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← GROUNDED SOLUTIONS NETWORK

Form 990 for tax year 2024

Filed by GROUNDED SOLUTIONS NETWORK.

Totals

Total revenue
$9,357,322
Total expenses
$6,532,211
Contributions and grants received
$7,015,120
Grants paid
$207,666
Program service revenue
$1,661,831
Investment income
$660,843
Other revenue
$19,528
Total assets, end of year
$21,221,462
Total liabilities, end of year
$1,228,235
Net assets or fund balances, end of year
$19,993,227
Program services expenses (Part IX)
$5,040,249
Management and general expenses
$1,097,046
Fundraising expenses
$394,916
Program service expenses (Part III)
$5,040,249

Program services were 77.2% 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)

    $101,351

  • 1f · All other contributions, gifts and grants

    $6,913,769

  • 2a · Program service revenue: PROGRAM SERVICE FEES

    total $1,477,889 · related or exempt $1,477,889

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $144,205 · related or exempt $144,205

  • 2c · Program service revenue: MANAGEMENT FEE REVENUE

    total $39,737 · related or exempt $39,737

  • 3 · Investment income

    total $659,496 · excluded $659,496

  • 7a · Gross sales of assets other than inventory

    securities $135,335

  • 7b · Less cost or other basis and sales expenses

    securities $133,988

  • 7c · Gain or loss

    securities $1,347

  • 7d · Net gain or loss

    total $1,347 · excluded $1,347

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $19,528 · excluded $19,528

  • 11e · Other revenue, total

    $19,528

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $207,666 · program services $207,666

  • 5 · Compensation of officers, directors and key employees

    total $761,740 · program services $556,984 · management and general $153,872 · fundraising $50,884

  • 7 · Other salaries and wages

    total $2,771,584 · program services $2,026,736 · management and general $559,756 · fundraising $185,092

  • 9 · Other employee benefits

    total $483,703 · program services $343,962 · management and general $108,191 · fundraising $31,550

  • 10 · Payroll taxes

    total $298,967 · program services $228,101 · management and general $53,393 · fundraising $17,473

  • 11c · Fees: accounting

    total $81,621 · management and general $81,621

  • 11g · Fees: other

    total $860,484 · program services $707,741 · management and general $117,715 · fundraising $35,028

  • 13 · Office expenses

    total $501,897 · program services $211,264 · management and general $278,275 · fundraising $12,358

  • 16 · Occupancy

    total $101,387 · program services $63,011 · management and general $32,173 · fundraising $6,203

  • 17 · Travel

    total $277,712 · program services $196,457 · management and general $73,403 · fundraising $7,852

  • 19 · Conferences, conventions and meetings

    total $93,386 · program services $93,386

  • 24a · Other expenses: OTHER EXPENSES

    total $92,064 · program services $34,012 · management and general $55,984 · fundraising $2,068

  • 24b · Other expenses: COMMUNICATIONS ALLOCATI

    total $0 · program services $370,929 · management and general -$417,337 · fundraising $46,408

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $184,852 · end of year $4,163,506

  • 2 · Savings and temporary cash investments

    beginning of year $15,227,207 · end of year $689,374

  • 3 · Pledges and grants receivable

    end of year $3,708,222

  • 4 · Accounts receivable

    beginning of year $936,522 · end of year $280,679

  • 9 · Prepaid expenses and deferred charges

    beginning of year $106,107 · end of year $107,591

  • 11 · Investments: publicly traded securities

    beginning of year $1,822,880 · end of year $10,270,690

  • 13 · Investments: program-related

    end of year $2,000,000

  • 15 · Other assets

    beginning of year $1,400 · end of year $1,400

  • 17 · Accounts payable and accrued expenses

    beginning of year $292,812 · end of year $314,996

  • 19 · Deferred revenue

    beginning of year $705,039 · end of year $913,239

  • 27 · Net assets without donor restrictions

    beginning of year $15,309,560 · end of year $14,796,091

  • 28 · Net assets with donor restrictions

    beginning of year $1,971,557 · end of year $5,197,136

Mission and programs · 2024

Mission

THE ORGANIZATION'S MISSION IS TO CULTIVATE COMMUNITIES - EQUITABLE, INCLUSIVE, AND RICH IN OPPORTUNITY - BY ADVANCING AFFORDABLE HOUSING SOLUTIONS THAT LAST FOR GENERATIONS.

  • THE INNOVATIVE FINANCE PROGRAM DEVELOPS CAPITAL SOLUTIONS AND REAL ESTATE STRATEGIES TO HELP THE FIELD OF SHARED EQUITY HOUSING PROGRAMS SCALE THEIR PORTFOLIOS.

