ANN ARBOR SPARK FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

PAUL KRUTKO

Phone

7347619317

Tax Period

2023-01-01 to 2023-12-31

ANN ARBOR SPARK FOUNDATION, founded in 1998, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $205K in total revenue in fiscal year 2023.

Mission

THE ANN ARBOR SPARK FOUNDATION PROVIDES FUNDING AND SUPPORT FOR THE ACTIVITIES OF ANN ARBOR SPARK, A NOT FOR PROFIT 501(C)6 CORPORATION WHICH ADVANCES ECONOMIC DEVELOPMENT IN THE REGION BY ENCOURAGING AND SUPPORTING BUSINESS ACCELERATION, ATTRACTION, EXPANSION AND RETENTION.

Program Service Accomplishments

Program 1

Expenses: $136,000

THE PRIMARY CHARITABLE PURPOSE OF THE SPARK FOUNDATION IS TO RECEIVE AND ADMINISTER FUNDS FOR THE ENCOURAGEMENT, PROMOTION AND SUPPORT OF AREA DEVELOPMENT, RE-DEVELOPMENT AND RENEWAL; ACTIVITIES AND PROJECTS DESIGNED TO ATTRACT NEW INDUSTRY AND RETAIN EXISTING INDUSTRY; ACTIVITIES AND PROJECTS DESIGNED TO PROMOTE THE AREA; AND OTHER PROJECTS AND ACTIVITIES AIMED AT COMBATING COMMUNITY DETERIORATION IN ORDER TO LESSEN THE BURDEN OF GOVERNMENT. THESE GRANTS FUNDS WILL BE USED TO ASSIST IN THE ATTRACTION OF NEW INDUSTRY AND RETENTION OF EXISTING INDUSTRY IN WASHTENAW COUNTY FOR THE PURPOSE OF LESSENING THE BURDEN OF GOVERNMENT IN THOSE EFFORTS, TO BE APPLIED AS PROVIDED IN THE BUDGET ATTACHED HERETO. THE GRANT FUNDS MAY NOT BE UTILIZED FOR ANY LOBBYING LEGISLATIVE BODIES.

Program 2

Expenses: $83,916

MARKETING ANGEL FUND INVESTMENT ACTIVITY IN MICHIGAN: MARKETING AND EDUCATING NEW INVESTORS AS ANGELS (HIGH NET WORTH INDIVIDUALS WHO INVEST IN STARTUP COMPANIES). THE SERVICES AND SUPPORT PROVIDED TO EARLY STAGE TECHNOLOGY COMPANIES AND ENTREPRENEURS THROUGH OUR GROUP OF INVESTORS ENHANCES MICHIGAN'S ENTREPRENEURIAL ECOSYSTEM BY COORDINATING WITH EXISTING SUCCESSFUL PROGRAMS TO FILL THE PRIVATE FUNDING GAP FOR ENTREPRENEURS IN THE ECOSYSTEM THAT CREATES NEW TECH COMPANIES, NEW EARLY STAGE TECH JOBS, AND CREATES FOLLOW-ON FUNDING TO TECH COMPANIES. OUR CONTRIBUTION IS TO FOCUS ON EDUCATION AND ENGAGEMENT WITHIN THIS COMMUNITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $202,000

Program Service Revenue $0

Investment Income $2,858

Other Revenue $0

TOTAL REVENUE $204,858

Expense Breakdown

Grants Paid $136,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $219,916

Other Expenses $83,916

TOTAL EXPENSES $219,916

Year-over-Year Comparison

	2023	2022	Change
Revenue	$204,858	$206,714	0.0%
Expenses	$219,916	$275,209	-0.2%
Net Income	$-15,058	$-68,495	-0.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$428,836

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID RUUD	CHAIR	0.25	Officer Director	$0	$0	$0
KELLY SEXTON	VICE CHAIR	0.25	Officer Director	$0	$0	$0
DAVID SNODGRASS	TREASURER	0.25	Officer Director	$0	$0	$0
TIFFANY FORD	SECRETARY	0.25	Officer Director	$0	$0	$0
DAVID PARSIGIAN	PAST CHAIR	0.25	Officer Director	$0	$0	$0
TOM CRAWFORD	CFO	0.25	Officer	$0	$0	$0
PAUL KRUTKO	PRESIDENT/CE	1.00	Officer	$0	$35,539	$428,836

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$204,858	$219,916	$85,905	$-15,058
2022	$206,714	$275,209	$166,236	$-68,495
2021	$250,150	$246,367	$200,706	$3,783
2020	$1,613,230	$1,643,671	$139,187	$-30,441
2019	$307,500	$421,589	$183,509	$-114,089
2018	$352,000	$516,558	$364,931	$-164,558