Grow America Fund Inc

Analysis

Grow America Fund Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2013, 13 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grow America Fund Inc reported income of $3.9m and spending of $3.5m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.7m to $3.9m (+5.4%), an average of +1.3% a year. The sharpest change came in the year to December 2021, when income rose by 145%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grow America Fund Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include National Association of Free and Charitable Clinics Inc ($3.9m), San Diego Second Chance Program ($3.9m) and Center for Vocational Rehabilitation Inc ($3.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 62% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $46.6m against liabilities of $26.8m, net assets of $19.8m.