Spark Makerspace Co

Analysis

Spark Makerspace Co is a registered charity in United States, based in New London, CT. It received its IRS tax-exemption ruling in July 2019, 7 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, Spark Makerspace Co reported income of $155k and spending of $157k, spending 101% of its income. Across the 4 years on record, from December 2020 to December 2023, income fell from $217k to $155k (-28%), an average of -11% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 56% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Spark Makerspace Co sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 45th percentile within CT. Charities of a similar size with the same main cause include Community Venture Partners Inc ($155k), Ageless Senior Citizens Inc ($155k) and Hope Clinic Inc ($155k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 104% of the total. Other salaries and wages came to $57k. At year end it held assets of $557k against liabilities of $131k, net assets of $427k.