Corte Madera Larkspur School Foundation
Nonprofit profile at a glance
- EIN
- 942934350
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Larkspur, CA, USA
- Phone
- 4159277273
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Primary, Elementary Schools
Reported finances
- Revenue
- $1,544,457
- Expenses
- $1,533,906
- Assets
- $855,641
- Liabilities
- $305,212
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- JANELLE MEYER (VICE PRESIDENT)
- KATY MILLER (VICE PRESIDENT)
- JAIME HEAPS (EXECUTIVE DIRECTOR (FROM 7/1/24))
Highest reported compensation
- SARA RYBA (BOARD CHAIR (ED THRU 6/30/24)): $52,527 total reported compensation
- JAIME HEAPS (EXECUTIVE DIRECTOR (FROM 7/1/24)): $52,374 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provide financial aid and support by way of gifts, grants, or loans for selected programs to be provided by school districts or other public or private organizations or groups which further educational and related needs of minors and adults.
What it reported doing in 2024
Spark is the local education foundation supporting the larkspur-corte madera school district (lcmsd). Spark raises funds to bridge the gap between public funding and the cost of high-quality education, ensuring students have access to vital programs not fully covered by state and local revenue. Spark funds salaries for teachers in music, art, stem, counseling, wellness, social justice, and leadership, as well as enrichment programs that enhance student learning. Through annual fundraising efforts, including an annual giving campaign, business sponsorships, and community events, spark helps provide a well-rounded education for all students in lcmsd.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 94
- Accountability: 82
- Sustainability: 34
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.5%; rating input score 81
- Program expense ratio: 81.1%; rating input score 81
- Fundraising efficiency: $7.64 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th 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: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 0.7%; rating input score 38; 38th percentile among comparable filings
- Total-asset coverage ratio: 0.56; rating input score 26; 26th percentile among comparable filings
- Liabilities to assets ratio: 0.36; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 6.8%; rating input score 48; 48th percentile among comparable filings
Growth
- Program expense growth: 2.4% per year; rating input score 100; 28th percentile among comparable filings
- Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: -2.8% per year; rating input score 0; 10th percentile among comparable filings
Details
- Where the money goes: 80.5% of revenue deployed · 81.1% of spending went to programs
- Governance: 11 of 11 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.2M in reported program spending
- Leadership: top reported pay $53K · 12 people listed
- Consistency: 26 of 26 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 29/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 38/100.
- High — Sustainability: Total-asset coverage ratio scored 26/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.
- Moderate — Sustainability: Officer compensation ratio scored 48/100.