Form 990 for tax year 2023
Filed by GEORGIA RESILIENCE AND OPPORTUNITY FUND INC.
Totals
- Total revenue
- $15,357,750
- Total expenses
- $2,500,965
- Contributions and grants received
- $15,342,318
- Grants paid
- $1,570,000
- Program service revenue
- $0
- Investment income
- $7,761
- Other revenue
- $7,671
- Total assets, end of year
- $15,900,736
- Total liabilities, end of year
- $604,675
- Net assets or fund balances, end of year
- $15,296,061
- Program services expenses (Part IX)
- $2,229,182
- Management and general expenses
- $150,474
- Fundraising expenses
- $121,309
- Program service expenses (Part III)
- $2,229,182
Program services were 89.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$15,342,318
-
3 · Investment income
total $7,761 · excluded $7,761
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: HONORARIUM SPEAKING ENGAGEMENT
total $1,000 · related or exempt $1,000
-
11b · Other revenue: TRANSFER FROM FISCAL AGENT
total $6,671 · related or exempt $6,671
-
11e · Other revenue, total
$7,671
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,570,000 · program services $1,570,000
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $160,200 · program services $96,120 · management and general $32,040 · fundraising $32,040
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $542,623 · program services $435,496 · management and general $39,859 · fundraising $67,268
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $487 · program services $368 · management and general $50 · fundraising $69
-
10 · Payroll taxes
total $109,963 · program services $83,176 · management and general $11,249 · fundraising $15,538
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $42,496 · management and general $42,496
-
11c · Fees: accounting
total $15,547 · management and general $15,547
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $19,946 · program services $12,132 · management and general $6,169 · fundraising $1,645
-
12 · Advertising and promotion
total $697 · fundraising $697
-
13 · Office expenses
total $0
-
14 · Information technology
total $1,150 · program services $870 · management and general $117 · fundraising $163
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $10,055 · program services $10,055
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $8,370 · program services $6,331 · management and general $856 · fundraising $1,183
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $2,558 · program services $1,935 · management and general $262 · fundraising $361
-
24a · Other expenses: OTHER EXPENSES
total $15,643 · program services $11,769 · management and general $1,703 · fundraising $2,171
-
24b · Other expenses: SUPPLIES
total $1,125 · program services $851 · management and general $115 · fundraising $159
-
24c · Other expenses: Postage and Shipping
total $105 · program services $79 · management and general $11 · fundraising $15
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $970,282 · end of year $5,399,491
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $1,480,000 · end of year $10,500,015
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $1,230
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $11,006 · end of year $34,675
-
25 · Other liabilities
end of year $570,000
-
27 · Net assets without donor restrictions
beginning of year $2,439,276 · end of year $749,284
-
28 · Net assets with donor restrictions
end of year $14,546,777
Mission and programs · 2023
Mission
GRO BUILDS BOLD, EVIDENCE-BASED, AND COMMUNITY-INFORMED SOLUTIONS TO ADDRESS THE ROOT CAUSES OF POVERTY AND WORK TOWARD CLOSING THE RACIAL WEALTH GAP.
-
In Her Hands 1. POLICY LEARNING:THE ORGANIZATION WILL SHARE THE FINDINGS AND RESULTS OF THE IN HER HANDS PROJECT WITH VARIOUS AGENCIES TO EDUCATE THEM ON INCOME STABILITY AND WEALTH-BUILDING PROGRAMS FOCUSED ON ECONOMICALLY MARGINALIZED/LOW-INCOME GROUPS. THE GOAL OF THESE PROGRAMS WILL BE EDUCATION. THE ORGANIZATION MAY WRITE WHITE PAPERS OR DO LIMITED ADVOCACY FOR STATE-EARNED INCOME TAX CREDIT AND SOCIAL SAFETY NET REFORM.THE ORGANIZATION CONDUCTS LIMITED LOBBYING ACTIVITIES AND SPEAKS WITH VARIOUS POLITICAL FIGURES FROM TIME TO TIME. THE ORGANIZATION'S MAIN FOCUS WILL BE TO EDUCATE GEORGIA-BASED ORGANIZATIONS AND OTHER ENTITIES WHO ARE INTERESTED IN LEARNING MORE ABOUT THE IN HER HANDS PROJECT AND ITS RESULTS, AS WELL AS THE THEORY AND POLICY BEHIND A GUARANTEED INCOME PROJECT. THIS WORK WILL BE DONE BY ORGANIZATION STAFF AND VOLUNTEERS.2. DIRECT SERVICE PROVISION FOR LOW-INCOME WOMEN:IN HER HANDS IS A COLLABORATIVE INITIATIVE OF BOTH THE ORGANIZATION AND GIVE DIRECTLY, AND IT PROVIDES 654 LOW-INCOME WOMEN ACROSS THREE COMMUNITIES IN GEORGIA WITH AN INCOME SUPPLEMENT BY PROVIDING AN AVERAGE OF $850 PER MONTH FOR TWO YEARS.THE PROGRAM SERVES LOW-INCOME WOMEN IN THE OLD FOURTH WARD AREA OF THE CITY OF ATLANTA, SOUTHWESTERN PART OF THE STATE OF GEORGIA, AND COLLEGE PARK. THE PROGRAM IS EXPANDING TO ADDITIONAL NEIGHBORHOODS IN ATLANTA.IN HER HANDS WILL NOT JUST PROVIDE A GUARANTEED INCOME FOR TWO YEARS, BUT ALSO THE FOLLOWING BENEFITS TO PARTICIPANTS: COMMUNITY ENGAGEMENT AND OUTREACH; COORDINATION WITH PUBLIC BENEFITS AGENCIES; PROVIDING BENEFITS COUNSELING; DOING EXIT INTERVIEWS AND OFFBOARDING ACTIVITIES TO ESTABLISH THE SUCCESS OF THE PROJECT AND HELP TRANSITION OUT OF IT.
