Grove Park Foundation Inc
- Assets
- $28.1m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Atlanta, GA
- Founding
- 09/2017
- Data as of
- 12/2023
- EIN
- 82-1913260
Organization Overview
Grove Park Foundation Inc is located in Atlanta, GA. The organization was established in 2017. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Grove Park Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grove Park Foundation 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, Grove Park Foundation Inc generated $4.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.7m 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
GROVE PARK FOUNDATION IS WORKING WITH THE RESIDENTS OF THE GROVE PARK NEIGHBORHOOD TO BREAK THE GENERATIONAL CYCLE OF POVERTY. SEE SCH O FOR DETAILS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC MOBILITY: ATTRACT NEW PARTNERS AND COLLABORATE WITH EXISTING ONES TO FOCUS JOB/WORKFORCE AND ENTREPRENEURIAL TRAINING PROGRAMS. INCORPORATE MIXED-USE PROPERTIES WITH HOUSING, OFFICE, AND RETAIL COMPONENTS. RECRUIT AND INCENTIVIZE NEW BUSINESSES IN VIABLE EMPLOYMENT CENTERS. OBTAIN OPPORTUNITY ZONE DESIGNATION TO ENCOURAGE JOB GROWTH AND OPPORTUNITY. ADVOCATE FOR IMPROVED TRANSIT CONNECTIVITY TO SUPPORT BETTER ACCESS TO JOBS.
EDUCATION
ECONOMIC DEVELOPMENT: DEVELOP HIGH QUALITY AND AFFORDABLE COMMERCIAL AND MIXED USE SPACE ON MAIN STREET BY RENOVATING THE HISTORIC GROVE THEATRE AS A CENTER FOR EVENTS AND COMMUNITY ARTS AND CREATING ADDITIONAL RETAIL SPACE AT THE CORNER MARKET AT HOLLOWELL FOR SMALL BUSINESS INCUBATION AND DEVELOPMENT AND PROVIDING NEEDED COMMERCIAL SERVICES FOR THE COMMUNITY SUCH AS BANKING.
HOUSING: STABILIZE EXISTING HOMEOWNERS. REHABILITATE DAMAGED HOMES. BUILD NEW AFFORDABLE AND WORKFORCE MULTI-FAMILY HOUSING UNITS. REDUCE TRANSIENCY, VACANT LOTS, AND DILAPIDATED STRUCTURES. PROVIDE A PATHWAY FROM RENTAL TO HOME OWNERSHIP THROUGH DOWN PAYMENT ASSISTANCE, HOUSING CREDITS, AND FAVORABLE MORTGAGE LENDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gavin Mcguire Executive Director | OfficerTrustee | 40 | $176,225 |
Adrienne White Director | Trustee | 1 | $0 |
Ashley Carson Director | Trustee | 1 | $0 |
Brian Friedman Development Chair | Trustee | 1 | $0 |
Carol Waddy Director | Trustee | 1 | $0 |
Constance Callahan Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Warner Fuller Consulting Financial Mangement | 12/30/23 | $152,187 |
Coxe Curry Associates Fundraising Services | 12/30/23 | $134,142 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $35,025 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,289,547 |
| Noncash contributions included in lines 1a–1f | $10,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,324,572 |
| Total Program Service Revenue | $0 |
| Investment income | $225,327 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $513,576 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $70,526 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,144,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $199,500 |
| 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. | $184,292 |
| Compensation of current officers, directors, key employees. | $70,566 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,351 |
| Pension plan accruals and contributions | $7,625 |
| Other employee benefits | $36,715 |
| Payroll taxes | $38,708 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62,490 |
| Fees for services: Accounting | $203,942 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $134,142 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $609,754 |
| Advertising and promotion | $13,615 |
| Office expenses | $8,598 |
| Information technology | $18,540 |
| Royalties | $0 |
| Occupancy | $300,221 |
| Travel | $536 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,825 |
| Interest | $109,642 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $360,021 |
| Insurance | $24,138 |
| All other expenses | $74,692 |
| Total functional expenses | $2,735,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,183,053 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,910,837 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,451,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $54,436 |
| Net Land, buildings, and equipment | $8,420,852 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,442 |
| Total assets | $28,051,620 |
| Accounts payable and accrued expenses | $292,669 |
| Grants payable | $0 |
| Deferred revenue | $15,877,871 |
| 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 | $1,892,166 |
| Unsecured mortgages and notes payable | $500,000 |
| Other liabilities | $0 |
| Total liabilities | $18,562,706 |
| Net assets without donor restrictions | $4,862,984 |
| Net assets with donor restrictions | $4,625,930 |
| 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 | $28,051,620 |
Grants Awarded
Over the last fiscal year, Grove Park Foundation Inc has awarded $12,699,093 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GROVE PARK FOUNDATION WOODSON PARK PURPOSE: OPERATIONAL SUPPORT | $12,199,103 |
ATLANTA PARTNERS FOR EDUCATION PURPOSE: OPERATIONAL SUPPORT | $499,990 |