Sparc Inc

Analysis

Sparc Inc is a registered charity in United States, based in Yorktown HTS, NY. It received its IRS tax-exemption ruling in December 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sparc Inc reported income of $949k and spending of $963k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $949k (-8.6%), an average of -2.2% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sparc Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Missions for the Nations Ministry ($948k), Sparta-White County Family YMCA ($949k) and Adaptive Design Association Inc ($948k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $117k (12% of expenses). Other salaries and wages came to $253k. At year end it held assets of $685k against liabilities of $74k, net assets of $611k. It reported 10 employees.