Ann Arbor Spark Foundation
- Assets
- $166.2k
- Revenue
- $206.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 10/1998
- Data as of
- 12/2022
- EIN
- 38-3416745
Organization Overview
Ann Arbor Spark Foundation is located in Ann Arbor, MI. The organization was established in 1998. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ann Arbor Spark Foundation 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 12/2022, Ann Arbor Spark Foundation generated $206.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.8% each year . All expenses for the organization totaled $275.2k during the year ending 12/2022. While expenses have increased by 25.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ANN ARBOR SPARK FOUNDATION PROVIDES FUNDING AND SUPPORT FOR THE ACTIVITIES OF ANN ARBOR SPARK, A NOT FOR PROFIT 501(C)6 CORPORATION WHICH ADVANCES ECONOMIC DEVELOPMENT IN THE REGION BY ENCOURAGING AND SUPPORTING BUSINESS ACCELERATION, ATTRACTION, EXPANSION AND RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
MARKETING ANGEL FUND INVESTMENT ACTIVITY IN MICHIGAN: MARKETING AND EDUCATING NEW INVESTORS AS ANGELS (HIGH NET WORTH INDIVIDUALS WHO INVEST IN STARTUP COMPANIES). THE SERVICES AND SUPPORT PROVIDED TO EARLY STAGE TECHNOLOGY COMPANIES AND ENTREPRENEURS THROUGH OUR GROUP OF INVESTORS ENHANCES MICHIGAN'S ENTREPRENEURIAL ECOSYSTEM BY COORDINATING WITH EXISTING SUCCESSFUL PROGRAMS TO FILL THE PRIVATE FUNDING GAP FOR ENTREPRENEURS IN THE ECOSYSTEM THAT CREATES NEW TECH COMPANIES, NEW EARLY STAGE TECH JOBS, AND CREATES FOLLOW-ON FUNDING TO TECH COMPANIES. OUR CONTRIBUTION IS TO FOCUS ON EDUCATION AND ENGAGEMENT WITHIN THIS COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Ruud Chair | OfficerTrustee | 0.25 | $0 |
Kelly Sexton Vice Chair | OfficerTrustee | 0.25 | $0 |
David Snodgrass Treasurer | OfficerTrustee | 0.25 | $0 |
Tiffany Ford Secretary | OfficerTrustee | 0.25 | $0 |
David Parsigian Past Chair | OfficerTrustee | 0.25 | $0 |
Tom Crawford CFO | Officer | 0.25 | $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 | $206,714 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,714 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $206,714 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $121,000 |
| 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 | $0 |
| 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 | $0 |
| Fees for services: Other | $90,634 |
| Advertising and promotion | $3,744 |
| Office expenses | $7,086 |
| Information technology | $339 |
| Royalties | $0 |
| Occupancy | $26,697 |
| Travel | $1,318 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,681 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,710 |
| Total functional expenses | $275,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,236 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $166,236 |
| Accounts payable and accrued expenses | $101,143 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $101,143 |
| Net assets without donor restrictions | $65,093 |
| Net assets with donor restrictions | $0 |
| 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 | $166,236 |