Grove Collective Foundation
- Assets
- $769.6k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- Data as of
- 09/2023
- EIN
- 87-4015431
Organization Overview
Grove Collective Foundation is located in Washington, DC. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grove Collective 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 09/2023, Grove Collective Foundation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 29.3% each year . All expenses for the organization totaled $860.6k during the year ending 09/2023. While expenses have increased by 31.5% per year over the past 2 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
ACCELERATE ECONOMIC & SOCIAL MOBILITY SOLUTIONS BY EQUIPPING INNOVATORS WITH TEAMS OF EXPERIENCED SOCIAL ENTREPRENEURS
Describe the Organization's Program Activity:
Part 3 - Line 4a
OBSIDIAN ECOSYSTEM INITIATIVE - BLACK AND BROWN REAL ESTATE DEVELOPERS SEED MULTIDIMENSIONAL INFRASTRUCTURE. THE OBSIDIAN ECOSYSTEM INITIATIVE CONNECTS THE NATION'S TOP EMERGING BLACK AND BROWN REAL ESTATE DEVELOPERS WITH EDUCATION, WORKFORCE, AND INFRASTRUCTURE INNOVATORS TO PROVIDE BREAKTHROUGH NEIGHBORHOOD-LEVEL SOCIAL AND ECONOMIC MOBILITY OUTCOMES.
REDEMPTIVE LEADERSHIP PROJECT - THE REDEMPTIVE LEADERSHIP PROJECT SEEKS TO CREATE A SPACE FOR PEOPLE WITH MEANINGFUL DIFFERENCES TO COME TOGETHER IN TRUE FELLOWSHIP, DURING A TIME WHEN FEWER AND FEWER SUCH SPACES EXIST. THE COLLECTIVE CURATED AN INVITATION LIST TO BRING TOGETHER A COMMUNITY WITH DIVERSE EXPRESSIONS OF EMBODIED FAITH AND EXPERIENCE, REPRESENTING DIFFERENT CULTURES, DENOMINATIONS, POLITICAL VIEWS, SEXUAL ORIENTATIONS, ROLES IN EDUCATION, AND UNDERSTANDINGS OF GOD. THE COLLECTIVE DEEPLY BELIEVES IN THE POWER OF BUILDING COMMUNITY ACROSS MANY LINES OF DIFFERENCE, AND LOOKS FORWARD TO CO-CREATING A SACRED AND BRAVE SPACE OF LISTENING, LEARNING, AND COMMUNION.
ONE GOAL - THE PURPOSE OF THE ONE GOAL PROGRAM IS TO SCALE COLLEGE ACCESS IMPACT THROUGH STATE DELIVERY CHANNELS AND TO PACKAGE AND DISTRIBUTE STATE-WIDE TRAINING FOR HIGH SCHOOL TEACHERS AND COUNSELORS IN HOLISTIC, EQUITY-FOCUSED COLLEGE ACCESS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Siff Director | Trustee | 1 | $0 |
Emmanuel Fortune Director | Trustee | 1 | $0 |
Kevin Robinson Director | Trustee | 1 | $0 |
Kinney Zalesne Director | Trustee | 1 | $49,000 |
Jacob Schramm Managing Partner | Officer | 30 | $89,042 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $900,239 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $900,239 |
| Total Program Service Revenue | $344,749 |
| 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 | $1,244,988 |
| 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. | $184,233 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,348 |
| Fees for services: Accounting | $18,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $585,640 |
| Advertising and promotion | $0 |
| Office expenses | $2,160 |
| Information technology | $2,682 |
| Royalties | $0 |
| Occupancy | $189 |
| Travel | $21,352 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,084 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,622 |
| All other expenses | $0 |
| Total functional expenses | $860,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $693,624 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,919 |
| Loans from Officers, Directors, or Controlling Persons | $776 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,321 |
| 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 | $769,640 |
| Accounts payable and accrued expenses | $137,920 |
| 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 | $137,920 |
| Net assets without donor restrictions | $201,548 |
| Net assets with donor restrictions | $430,172 |
| 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 | $769,640 |