Totals
- Total revenue
- $1,145,679
- Total expenses
- $951,503
- Contributions and grants received
- $976,755
- Grants paid
- $0
- Program service revenue
- $150,833
- Investment income
- $18,091
- Other revenue
- $0
- Total assets, end of year
- $817,651
- Total liabilities, end of year
- $199,440
- Net assets or fund balances, end of year
- $618,211
- Program services expenses (Part IX)
- $865,778
- Management and general expenses
- $69,696
- Fundraising expenses
- $16,029
- Program service expenses (Part III)
- $865,778
Program services were 91.0% 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.
-
1f · All other contributions, gifts and grants
$976,755
-
2a · Program service revenue: RESEARCH AND DEVELOPME
total $150,833 · related or exempt $150,833
-
3 · Investment income
total $18,091 · excluded $18,091
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $162,564 · program services $139,625 · management and general $14,337 · fundraising $8,602
-
11b · Fees: legal
total $1,376 · management and general $1,376
-
11c · Fees: accounting
total $41,845 · management and general $41,845
-
11g · Fees: other
total $578,715 · program services $562,577 · management and general $10,086 · fundraising $6,052
-
12 · Advertising and promotion
total $5,508 · program services $5,358 · fundraising $150
-
13 · Office expenses
total $2,525 · program services $2,170 · management and general $222 · fundraising $133
-
14 · Information technology
total $37,828 · program services $36,542 · management and general $804 · fundraising $482
-
16 · Occupancy
total $1,994 · program services $1,675 · management and general $199 · fundraising $120
-
17 · Travel
total $9,361 · program services $8,753 · management and general $380 · fundraising $228
-
19 · Conferences, conventions and meetings
total $105,383 · program services $105,383
-
22 · Depreciation, depletion and amortization
total $69 · program services $58 · management and general $7 · fundraising $4
-
23 · Insurance
total $4,202 · program services $3,530 · management and general $420 · fundraising $252
-
24e · All other expenses
total $133 · program services $107 · management and general $20 · fundraising $6
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $446,249 · end of year $87,347
-
2 · Savings and temporary cash investments
end of year $668,031
-
3 · Pledges and grants receivable
beginning of year $102,800 · end of year $10,000
-
4 · Accounts receivable
beginning of year $21,670 · end of year $21,168
-
5 · Loans and receivables from officers and key people
beginning of year $776 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $27,705 · end of year $29,796
-
10a · Land, buildings and equipment: cost or other basis
$1,378
-
10b · Land, buildings and equipment: accumulated depreciation
$69
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $1,309
-
17 · Accounts payable and accrued expenses
beginning of year $145,165 · end of year $134,440
-
19 · Deferred revenue
beginning of year $30,000 · end of year $65,000
-
27 · Net assets without donor restrictions
beginning of year $143,834 · end of year $211,004
-
28 · Net assets with donor restrictions
beginning of year $280,201 · end of year $407,207
Mission and programs · 2024
Mission
TO INCREASE ECONOMIC AND SOCIAL MOBILITY BY EQUIPPING INNOVATORS WITH TEAMS OF EXPERIENCED SOCIAL ENTREPRENEURS WHO CAN HELP THEM ACCELERATE THEIR SECTOR-CHANGING IDEAS. SOLUTIONS FOR THE WORLD'S MOST PRESSING SOCIAL CHALLENGES ARE OFTEN ENVISIONED BY LEADERS OF THE NONPROFITS AND UNIVERSITIES FACING THOSE CHALLENGES EVERY DAY. UNFORTUNATELY, THOSE LEADERS ARE OFTEN TOO BUSY RUNNING THEIR ORGANIZATIONS TO MOVE THE BIG IDEA, SO IT NEVER LEAVES THE DRAWING BOARD. THE FOUNDATION IS A SOCIAL-IMPACT ORGANIZATION THAT PROVIDES ENTREPRENEURIAL CAPACITY TO HELP PARTNERS MOVE THEIR BIG IDEA FROM CONCEPT TO CONCRETE.
