Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2001.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
90 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
10 people listed on the 990.
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 15aYes
Programs and updates
Provides innovative loans and grants to Arizona small businesses to foster a clean economy and support communities recovering from economic challenges.
Questions for Groundswell Capital
Your first name shows with your question. Groundswell Capital answers here, for everyone.
Community Grants
Groundswell capital receives pass-through grant funding from various organizations and uses these funds to distribute community grants. Depending on the terms of each contract, we may receive an administrative fee for managing the grant process.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 86-1017490) · Dispute this lineSmall Business Loans
Groundswell issues uncollateralized, small business loans to borrowers in arizona. We have flexible underwriting standards and focus on character based lending. This helps us serve communities that are otherwise overlooked by traditional banking lenders.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 86-1017490) · Dispute this lineEducation and Workshops
Groundswell provides technical assistance to its loan borrowers and the wider business community. We host office hours as well as workshops in our tucson small business center. We offer our classes in both english and spanish.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 86-1017490) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.0M | $657K |
| InvestmentsLn 11–13 | $10.8M | |
| Total assetsLn 16 | $3.2M | $13.8M |
| LiabilitiesLn 26 | $1.4M | $11.5M |
| Net assetsLn 32 | $1.8M | $2.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $234K | $234K | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $175K | $154K | $20K | |
| Other salaries and wagesLn 7 | $2K | $2K | $275 | |
| Pension plan contributionsLn 8 | $845 | $743 | $102 | |
| Other employee benefitsLn 9 | $5K | $4K | $566 | |
| Payroll taxesLn 10 | $14K | $12K | $2K | |
| Legal feesLn 11b | $13K | $13K | ||
| Accounting feesLn 11c | $7K | $7K | ||
| Other fees for servicesLn 11g | $67K | $61K | $6K | |
| Advertising and promotionLn 12 | $928 | $928 | ||
| Office expensesLn 13 | $6K | $4K | $1K | $489 |
| Information technologyLn 14 | $19K | $19K | ||
| OccupancyLn 16 | $5K | $5K | ||
| TravelLn 17 | $1K | $1K | $3 | |
| InterestLn 20 | $20K | $20K | ||
| InsuranceLn 23 | $7K | $7K | ||
| Other expenses (24a–d)Ln 24 | $15K | $3K | $11K | $0 |
| Total functional expensesLn 25 | $592K | $535K | $50K | $7K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS Apr 28, 2026 | $1.1M | $592K | $472K | $2.3M | 990 PDF |
| FY2024Filed with the IRS May 15, 2025 | $2.7M | $1.0M | $1.7M | $2.1M | 990 PDF |
| FY2023Filed with the IRS May 15, 2024 | $1.0M | $584K | $420K | $420K | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $1,063,297 revenue, 12 lines filed
Part VI · Governance 9 of 10 board members independent, no flags
Part VIII · Statement of revenue $1,063,297 across 13 lines filed
Part IX · Statement of functional expenses $591,509 across 17 lines filed
Part X · Balance sheet $13,828,734 assets, 15 lines filed
Part XI · Reconciliation of net assets $2,291,773 net assets at year end
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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