Sprocket Inc

EIN: 822967525 501(c)(3) Education

Paducah, KY

Total Revenue
$969,651
Total Expenses
$789,420
Total Assets
$2,873,721
Net Assets
$1,152,138
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
KY
Principal Officer
Monica Bilak
Phone
2705568240
Tax Period
2024-07-01 to 2025-06-30

Sprocket Inc, founded in 2018, is a small nonprofit in the Education sector that reported $970K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $180K, a strong 19% operating margin.

Mission

We serve as a pilot to help develop educational programs for the Paducah Innovations Hub as well as Entreprenuerial Innovations in the region.

Program Service Accomplishments

Program 1
Expenses: $572,716 Revenue: $969,651

Educational Programs that promote entrprenuership and community learning developed and hosted by Sprocket

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $846,979
Program Service Revenue $117,030
Investment Income $5,642
Other Revenue $0
TOTAL REVENUE $969,651

Expense Breakdown

Grants Paid $67,217
Salaries & Benefits $318,824
Fundraising Expenses $0
Program Expenses $572,716
Other Expenses $403,379
TOTAL EXPENSES $789,420

Year-over-Year Comparison

2024 2023 Change
Revenue $969,651 $1,039,442 -0.1%
Expenses $789,420 $758,470 +0.0%
Net Income $180,231 $280,972 -0.4%
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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Governance

Voting Members
7
Independent Members
7
Employees
7
Volunteers
8

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
4
$0
Total Directors
5
$111,300
Key Employees
1
$111,300
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Monica Bilak Executive Director 40.00
Director Key Emp Highest
$111,300 $0 $111,300
Inez Hutchins Board Chair 1.00
Officer Director
$0 $0 $0
Jared Riley Vice Chair 1.00
Officer Director
$0 $0 $0
Terry Bradley Treasurer 1.00
Officer Director
$0 $0 $0
Terri Lundberg Secretary 1.00
Officer Director
$0 $0 $0
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
2025 $969,651 $789,420 $2,873,721 $180,231
2024 No data No data No data No data
2023 $1,029,539 $889,450 $2,740,633 $140,089
2022 $978,676 $1,027,638 $1,447,101 $-48,962
2021 $856,680 $554,963 $492,688 $301,717
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