Current Financials
Overview
Since its inception in 1980, the Corte Madera Larkspur Schools Foundation (SPARK) has played an important role in financially supporting programs that are at risk of being cut or scaled back in the Larkspur-Corte Madera School District. In an ongoing effort to share as much information as possible, we have provided you with the most recent financial data available from the 2022-2023 school year (July 1, 2022-June 30, 2023):
SPARK Tax FilingS
*2022 Tax Return will be published when filed.
Expense Ratio
Expense ratio is based on a “net funds raised” approach, where the costs to support specific fundraising programs (eg, events) are deducted from the funds raised from that event to quantify a “net revenue” from each event.
For the 2022-2023 fiscal year this ratio is 15.2%.
SPARK’s calculation is comparable to how some other foundations report their financial figures. The expenses are only those required to run and provide overall support to the foundation and its campaigns, and include bookkeeping, legal, insurance, accounting, marketing and our executive director. They do not include expenses that are directly tied to a specific event, such as Gala and Fun Run.
Please note: Most other local school nonprofits use this same approach to calculating an “efficiency metric.”
Past Financials
We have provided you with the most recent financial data available from the 2022-2023 school year (July 1, 2022-June 30, 2023):
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