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← GROUNDSWELL CAPITAL

Form 990 for tax year 2023

Filed by GROUNDSWELL CAPITAL.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 13 April 2026. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$2,685,721 changed to $2,426,655
Total expenses
$1,014,310 changed to $1,038,222
Contributions and grants received
$2,607,763 changed to $2,357,763
Program service revenue
$29,434 changed to $67,965
Investment income
$23,826 changed to $0
Other revenue
$24,698 changed to $927
Total assets, end of year
$3,202,901 changed to $3,208,352
Total liabilities, end of year
$1,111,701 changed to $1,400,130
Net assets or fund balances, end of year
$2,091,200 changed to $1,808,222
Program services expenses
$1,014,310 changed to $1,038,222
Program service expenses (Part III)
$1,014,310 changed to $1,038,222

Totals

Total revenue
$2,685,721
Total expenses
$1,014,310
Contributions and grants received
$2,607,763
Grants paid
$378,903
Program service revenue
$29,434
Investment income
$23,826
Other revenue
$24,698
Total assets, end of year
$3,202,901
Total liabilities, end of year
$1,111,701
Net assets or fund balances, end of year
$2,091,200
Program services expenses (Part IX)
$1,014,310
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,014,310

Program services were 100.0% 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)

    $2,522,763

  • 1f · All other contributions, gifts and grants

    $85,000

  • 2a · Program service revenue: PROGRAM SERVICE FEES

    total $29,434 · related or exempt $29,434

  • 3 · Investment income

    total $23,826 · excluded $23,826

  • 11d · All other revenue

    total $24,698 · related or exempt $24,698

  • 11e · Other revenue, total

    $24,698

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $378,903 · program services $378,903

  • 11b · Fees: legal

    total $18,784 · program services $18,784

  • 11c · Fees: accounting

    total $3,000 · program services $3,000

  • 11g · Fees: other

    total $72,628 · program services $72,628

  • 12 · Advertising and promotion

    total $550 · program services $550

  • 13 · Office expenses

    total $761 · program services $761

  • 14 · Information technology

    total $66,035 · program services $66,035

  • 23 · Insurance

    total $1,127 · program services $1,127

  • 24a · Other expenses: BAD DEBT

    total $240,469 · program services $240,469

  • 24b · Other expenses: PROGRAM OUTREACH

    total $202,630 · program services $202,630

  • 24c · Other expenses: SPONSORSHIPS

    total $24,867 · program services $24,867

  • 24d · Other expenses: STAFF DEVELOPMENT & SUP

    total $2,472 · program services $2,472

  • 24e · All other expenses

    total $2,084 · program services $2,084

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $751,903 · end of year $1,002,734

  • 2 · Savings and temporary cash investments

    beginning of year $150,000 · end of year $154,682

  • 4 · Accounts receivable

    end of year $616,867

  • 7 · Other notes and loans receivable

    beginning of year $85,083 · end of year $1,428,618

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,656 · end of year $50,217

  • 19 · Deferred revenue

    end of year $785,000

  • 25 · Other liabilities

    beginning of year $561,541 · end of year $276,484

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $419,789 · end of year $2,091,200

Mission and programs · 2023

Mission

GROUNDSWELL CAPITAL IS AN ARIZONA-BASED 501(C)3 NONPROFIT LENDER FOCUSED ON CREATING INNOVATIVE, BLENDED CAPITAL SOLUTIONS TO TACKLE OUR COMMUNITIES BIGGEST CHALLENGES AND INVEST IN A VIBRANT, CLEAN ECONOMY WHERE ALL RESIDENTS CAN PROSPER.

  • CHANGEMAKERS GRANT PROGRAM: GRANT FOR COVID IMPACTED SMALL BUSINESSES. SEMILLAS LOAN FUND: MICROLOAN FUND UP TO $15K FOR SMALL BUSINESSES.

    Expenses $1,014,310 · Grants $378,903 · Revenue $54,132

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

Listed in Part VII

  • Amber Cordoba

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anne Doughtery

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Mansfield

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sandra Barton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ritesh Patel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Miguel Cruz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dave Dicosola

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Rob Tull

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Angelo Torrelba

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Andrea Thompson

    PRESIDENT

    Total calculated
    $170,000
    From this org
    $0
    From related orgs
    $170,000
    Other
    $0
    Hours/week
    20 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $170,000 related

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

  • HUUB

    $30,000

    SMALL BUSINESS SUPPORT & EDUCATION

  • BLAX FRIDAY

    $25,000

    SMALL BUSINESS SUPPORT & EDUCATION

  • STARTUP TUCSON

    $20,000

    SMALL BUSINESS SUPPORT & EDUCATION

  • GROWTH PARTNERS AZ

    $20,000

    SMALL BUSINESS SUPPORT & EDUCATION

  • ESTRADAORNADA MOTORS LLC

    $10,700

    OPERATING EXPENSES AND INVENTORY, FINANCIAL EDUCATION

  • MEL DOMINGUEZ ART LLC

    $10,200

    INVENTORY AND OPERATING EXPENSES AND EQUIPMENT UNDER $10K, FINANCIAL EDUCATION

  • BARRIO BOOKS

    $10,000

    FACILITY RENOVATION COSTS AND MATERIALS

  • BARRIO RESTORATION

    $10,000

    EQUIPMENT UNDER $10K

  • D & D ACCOUNTING SERVICES

    $10,000

    FACILITIES RENOVATIONS

  • DOLCE PASTELLO CAKES LLC

    $10,000

    EQUIPMENT PURCHASES UNDER $10K

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF TUCSON

    ECONOMIC DEVELOPMENT · AZ

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202541359349311499

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