Groove Fund Inc is located in Hartford, CT. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Groove Fund Inc 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 12/2022, Groove Fund Inc generated $137.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.6% each year . All expenses for the organization totaled $56.0k during the year ending 12/2022. While expenses have increased by 24.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
WE AWARDED 17 SCHOLARSHIPS TO STUDENTS $17,500 WE AWARDED $35,662 IN SCHOLARSHIP FUNDS TO MORGAN STATE UNIVERSITY
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Victor Henderson Chairman | 2 | $0 | |
William G Smith Vice Chairman | 2 | $0 | |
Michael Bailey Treasurer | 2 | $0 | |
Robert Simpson Member | 2 | $0 | |
George Mossee Jr Member | 2 | $0 | |
Charles Douglas Secretary | 2 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $129,970 |
Total Program Service Revenue | $0 |
Membership dues | $0 |
Investment income | $7,264 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $0 |
Other Revenue | $0 |
Total Revenue | $137,234 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $0 |
Professional fees and other payments to independent contractors | $649 |
Occupancy, rent, utilities, and maintenance | $0 |
Printing, publications, postage, and shipping | $822 |
Other expenses | $54,572 |
Total expenses | $56,043 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $183,859 |
Other assets | $0 |
Total assets | $183,859 |
Total liabilities | $0 |
Net assets or fund balances | $183,859 |
Over the last fiscal year, we have identified 1 grants that Groove Fund Inc has recieved totaling $76.
Awarding Organization | Amount |
---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $76 |
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The Cape Cod Community College Educational Foundation Inc West Barnstable, MA | $15,428,827 | $3,042,413 |
Cape Cod Foundation Inc South Yarmouth, MA | $88,834,376 | $21,531,654 |
Gilder Lehrman Institute Of American History New York, NY | $67,600,972 | $8,993,543 |
Uaspire Inc Boston, MA | $8,161,176 | $8,929,537 |
Target Als Foundation Inc New York, NY | $26,527,264 | $6,977,665 |
Pursuit Transformation Company Inc Long Island City, NY | $13,294,970 | $6,856,404 |
Firemens Association Of The State New York Foundation Inc Albany, NY | $161,398,482 | $10,617,589 |
Morgan Stanley Foundation Inc New York, NY | $117,614,938 | $39,846,453 |
Stephen Phillips Memorial Scholarship Fund Inc Boston, MA | $45,790,109 | $8,308,700 |
Brooklyn College Foundation Inc Brooklyn, NY | $101,301,645 | $6,939,639 |