Growth Opportunity Partners Inc

Analysis

Growth Opportunity Partners Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in January 2016, 10 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, Growth Opportunity Partners Inc reported income of $994k and spending of $2.9m, spending 290% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $859k to $994k (+16%), an average of +3.7% a year. The sharpest change came in the year to December 2020, when income rose by 248%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Growth Opportunity Partners Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within OH. Charities of a similar size with the same main cause include World Boston Inc ($992k), Invest Up ($994k) and Granite State Organizing Project ($991k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $849k (29% of expenses). Other salaries and wages came to $95k. At year end it held assets of $5.9m against liabilities of $4.5m, net assets of $1.4m. It reported 6 employees.