    Expenses $939,664 · Grants $50 · Revenue $373,925

  • THE TECHNICAL ASSISTANCE PROGRAM PROVIDES TECHNICAL ASSISTANCE, TRAINING, TOOLS, AND RESOURCES TO NONPROFITS AND PUBLIC AGENCIES TO HELP SCALE THE FIELD OF HOUSING PROGRAMS WITH LASTING AFFORDABILITY.

    Expenses $1,323,720 · Grants $206,566 · Revenue $296,027

  • THE HOMEKEEPER PROGRAM PROVIDES AN INNOVATIVE TECHNOLOGY SOLUTION TO HELP HOUSING PROFESSIONALS STREAMLINE THE WAY THEY MANAGE AND REPORT ON THEIR HOMEOWNERSHIP AND HOUSING COUNSELING PROGRAM DATA, SO THEY CAN MORE EFFICIENTLY RUN THEIR PROGRAMS AND MEASURE THEIR IMPACT.

    Expenses $753,958 · Revenue $737,717

  • OTHER PROGRAM INCLUDE NATIONAL POLICY, RESEARCH, TRAINING AND MEMBER SERVICES, AND THE NATIONAL CONFERENCE.

    Expenses $2,022,907 · Grants $1,050 · Revenue $254,162

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

Listed in Part VII

  • MICHAEL MONTE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JACOB NOONAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HALA FARID

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • GARRICK GOOD

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • LISA VARON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GERMAINE SMITH-BAUGH

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • FATHIA MACAULEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT HAMMOND

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MIGUEL GAVALDON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LOU TISLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BEN BYNUM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JONATHAN FREDERICK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ANDREANECIA MORRIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JERRY MALDONALDO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PETER DEAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DAVID SMITH

    CHIEF PROGRAM OFFICER

    Total calculated
    $174,290
    From this org
    $174,290
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,290
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $174,290

  • RACHEL SILVER

    CHIEF OPERATING OFFICER

    Total calculated
    $251,200
    From this org
    $250,000
    From related orgs
    $0
    Other
    $1,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,000 + $1,200 related
    Bonus
    $10,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $250,000 + $1,200 related

  • CEDERICK ANTHONY PICKETT

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $336,250
    From this org
    $336,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,250
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $336,250

  • PAHNITI TOSUKSRI

    DIRECTOR OF PRODUCT, HOMEKEEPER

    Total calculated
    $138,750
    From this org
    $137,550
    From related orgs
    $0
    Other
    $1,200
    Hours/week
    40

  • CIELO CONTRERAS

    VICE PRESIDENT OF DEVELOPMENT

    Total calculated
    $138,902
    From this org
    $138,902
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • CARA NICOLE PURCELL

    DIRECTOR OF INNOVATIVE FINANCE

    Total calculated
    $140,108
    From this org
    $138,908
    From related orgs
    $0
    Other
    $1,200
    Hours/week
    40

  • DOUGLAS RYAN

    VICE PRESIDENT OF HOUSING POLICY

    Total calculated
    $170,313
    From this org
    $170,313
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,313
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $170,313

  • DEVIN E CULBERTSON

    VICE PRESIDENT OF INNOVATIVE FINANCE

    Total calculated
    $178,833
    From this org
    $177,633
    From related orgs
    $0
    Other
    $1,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,633 + $1,200 related
    Bonus
    $10,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $177,633 + $1,200 related

  • TIFFANY TROY PANGANIBAN

    FORMER DIRECTOR OF OPERATIONS

    Total calculated
    $138,480
    From this org
    $137,280
    From related orgs
    $0
    Other
    $1,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,780 + $1,200 related
    Bonus
    $7,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $137,280 + $1,200 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

  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GROUNDED SOLUTIONS NETWORK INNOVATIVE FINANCE LLC

    GROUNDED SOLUTIONS NETWORK INNOVATIVE FINANCE, LLC · CA · income $1,424,042 · assets $52,352

    Directly controlled by GROUNDED SOLUTIONS NETWORK (BEFORE ELIMINATING ENTRY)

  • HOMES FOR THE FUTURE LLC

    HOMES FOR THE FUTURE LLC · CA · income $1,084,303 · assets $3,044,702

    Directly controlled by GROUNDED SOLUTIONS NETWORK (BEFORE ELIMINATING ENTRY)

  • HFTF MSP LLC

    HFTF MSP LLC · CA · income $39,737 · assets $2,000,000

    Directly controlled by GROUNDED SOLUTIONS NETWORK (BEFORE ELIMINATING ENTRY)

Provenance

Return type
form_990
Tax year
2024
Filed
15 August 2025
IRS schema version
2024v5.2
Source object
202502279349303270

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