Ann Arbor Spark Foundation
Nonprofit profile at a glance
- EIN
- 383416745
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Ann Arbor, MI, USA
- Phone
- 7347619317
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Philanthropy, Charity, Voluntarism Promotion
Reported finances
- Revenue
- $182,887
- Expenses
- $177,352
- Assets
- $91,440
- Liabilities
- $35,870
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Paul Krutko (President & CEO)
Highest reported compensation
- Paul Krutko (President & CEO): $438,044 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Ann Arbor SPARK Foundation is an affiliated 501(c)(3) nonprofit organization designed to solicit contributions and promote the charitable purposes of SPARK.
What it reported doing in 2024
The primary charitable purpose of the SPARK Foundation is to receive and administer funds for the encouragement, promotion and support of area development, re-development and renewal; activities and projects designed to attract new industry and retain existing industry; activities and projects designed to promote the area; and other projects and activities aimed at combating community deterioration in order to lessen the burden of government. These grants funds will be used to assist in the attraction of new industry and retention of existing industry in Washtenaw County for the purpose of lessening the burden of government in those efforts, to be applied as provided in the budget attached hereto. The grant funds may not be utilized for any lobbying legislative bodies.
Operating model
- Revenue model
- Donor-supported. 99% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 79% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 71
- Accountability: 95
- Sustainability: 32
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97%; rating input score 97
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 0.52; rating input score 25; 25th percentile among comparable filings
- Liabilities to assets ratio: 0.39; rating input score 13; 13th percentile among comparable filings
- Officer compensation ratio: 24.1%; rating input score 15; 15th percentile among comparable filings
Growth
- Program expense growth: -1.7% per year; rating input score 0; 24th percentile among comparable filings
- Revenue growth: -14% per year; rating input score 0; 4th percentile among comparable filings
- Asset growth: -26.4% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 97% of revenue deployed · 100% of spending went to programs
- Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $177K in reported program spending
- Leadership: top reported pay $438K · 7 people listed · 0 of 6 pay-setting controls reported
- Consistency: 15 of 15 current checks pass
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 2 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 46/100.
- High — Sustainability: Total-asset coverage ratio scored 25/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 13/100.
- High — Sustainability: Officer compensation ratio scored 15/100.