Grow Capital Jobs Foundation
- Assets
- $525.0k
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 2
- Location
- Richmond, VA
- Founding
- 07/2017
- Data as of
- 12/2022
- EIN
- 81-5149225
Organization Overview
Grow Capital Jobs Foundation is located in Richmond, VA. The organization was established in 2017. According to its NTEE Classification (J02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Employment and related organizations. As of 12/2022, Grow Capital Jobs Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grow Capital Jobs Foundation 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, Grow Capital Jobs Foundation generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.8% each year . All expenses for the organization totaled $2.6m during the year ending 12/2022. While expenses have increased by 43.6% per year over the past 6 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.
Since 2020, Grow Capital Jobs Foundation has awarded 29 individual grants totaling $5,920,171. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GROW CAPITAL JOBS FOUNDATION IS THE SUPPORT ORGANIZATION FOR REGION 4 OF GO VIRGINIA, A STATEWIDE INITIATIVE TO IMPROVE THE COMMONWEALTHS ECONOMY BY INCREASING THE NUMBER OF HIGH PAYING, PRIVATE SECTOR JOBS. HIGHER PAYING JOBS ARE A LEADING INDICATOR OF OVERALL BUSINESS GROWTH AND DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTES COLLABORATIVE PLANNING, ECONOMIC DEVELOPMENT AND WORKFORCE ACTIVITIES IN CONNECTION WITH THE JOB CREATION INITIATIVES AUTHORIZED AND SPONSORED BY THE COMMONWEALTH OF VIRGINIA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William H Flohr President & | OfficerTrustee | 40 | $89,926 |
Brian Anderson Director | Trustee | $0 | |
Chandra Briggman Director | Trustee | $0 | |
Dr Joseph Casey Director | Trustee | $0 | |
John Clements Director | Trustee | $0 | |
Elizabeth Creamer Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,604,785 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,629,785 |
| Total Program Service Revenue | $0 |
| Investment income | $44 |
| 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 | $2,629,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,313,797 |
| 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. | $89,919 |
| Compensation of current officers, directors, key employees. | $22,475 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,930 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,212 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,204 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,040 |
| Advertising and promotion | $41,952 |
| Office expenses | $2,986 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,400 |
| Travel | $316 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $800 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,854 |
| All other expenses | $28,000 |
| Total functional expenses | $2,624,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $42,505 |
| Pledges and grants receivable | $482,450 |
| 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 | $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 | $0 |
| Total assets | $524,955 |
| Accounts payable and accrued expenses | $375,834 |
| 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 | $0 |
| Total liabilities | $375,834 |
| Net assets without donor restrictions | $149,121 |
| 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 | $524,955 |
Grants Awarded
Over the last fiscal year, Grow Capital Jobs Foundation has awarded $2,313,797 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BRIGHTPOINT COMMUNITY COLLEGE FOUND PURPOSE: PROVIDE RESEARCH | $119,370 |
GREATER RICHMOND CHAMBER OF COMMERC PURPOSE: PROVIDE RESEARCH | $146,658 |
COMMONWEALTH CENTER FOR ADVANCED MA PURPOSE: PROVIDE RESEARCH | $242,028 |
VIRGINIA BIOTECHNOLOGY PARK PURPOSE: PROVIDE RESEARCH | $413,010 |
LIGHTHOUSE LABS PURPOSE: PROVIDE RESEARCH | $125,613 |
VIRGINIA BIOTECHNOLOGY ASSOCIATION PURPOSE: PROVIDE RESEARCH | $398,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Training Institute For The Sheet Metal & Ac Industry Falls Church, VA | $60,856,107 | $15,099,753 |
Grow Capital Jobs Foundation Richmond, VA | $524,955 | $2,629,829 |
Root Change Washington, DC | $560,751 | $1,394,242 |
Workers Dignity Project Nashville, TN | $268,049 | $233,032 |
Kentucky Labor Management Conference Inc Frankfort, KY | $242,468 | $241,092 |
Boom Beans Llc Williamsburg, KY | $55,011 | $203,710 |
Building Right Relationships Inc Severn, MD | $15,793 | $74,511 |
Patent Pathways Fairfax, VA | $4,290 | $31,400 |
Wit-Ops Silver Spring, MD | $0 | $0 |
Virginia Spqa Chesapeake, VA | $146,749 | $0 |
Coworker Washington, DC | $3,528 | $0 |