Grove Foundation Inc
- Assets
- $296.8k
- Revenue
- $25.9k
- Investments
- $247.8k
- Employees
- 0
- Location
- Charleston, SC
- Founding
- Data as of
- 12/2023
- EIN
- 92-0326667
Organization Overview
Grove Foundation Inc is located in Charleston, SC. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grove 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 Foundation Inc generated $25.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (71.1%) each year. All expenses for the organization totaled $20.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clifford Woods President | 0 | $0 | |
Susan Woods Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,236 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $21,668 |
| Capital Gain Net Income | $21,668 |
| Net ST Capital Gain | $21,668 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $25,904 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,671 |
| Contributions, gifts, grants paid | $19,006 |
| Total expenses and disbursements | $20,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,988 |
| Savings and temporary cash investments | $25,000 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $296,822 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Grove Foundation Inc has awarded $19,006 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
KIDS ON POINT PURPOSE: CONTRIBUTION TO GENERAL FUND | $12,253 |
COUNCIL FOR NATIVE HAWAIIAN ADVANCE PURPOSE: CONTRIBUTION TO GENERAL FUND | $2,000 |
ETV ENDOWMENT OF SC PURPOSE: CONTRIBUTION TO GENERAL FUND | $240 |
CIGAR FAMILY CHARITABLE FOUNDATION PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,000 |
WILBUR MINISTRIES PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,057 |
INTERNATIONAL AFRICAN AMERICAN MUSE PURPOSE: CONTRIBUTION TO GENERAL FUND | $1,000 |