Groovy Caring & Giving Fund

Analysis

Groovy Caring & Giving Fund is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in February 2021, 5 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Groovy Caring & Giving Fund reported income of $450k and spending of $601k, spending 134% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $22k to $450k (+1989%), an average of +1989% a year. The sharpest change came in the year to December 2023, when income rose by 1989%. Over the whole period it spent 137% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Groovy Caring & Giving Fund sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include Chicago Kids Company ($450k), United Way of Linn County ($450k) and Bunim Fund ($450k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $14k against liabilities of $1,500, net assets of $12k.