Growth Factory
- Assets
- $218.4k
- Revenue
- $855.9k
- Investments
- $0.0
- Employees
- 10
- Location
- Rocklin, CA
- Founding
- Data as of
- 12/2023
- EIN
- 61-1999178
Organization Overview
Growth Factory is located in Rocklin, CA. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Growth Factory employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Growth Factory 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, Growth Factory generated $855.9k in total revenue.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EARLY STAGE ENTREPRENURS FROM NOTHERN CALIFORNIA WITH ACCESS TO CAPITAL, CAPACITY BUILDING PROGRAMS, AND A COMMUNITY OF EXPERT RESOURCES TO SUPPORT THE GROWTH AND SUCCESS OF THEIR COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, THE GROWTH FACTORY CONTINUED TO OFFER PROGRAMMING FOCUSED ON SUPPORTING HIGH GROWTH VENTURE BACKABLE STARTUPS ENGAGING AND SUPPORTING 100+ COMPANIES. WE HOSTED 22 ACCELERATOR EVENTS & PROGRAM SESSIONS INCLUDING: INVESTMENT READINESS SERIES, FOUNDER FORUMS, NETWORKING HAPPY HOURS, AND A BACKYARD BASH TO CELEBRATE THE GROWING ECOSYSTEM. THE GROWTH FACTORY ALSO HOSTED OUR 2ND ANNUAL VENTURE CONFERENCE AND STARTUP SHOWCASE THAT ATTRACTED 1000 ATTENDEES AND INCLUDED 60 TRADESHOW PARTICIPANTS, 64 SPEAKERS WHO SHARED THEIR KNOWLEDGE AND INSIGHTS WITH OUR COMMUNITY, AND 40 STARTUP PRESENTERS WHO HAD THE OPPORTUNITY TO SHOWCASE THEIR COMPANIES AND CONNECT WITH INVESTORS AND CUSTOMERS. THE GROWTH FACTORY CONTINUED ITS PARTNERSHIP WITH THE CITY OF ROSEVILLE OPERATING THE ROSEVILLE VENTURE LAB, AN EVENT AND DROP-IN COWORKING SPACE, HOSTING APPROXIMATELY 120 MEETINGS AND EVENTS AND ATTRACTED 3800 VISITS FOR THE YEAR. ALONG WITH THE SPACE, WE ALSO CONTINUED TO RUN ROSEVILLE RISING INNOVATION PROGRAM WITH THIS YEARS COHORTS FOCUSED ON HIGH SCHOOL STUDENTS AND SOCIAL IMPACT ENTREPRENEURS. THE GROWTH FACTORY ALSO DESIGNED AND EXECUTED A YEAR-LONG PROGRAM TO SUPPORT SMALL BUSINESSES FORM THE CITY OF ROCKLIN IN A PROGRAM CALLED BUILD UP ROCKLIN. THIS INCLUDED MANAGING THE DISTRIBUTION OF GRANTS TO THE SMALL BUSINESS PARTICIPANTS. FINALLY, THE GROWTH FACTORY ALSO SERVED AS ENTREPRENEUR IN RESIDENCE AT SIERRA COLLEGE AND WORKED WITH THE FACULTY TO SUPPORT THE DEVELOPMENT OF THE ENTREPRENEURIAL MINDSET, SKILLSET, AND TOOLSET ACROSS CAMPUS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monique Brown Secretary | Officer | 40 | $150,000 |
Mark Haney President | Officer | 5 | $0 |
Rick Spencer Treasurer | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $382,990 |
| All other contributions, gifts, grants, and similar amounts not included above | $317,789 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $700,779 |
| Total Program Service Revenue | $155,143 |
| Investment income | $0 |
| 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 | $855,922 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $51,051 |
| 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. | $150,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,010 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,246 |
| Payroll taxes | $17,987 |
| Fees for services: Management | $34,363 |
| Fees for services: Legal | $800 |
| Fees for services: Accounting | $6,488 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,433 |
| Advertising and promotion | $23,172 |
| Office expenses | $8,292 |
| Information technology | $5,733 |
| Royalties | $0 |
| Occupancy | $36,416 |
| Travel | $6,190 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $174,722 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,925 |
| All other expenses | $3,214 |
| Total functional expenses | $720,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,120 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,416 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,842 |
| Total assets | $218,378 |
| Accounts payable and accrued expenses | $0 |
| 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 | $15,371 |
| Total liabilities | $15,371 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $203,007 |
| Total liabilities and net assets/fund balances | $218,378 |
Grants Awarded
Over the last fiscal year, Growth Factory has awarded $14,322 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
RELENTLESS MEDIA AGENCYFBO WEST COAST FUSION ELITE | | | $9,000 |
LEE & KATHY'S KITCHEN | | | $5,322 |