Grow Group

Analysis

Grow Group is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in April 2011, 15 years ago. Its declared purposes cover employment, 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 Group reported income of $1.4m and spending of $1.7m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.4m (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grow Group sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Harrison County Sheltered Workshop Asso ($1.4m), High Point Community Pride Association ($1.4m) and Big Bend Area Health Education Center Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $339k (20% of expenses). Other salaries and wages came to $976k. At year end it held assets of $317k against liabilities of $4,226, net assets of $313k. It reported 131 employees.