Groover Labs Inc

Analysis

Groover Labs Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in September 2020, 6 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, Groover Labs Inc reported income of $1.0m and spending of $365k, leaving 64% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $246k to $1.0m (+313%), an average of +60% a year. The sharpest change came in the year to December 2022, when income rose by 131%. Over the whole period it spent 62% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Groover Labs 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 80th percentile within KS. Charities of a similar size with the same main cause include Seventh Ward Civic Association ($1.0m), Chico State Construction Management Education Foundation ($1.0m) and Superior Vocations Center Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. Other salaries and wages came to $112k. At year end it held assets of $792k against liabilities of $17k, net assets of $775k. It reported 7 employees.