Sparks of Life Inc

Analysis

Sparks of Life Inc is a registered charity in United States, based in Lakewood, NJ. It received its IRS tax-exemption ruling in February 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sparks of Life Inc reported income of $578k and spending of $611k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $297k to $578k (+95%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 84%. Over the whole period it spent 118% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sparks of Life Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 77th percentile within NJ. Charities of a similar size with the same main cause include 21st Century Child Development and Learning Center Inc ($578k), Bloomin Boutique ($578k) and Aroostook Hospice Foundation ($578k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 3.4% of the total. Other salaries and wages came to $174k. At year end it held assets of $300k against liabilities of $636k, net assets of -$336k. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.