Ann Arbor Spark FY2021 filing

Not tax-deductible

Ann Arbor, MI501(c)(6)Since 1984EIN 38-2436899Revenue $11.8M in FY2021

On file with the IRSannarborusa.com330 East Liberty St Lower Level, 48104-2274 · Ann Arbor, MITax-exempt since Oct 1984

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Ann Arbor Spark advances the region by encouraging and supporting business acceleration, attraction, expansion and retention. Our organization identifies and meets the needs of companies at every stage, from start-ups to large organizations. Ann Arbor Spark collaborates with business, academic, government and community investment partners to position the region as a destination for innovation.

$1.3M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $79K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.3M
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $165K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$638K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
29
of 30 voting members
Looks good: 29 of 30 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$11.8M
-43% vs prior year
Spent
$13.6M
To programs
0%
Net assets
$15.0M
By yearFY2020–FY2024
Revenue
$11.8M
FY2021▼ -43%
Tap a bar for its year
Revenue by fiscal year
FY2020$20.8M
FY2021$11.8M
FY2022$9.4M
FY2023$8.5M
FY2024$12.8M
Expenses
$13.6M
FY2021▼ -28%
Tap a bar for its year
Expenses by fiscal year
FY2020$18.8M
FY2021$13.6M
FY2022$10.5M
FY2023$9.5M
FY2024$11.3M
Net assets
$15.0M
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$15.8M
FY2021$15.0M
FY2022$14.0M
FY2023$11.9M
FY2024$13.4M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1984.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

37 people listed on the 990; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
President/Ce
$364,684Pt VII · Sec A
VP of Bus. D
$167,708Pt VII · Sec A
VP of Capita
$141,359Pt VII · Sec A
VP of Entrep
$138,430Pt VII · Sec A
$130,776Pt VII · Sec A
SR. Vice Pre
$129,471Pt VII · Sec A
$126,260Pt VII · Sec A
Business Dev
$101,634Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Paul Krutko$395,347$393,297$467,056$364,684$376,069
Phil Santer$194,019$187,519$176,571$167,708$164,519
Joseph Simms———$129,471$185,500
William Mayer$162,204$158,855$151,799$138,430$143,500
Michael Flanagan$157,000$153,000$146,999$141,359—
Mike Flanagan————$138,000
Jenn Hayman$136,195$127,707———
Elizabeth Perpich———$126,260$131,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ann Arbor Spark executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Drives regional economic growth by supporting business startups, expansion, and attraction while promoting the area as a hub for innovation and career opportunities.

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Provided by the organization

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3 programs · in their own filed words · FY2021
01

Business INCUBATOR/ACCELERATOR services spark creates long term regional prosperity by accelerating the growth of start-ups and early-stage companies through support by offering direct and consultant services.

Pt IX · col B
02

Business development (expansion, attraction, retention) spark maximizes potential jobs and capital investment in the region and helps grow the region's GDP through the retention and expansion of established driving industry companies and the targeted attraction domestically and internationally of similar companies that fit the region's…

Pt IX · col B
03

Mi Stem Forward

In partnership with the michigan economic development corporation, spark works to promote stem talent retention in the state by running an internship matching program. The program recruits talented college students to populate a talent database, gathers impactful internship opportunities from innovative companies throughout the state…

