Net Margin

21st percentile

-4.0%

Higher net margin than 21% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

68th percentile

$82,286

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Asset Growth

9th percentile

-26%

Faster asset growth than 9% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

36th percentile

3.8%

Faster revenue growth than 36% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$172,946

Down $61,483 (-26%) from 2021

Net Assets

Down

$58,381

Down $60,863 (-51%) from 2021

Liabilities

Down

$114,565

Down $620 (-0.5%) from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin21st percentile

Revenue

Up

$1,532,955

Up $55,962 (+3.8%) from 2021

Expenses

Up

$1,593,818

Up $206,202 (+15%) from 2021

Net Income

Down

-$60,863

Down $150,240 (-168%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth9th 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

2022

Assets$172,946
Liabilities$114,565
Net Assets$58,381
Open 2022 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

2022

Revenue$1,532,955
Expenses$1,593,818
Net Income-$60,863
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.0
Gross Receipts
$1,532,955
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$150,031$141,352▼ $8,679
Cash and Non-Interest-Bearing Accounts$76,558$24,682▼ $51,876
Prepaid Expenses and Deferred Charges$2,790$2,790→ $0
Land, Buildings, and Equipment, Net$1,857$929▼ $928
Other Notes and Loans Receivable, Net$193$193→ $0
Total Assets$234,429$172,946▼ $61,483
Other Assets Total$3,000$3,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$50,836$61,219▲ $10,383
Other Liabilities$64,349$53,346▼ $11,003
Total Liabilities$115,185$114,565▼ $620
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$119,244$58,381▼ $60,863
Total Net Assets Fund Balance$119,244$58,381▼ $60,863
Total Liabilities and Net Assets / Fund Balance$234,429$172,946▼ $61,483

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$929$13,221$14,150
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jackie LatekExecutive DiFT$82,286$82,286

Board Members and Trustees

NameTitle
Lissa BrownBoard Chair
Allison EttingerBoard Member
Dustin DowBoard Member
Jody StevensonBoard Member
Lance CrawfordBoard Member
Tracy NovakBoard Member
Veronica EdwardsBoard Treasu
Brent BaileyMember/forme
Marlo SmithSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,532,955
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$90,198
Change in Net Assets
$-60,863
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,244,046
Other Expenses$349,772
Total Fundraising Expense$1,714
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$949,356$186,989-$1,136,345
Payroll Taxes$82,476$14,555-$97,031
Occupancy$42,122$4,681-$46,803
All Other Expenses$31,391$667-$32,058
Fees for Services Accounting$2,833$25,500-$28,333
Information Technology$24,556--$24,556
Insurance$9,161$5,722-$14,883
Fees for Services Other$11,169--$11,169
Other Employee Benefits$9,069$1,601-$10,670
Other Expenses$9,893--$9,893
Office Expenses$6,844$2,445-$9,289
Fees for Services Management$6,823$1,204-$8,027
Advertising$5,866-$1,714$7,580
Interest$3,829--$3,829
Payment Travel Entrtnmnt Publicly Ofcl$1,556--$1,556
Depreciation Depletion$313$615-$928
Total Functional Expenses$1,348,125$243,979$1,714$1,593,818
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$24,251
Mountaine Biz Works 2$14,141
Mountain Biz Works$10,522
Paycheck Protection Program Loan$4,432
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
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jackie Latek
Formed
2016
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
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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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt013221
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014150
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt210522
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt34432
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0EIDL LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MOUNTAINE BIZ WORKS 2
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MOUNTAIN BIZ WORKS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYCHECK PROTECTION PROGRAM LOAN
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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/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JACKIE LATEK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08287760551
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPARC FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SPAR
ReturnHeader/Filer/EIN0813036310
ReturnHeader/Filer/PhoneNum08285523771
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHEVILLE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0288012914
ReturnHeader/PreparerPersonGrp/PhoneNum08282813161
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRYSTAL Z GOLDSMITH CPA
ReturnHeader/ReturnTs02023-05-15T18:51:47-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JACKIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LATEK
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$172,946
Liabilities
$114,565
Net assets
$58,381
Revenue
$1,532,955
Expenses
$1,593,818
Net income
-$60,863
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