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Nonprofiteer
← GROUNDBREAK COALITION

Form 990 for tax year 2024

Filed by GROUNDBREAK COALITION.

Totals

Total revenue
$25,504,886
Total expenses
$3,380,127
Contributions and grants received
$25,154,702
Grants paid
$1,590,000
Program service revenue
$0
Investment income
$350,184
Other revenue
$0
Total assets, end of year
$25,997,809
Total liabilities, end of year
$873,050
Net assets or fund balances, end of year
$25,124,759
Program services expenses (Part IX)
$2,864,167
Management and general expenses
$437,916
Fundraising expenses
$78,044
Program service expenses (Part III)
$2,864,167

Program services were 84.7% 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

    $25,154,702

  • 3 · Investment income

    total $350,184 · excluded $350,184

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,590,000 · program services $1,590,000

  • 11b · Fees: legal

    total $162,142 · management and general $162,142

  • 11g · Fees: other

    total $1,411,234 · program services $1,272,496 · management and general $60,738 · fundraising $78,000

  • 23 · Insurance

    total $1,916 · program services $1,671 · management and general $201 · fundraising $44

  • 24a · Other expenses: BANK FEES

    total $214,835 · management and general $214,835

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,000,000 · end of year $21,841,424

  • 3 · Pledges and grants receivable

    end of year $4,135,302

  • 9 · Prepaid expenses and deferred charges

    end of year $21,083

  • 25 · Other liabilities

    beginning of year $0 · end of year $873,050

  • 27 · Net assets without donor restrictions

    beginning of year $3,000,000 · end of year $17,212,790

  • 28 · Net assets with donor restrictions

    end of year $7,911,969

Mission and programs · 2024

Mission

GROUNDBREAK COALITION WILL WORK TO FOSTER AND PROMOTE A MORE INCLUSIVE, JUST, EQUITABLE, AND CLIMATE-READY FUTURE BY, AMONG OTHER THINGS, DEVELOPING, SUPPORTING, AND APPLYING TRANSFORMATIONAL SOLUTIONS DESIGNED TO ADDRESS PRESSING SOCIETAL, ECONOMIC AND ENVIRONMENTAL CHALLENGES FACED BY VULNERABLE AND OTHER DISADVANTAGED POPULATIONS, INCLUDING THOSE WHO HAVE FACED HISTORIC DISCRIMINATION AND EXCLUSION, AND ACCELERATE COMMUNITY DEVELOPMENT IN THE MINNEAPOLIS-ST. PAUL, MINNESOTA REGION AND BEYOND THROUGH GRANTMAKING, EDUCATIONAL ACTIVITIES, AND INNOVATIVE FUNDING MECHANISMS.

Activities or mission (Part I)

GROUNDBREAK COALITION (THE ORGANIZATION), IS A GROUP OF OVER 40 CORPORATE, CIVIC, AND PHILANTHROPIC LEADERS COMMITTED TO DEMONSTRATING THAT WITH ENOUGH RESOURCES, A RACIALLY EQUITABLE AND CARBON- NEUTRAL FUTURE IS POSSIBLE NOW FIRST IN MINNEAPOLISST. PAUL AND THEN ACROSS THE COUNTRY.

  • IN 2024, GROUNDBREAK'S FIRST YEAR OF OPERATIONS, GROUNDBREAK GRANTED $1.5M IN NEW HOMEOWNERSHIP GRANTS, PROVIDING RESOURCES FOR 90 FIRST TIME HOMEBUYERS TO START BUILDING GENERATIONAL WEALTH. WE USED A PARTICIPATORY PROCESS TO IDENTIFY EXPERT FINANCIAL MANAGERS FOR GROUNDBREAK'S GRANT PROGRAM, LOAN PROGRAM, AND GUARANTEE POOL PROGRAM TO BEGIN PROVIDING ADDITIONAL SERVICES IN 2025. IN ADDITION WE ENGAGED FINANCIAL INSTITUTIONS TO IDENTIFY AND CREATE 7 GROUNDBREAK ALIGNED MORTGAGE PRODUCTS TO BETTER SERVE ASPIRING FIRST TIME HOMEOWNERS IN MSP.

    Expenses $2,864,167 · Grants $1,590,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Adair Mosley

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Rt Rybak

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Tonya Allen

    CHAIR

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
10 July 2026
IRS schema version
2024v5.5
Source object
202601919349301100

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