Groundswell Startups Inc
- Assets
- $580.4k
- Revenue
- $458.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Melbourne, FL
- Founding
- 12/2016
- Data as of
- 12/2023
- EIN
- 81-1417100
Organization Overview
Groundswell Startups Inc is located in Melbourne, FL. The organization was established in 2016. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Groundswell Startups Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Groundswell Startups 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 12/2023, Groundswell Startups Inc generated $458.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $531.0k during the year ending 12/2023. While expenses have increased by 19.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
GROUNDSWELL PAIRS EARLY-STAGE COMPANIES WITH EXPERTS WHO KNOW THE INDUSTRY AND ARE READY TO HELP. WITH MENTORS RANGING FROM BUSINESS STRATEGY TO MANUFACTURING TO RAISING CAPITAL, GROUNDSWELL HAS THE RESOURCES FOR YOU TO IDEATE, START AND GROW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMMING: JOINING THE GROUNDSWELL NETWORK MEANS GAINING ACCESS TO RESOURCES AND WORKSHOPS SPECIFICALLY TAILORED TO YOUR NEEDS. FROM WORKSHOPS FOR ASPIRING ENTREPRENEURS LOOKING TO TEST THEIR APTITUDE TO GROWING COMPANIES FINDING PROVEN STRATEGIES TO SCALE, GROUNDSWELL IS HERE TO HELP.MENTORSHIP: GROUNDSWELL PAIRS EARLY-STAGE COMPANIES WITH EXPERTS WHO KNOW THE INDUSTRY AND ARE READY TO HELP. WITH MENTORS RANGING FROM BUSINESS STRATEGY TO MANUFACTURING TO RAISING CAPITAL, GROUNDSWELL HAS THE RESOURCES FOR YOU TOIDEATE, START AND GROW.COWORKING: WHY WORK IN A COFFEE SHOP WHEN YOU CAN ACCESS FREE COFFEE AND BEER, SURF THE FASTEST WIFI IN TOWN AND COLLABORATE WITH OTHER LOCAL ENTREPRENEURS, ALL FROM A RIVERSIDE SPACE WITHIN WALKING DISTANCE OF DOWNTOWN MELBOURNES MANY BARS AND RESTAURANTS. EVENTS: SOMETHINGS ALWAYS GOING ON AT GROUNDSWELL. FEATURED FOUNDER TALKS, LIGHTNING DISCUSSIONS AND MORE IN-DEPTH ROUNDTABLES OFFER UNIQUE PERSPECTIVES, KEY EXPERT INSIGHTS AND OPPORTUNITIES FOR FOUNDERS TO SHARE THEIR CHALLENGES AND RECEIVE AN OUTSIDE OPINION. EVENTS: SOMETHINGS ALWAYS GOING ON AT GROUNDSWELL. FEATURED FOUNDER TALKS, LIGHTNING DISCUSSIONS AND MORE IN-DEPTH ROUNDTABLES OFFER UNIQUE PERSPECTIVES, KEY EXPERT INSIGHTS AND OPPORTUNITIES FOR FOUNDERS TO SHARE THEIR CHALLENGES AND RECEIVE AN OUTSIDE OPINION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sallie Halsey Cso | Officer | 0 | $1,600 |
Ruchir Gupta Director | Trustee | 0 | $0 |
Ryan Bailey Director | Trustee | 0 | $0 |
Mamoon Rashid Director | Trustee | 0 | $0 |
Bud Deffenbach Director | Trustee | 0 | $0 |
Mark Mohler Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $299,857 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $299,857 |
| Total Program Service Revenue | $136,670 |
| 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 | $458,638 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $118,224 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,044 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,828 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,286 |
| Advertising and promotion | $19,605 |
| Office expenses | $42,428 |
| Information technology | $23,244 |
| Royalties | $0 |
| Occupancy | $55,937 |
| Travel | $5,207 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,293 |
| Insurance | $21,395 |
| All other expenses | $0 |
| Total functional expenses | $530,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $194,397 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $5,623 |
| Net Land, buildings, and equipment | $380,382 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $580,402 |
| Accounts payable and accrued expenses | $1,136 |
| 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 | $8,607 |
| Total liabilities | $9,743 |
| Net assets without donor restrictions | $570,659 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $580,402 |