• Preheat the oven to 350 degrees F. Spray two 6-cup donut pans (or one 12-cup donut pan) with cooking spray, and set aside.
• Stir together 1 1/2 cups all-purpose flour, 1 teaspoon baking powder, 1/2 teaspoon baking soda, 1/4 teaspoon salt, and 1/2 cup cocoa in a medium mixing bowl.
  
• In a separate large bowl, combine 3/4 cup sugar and 1/2 cup oil, and whisk until fluffy.
  
• Beat in 2 large eggs, one at a time, then add in 1 teaspoon vanilla extract. Continue beating until everything is well-mixed.
  
• Pour in the flour mixture and 1/2 cup milk, and fold until just mixed. Do not over-mix the batter.
  
• Spoon 3 tablespoons of batter into each donut cup in the pan, then bake for 15 minutes or until a toothpick poked into the middle donuts comes out clean. Rest on a cooling rack.
  

Glaze

• While the donuts are cooling, make the glaze. Stir together 2 cups confectioner's sugar and 3 tablespoons milk in a small bowl until the mixture becomes a smooth, thick glaze.
  
• Dip the tops of the cooled donuts into the glaze, then place on a piece of parchment paper.
  
• Pour the sprinkles on top of the glazed donuts before the glaze dries. Let the donuts rest until the glaze has finished setting. Serve at room temperature.