SPARKNC

EIN: 921765886 501(c)(3) Education

RALEIGH, NC

Total Revenue
$3,010,000
Total Expenses
$99,917
Total Assets
$2,917,622
Net Assets
$2,910,083
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
NC
Principal Officer
DR LYNN MOODY
Phone
9196040895
Tax Period
2023-07-01 to 2024-06-30

SPARKNC, founded in 2022, is a community nonprofit in the Education sector that reported $3.0M in total revenue in fiscal year 2023. The organization ran a surplus of $2.9M, a strong 97% operating margin.

Mission

SPARKNC EMPOWERS STUDENTS TO DISCOVER CAREERS IN HIGH-TECH FIELDS LIKE CYBERSECURITY, ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING, SOFTWARE DEVELOPMENT AND COMPUTER SYSTEMS ENGINEERING. WE HELP SCHOOLS MOVE AWAY FROM TRADITIONAL CLASSES AND RIGID SCHEDULES. INSTEAD, STUDENTS CHOOSE WHAT, WHERE AND HOW THEY LEARN. AND EDUCATORS HAVE FLEXIBILITY TO USE INNOVATIVE STRATEGIES TO DELIVER INSTRUCTION IN ENGAGING WAYS TO STUDENTS ACROSS THE STATE. WE OFFER AN EXTENSIVE AND CONSTANTLY EVOLVING CATALOG OF LEARNING EXPERIENCES TO GIVE STUDENTS DIFFERENT PATHS TO GAIN KNOWLEDGE AND BUILD SKILLS, AND TO SHOWCASE WHAT THEY LEARN IN PERSONALIZED DIGITAL PORTFOLIOS OF WORK. WE ALSO HELP STUDENTS CONNECT WITH INDUSTRY EXPERTS THROUGH IN-PERSON EVENTS, TEAM-BASED INTERNSHIPS, AND OTHER RICH EXPERIENCES. BY DOING THIS WE GIVE STUDENTS A COMPETITIVE EDGE ON THEIR WAY TO HIGH-WAGE AND SOCIALLY IMPACTFUL CAREERS, PROVIDING A DYNAMIC TALENT PIPELINE FOR NORTH CAROLINA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $3,010,000
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $3,010,000

Expense Breakdown

Grants Paid $0
Salaries & Benefits $43,833
Fundraising Expenses $0
Program Expenses $91,754
Other Expenses $56,084
TOTAL EXPENSES $99,917

Year-over-Year Comparison

2023 2022 Change
Revenue $3,010,000 N/A N/A
Expenses $99,917 N/A N/A
Net Income $2,910,083 $0 N/A
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

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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
6

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
3
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR RANDY BRIDGES CHAIR 2.00
Officer Director
$0 $0 $0
DR BILL HARRISON TREASURER 2.00
Officer Director
$0 $0 $0
DR JIM MERRILL SECRETARY 2.00
Officer Director
$0 $0 $0
ALLEN MASK BOARD MEMBER 2.00
Director
$0 $0 $0
DR DERWIN WARREN BOARD MEMBER 2.00
Director
$0 $0 $0
JENNIFER BELL BOARD MEMBER 2.00
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
2024 $3,010,000 $99,917 $2,917,622 $2,910,083
2024 No data No data No data No data
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