Sparc Endowment Fund Inc
- Assets
- $7.0m
- Revenue
- $209.3k
- Investments
- $2.2m
- Employees
- 0
- Location
- Springfield, IL
- Founding
- 05/1991
- Data as of
- 06/2021
- EIN
- 37-1232878
Organization Overview
Sparc Endowment Fund Inc is located in Springfield, IL. The organization was established in 1991. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sparc Endowment Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Sparc Endowment Fund Inc generated $209.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.2%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RECEIVE/MAINTAIN FUNDS OF REAL OR PERSONAL PROPERTY AND APPLY THE INCOME THEREFROM TO SUPPORT PROGRAMS OF SPARC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RECEIVE/MAINTAIN FUNDS OF REAL OR PERSONAL PROPERTY AND APPLY THE INCOME THEREFROM TO SUPPORT PROGAMS OF SPARC TO IMPROVE THE GENERAL WELFARE OF PERSONS WITH DEVELOPMENTAL DISABILITIES.
TO RECEIVE/MAINTAIN FUNDS OF REAL OR PERSONAL PROPERTY AND APPLY THE INCOME THEREFROM TO SUPPORT PROGAMS OF SPARC TO IMPROVE THE GENERAL WELFARE OF PERSONS WITH DEVELOPMENTAL DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Buraski Vice Chair | OfficerTrustee | 1 | $0 |
E Zachary Dinardo Chair | OfficerTrustee | 1 | $0 |
John Howerter Treasurer | OfficerTrustee | 1 | $0 |
Doug Mcdonald Secretary | Officer | 1 | $0 |
Greg O'connor Secretary | Officer | 1 | $0 |
Jim Bremhorst Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,386 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,386 |
| Total Program Service Revenue | $0 |
| Investment income | $46,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$18,918 |
| Net Gain/Loss on Asset Sales | $178,227 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $209,293 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,106,108 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $3,050 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,857 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,123,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,744 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,100 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $841 |
| Net Land, buildings, and equipment | $4,670,531 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,233,780 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,033,996 |
| Accounts payable and accrued expenses | $14,563 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,533,713 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,548,276 |
| Net assets without donor restrictions | $4,366,938 |
| Net assets with donor restrictions | $118,782 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,033,996 |
Grants Awarded
Over the last fiscal year, Sparc Endowment Fund Inc has awarded $2,212,216 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Springfield, IL PURPOSE: TO FUND THE SERVICES OF SPARC | $1,106,108 |
Springfield, IL PURPOSE: TO FUND THE SERVICES OF SPARC | $1,106,108 |
Springfield, IL PURPOSE: TO FUND THE SERVICES OF SPARC | $0 |
Springfield, IL PURPOSE: TO FUND THE SERVICES OF SPARC | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Apostolic Christian Lifepoints Inc Morton, IL | $42,471,151 | $22,063,470 |
Knox County Association For Remarkable Citizens Inc Vincennes, IN | $24,536,291 | $19,956,533 |
New Hope Village Carroll, IA | $16,084,175 | $19,892,744 |
St Colettas Of Illinois Tinley Park, IL | $3,321,726 | $15,993,167 |
Helping Hand Center Countryside, IL | $22,525,393 | $16,246,364 |
Paladin Inc Michigan City, IN | $9,460,565 | $15,902,073 |
Aspire Of Illinois Hillside, IL | $18,983,817 | $18,724,686 |
Hillcroft Services Inc Muncie, IN | $16,936,926 | $14,933,830 |
Link Associates West Des Moines, IA | $2,870,425 | $15,095,571 |
Bona Vista Programs Inc Kokomo, IN | $19,070,860 | $15,130,764 |
The Arc Of The Quad Cities Area Rock Island, IL | $28,274,211 | $14,437,427 |
Hope Haven Area Development Center Corporation Burlington, IA | $12,948,904 | $15,411,343 |