Preheat oven to 350°F. Grease a mini donut pan with non-stick spray.

In a small bowl, combine the flour, cocoa powder, baking powder, and salt; set aside.

In the bowl of an electric mixer fitted with the paddle attachment, cream together the butter and sugar for a couple minutes. Add in the vanilla, egg, and red food coloring, and beat for at least 5 minutes, until glossy, and the sugar has dissolved. Alternately mix in the flour mixture and milk, beginning and ending with the flour.

Pour the batter into a large Ziploc baggie and snip off one of the corners. Pipe the batter into the donut molds, filling them 1/2 to 3/4 of the way full. Bake for 10 minutes until set and springy.

To loosen the donuts, carefully run a knife along the sides of them, then lightly grab them and twist back and forth.

In a bowl, beat together the cream cheese and butter with a hand mixer, until creamy and combined. Add in the remainder of the ingredients, and carefully beat until smooth. The glaze should be fairly runny.

Dip one side of the donuts in the glaze, and set them on a wire rack. Sprinkle with sprinkles. The glaze will set up a bit as it sits, but it will remain slightly tacky.