Growing Oaks Association

Tax-deductible

Goldsby, OK501(c)(3)EducationEIN 83-4486573

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Provide educational and supportive services for family and individual household finance management

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 9 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average deficit $878 a year · under 1% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$73K
to officers and key staff · 32% of spending
Top officer’s pay higher than 65% of similar orgs
Concern: pay to officers and key staff is 32% of spending; over 30%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $90K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$233K
-49% vs prior year
Spent
$229K
To programs
94%
Net assets
$96K
By yearFY2020–FY2024
Revenue
$233K
FY2024▼ -49%
Revenue by fiscal year
FY2020$856K
FY2021$77K
FY2022$389K
FY2023$458K
FY2024$233K
Expenses
$229K
FY2024▼ -48%
Expenses by fiscal year
FY2020$841K
FY2021$126K
FY2022$377K
FY2023$444K
FY2024$229K
Net assets
$96K
FY2024▲ +5%
Net assets by fiscal year
FY2020$115K
FY2021$66K
FY2022$77K
FY2023$91K
FY2024$96K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $214K Management & general 6% · $14K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $73K paid to officers and key staff.

Part VII, Section A · reportable compensation
Secretarytreasurer
$73,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Michelle Reynolds’s $73K as Secretarytreasurer is at the 65th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Michelle Reynolds$73,000$64,269$56,600$37,431

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Growing Oaks Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps families and individuals manage their household finances through education and support.

Provided by the organization

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2 program services account for $174K of program spending, described in the organization's own filed words · FY2024.
01

We received and managed $107,000 of funding to the newly chartered Growing Oaks Federal Credit Union, a 501c(1) organization. This not-for-profit organization engages with our clients and our community at large to help meet the banking services needs of the unserved and the underserved and those of modest means and furthers our exempt…

$107Kprogram expense
02

Conducted nine in-person 12-week classes (English and Spanish), nine in-person 9-week classes, launched online course completed by 65 individuals (English and Spanish) for a total of 239 individuals attending with a completion rate of 84%. Completed 81 one-on-one counseling sessions.

$67Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$90K
See all 3 funders →
Grants paid · 6 grants · $1.8M · 2020–2024
Growing Oaks Federal Credit UnionFY2024$107,000
Growing Oaks Federal Credit UnionFY2023$315,000
Growing Oaks Federal Credit UnionFY2022$250,000
Growing Oaks Federal Credit UnionFY2022$250,000
Growing Oaks Federal Credit UnionFY2021$38,321
Growing Oaks Federal Credit UnionFY2020$811,679

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$233K
Ln 12
Gifts and grantsLn 1h$237K
Investment incomeLn 3$503
Money outPt IX
$229K
Ln 25
Programscol B$214K
Managementcol C$14K
Owns and owesPt X
$96K
net assets · Ln 32
Cash and savingsLn 1–2$96K
Total assetsLn 16$96K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$237K
Investment incomeLn 3$503
Total revenueLn 12$233K
Assets in detailPt X, end of year
CashLn 1$63K
SavingsLn 2$33K
Cash and savings togetherLn 1–2$96K
Total assetsLn 16$96K
LiabilitiesLn 26$0
Net assetsLn 32$96K
OperationsPt I, VI
EmployeesI 52
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$87K$96K
Total assetsLn 16$91K$96K
LiabilitiesLn 26$0$0
Net assetsLn 32$91K$96K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$117K$117K
Pay of current officers, directors and key staffLn 5$73K$73K
Payroll taxesLn 10$6K$6K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$14K$8K$7K
Office expensesLn 13$329$25$304
Information technologyLn 14$4K$4K
TravelLn 17$600$600
InsuranceLn 23$9K$7K$1K
Other expenses (24a–d)Ln 24$3K$3K
Total functional expensesLn 25$229K$214K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $233K$229K$4K$96K 990 PDF
FY2023 $458K$444K$14K$91K 990 PDF
FY2022 $389K$377K$11K$77K 990 PDF
FY2021 $77K$126K−$49K$66K 990 PDF
FY2020 $856K$841K$15K$115K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $232,819 across 5 lines filed
Lines not itemized here account for −$4,625 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$236,941
VIII-1h Total contributions, gifts and grants$236,941
VIII-3 Investment incomeRelated to mission $503$503
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission −$4,122 · Unrelated business $0 · Excluded from tax $0$232,819
Part IX · Statement of functional expenses $228,633 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $117,034$117,034
IX-5 Pay of current officers, directors and key staffPrograms $73,000$73,000
IX-10 Payroll taxesPrograms $5,584$5,584
IX-11c Accounting feesManagement $1,719$1,719
IX-11g Other fees for servicesPrograms $7,650 · Management $6,720$14,370
IX-13 Office expensesPrograms $25 · Management $304$329
IX-14 Information technologyManagement $4,476$4,476
IX-17 TravelPrograms $600$600
IX-23 InsurancePrograms $7,240 · Management $1,265$8,505
IX-24 Other expenses (24a–d)Programs $3,016$3,016
IX-25 Total functional expensesPrograms $214,149 · Management $14,484 · Fundraising $0$228,633
Part X · Balance sheet $95,608 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $6,754$62,703
X-2 Savings and temporary cash investmentsStart of year $80,043$32,905
X-16 Total assetsStart of year $91,422$95,608
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $51,931$56,163
X-28 Net assets with donor restrictionsStart of year $39,491$39,445
X-32 Total net assets or fund balancesStart of year $91,422$95,608
X-33 Total liabilities and net assetsStart of year $91,422$95,608
Part XI · Reconciliation of net assets $95,608 net assets at year end
XI-1 Total revenue$232,819
XI-2 Total expenses$228,633
XI-3 Revenue less expenses$4,186
XI-4 Net assets at start of year$91,422
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$95,608

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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