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Groundswell Charitable Foundation FY2022 filing

Tax-deductible

El Segundo, CA501(c)(3)Since 2021Foundations & GrantmakersEIN 87-1530516Revenue $2.8M in FY2022

On file with the IRSgroundswellcharitable.foundation880 Apollo St Ste 246, 90245-4782 · El Segundo, CATax-exempt since Aug 2021Publicly supported charity — 170(b)(1)(A)(vi)

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Building bridges between companies and nonprofits by empowering a new generation of modern philantropists with the tools they need to make the most impact.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
3 of 3
filings with a surplus
Average surplus $3.5M a year · 54% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $300K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$232K
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.8M
Spent
$1.8M
To programs
98%
Net assets
$1.0M
By yearFY2022–FY2024
Revenue
$2.8M
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$2.8M
FY2023$4.9M
FY2024$11.9M
Expenses
$1.8M
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2022$1.8M
FY2023$2.7M
FY2024$4.6M
Net assets
$1.0M
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$1.0M
FY2023$3.3M
FY2024$10.5M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2021.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $1.7M Management & general 2% · $37K Fundraising 0% · $8K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Jake Wood
President & Director
$0Pt VII · Sec A
Joe Marchese
Treasurer
$0Pt VII · Sec A
Adam Miller
Secretary
$0Pt VII · Sec A
Sean Beidler
Director
$0Pt VII · Sec A
Julie Brandt
Director
$0Pt VII · Sec A
See Groundswell Charitable Foundation 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

Empowering young philanthropists to connect companies and nonprofits for greater impact.

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2022
01

In 2022, the groundswell charitable foundation received $2,780,608 in contributions, and disbursed $,1558,692 in donations at the advice of donors. Over 1,600 individual donations were made, constituting approximately 975 unique nonprofit recipients. The median donation amount in 2022 was $75.

$1.7Mprogram 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 · FY2025
Ingredion Charitable FoundationFY2025$300K
Total grants receivedfrom 1 funder$300K
Grants paid · 143 grants · $5.5M · 2022–2024
Team Rubicon INCCA · FY2024$330,000
Team Rubicon INCCA · FY2024$330,000
Las Vegas Super Bowl Host CommitteeNV · FY2024$250,000
Las Vegas Super Bowl Host CommitteeNV · FY2024$250,000
Better Angels United INCCA · FY2024$175,000
Better Angels United INCCA · FY2024$175,000
Melanoma Research Alliance FoundationDC · FY2024$90,000
Melanoma Research Alliance FoundationDC · FY2024$90,000
Mission of Hope INC Mission of Hope Haiti INCTX · FY2024$75,000
International Center for Responsible GamingMA · FY2024$75,000
Mission of Hope INC Mission of Hope Haiti INCTX · FY2024$75,000
International Center for Responsible GamingMA · FY2024$75,000
Person to Person INCCT · FY2024$64,500
Person to Person INCCT · FY2024$64,500
Son of a SaintLA · FY2024$50,000
Son of a SaintLA · FY2024$50,000
Charityvest INCCT · FY2024$48,125
Charityvest INCCT · FY2024$48,125
See all 143 grants →

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.8M
Ln 12
Gifts and grantsLn 1h$2.8M
Investment incomeLn 3$2K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.7M
Managementcol C$37K
Fundraisingcol D$8K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$1.2M
LiabilitiesLn 26$232K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.8M
Investment incomeLn 3$2K
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$1.2M
Cash and savings togetherLn 1–2$1.2M
Total assetsLn 16$1.2M
LiabilitiesLn 26$232K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$0$1.2M
LiabilitiesLn 26$0$232K
Net assetsLn 32$0$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.6M$1.6M
Other salaries and wagesLn 7$141K$120K$14K$7K
Other employee benefitsLn 9$5K$4K$458$229
Legal feesLn 11b$43K$43K
Other fees for servicesLn 11g$11K$9K$1K$553
Other expenses (24a–d)Ln 24$21K$21K
Total functional expensesLn 25$1.8M$1.7M$37K$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $11.9M$4.6M$7.3M$10.5M 990 PDF
FY2023 $4.9M$2.7M$2.3M$3.3M 990 PDF
FY2022 Viewing $2.8M$1.8M$1.0M$1.0M 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 FY2022 990 (6 parts)
Part I · Summary $2,782,421 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$2,780,608
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$1,813
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$2,782,421
I-13 Grants and similar amounts paidPrior year $0$1,558,692
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$145,231
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$74,593
I-18 Total expensesPrior year $0$1,778,516
I-19 Revenue less expensesPrior year $0$1,003,905
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,782,421 across 4 lines filed
VIII-1f All other contributions, gifts and grants$2,780,608
VIII-1h Total contributions, gifts and grants$2,780,608
VIII-3 Investment incomeExcluded from tax $1,813$1,813
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,813$2,782,421
Part IX · Statement of functional expenses $1,778,516 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $1,558,692$1,558,692
IX-7 Other salaries and wagesPrograms $119,552 · Management $14,065 · Fundraising $7,032$140,649
IX-9 Other employee benefitsPrograms $3,895 · Management $458 · Fundraising $229$4,582
IX-11b Legal feesPrograms $42,560$42,560
IX-11g Other fees for servicesPrograms $9,399 · Management $1,106 · Fundraising $553$11,058
IX-24 Other expenses (24a–d)Management $20,975$20,975
IX-25 Total functional expensesPrograms $1,734,098 · Management $36,604 · Fundraising $7,814$1,778,516
Part X · Balance sheet $1,235,867 assets, 8 lines filed
X-1 Cash, non-interest-bearing$1,235,867
X-16 Total assetsStart of year $0$1,235,867
X-17 Accounts payable and accrued expenses$14,580
X-25 Other liabilitiesStart of year $0$217,382
X-26 Total liabilitiesStart of year $0$231,962
X-27 Net assets without donor restrictions$1,003,905
X-32 Total net assets or fund balancesStart of year $0$1,003,905
X-33 Total liabilities and net assetsStart of year $0$1,235,867
Part XI · Reconciliation of net assets $1,003,905 net assets at year end
XI-1 Total revenue$2,782,421
XI-2 Total expenses$1,778,516
XI-3 Revenue less expenses$1,003,905
XI-4 Net assets at start of year$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,003,905

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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