Groove Inc

Analysis

Groove Inc is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in September 2005, 21 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Groove Inc reported income of $198k and spending of $188k, spending 95% of its income. Across the 2 years on record, from October 2022 to October 2023, income grew from $174k to $198k (+13%), an average of +13% a year. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Groove Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within SD. Charities of a similar size with the same main cause include Mount Athos Foundation of America Inc ($198k), Wichita Falls Youth Symphony Orchestra ($198k) and Asian-American National Committee Inc ($198k).

On its Form 990-EZ for the period ending October 2023, revenue came from contributions and grants 10% of the total. At year end it held assets of $128k against liabilities of $0, net assets of $128k.