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Gk Fund INC

Tax-deductible

Charlestown, MA501(c)(3)Since 2020Community Development EIN 84-5048084Revenue $79K in FY2025

On file with the IRSthegkfund.org529 Main St Ste P200, 02129-1134 · Charlestown, MATax-exempt since Apr 2021Publicly supported charity — 170(b)(1)(A)(vi)

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The organization's mission is to support the growth of minority and women owned or operated companies. The Fund will serve as a vehicle for corporations and nonprofits to make social investments, create new initiatives, offer resources, engage in mentoring and take other measures.

501(c)(3) charity; gifts are tax-deductible.
54¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $72K a year · 51% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
54%
of spending
Worth a look: 54% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 17.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $60K
Fine: 2 funders name it on their filings; under 3.
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
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$79K
-71% vs prior year
Spent
$130K
To programs
54%
Net assets
$192K
By yearFY2021–FY2025
Revenue
$79K
FY2025▼ -71%
Tap a bar for its year
Revenue by fiscal year
FY2021$75K
FY2022$68K
FY2023$17K
FY2024$269K
FY2025$79K
Expenses
$130K
FY2025▲ +69%
Tap a bar for its year
Expenses by fiscal year
FY2021$0
FY2022Not on file
FY2023Not on file
FY2024$77K
FY2025$130K
Net assets
$192K
FY2025▼ -21%
Tap a bar for its year
Net assets by fiscal year
FY2021$75K
FY2022$159K
FY2023$52K
FY2024$243K
FY2025$192K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2021.

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

Where the money goes

54 cents of each dollar spent went to programs.

Program services 54% · $70K Management & general 46% · $60K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ron Levin
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Sean Curran
Director
$0Pt VII · Sec A
Susan Portin
Director
$0Pt VII · Sec A
See Gk Fund INC 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports minority and women-owned businesses through investment, resources, and mentorship.

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Provided by the organization

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1 program · $70K · in their own filed words · FY2025
01

The organization works to close the race and gender wealth gap by increasing access to capital, providing mentorship, free legal services and other resources to entrepreneurs from underrepresented groups, including but not limited to founders who identify as bipoc, women, lgbtqia, or veteran of the U.S. Armed forces.

$70Kprogram expense

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
Boston Foundation INCFY2024$50K
The New Commonwealth Racial Equity and Social Justice Fund INCFY2024$10K
Total grants receivedfrom 2 funders$60K
Grants paid · 9 grants · $90K · 2024–2025
Prophet Envot Co Rhesa TeesdaleFY2025$10,000
Microvitality INCFY2025$10,000
Melt in Your Mouth LLC - Silpa PandeFY2025$10,000
Diamond Aesthetics Academy INCFY2024$10,000
Back to Home Healthcare Service LLCFY2024$10,000
Yss Foods CorpFY2024$10,000
Manka INCFY2024$10,000
Ronin Bjj & Fitness LLCFY2024$10,000
Vida Buena CorpFY2024$10,000

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$79K
Ln 12
Gifts and grantsLn 1h$79K
Money outPt IX
$130K
Ln 25
Programscol B$70K
Managementcol C$60K
Owns and owesPt X
$192K
net assets · Ln 32
Cash and savingsLn 1–2$192K
Total assetsLn 16$192K
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$79K
Total revenueLn 12$79K
Assets in detailPt X, end of year
CashLn 1$192K
Cash and savings togetherLn 1–2$192K
Total assetsLn 16$192K
LiabilitiesLn 26$0
Net assetsLn 32$192K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$243K$192K
Total assetsLn 16$243K$192K
LiabilitiesLn 26$0$0
Net assetsLn 32$243K$192K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$30K$30K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$1K$1K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$92K$40K$52K
Total functional expensesLn 25$130K$70K$60K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $79K$130K−$51K$192K 990 PDF
FY2024 $269K$77K$192K$243K 990 PDF
FY2023 $17K$52K 990 PDF
FY2022 $68K$159K 990 PDF
FY2021 $75K$0$75K$75K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $79,100 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $268,606$79,100
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $268,606$79,100
I-13 Grants and similar amounts paidPrior year $60,000$30,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $17,015$100,432
I-18 Total expensesPrior year $77,015$130,432
I-19 Revenue less expensesPrior year $191,591−$51,332
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $79,100 across 3 lines filed
VIII-1f All other contributions, gifts and grants$79,100
VIII-1h Total contributions, gifts and grants$79,100
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$79,100
Part IX · Statement of functional expenses $130,432 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $30,000$30,000
IX-11c Accounting feesManagement $2,000$2,000
IX-12 Advertising and promotionManagement $4,079$4,079
IX-13 Office expensesManagement $1,174$1,174
IX-23 InsuranceManagement $1,370$1,370
IX-24 Other expenses (24a–d)Programs $40,184 · Management $51,625$91,809
IX-25 Total functional expensesPrograms $70,184 · Management $60,248 · Fundraising $0$130,432
Part X · Balance sheet $191,927 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $243,259$191,927
X-16 Total assetsStart of year $243,259$191,927
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $51,668$191,927
X-28 Net assets with donor restrictionsStart of year $191,591$0
X-32 Total net assets or fund balancesStart of year $243,259$191,927
X-33 Total liabilities and net assetsStart of year $243,259$191,927
Part XI · Reconciliation of net assets $191,927 net assets at year end
XI-1 Total revenue$79,100
XI-2 Total expenses$130,432
XI-3 Revenue less expenses−$51,332
XI-4 Net assets at start of year$243,259
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$191,927

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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