Overview
What is Sparc Foundation Inc?
Sparc Foundation Inc, located in Asheville, North Carolina, is a dedicated nonprofit organization with a mission to prevent individuals from entering unnecessary and costly institutional settings. With a team of 45 employees, Sparc Foundation works tirelessly to achieve this goal, providing essential services that help people lead more independent lives. While specific details about their programs and initiatives are not provided in the information, it's clear that their core focus is on promoting community-based support and resources, aiming to reduce reliance on expensive institutional care.
Official website here: www.thesparcfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
Sparc Foundation Inc has received a two-star rating from Charity Navigator, indicating that the organization has areas requiring significant improvement. With an overall score of 68%, the foundation demonstrates strong governance practices, as reflected in its 100% independent board members and adherence to various policies regarding conflict of interest and whistleblower protections.
However, the organization faces challenges in financial transparency, as it has not provided necessary financial statements, which resulted in a score of zero for that criterion. Although its program expense ratio is commendable at 83.85%, reflecting a strong focus on programmatic efforts, the liabilities to assets ratio of 67.95% raises concerns about its financial health and sustainability. This combination of strengths and weaknesses indicates that potential donors should consider these factors when evaluating the foundation's effectiveness and reliability.
This AI summary has been generated from information found on Charity Navigator.
Is Sparc Foundation Inc legitimate?
Sparc Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sparc Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,136,345
For more financial information, click here
Official website here: www.thesparcfoundation.org
What is the mission statement of Sparc Foundation Inc?
The Sparc Foundation's mission is centered around preventing individuals from unnecessarily and excessively entering expensive institutional settings. They strive to achieve this objective through their dedicated efforts and initiatives. The foundation's mission was successfully executed, resulting in keeping people out of such costly and potentially unnecessary settings. The Sparc Foundation's work aims to promote alternative, potentially more suitable, and less expensive solutions for individuals in need.
Official website here: www.thesparcfoundation.org
Who is the CEO of Sparc Foundation Inc?
Jackie Latek is the Executive Di of Sparc Foundation Inc.
Official website here: www.thesparcfoundation.org
What is the revenue of Sparc Foundation Inc?
Sparc Foundation Inc's revenue in 2022 was $1,532,955.
Official website here: www.thesparcfoundation.org
Who are the executives of Sparc Foundation Inc and what are their salaries?
The average compensation at Sparc Foundation Inc during 2022 was $25,252. There are 45 employees at Sparc Foundation Inc.
Here are 10 key members and their salaries:
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Official website here: www.thesparcfoundation.org
Where can I find the form 990 for Sparc Foundation Inc?
Sparc Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thesparcfoundation.org
Learn more at the official website: www.thesparcfoundation.org
Mission Statement of Sparc Foundation Inc
Sparc Foundation Inc is committed to a mission that aims to prevent individuals from unnecessarily and excessively entering expensive institutional settings. This mission is a proactive approach taken by the organization, striving to keep people out of such environments. By accomplishing this goal, Sparc Foundation Inc contributes to a more efficient and cost-effective system for addressing various needs, without resorting to expensive institutional settings.
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Impact
July, 2024
Sparc Foundation Inc's impact lies in its mission to keep people out of unnecessary and expensive institutional settings. By providing human services in Asheville, NC, the organization effectively works towards this goal, ensuring individuals have the necessary support and resources to live independently and avoid costly institutional care. The impact of Sparc Foundation Inc can be seen in the tangible outcomes of individuals being able to lead fulfilling lives within their communities, thanks to the organization's dedicated efforts.
This information is meant to be a general summary of Sparc Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $1,532,955
Assets and Liabilities:
- Total Assets: $172,946
- Total Liabilities: $114,565
- Net Assets: $58,381
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Organization Details
Founding Year
2016
Phone
(828) 552-3771Principal Officer
Jackie Latek
Main Address
225 EAST CHESTNUT STREET, ASHEVILLE, NC, 28801
Website
www.thesparcfoundation.orgNTEE Category
Code: P20 - Human services
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