Spark Foundation Incorporated
Nonprofit profile at a glance
- EIN
- 822511913
- IRS 990-EZ coverage
- 2017–2018
- Forms available
- Form 990-EZ 2018
- Location
- New London, CT, USA
- Phone
- 5402208017
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $49,403
- Expenses
- $47,712
- Assets
- $1,791
Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
4 people listed
People named in this filing
- Kathryne Presto (Director)
- George Ryan (Director)
- Victoria Mueller (Director)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Raise, hold, and distribute funds and other resources to support creativity, revitalization, and civic activity through Spark Makerspace, its community, and makers in the Thames River region.
What it reported doing in 2018
Raised money and supported the relocation of Spark Makerspace to ensure it's continuation by reducing monthly overhead expenses.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 97
- Transparency & Controls: 82
- Sustainability: 33
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.7%; rating input score 96
- Program expense ratio: 99%; rating input score 99
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 3.4%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 0.04; rating input score 6; 6th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 158.3% per year; rating input score 100; 99th percentile among comparable filings
- Revenue growth: 159.3% per year; rating input score 100; 100th percentile among comparable filings
- Asset growth: 178.8% per year; rating input score 100; 100th percentile among comparable filings
Details
- Where the money goes: 95.7% of revenue deployed · 99% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $47K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Filing history: 2 filing years from 2017 to 2018
- Contacts: How to reach this organization
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Total-asset coverage ratio scored 6/100.
- Review — Sustainability: Operating margin scored 53/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.