Groove Fund Inc

Analysis

Groove Fund Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in January 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Groove Fund Inc reported income of $98k and spending of $14k, leaving 86% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $137k to $98k (-29%), an average of -29% a year. The sharpest change came in the year to December 2023, when income dropped by 29%. Over the whole period it spent 30% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Groove Fund Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 34th percentile within CT. Charities of a similar size with the same main cause include North Carolina Council of Education Opportunity Programs ($98k), Kingsville Isd Education Foundation ($98k) and LA Mirada High School Football Booster Club Inc ($98k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $284k against liabilities of $0, net assets of $284k.