Expenses $1,987,258 · Grants $1,570,000
-
Comms and RepTHE COMMUNICATIONS PROGRAM SUPPORTS GROS WORK BY ELEVATING PROGRAM LEARNINGS FROM EVALUATION AND PARTICIPANT STORIES. THE COMMUNICATIONS PROGRAM USES DATA AND EVIDENCE TO BETTER UNDERSTAND HARMFUL NARRATIVES ABOUT POVERTY AND THE RACIAL WEALTH GAP AND HOW TO CREATE NEW NARRATIVES THAT EMPHASIZE HOW THE ECONOMY CAN WORK FOR ALL OF US.
Expenses $142,789
-
Baby Bonds 1. POLICY LEARNING:THE ORGANIZATION WILL SHARE THE FINDINGS AND RESULTS OF THE BABY BONDS PILOT PROGRAM WITH VARIOUS AGENCIES TO EDUCATE THEM ON INCOME STABILITY AND WEALTH-BUILDING PROGRAMS FOCUSED ON ECONOMICALLY MARGINALIZED YOUTH AND YOUNG ADULTS. THE GOAL OF THESE PROGRAMS WILL BE GENERATING EVIDENCE ON WEALTH BUILDING AND EDUCATION. THE ORGANIZATION MAY WRITE WHITE PAPERS OR DO LIMITED ADVOCACY FOR STRATEGIES TO ADDRESS WEALTH DISPARITIES SUCH AS A STATE BABY BONDS PROGRAM.THE ORGANIZATION CONDUCTS LIMITED LOBBYING ACTIVITIES AND SPEAKS WITH VARIOUS POLITICAL FIGURES FROM TIME TO TIME. THE ORGANIZATION'S MAIN FOCUS WILL BE TO EDUCATE GEORGIA-BASED ORGANIZATIONS AND OTHER ENTITIES WHO ARE INTERESTED IN LEARNING MORE ABOUT THE BABY BONDS PILOT PROGRAM AND ITS RESULTS, AS WELL AS THE THEORY AND POLICY BEHIND DIRECT YOUTH WEALTH BUILDING STRATEGIES. THIS WORK WILL BE DONE BY ORGANIZATION STAFF AND VOLUNTEERS.2. DIRECT SERVICE PROVISION FOR LOW-INCOME YOUTH AND YOUNG ADULTS:THE BABY BONDS PILOT PROGRAM WILL PROVIDE 50 LOW-INCOME YOUTH AND YOUNG ADULTS IN ATLANTS WITH A GUARANTEED INCOME OF $500/MONTH FOR FOUR YEARS AND A LARGE LUMP SUM OF APPROXIMATELY $40,000 FOR WEALTH BUILDING PURPOSES SUCH AS BUYING A HOME, STARTING A BUSINESS OR ENROLLING IN HIGHER EDUCATION. THE YOUNG PEOPLE ALSO RECEIVE FINANCIAL ADVISING AND MENTORSHIP THROUGHOUT THEIR FOUR YEARS IN THE PROGRAM.THE GOAL OF THE PILOT IS TO SUPPORT THE YOUNG PEOPLE ENROLLED AND TO GENERATE INSIGHT ON HOW THESE INTERVENTIONS IMPROVE YOUTH AND YOUNG PEOPLES FINANCIAL STABILITY AND WEALTH POSITION.
Expenses $99,135
As filed on the 2023 return.
Listed in Part VII
-
HOPE WOLLENSACK
Executive Dir.
- Total calculated
- $173,415
- From this org
- $161,956
- From related orgs
- $0
- Other
- $11,459
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,956
- Bonus
- not reported
- Other
- not reported
- Deferred
- $1,211
- Nontaxable benefits
- $10,248
- Filer's total
- $173,415
-
AMIR FAROKHI
Chairman
- Total calculated
- $0
- Hours/week
- 5
-
ALAN ESSIG
Treasurer
- Total calculated
- $0
- Hours/week
- 5
-
AISHA NYANDORO
Director
- Total calculated
- $0
- Hours/week
- 1
-
DALE ROYAL
Director
- Total calculated
- $0
- Hours/week
- 1
-
KRISTIE GOODMAN DAVIS
Director
- Total calculated
- $0
- Hours/week
- 1
-
JOHN SIMPKINS
Director
- Total calculated
- $0
- Hours/week
- 1
-
NATALIE FOSTER
Director
- Total calculated
- $0
- Hours/week
- 1
-
SARAH BETH GEHL
Director
- Total calculated
- $0
- Hours/week
- 1
-
YONINA GRAY
Director
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$1,570,000
INFRASTRUCTURE SUPPORT
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433209349325923
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