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Gk Fund INC FY2021 filing

Tax-deductible

Charlestown, MA501(c)(3)Since 2020Community DevelopmentEIN 84-5048084Revenue $75K in FY2021

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.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2021 · 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
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
12
of 16 voting members
Looks good: 12 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$75K
Spent
$0
Net assets
$75K
By yearFY2021–FY2025
Revenue
$75K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$75K
FY2022$68K
FY2023$17K
FY2024$269K
FY2025$79K
Expenses
$0
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$0
FY2022Not on file
FY2023Not on file
FY2024$77K
FY2025$130K
Net assets
$75K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$75K
FY2022$159K
FY2023$52K
FY2024$243K
FY2025$192K

From the FY2021 Form 990 (year ending January 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

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

Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Michael Benezra
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sean Curran
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 · in their own filed words · FY2020
01

The organization held the funds to be used in a following year. 2020 is the initial year, and no ACTIVITY/SERVICE accomplishments occurred in 2020.

Pt IX · col B

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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$75K
Ln 12
Gifts and grantsLn 1h$75K
Money outPt IX
$0
Ln 25
Owns and owesPt X
$75K
net assets · Ln 32
Cash and savingsLn 1–2$75K
Total assetsLn 16$75K
LiabilitiesLn 26$0
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$75K
Total revenueLn 12$75K
Assets in detailPt X, end of year
CashLn 1$75K
Cash and savings togetherLn 1–2$75K
Total assetsLn 16$75K
LiabilitiesLn 26$0
Net assetsLn 32$75K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJanuary
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 FY21End FY21
Cash and savingsLn 1–2$75K
Total assetsLn 16$0$75K
LiabilitiesLn 26$0$0
Net assetsLn 32$0$75K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $79K$130K−$51K$192K 990 PDF
FY2024 $269K$77K$192K$243K 990 PDF
FY2023 $17K$52K 990 PDF
FY2022 $68K$159K 990 PDF
FY2021 Viewing $75K$0$75K$75K 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 FY2021 990 (6 parts)
Part I · Summary $75,000 revenue, 12 lines filed
I-8 Contributions and grants$75,000
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$75,000
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$0
I-18 Total expenses$0
I-19 Revenue less expenses$75,000
Part VI · Governance 12 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members12
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $75,000 across 3 lines filed
VIII-1f All other contributions, gifts and grants$75,000
VIII-1h Total contributions, gifts and grants$75,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$75,000
Part IX · Statement of functional expenses $0 across 0 lines filed
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $75,000 assets, 5 lines filed
X-1 Cash, non-interest-bearing$75,000
X-16 Total assetsStart of year $0$75,000
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $0$75,000
X-33 Total liabilities and net assetsStart of year $0$75,000
Part XI · Reconciliation of net assets $75,000 net assets at year end
XI-1 Total revenue$75,000
XI-2 Total expenses$0
XI-3 Revenue less expenses$75,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$75,000

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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