Activities or mission (Part I)
ACCELERATE ECONOMIC & SOCIAL MOBILITY SOLUTIONS BY EQUIPPING INNOVATORS WITH TEAMS OF EXPERIENCED SOCIAL ENTREPRENEURS
-
OBSIDIAN ECOSYSTEM INITIATIVE - BLACK AND BROWN REAL ESTATE DEVELOPERS SEED MULTIDIMENSIONAL INFRASTRUCTURE. THE OBSIDIAN ECOSYSTEM INITIATIVE CONNECTS THE NATION'S TOP EMERGING BLACK AND BROWN REAL ESTATE DEVELOPERS WITH EDUCATION, WORKFORCE, AND INFRASTRUCTURE INNOVATORS TO PROVIDE BREAKTHROUGH NEIGHBORHOOD-LEVEL SOCIAL AND ECONOMIC MOBILITY OUTCOMES.
Expenses $252,617
-
CONSORTIUM - A CONSORTIUM OF THE NATION'S HIGHLY-SELECTIVE COLLEGES AND HIGH-IMPACT COMMUNITY-BASED ORGANIZATIONS CREATES A MORE EQUITABLE APPLICATION PROCESS FOR STUDENTS FROM LOW-INCOME BACKGROUNDS.
Expenses $488,590 · Revenue $117,500
-
THE REDEMPTIVE LEADERSHIP PROJECT SEEKS TO CREATE A SPACE FOR PEOPLE WITH MEANINGFUL DIFFERENCES TO COME TOGETHER IN TRUE FELLOWSHIP, DURING A TIME WHEN FEWER AND FEWER SUCH SPACES EXIST. THE COLLECTIVE CURATED AN INVITATION LIST TO BRING TOGETHER A COMMUNITY WITH DIVERSE EXPRESSIONS OF EMBODIED FAITH AND EXPERIENCE, REPRESENTING DIFFERENT CULTURES, DENOMINATIONS, POLITICAL VIEWS, SEXUAL ORIENTATIONS, ROLES IN EDUCATION, AND UNDERSTANDINGS OF GOD. THE COLLECTIVE DEEPLY BELIEVES IN THE POWER OF BUILDING COMMUNITY ACROSS MANY LINES OF DIFFERENCE, AND LOOKS FORWARD TO CO-CREATING A SACRED AND BRAVE SPACE OF LISTENING, LEARNING, AND COMMUNITY.
Expenses $66,125
-
YOUTHCREATE PROVIDES A NATIONAL SUPPORT SYSTEM THAT EMPOWERS LOCAL NONPROFITS TO ENGAGE YOUNG PEOPLE IN LEADING HIGH-QUALITY COMMUNITY IMPROVEMENT PROJECTS AND CREATING SOLUTIONS THAT STRENGTHEN THEIR COMMUNITIES.
Expenses $8,161
-
LEADERSHIP INITIATIVE FOR FAITH AND EDUCATION (LIFE) BUILDS PARTNERSHIPS BETWEEN SCHOOLS AND FAITH COMMUNITIES IN THE U.S., SUPPORTING THE LIFE INITIATIVE AT HARVARD'S GRADUATE SCHOOL OF EDUCATION. THE PROGRAM AIMS TO CLARIFY THE CENTER'S UNIQUE, VALUABLE CONTRIBUTION TO THE FIELD AND DEVELOP A STRATEGY TO EXPAND THE IMPACT OF LIFE.
Expenses $50,285 · Revenue $33,333
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jacob SchrammJACOB SCHRAMM
MANAGING PARTNER
- Total calculated
- $212,825
- From this org
- $212,825
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $212,825
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $212,825
-
Scott SiffSCOTT SIFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Emmanuel FortuneEMMANUEL FORTUNE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kevin RobinsonKEVIN ROBINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kinney ZalesneKINNEY ZALESNE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nicole Baker FulghamNICOLE BAKER FULGHAM
DIRECTOR
- Total calculated
- $24,678
- From this org
- $24,678
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
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
- 2 · Substantiation required before reimbursing expenses
- 3 · Form 990 of other organizations
- 3 · Approval by the board or compensation committee
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
The filer's explanations (Part III)
- PART I, LINE 3
- MULTIPLE MEMBERS OF THE BOARD SOURCED THIRD PARTY CEO PAY COMPARABLES FOR AN ORGANIZATION OF GROVE COLLECTIVE FOUNDATION'S SIZE AND SHARED THE DATA WITH THE ENTIRE BOARD. AFTER REVIEWING THE DATA, THE BOARD VOTED UNANIMOUSLY TO APPROVE THE CEO COMPENSATION.
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 August 2026
- IRS schema version
- 2024v5.5
- Source object
- 202642229349300929
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