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$165K
Grants paid · 979 grants · $11.0M · 2020–2024
Grand Valley State UniversityMI · FY2024$130,568
Mi-HqFY2024$75,000
Washtenaw Community CollegeFY2024$42,324
Tortillas Tita LLCFY2024$10,000
BchiraFY2024$7,923
The Mix Studios LLCFY2024$7,000
Beara Bakes LLCFY2024$7,000
B-Cubed BakeryFY2024$7,000
Unity Vibration KombuchaFY2024$5,199
Naias LLCFY2022$40,000
Association of Businesses of ColorFY2022$20,000
Ann Arbor Film Festival INCMI · FY2022$15,000
Middle WestFY2022$12,000
See all 979 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$11.8M
Ln 12
Gifts and grantsLn 1h$12.5M
Fees for servicesLn 2g$449K
Investment incomeLn 3$229K
Money outPt IX
$13.6M
Ln 25
Owns and owesPt X
$15.0M
net assets · Ln 32
Cash and savingsLn 1–2$8.5M
Total assetsLn 16$15.7M
LiabilitiesLn 26$638K
PeoplePt VI, VII
37
listed · VII A
PaidVII A8
Voting boardVI 1a30
IndependentVI 1b29
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.5M
Fees for servicesLn 2g$449K
Investment incomeLn 3$229K
Gains on assetsLn 7−$1.4M
Total revenueLn 12$11.8M
Assets in detailPt X, end of year
SavingsLn 2$8.5M
Cash and savings togetherLn 1–2$8.5M
InvestmentsLn 11–13$5.8M
Land, buildings, equipmentLn 10c$235K
Other assetsLn 15$94K
Total assetsLn 16$15.7M
LiabilitiesLn 26$638K
Net assetsLn 32$15.0M
OperationsPt I, VI
EmployeesI 5125
VolunteersI 6129
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$10.1M$8.5M
InvestmentsLn 11–13$5.2M$5.8M
Land, buildings, equipmentLn 10c$322K$235K
Total assetsLn 16$16.5M$15.7M
LiabilitiesLn 26$759K$638K
Net assetsLn 32$15.8M$15.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.3M
Grants to domestic individualsLn 2$155K
Pay of current officers, directors and key staffLn 5$694K
Other salaries and wagesLn 7$2.6M
Pension plan contributionsLn 8$54K
Other employee benefitsLn 9$254K
Payroll taxesLn 10$194K
Legal feesLn 11b$21K
Accounting feesLn 11c$29K
Lobbying feesLn 11d$12K
Other fees for servicesLn 11g$3.2M
Advertising and promotionLn 12$383K
Office expensesLn 13$103K
Information technologyLn 14$194K
OccupancyLn 16$809K
TravelLn 17$55K
Conferences, conventions and meetingsLn 19$28K
Depreciation, depletion and amortizationLn 22$112K
InsuranceLn 23$13K
Other expenses (24a–d)Ln 24$322K
All other expensesLn 24e$41K
Total functional expensesLn 25$13.6M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $12.8M$11.3M$1.5M$13.4M 990 PDF
FY2023 $8.5M$9.5M−$1.0M$11.9M 990 PDF
FY2022 $9.4M$10.5M−$1.1M$14.0M 990 PDF
FY2021 Viewing $11.8M$13.6M−$1.8M$15.0M 990 PDF
FY2020 $20.8M$18.8M$2.0M$15.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $11,784,140 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,956,493$12,474,849
I-9 Program service revenuePrior year $451,291$449,236
I-10 Investment incomePrior year $2,390,348−$1,139,945
I-11 Other revenue$0
I-12 Total revenuePrior year $20,798,132$11,784,140
I-13 Grants and similar amounts paidPrior year $10,662,721$4,460,160
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,688,665$3,826,305
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $4,446,488$5,296,614
I-18 Total expensesPrior year $18,797,874$13,583,079
I-19 Revenue less expensesPrior year $2,000,258−$1,798,939
Part VI · Governance 29 of 30 board members independent, no flags
VI-1a Voting members of the governing body30
VI-1b Independent voting members29
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $11,784,140 across 6 lines filed
VIII-1f All other contributions, gifts and grants$12,474,849
VIII-1h Total contributions, gifts and grants$12,474,849
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $449,236$449,236
VIII-3 Investment incomeExcluded from tax $229,026$229,026
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,368,971−$1,368,971
VIII-12 Total revenueRelated to mission $449,236 · Excluded from tax −$1,139,945$11,784,140
Part IX · Statement of functional expenses $13,583,079 across 21 lines filed
IX-1 Grants to domestic organizations$4,305,258
IX-2 Grants to domestic individuals$154,902
IX-5 Pay of current officers, directors and key staff$694,303
IX-7 Other salaries and wages$2,629,625
IX-8 Pension plan contributions$54,338
IX-9 Other employee benefits$254,487
IX-10 Payroll taxes$193,552
IX-11b Legal fees$21,310
IX-11c Accounting fees$28,993
IX-11d Lobbying fees$12,168
IX-11g Other fees for services$3,173,181
IX-12 Advertising and promotion$383,452
IX-13 Office expenses$103,261
IX-14 Information technology$193,534
IX-16 Occupancy$809,451
IX-17 Travel$54,847
IX-19 Conferences, conventions and meetings$28,455
IX-22 Depreciation, depletion and amortization$111,988
IX-23 Insurance$13,106
IX-24 Other expenses (24a–d)$321,542
IX-24e All other expenses$41,326
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$13,583,079
Part X · Balance sheet $15,665,812 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $10,065,488$8,541,065
X-4 Accounts receivableStart of year $813,832$801,220
X-9 Prepaid expenses and deferred chargesStart of year $59,018$183,836
X-10c Land, buildings and equipment, netStart of year $321,694$234,807
X-13 Program-related investmentsStart of year $5,206,473$5,810,804
X-15 Other assetsStart of year $55,043$94,080
X-16 Total assetsStart of year $16,521,548$15,665,812
X-17 Accounts payable and accrued expensesStart of year $735,982$621,668
X-19 Deferred revenueStart of year $23,221$16,557
X-26 Total liabilitiesStart of year $759,203$638,225
X-27 Net assets without donor restrictionsStart of year $15,098,397$14,150,953
X-28 Net assets with donor restrictionsStart of year $663,948$876,634
X-32 Total net assets or fund balancesStart of year $15,762,345$15,027,587
X-33 Total liabilities and net assetsStart of year $16,521,548$15,665,812
Part XI · Reconciliation of net assets $15,027,587 net assets at year end
XI-1 Total revenue$11,784,140
XI-2 Total expenses$13,583,079
XI-3 Revenue less expenses−$1,798,939
XI-4 Net assets at start of year$15,762,345
XI-5 Net unrealized gains (losses) on investments$1,064,181
XI-10 Net assets at end of year$15,027,587

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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