Groover Labs Inc
- Assets
- $2.7k
- Revenue
- $214.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Wichita, KS
- Founding
- Data as of
- 12/2021
- EIN
- 84-3484606
Organization Overview
Groover Labs Inc is located in Wichita, KS. 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 12/2021, Groover Labs Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Groover Labs 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 12/2021, Groover Labs Inc generated $214.7k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 55.8% each year . All expenses for the organization totaled $230.7k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
GROOVER LABS IS A NON-PROFIT WHOSE MISSION IS TO FOSTER GROWTH IN LOCAL STARTUP ACTIVITY BY PROVIDING A SINGLE LOCATION WHERE ENTREPRENEURS AND TECH WORKERS CAN GET SUPPORT AND SHARE IDEAS IN A COLLABORATIVE WORKING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CO-WORKING SPACES - THE 42,000 SQUARE-FOOT FACILITY FEATURES A VARIETY OF FLEXIBLE WORK AND MEETING SPACES THAT CAN BE SCHEDULED BY THE HOUR OR MONTH. THESE SPACES INCLUDE LARGE AND SMALL OFFICES, DEDICATED AND OPEN DESK SEATING, SEVEN CONFERENCE ROOMS, A LARGE EVENT VENUE AND TWO CLASSROOMS, ALL WITH HIGH SPEED GIGABIT INTERNET ACCESS.
MAKERSPACE - THE LARGE MAKER AND PROTOTYPING SPACE FEATURING ADVANCED TOOLS FOR PRINTED CIRCUIT BOARD (PCB) ASSEMBLY, LARGE FORMAT LASER CUTTING, VARIOUS FORMS OF 3D PRINTING, AS WELL AS WOOD AND METAL WORK.
EVENT & CONFERENCE FACILITIES - EVENT AND CONFERENCE FACILITIES AVAILABLE BY THE HOUR TO THE COMMUNITY. GALLERY SPACE WITH A DEDICATED TENANT FOR THE DISPLAY OF ARTWORK FROM A LOCAL NON-PROFIT UNIVERSITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curt Gridley President | OfficerTrustee | 2 | $0 |
Tracy Hoover Treasurer | OfficerTrustee | 3 | $0 |
Dave Cunningham Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,000 |
| Government grants | $24,990 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,490 |
| Total Program Service Revenue | $177,645 |
| 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 | $214,736 |
| 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 | $95,864 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,531 |
| Payroll taxes | $7,334 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,020 |
| Advertising and promotion | $2,697 |
| Office expenses | $13,727 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,573 |
| Travel | $390 |
| 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 | $0 |
| Insurance | $28,320 |
| All other expenses | $200 |
| Total functional expenses | $230,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,707 |
| 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 | $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 | $2,707 |
| 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 | $14 |
| Total liabilities | $14 |
| 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 | $2,693 |
| Total liabilities and net assets/fund balances | $2,707 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Groover Labs Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Gridley Fam Foundation Tr Wichita, KS PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Entertainment & Omaha, NE | $158,635,208 | $95,451,675 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
Region 10 League For Economic Assistance & Planning Inc Montrose, CO | $16,331,779 | $8,034,942 |
Wichita Convention & Tourism Bureau Wichita, KS | $3,697,930 | $5,439,635 |
South Central Kansas Economic Development District Inc Sckedd Bel Aire, KS | $6,963,572 | $7,360,259 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
Economic Development Corporation Of Kansas City Missouri Kansas City, MO | $4,885,634 | $3,918,676 |
I2e Inc Oklahoma City, OK | $27,869,803 | $5,344,576 |
Entrepreneur Startup Business Development Corporation St Louis, MO | $30,546,182 | $5,633,965 |