Grand Rapids Opportunities For Women
- Assets
- $2.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Grand Rapids, MI
- Founding
- 12/1990
- Data as of
- 12/2023
- EIN
- 38-2886028
Organization Overview
Grand Rapids Opportunities For Women, operating under the name Grow, is located in Grand Rapids, MI. The organization was established in 1990. According to its NTEE Classification (Y42) the organization is classified as: Domestic Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, Grow employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grow is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Grow generated $1.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $876.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
GROW COMMITS TO A FUTURE WHERE SMALL BUSINESS OWNERSHIP CAN BE REALIZED AS A PATHWAY TO WEALTH CREATION. WE STRIVE TO PROVIDE CAPITAL AND KNOWLEDGE THAT IS INFORMED THROUGH CURIOSITY AND AUTHENTIC RELATIONSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS TRAINING AND SUPPORT SERVICES - TO HELP PARTICIPANTS DEVELOP SKILLS AND ACQUIRE KNOWLEDGE NEEDED TO OPERATE A BUSINESS, EVALUATE A BUSINESS IDEA AND/OR WRITE A BUSINESS PLAN, ESTABLISH NETWORKS TO HELP MAINTAIN THEIR NEW OR GROWING BUSINESSES, AND LINE UP MENTORS FOR PARTICIPANTS VIA CLASSES AND/OR BUSINESS COUNSELING.
BUSINESS LENDING - TO PROVIDE RESPONSIBLE AND ACCESSIBLE LOANS THAT EXPAND ECONOMIC OPPORTUNITY FOR SMALL BUSINESS OWNERS AT EVERY STAGE OF THEIR BUSINESS. WE ARE COMMITTED TO ELEVATING ENTREPRENEURS BY PROVIDING ACCESS TO CAPITAL, FINANCIAL TRAINING, AND MENTORSHIP FROM GROW'S NETWORK OF INDUSTRY PROFESSIONALS. THESE RESOURCES ASSIST ENTREPRENEURS IN MAKING SUSTAINABLE DECISIONS AS THEY BUILD FINANCIAL SECURITY AS SMALL BUSINESS OWNERS IN WEST MICHIGAN.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Milinda Ysasi Chief Exec. | Officer | 40 | $111,300 |
Veverly Austin Director | Trustee | 0.5 | $0 |
Tracy Burke Director | Trustee | 0.5 | $0 |
Damian Ciavattone Director | Trustee | 0.5 | $0 |
Shannon Cohen Director | Trustee | 0.5 | $0 |
Floriza Genautis Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $820,965 |
| All other contributions, gifts, grants, and similar amounts not included above | $146,437 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $967,402 |
| Total Program Service Revenue | $96,987 |
| Investment income | $4,617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,069,006 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $111,365 |
| Compensation of current officers, directors, key employees. | $5,791 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $495,160 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $39,309 |
| Payroll taxes | $47,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,846 |
| Fees for services: Accounting | $24,058 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $57,846 |
| Advertising and promotion | $23,758 |
| Office expenses | $4,826 |
| Information technology | $14,316 |
| Royalties | $0 |
| Occupancy | $15,259 |
| Travel | $816 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,448 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $975 |
| Insurance | $12,138 |
| All other expenses | $6,886 |
| Total functional expenses | $876,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $520,232 |
| Savings and temporary cash investments | $518,807 |
| Pledges and grants receivable | $137,247 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,173 |
| Net Land, buildings, and equipment | $3,127 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,351,170 |
| Intangible assets | $0 |
| Other assets | $128,589 |
| Total assets | $2,666,345 |
| Accounts payable and accrued expenses | $15,818 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $728,286 |
| Total liabilities | $744,104 |
| Net assets without donor restrictions | $1,673,817 |
| Net assets with donor restrictions | $248,424 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,666,345 |