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Ann Arbor Spark Foundation FY2022 filing

Tax-deductible

Ann Arbor, MI501(c)(3)Foundations & Grantmakers EIN 38-3416745Revenue $207K in FY2022

On file with the IRSannarborusa.org330 East Liberty St, 48104-2274 · Ann Arbor, MITax-exempt since Oct 1998Supporting organization — 509(a)(3)

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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.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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 $21K a year · 4% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $185K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$101K
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$207K
-17% vs prior year
Spent
$275K
To programs
100%
Net assets
$65K
By yearFY2020–FY2024
Revenue
$207K
FY2022▼ -17%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$250K
FY2022$207K
FY2023$205K
FY2024$183K
Expenses
$275K
FY2022▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$246K
FY2022$275K
FY2023$220K
FY2024$177K
Net assets
$65K
FY2022▼ -51%
Tap a bar for its year
Net assets by fiscal year
FY2020$130K
FY2021$134K
FY2022$65K
FY2023$50K
FY2024$56K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 1998.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $275K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Kelly Sexton
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Tiffany Ford
Secretary
$0Pt VII · Sec A
David Parsigian
Past Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Paul Krutko
President/Ce
$0Pt VII · Sec A
See Ann Arbor Spark Foundation 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

Funds and supports economic development by encouraging business growth and attraction.

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Provided by the organization

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2 programs · $275K · in their own filed words · FY2022
01

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…

$154Kprogram expense
02

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…

$121Kprogram expense

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
Dte Energy FoundationFY2024$110K
Fidelity Investments Charitable Gift FundFY2024$50K
Consumers Energy FoundationFY2024$15K
American Online Giving Foundation INCFY2024$10K
Total grants receivedfrom 4 funders$185K
See all 4 funders →
Grants paid · 5 grants · $1.8M · 2020–2024
Ann Arbor SparkMI · FY2024$140,000
Ann Arbor SparkMI · FY2023$136,000
Ann Arbor SparkMI · FY2022$121,000
Ann Arbor SparkMI · FY2021$136,000
Ann Arbor SparkMI · FY2020$1,260,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$207K
Ln 12
Gifts and grantsLn 1h$207K
Money outPt IX
$275K
Ln 25
Programscol B$275K
Owns and owesPt X
$65K
net assets · Ln 32
Cash and savingsLn 1–2$165K
Total assetsLn 16$166K
LiabilitiesLn 26$101K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$207K
Total revenueLn 12$207K
Assets in detailPt X, end of year
CashLn 1$165K
Cash and savings togetherLn 1–2$165K
Total assetsLn 16$166K
LiabilitiesLn 26$101K
Net assetsLn 32$65K
OperationsPt I, VI
EmployeesI 50
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 FY22End FY22
Cash and savingsLn 1–2$101K$165K
Total assetsLn 16$201K$166K
LiabilitiesLn 26$67K$101K
Net assetsLn 32$134K$65K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$121K$121K
Other fees for servicesLn 11g$91K$91K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$7K$7K
Information technologyLn 14$339$339
OccupancyLn 16$27K$27K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$19K$19K
Other expenses (24a–d)Ln 24$6K$6K
Total functional expensesLn 25$275K$275K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $183K$177K$6K$56K 990 PDF
FY2023 $205K$220K−$15K$50K 990 PDF
FY2022 Viewing $207K$275K−$68K$65K 990 PDF
FY2021 $250K$246K$4K$134K 990 PDF
FY2020 $1.6M$1.6M−$30K$130K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $206,714 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $250,150$206,714
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $250,150$206,714
I-13 Grants and similar amounts paidPrior year $136,000$121,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $110,367$154,209
I-18 Total expensesPrior year $246,367$275,209
I-19 Revenue less expensesPrior year $3,783−$68,495
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $206,714 across 3 lines filed
VIII-1f All other contributions, gifts and grants$206,714
VIII-1h Total contributions, gifts and grants$206,714
VIII-12 Total revenue$206,714
Part IX · Statement of functional expenses $275,209 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $121,000$121,000
IX-11g Other fees for servicesPrograms $90,634$90,634
IX-12 Advertising and promotionPrograms $3,744$3,744
IX-13 Office expensesPrograms $7,086$7,086
IX-14 Information technologyPrograms $339$339
IX-16 OccupancyPrograms $26,697$26,697
IX-17 TravelPrograms $1,318$1,318
IX-19 Conferences, conventions and meetingsPrograms $18,681$18,681
IX-24 Other expenses (24a–d)Programs $5,710$5,710
IX-25 Total functional expensesPrograms $275,209 · Management $0 · Fundraising $0$275,209
Part X · Balance sheet $166,236 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $100,706$165,236
X-4 Accounts receivableStart of year $100,000$1,000
X-16 Total assetsStart of year $200,706$166,236
X-17 Accounts payable and accrued expensesStart of year $67,118$101,143
X-26 Total liabilitiesStart of year $67,118$101,143
X-27 Net assets without donor restrictionsStart of year $133,588$65,093
X-32 Total net assets or fund balancesStart of year $133,588$65,093
X-33 Total liabilities and net assetsStart of year $200,706$166,236
Part XI · Reconciliation of net assets $65,093 net assets at year end
XI-1 Total revenue$206,714
XI-2 Total expenses$275,209
XI-3 Revenue less expenses−$68,495
XI-4 Net assets at start of year$133,588
XI-10 Net assets at end of year$65,093

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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