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Nonprofiteer
← GROWTH OPPORTUNITY PARTNERS INC

Form 990 for tax year 2022

Filed by GROWTH OPPORTUNITY PARTNERS INC.

Totals

Total revenue
$2,590,724
Total expenses
$2,140,278
Contributions and grants received
$2,400,723
Grants paid
$477,020
Program service revenue
$182,083
Investment income
$7,918
Other revenue
$0
Total assets, end of year
$7,846,815
Total liabilities, end of year
$4,651,562
Net assets or fund balances, end of year
$3,195,253
Program services expenses (Part IX)
$1,508,354
Management and general expenses
$631,924
Fundraising expenses
$0
Program service expenses (Part III)
$1,508,354

Program services were 70.5% 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

    $2,400,723

  • 2a · Program service revenue: INTEREST REVENUE

    total $114,754 · related or exempt $114,754

  • 2b · Program service revenue: LOAN FEES

    total $67,329 · related or exempt $67,329

  • 3 · Investment income

    total $7,918 · excluded $7,918

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $477,020 · program services $477,020

  • 5 · Compensation of officers, directors and key employees

    total $752,289 · program services $720,676 · management and general $31,613

  • 7 · Other salaries and wages

    total $97,587 · program services $97,587

  • 9 · Other employee benefits

    total $23,267 · management and general $23,267

  • 10 · Payroll taxes

    total $45,827 · management and general $45,827

  • 11b · Fees: legal

    total $5,090 · management and general $5,090

  • 11c · Fees: accounting

    total $19,575 · management and general $19,575

  • 11g · Fees: other

    total $188,450 · program services $33,065 · management and general $155,385

  • 12 · Advertising and promotion

    total $22,449 · program services $22,449

  • 13 · Office expenses

    total $3,407 · program services $3,407

  • 14 · Information technology

    total $56,483 · management and general $56,483

  • 16 · Occupancy

    total $162,023 · program services $86,800 · management and general $75,223

  • 17 · Travel

    total $31,561 · management and general $31,561

  • 19 · Conferences, conventions and meetings

    total $9,696 · management and general $9,696

  • 20 · Interest

    total $60,000 · program services $60,000

  • 22 · Depreciation, depletion and amortization

    total $17,548 · management and general $17,548

  • 24a · Other expenses: BAD DEBT

    total $111,133 · management and general $111,133

  • 24b · Other expenses: OPERATING EXPENSES

    total $49,523 · management and general $49,523

  • 24c · Other expenses: GRANT EXPENSE

    total $7,350 · program services $7,350

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,498,292 · end of year $1,909,019

  • 2 · Savings and temporary cash investments

    beginning of year $664,233 · end of year $4,595,231

  • 3 · Pledges and grants receivable

    beginning of year $575,000

  • 4 · Accounts receivable

    beginning of year $171,988 · end of year $230,860

  • 7 · Other notes and loans receivable

    beginning of year $940,583 · end of year $651,575

  • 9 · Prepaid expenses and deferred charges

    beginning of year $47,923 · end of year $38,102

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

    $136,477

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

    $77,247

  • 10c · Land, buildings and equipment, net

    beginning of year $74,511 · end of year $59,230

  • 15 · Other assets

    beginning of year $8,664 · end of year $362,798

  • 17 · Accounts payable and accrued expenses

    beginning of year $232,674 · end of year $273,613

  • 19 · Deferred revenue

    beginning of year $3,713 · end of year $23,815

  • 23 · Secured mortgages and notes payable

    beginning of year $4,000,000 · end of year $4,000,000

  • 25 · Other liabilities

    end of year $354,134

  • 27 · Net assets without donor restrictions

    beginning of year -$463,598 · end of year -$1,335,152

  • 28 · Net assets with donor restrictions

    beginning of year $3,208,405 · end of year $4,530,405

Mission and programs · 2022

Mission

GROWTH OPPORTUNITY PARTNERS, INC.'S PURPOSE IS TO PROVIDE ADVISORY SERVICES, FINANCIAL SOLUTIONS, AND ADVOCACY, TO CULTIVATE MORE RESILIENT PERSONS AND COMMUNITIES PREVIOUSLY UNDER-RESOURCED AND UNDER-VALUED, ULTIMATELY TO IMPROVE QUALITY OF LIFE, OUTPUTS, AND OUTCOMES WITH A PARTICULAR FOCUS ON DISADVANTAGED COMMUNITIES AND PERSONS.

  • GROWTH OPPORTUNITY PARTNERS, INC.'S PURPOSE IS TO PROVIDE ADVISORY SERVICES, FINANCIAL SOLUTIONS, AND ADVOCACY, TO CULTIVATE MORE RESILIENT PERSONS AND COMMUNITIES PREVIOUSLY UNDER-RESOURCED AND UNDER-VALUED, ULTIMATELY TO IMPROVE QUALITY OF LIFE, OUTPUTS, AND OUTCOMES WITH A PARTICULAR FOCUS ON DISADVANTAGED COMMUNITIES AND PERSONS.

    Expenses $1,508,354 · Grants $477,020 · Revenue $182,083

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael T Jeans

    PRESIDENT /

    Total calculated
    $446,504
    From this org
    $425,000
    From related orgs
    $0
    Other
    $21,504
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $275,000
    Bonus
    $150,000
    Other
    not reported
    Deferred
    $8,700
    Nontaxable benefits
    $12,804
    Filer's total
    $446,504

  • Marcus Glanton

    CHIEF OPER.

    Total calculated
    $153,284
    From this org
    $148,217
    From related orgs
    $0
    Other
    $5,067
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,217
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,067
    Nontaxable benefits
    not reported
    Filer's total
    $153,284

  • Jeffrey Clawson

    CHIEF CREDIT

    Total calculated
    $152,500
    From this org
    $147,459
    From related orgs
    $0
    Other
    $5,041
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,459
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,041
    Nontaxable benefits
    not reported
    Filer's total
    $152,500

  • Donet Graves

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Jankura

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Ndeda Letson

    CHAIR OF THE

    Total calculated
    $0
    Hours/week
    7

  • Sheila Wright

    DIRECTOR

    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. 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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313189349300536

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