Grove Collective Foundation

Analysis

Grove Collective Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in January 2022, 4 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 September 2023, Grove Collective Foundation reported income of $1.2m and spending of $861k, leaving 31% of income unspent that year. Across the 2 years on record, from September 2022 to September 2023, income grew from $945k to $1.2m (+32%), an average of +32% a year. The sharpest change came in the year to September 2023, when income rose by 32%. Over the whole period it spent 62% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Grove Collective Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 59th percentile within DC. Charities of a similar size with the same main cause include Northwest Colorado Center for Independence ($1.2m), College of the Albemarle Foundation Inc ($1.2m) and Christopher Academy of Pre-School Learning Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $184k (21% of expenses). At year end it held assets of $770k against liabilities of $138k, net assets of $632k.