Grow Capital Jobs Foundation

Analysis

Grow Capital Jobs Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 2017, 9 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 (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, Grow Capital Jobs Foundation reported income of $2.8m and spending of $2.8m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $2.8m (+86%), an average of +17% a year. The sharpest change came in the year to December 2022, when income rose by 139%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grow Capital Jobs Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Seattle Good Business Network ($2.8m), Day Resource Center for the Homeless ($2.8m) and Eau Claire Community Complex Inc ($2.8m).

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 $90k (3.3% of expenses). Other salaries and wages came to $65k. At year end it held assets of $514k against liabilities of $360k, net assets of $154k. It reported 2 employees.