Groundswell Startups Inc

Analysis

Groundswell Startups Inc is a registered charity in United States, based in Melbourne, FL. It received its IRS tax-exemption ruling in December 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 (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, Groundswell Startups Inc reported income of $459k and spending of $531k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $239k to $459k (+92%), an average of +18% a year. The sharpest change came in the year to December 2022, when income rose by 184%. Over the whole period it spent 77% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Groundswell Startups Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within FL. Charities of a similar size with the same main cause include Identity Clark County ($459k), Muncie Downtown Development Partnership ($459k) and Lowell Development and Financial Corporation ($459k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 30% of the total. Other salaries and wages came to $118k. At year end it held assets of $580k against liabilities of $9,743, net assets of $571k. It reported 3 employees.