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Nonprofiteer
← GRID110 INC

Form 990 for tax year 2023

Filed by GRID110 INC.

Totals

Total revenue
$736,849
Total expenses
$570,098
Contributions and grants received
$736,849
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$195,647
Total liabilities, end of year
$3,033
Net assets or fund balances, end of year
$192,614
Program services expenses (Part IX)
$376,445
Management and general expenses
$153,742
Fundraising expenses
$39,911
Program service expenses (Part III)
$376,445

Program services were 66.0% 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)

    $394,936

  • 1f · All other contributions, gifts and grants

    $341,913

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $116,649 · program services $69,989 · management and general $34,995 · fundraising $11,665

  • 7 · Other salaries and wages

    total $231,139 · program services $138,683 · management and general $69,342 · fundraising $23,114

  • 9 · Other employee benefits

    total $23,674 · program services $14,205 · management and general $7,102 · fundraising $2,367

  • 10 · Payroll taxes

    total $27,651 · program services $16,591 · management and general $8,295 · fundraising $2,765

  • 11b · Fees: legal

    total $8,493 · program services $2,015 · management and general $6,478

  • 11c · Fees: accounting

    total $6,018 · management and general $6,018

  • 11g · Fees: other

    total $72,938 · program services $69,147 · management and general $3,791

  • 13 · Office expenses

    total $675 · management and general $675

  • 16 · Occupancy

    total $2,497 · program services $2,497

  • 17 · Travel

    total $5,580 · program services $5,580

  • 19 · Conferences, conventions and meetings

    total $3,525 · program services $120 · management and general $3,405

  • 23 · Insurance

    total $2,647 · program services $1,205 · management and general $1,442

  • 24a · Other expenses: PROGRAM ACTIVITIES

    total $45,756 · program services $45,756 · management and general $0 · fundraising $0

  • 24b · Other expenses: MEALS AND ENTERTAINMENT

    total $11,290 · management and general $11,290 · fundraising $0

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $8,943 · program services $8,393 · management and general $550 · fundraising $0

  • 24d · Other expenses: PROFESSIONAL DEVELOPMEN

    total $1,062 · program services $1,062 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $1,561 · program services $1,202 · management and general $359

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $151,622 · end of year $195,647

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,405

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,700 · end of year $2,057

  • 19 · Deferred revenue

    beginning of year $125,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $464 · end of year $976

  • 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 $25,863 · end of year $192,614

Mission and programs · 2023

Mission

GRID110 IS AN ECONOMIC AND COMMUNITY DEVELOPMENT ORGANIZATION THAT CONNECTS EARLY-STAGE ENTREPRENEURS TO MENTORING AND CRITICAL RESOURCES THROUGH FREE PROGRAMS. THE FOCUS IS TO ACTIVATE COMMUNITY AND HELP ENTREPRENEURS REALIZE SUSTAINABLE GROWTH PATHS THAT ALLOW THEM TO SCALE THEIR BUSINESSES (AND TEAMS) RIGHT HERE IN LOS ANGELES. OUR MISSION IS TO FOSTER THE MOST THRIVING, INVITING & INCLUSIVE COMMUNITY FOR ENTREPRENEURS IN LOS ANGELES. WE BELIEVE THAT ANYONE WITH THE GOAL OF BECOMING AN ENTREPRENEUR SHOULD HAVE THE CHANCE TO PURSUE IT AND RECEIVE SUPPORT ALONG THE WAY. OUR WORK IMPACTS INDIVIDUALS WHO ARE OFTEN OVERLOOKED BY TRADITIONAL ENTREPRENEURIAL ECOSYSTEMS. THAT'S WHAT DRIVES US TO MAKE THE ENTREPRENEURIAL PATH MORE EQUITABLE, INCLUSIVE AND ACCESSIBLE.

Activities or mission (Part I)

CREATING CLEARER PATHWAYS TO SUCCESS FOR EARLY STAGE ENTREPRENEURS IN LOS ANGELES.

  • RESIDENCY PROGRAM: FACILITATED 2 COHORTS OF EARLY STAGE ENTREPRENEURS PROVIDING THEM WITH ACCESS TO FREE MENTORING AND CRITICAL RESOURCES.

    Expenses $169,400

  • IDEA TO LAUNCH: FACILIATED 1 COHORT OF BEGINNING STAGE ENTREPRENEURS, PROVIDING THEM WITH ACCESS TO FREE MENTORING AND CRITICAL RESOURCES.

    Expenses $112,934

  • COMMUNITY PROGRAMS: SUPPORTED PREVIOUS PROGRAM PARTICIPANTS (ALUMNI) THROUGH OFFICE HOURS, EVENTS, WORKSHOPS. ALSO SUPPORTED EXTERNAL COMMUNITY THROUGH EVENTS.

    Expenses $94,111

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

Listed in Part VII

  • Miki Reynolds

    CEO/SEC TO 6/1/23, DIR. FROM 10/1/23

    Total calculated
    $53,606
    From this org
    $50,938
    From related orgs
    $0
    Other
    $2,668
    Hours/week
    20

  • Megan Sette

    SECRETARY/CEO

    Total calculated
    $0
    Hours/week
    3

  • Emma Mayerson

    DIRECTOR/CFO FROM 6/1/23

    Total calculated
    $0
    Hours/week
    3

  • Jared Goodner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Prashant Samant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jade Turner-Bond

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rohit Gupta

    DIRECTOR FROM 6/1/23

    Total calculated
    $0
    Hours/week
    1

  • Ashumi Shippee

    DIRECTOR UNTIL 4/18/23

    Total calculated
    $0
    Hours/week
    1

  • Stephen Kane

    DIRECTOR UNTIL 10/31/23

    Total calculated
    $0
    Hours/week
    1

  • Shrina Kurani

    EXECUTIVE DIRECTOR

    Total calculated
    $63,043
    From this org
    $63,043
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349313302

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