Sparc Foundation INC EIN 81-3036310

Sparc Foundation INC FY2021 filing

EIN  81-3036310 Public charity (501(c)(3)) Asheville, NC Founded 2016
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Verified accurate 9/4/26 · see original filing: IRS
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Size
$1–10M
What they do
Helps people avoid unnecessary and costly institutional care.
Leadership
Jackie Latek · Executive Di · $75K
Money in and out
$1.5M revenue, $1.4M expenses
Bottom line
84% program efficiency

Helps people avoid unnecessary and costly institutional care. For fiscal year 2021 it reported $1.5M in revenue, $1.4M in expenses, and $119K in net assets.Pt I

Where the money goes · FY2021
Total revenue
$1.5M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$119K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $89K
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.16
Program efficiency
84%
of spending reaches programs
Operating runway
0.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$1.5M
FY2021
Expenses
$1.4M
FY2021
Total assets
$234K
FY2021
Total liabilities
$115K
FY2021
Total revenue
$1.5M
Pt VIII · Ln 12
Total expenses
$1.4M
Pt IX · Ln 25
Net assets
$119K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$89K
Total assetsPt X · Ln 16$234K
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

1 program service account for $1.2M of program spending, described in the organization's own filed words · FY2020.
01

Sparc foundation's mission was conducted and accomplished in keeping people out of unnecessary and expensive institutional settings.

$1.2Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSparc Foundation INC
EINHdr · item D81-3036310
Principal addressHdr · item CAsheville, NC
WebsiteHdr · item Jthesparcfoundation.org
Year of formationHdr · item L2016
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20)
Ruling yearIRS BMFMay 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Di
$74,868Pt VII · Sec A
Board Treasu
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jackie Latek’s $90K as Executive Director is at the 26th percentile of top reported officer pay among 3864 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Jackie Latek$90,000$90,464
Jackie M Latek$89,808
Jackie Latek$82,286$74,868

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.

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Statement of Revenue

Part VIII
Contributions & grants100%$1.5M
Program service revenue$155
— government grantsLn 1e$1.5M
Total revenueLn 12$1.5M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.16
Program services84%$1.2M
Management & general16%$226K
Total functional expensesLn 25$1.4M

Balance Sheet

Part X · end of year
CashLn 1$77K
Total assetsLn 16$234K
Total liabilitiesLn 26$115K
Total net assetsLn 32$119K
Months of cash on handcomputed0.7

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $77K · Operating expenses/yr $1.4M
0.7 months
Where the money goes
Program services
Program services $1.2M · Total expenses $1.4M
84%
Management & General
Management & general $226K · Total expenses $1.4M
16%
Fundraising
Fundraising $0 · Total expenses $1.4M
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $16K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $1.5M · Total revenue $1.5M
100%
Government reliance
Government grants $1.5M · Total revenue $1.5M
99%
Earned-income share
Program service revenue $155 · Total revenue $1.5M
0%
Investment reliance
Investment income $0 · Total revenue $1.5M
0%
Program self-sufficiency
Program service revenue $155 · Total expenses $1.4M
0%
Growth & trend
Revenue growth (YoY)
This year $1.5M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $119K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.5M · Expenses $1.4M
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $234K
Net-asset ratio
Net assets $119K · Total assets $234K
51%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $234K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jackie Latek · Reported title EXECUTIVE DI · Highest reported compensation $75K · Total expenses $1.4M
5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.1M · Total expenses $1.4M
83%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 84%
Overhead ratio 16%
Fundraising cost ratio 0%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$2.0M revenue · ⤓ 990 PDF
FY2023$2.0M revenue · ⤓ 990 PDF
FY2022$1.5M revenue · ⤓ 990 PDF
FY2021$1.5M revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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