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Nonprofiteer
← GROWTH OPPORTUNITY PARTNERS INC

Form 990 for tax year 2023

Filed by GROWTH OPPORTUNITY PARTNERS INC.

Totals

Total revenue
$993,590
Total expenses
$2,880,039
Contributions and grants received
$853,568
Grants paid
$236,374
Program service revenue
$79,253
Investment income
$50,260
Other revenue
$10,509
Total assets, end of year
$5,876,344
Total liabilities, end of year
$4,525,235
Net assets or fund balances, end of year
$1,351,109
Program services expenses (Part IX)
$1,357,661
Management and general expenses
$1,500,904
Fundraising expenses
$21,474
Program service expenses (Part III)
$1,357,661

Program services were 47.1% 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.

  • 1e · Government grants (contributions)

    $83,108

  • 1f · All other contributions, gifts and grants

    $770,460

  • 2a · Program service revenue: LOAN INTEREST

    total $78,131 · related or exempt $78,131

  • 2b · Program service revenue: LOAN FEES

    total $1,122 · related or exempt $1,122

  • 3 · Investment income

    total $50,260 · excluded $50,260

  • 11a · Other revenue: OTHER INCOME

    total $10,509 · excluded $10,509

  • 11e · Other revenue, total

    $10,509

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $236,374 · program services $236,374

  • 5 · Compensation of officers, directors and key employees

    total $849,187 · program services $507,623 · management and general $341,564

  • 7 · Other salaries and wages

    total $95,173 · program services $56,892 · management and general $38,281

  • 8 · Pension plan contributions

    total $6,159 · program services $3,682 · management and general $2,477

  • 9 · Other employee benefits

    total $5,491 · program services $3,282 · management and general $2,209

  • 10 · Payroll taxes

    total $48,787 · program services $29,164 · management and general $19,623

  • 11b · Fees: legal

    total $154,409 · program services $13,272 · management and general $141,137

  • 11c · Fees: accounting

    total $113,380 · management and general $113,380

  • 11g · Fees: other

    total $426,764 · program services $4,000 · management and general $409,399 · fundraising $13,365

  • 12 · Advertising and promotion

    total $162,992 · program services $80,163 · management and general $74,720 · fundraising $8,109

  • 13 · Office expenses

    total $33,192 · program services $6,672 · management and general $26,520

  • 14 · Information technology

    total $72,692 · management and general $72,692

  • 16 · Occupancy

    total $165,833 · program services $87,892 · management and general $77,941

  • 17 · Travel

    total $152,154 · program services $2,447 · management and general $149,707

  • 20 · Interest

    total $72,915 · program services $72,915

  • 22 · Depreciation, depletion and amortization

    total $15,656 · management and general $15,656

  • 23 · Insurance

    total $14,479 · management and general $14,479

  • 24a · Other expenses: CREDIT LOSSES

    total $253,266 · program services $253,266

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $1,136 · program services $17 · management and general $1,119

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,909,019 · end of year $1,572,591

  • 2 · Savings and temporary cash investments

    beginning of year $4,595,231 · end of year $2,981,828

  • 4 · Accounts receivable

    beginning of year $230,860 · end of year $183,811

  • 7 · Other notes and loans receivable

    beginning of year $651,575 · end of year $818,005

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,102 · end of year $7,691

  • 10a · Land, buildings and equipment: cost or other basis

    $130,776

  • 10b · Land, buildings and equipment: accumulated depreciation

    $91,053

  • 10c · Land, buildings and equipment, net

    beginning of year $59,230 · end of year $39,723

  • 15 · Other assets

    beginning of year $362,798 · end of year $272,695

  • 17 · Accounts payable and accrued expenses

    beginning of year $273,613 · end of year $390,623

  • 19 · Deferred revenue

    beginning of year $23,815

  • 24 · Unsecured notes and loans payable

    beginning of year $4,000,000 · end of year $3,855,203

  • 25 · Other liabilities

    beginning of year $354,134 · end of year $279,409

  • 27 · Net assets without donor restrictions

    beginning of year -$1,335,152 · end of year -$3,079,632

  • 28 · Net assets with donor restrictions

    beginning of year $4,530,405 · end of year $4,430,741

Mission and programs · 2023

Mission

TO PROVIDE ADVISORY SERVICES, FINANCIAL SOLUTIONS, AND ADVOCACY, TO CULTIVATE MORE RESILIENT PERSONS AND COMMUNITIES PREVSIOUSLY UNDER-RESOURCED AND UNDER-VALUED, UTILIMATELY TO IMPORVE QUALITY OF LIFE, OUTPUTS, AND OUTCOMES WITH A PARTICULAR FOCUS ON DISADVANTAGED COMMUNITIES AND PERSONS.

  • TO PROVIDE ADVISORY SERVICES, FINANCIAL SOLUTIONS, AND ADVOCACY, TO CULTIVATE MORE RESILIENT PERSONS AND COMMUNITIES PREVSIOUSLY UNDER-RESOURCED AND UNDER-VALUED, UTILIMATELY TO IMPORVE QUALITY OF LIFE, OUTPUTS, AND OUTCOMES WITH A PARTICULAR FOCUS ON DISADVANTAGED COMMUNITIES AND PERSONS.

    Expenses $1,357,661 · Grants $236,374 · Revenue $79,253

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael T Jeans

    PRESIDENT/CHIEF EXECUTIVE OFFICER

    Total calculated
    $494,641
    From this org
    $448,474
    From related orgs
    $0
    Other
    $46,167
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $289,811
    Bonus
    $158,663
    Other
    $0
    Deferred
    $9,150
    Nontaxable benefits
    $37,017
    Filer's total
    $494,641

  • Ndeda Letson

    CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    7

  • Sheila Wright

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Richard Jankura

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Donet Graves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Marcus Glanton

    CHIEF OPERATING OFFICER

    Total calculated
    $177,664
    From this org
    $173,217
    From related orgs
    $0
    Other
    $4,447
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,217
    Bonus
    $25,000
    Other
    $0
    Deferred
    $4,447
    Nontaxable benefits
    $0
    Filer's total
    $177,664

  • Jeffrey Clawson

    CHIEF CREDIT OFFICER

    Total calculated
    $176,883
    From this org
    $172,459
    From related orgs
    $0
    Other
    $4,424
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,459
    Bonus
    $25,000
    Other
    $0
    Deferred
    $4,424
    Nontaxable benefits
    $0
    Filer's total
    $176,883

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

  • SPORTS AND SPINE PHYSICAL THERAPY INC

    $115,000

    GOBE GRANT

  • CARTECOR MANAGEMENT

    $20,000

    GOBE 2023 ENTERPERNEUR SHOWCASE

  • AIRCUTS & DAY SPA LLC

    $20,000

    GOBE 2023 ENTERPERNEUR SHOWCASE

  • DORNEE' SHEA BODY SOUFFLE LLC

    $10,000

    GOBE 2023 ENTERPERNEUR SHOWCASE

  • FURAHI - A TASTE OF HOME

    $10,000

    GOBE 2023 ENTERPERNEUR SHOWCASE

  • NEXGEN INTERACTIVE LLC

    $10,000

    GOBE 2023 ENTERPERNEUR SHOWCASE

  • PHENOMENAL FOODS CO LLC

    $10,000

    GOBE 2023 ENTERPERNEUR SHOWCASE

  • CLEVELAND LEADERSHIP CENTER

    $10,000

    CITIZENS MAKE CHANGE EVENT

  • CAVALIERS COMMUNITY FOUNDATION

    $10,000

    2023 WINE & GOLD GALA

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202423189349307442

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