Overview
What is Spark?
Spark is a 501(c) nonprofit organization situated in Omaha, Nebraska, with a mission to foster economic development in the local community. They recognize the potential of philanthropic organizations, civic institutions, and other equity partners in driving change, while also acknowledging the unique insights of community residents and stakeholders. Spark serves as a bridge between these parties, leveraging its expertise, relationships, and funding to enhance neighborhoods through holistic development. This method considers social, political, economic, and physical assets essential for communities to thrive and prosper. Spark supports existing organizations, strengthens community assets, provides financing, and helps educate developers to reduce risk, thereby attracting investment to underdeveloped areas. The organization was established to champion community development by leading partnerships that create, implement, and evaluate holistic revitalization projects.
Official website here: www.sparkcdi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating. This score reflects a strong emphasis on accountability and finance, with a remarkable 90% score in this category. The organization demonstrates excellent governance, featuring a fully independent board and strong financial oversight mechanisms, including a solid audit and oversight committee.
Notably, Spark has a notable program expense ratio of 73.52%, indicating that a significant portion of its budget is directed towards its programs rather than administrative costs. This is a positive sign for potential donors looking to support effective initiatives. However, there are some areas for improvement, particularly in governance policies such as the absence of a whistleblower policy and a document retention and destruction policy, which are critical for promoting transparency.
In terms of culture and community, Spark received a commendable score of 87%, which highlights its efforts to engage and serve its community effectively. The organization also employs equity strategies well, reflecting its commitment to fairness and inclusion. Overall, while Spark shows many strengths, addressing the identified governance policy gaps could enhance its overall effectiveness and trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is Spark legitimate?
Spark is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spark 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: $163,510
Professional Fundraising Fees: $0
Other Salaries and Wages: $276,347
For more financial information, click here
Official website here: www.sparkcdi.org
What is the mission statement of Spark?
Spark, a 501(c) nonprofit organization, was established with a mission to champion community development. It achieves this goal by forming and leading partnerships that create, implement, and evaluate holistic revitalization projects. The organization brings a collaborative and community-based approach to economic development, recognizing that philanthropic organizations, civic institutions, and other equity partners have the resources to bring about change, while community residents and stakeholders best understand the community's needs. Spark serves as a bridge between these parties, leveraging its expertise, relationships, and funding to transform neighborhoods through a process of holistic development. The holistic development approach considers all foundational assets necessary for communities to thrive and prosper, including social, political, economic, and physical factors. Spark supports and supplements the work of existing organizations, builds upon community assets, provides funding, and helps educate developers to minimize risk and invest in these communities.
Official website here: www.sparkcdi.org
Who is the CEO of Spark?
Buey Tut is the President of Spark.
Official website here: www.sparkcdi.org
What is the revenue of Spark?
Spark's revenue in 2022 was $853,160.
Official website here: www.sparkcdi.org
Who are the executives of Spark and what are their salaries?
The average compensation at Spark during 2022 was $39,987. There are 11 employees and 8 volunteers at Spark.
Here are 8 key members and their salaries:
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- Compensation: $144,826
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- Other: $27,795
Official website here: www.sparkcdi.org
Where can I find the form 990 for Spark?
Spark's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sparkcdi.org
Learn more at the official website: www.sparkcdi.org
Mission Statement of Spark
Spark, a 501(c) nonprofit organization, was established with a mission to champion community development. The organization sets itself apart by forming and leading partnerships that create, implement, and evaluate holistic revitalization projects. Spark recognizes the potential of philanthropic organizations, civic institutions, and other equity partners to impact change. However, it acknowledges that community residents, business owners, and other stakeholders have a deep understanding of their community's needs. By serving as a bridge between these various parties, Spark leverages its expertise, relationships, and funding to transform neighborhoods through a process of holistic development.
Holistic development, as championed by Spark, applies rigorous real estate development methods while considering all the foundational assets necessary for communities to thrive and prosper. These assets include social, political, economic, and physical factors. By supporting and supplementing the work of existing organizations, building upon existing community assets, providing funding, leveraging resources to close financing gaps, and helping to educate and minimize risk for developers, Spark aims to encourage investment in underserved communities. Moreover, Spark works hand in hand with the community to identify and train community leaders to effectively advocate for themselves, ensuring a lasting impact for future generations.
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Impact
July, 2024
Spark's impact can be seen in the transformation of neighborhoods in the Omaha/Council Bluffs region through a holistic approach to economic development. By bridging the gap between philanthropic organizations, civic institutions, and community stakeholders, Spark leverages expertise, relationships, and funding to create positive change. Through their focus on holistic development, which addresses social, political, economic, and physical aspects of communities, Spark helps revitalize neighborhoods and empower residents to advocate for themselves. Their work not only supports existing organizations but also builds upon community assets, closes financing gaps, and educates developers on investing in underserved areas. Spark's collaborative and community-based approach is making a significant impact on community improvement and long-term prosperity.
This information is meant to be a general summary of Spark. 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.
- Investment Income: $1,788
- Gross Receipts: $903,208
Assets and Liabilities:
- Total Assets: $2,864,842
- Total Liabilities: $51,037
- Net Assets: $2,813,805
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Organization Details
Founding Year
2016
Phone
(402) 800-1242Principal Officer
Buey Tut
Main Address
1111 NORTH 13 STREET 311, OMAHA, NE, 68102
Website
www.sparkcdi.orgNTEE Category
Code: S31 - Community improvement
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