Marc Spark is a Dallas-based entrepreneur. His work mostly involves helping companies grow and expand through his private equity firm. His firms’ reputation and net worth have been steadily growing, inspiring him to help other people.
The idea of helping people to thrive economically was conceived when Marc Sparks met Lynne Sipiora. They started off at Colin County by taking charge of a homeless shelter called the Samaritan Inn. Under their stewardship, the organization soared to file an annual budget of more than $3 million.
At Samaritan, they feed and house over 200 people daily. Through the Samaritan Inn, Marc and Lynne were able to develop the first transitional living blocks that have apartments in North Texas. They opened a thriving store and have a $7 million shelter that is currently under development.
Marc has extensive practical experience in developing and growing businesses. He believes that he has a special affinity to entrepreneurship. It was Lynne, however, who sold Marc the idea that they can find and finance individuals whose entrepreneurial ideas were “out of the box.”
Spark Tank is rooted in the belief that many societies will benefit from fund grants if the challenge could make sure that the nonprofit organizations financed are properly managed. Spark Tank is a one of a kind project that encourages executives offering unique social services to come up with ideas that create and nurture social prosperity.
Spark Tank operates by inviting members of different communities to apply for funding and mentorship. After an organization’s application is accepted, a thorough evaluation of the applicants’ ideas is undertaken before the panel selects three finalists who may qualify for funding. The shortlisted finalists are required to face the Spark Tank panel again where each applicant is supposed to convince the panel why his or her idea deserves the grant.
The applicants make presentations to the panel following specific modalities. First, they are required to make a presentation that is fully explained within 20 minutes. Secondly, they must demonstrate time management capabilities by using 10 minutes to present and 10 minutes to respond to questions.
Any organization can receive a grant from Spark Tank provided it has more than two years of operation and is classified as a 501c3 organization. Associations dealing in arts, non-religious faith-based initiatives, and animal services are eligible to apply for the program. Read more: Marc Sparks’s Books and Publications Spotlight
However, organizations such as national and united way charities, religious faith based initiatives, and political action committees are not eligible to join the program.
The program has been able to bring tremendous transformation to the Samaritan Inn through various modifications. For instance, they provide a $5000 kennel for homeless people to keep their pets and another $5000 to ensure that poor kids do not spend summer in school but instead receive lessons in the camp.