Overview
What is Grow Brooklyn Inc?
Grow Brooklyn Inc is a nonprofit organization situated in Brooklyn, New York, specifically at 1474 Myrtle Avenue, 11237. Their primary mission is to empower their community by helping individuals preserve and expand their assets, thereby ensuring a secure financial future. An essential part of their work involves partnering annually with the IRS to provide free tax preparation services to low-income individuals. With a commitment to service, Grow Brooklyn Inc has been one of the IRS' top 50 VITA (Volunteer Income Tax Assistance) providers for the past 12 years, catering to over 8,000 tax returns annually. Around one-third of these returns include the Earned Income Credit (EIC). With a dedicated staff of 48 employees, Grow Brooklyn Inc plays a significant role in the Brooklyn community, contributing to financial stability and growth for its members.
Official website here: www.growbrooklyn.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
Grow Brooklyn Inc has earned a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization scored 96% in this category, showcasing effective governance and transparency. Notably, it achieved full marks in several critical areas, including the independence of its board members and comprehensive financial oversight.
The charity boasts an entirely independent board, with all eight members meeting the criteria for independence. Additionally, the organization has demonstrated a solid financial management strategy, with a program expense ratio of 84.45%, ensuring that the majority of its resources are directed towards its programs and services. This efficiency indicates a strong alignment with its mission and effective use of donor funds.
While the data shows no significant weaknesses, the focus on financial metrics suggests that potential supporters may want to seek additional information on the organization's programs and impact. Overall, Grow Brooklyn Inc appears to uphold a high standard of accountability, making it a reliable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Grow Brooklyn Inc legitimate?
Grow Brooklyn Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grow Brooklyn Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $79,128
Professional Fundraising Fees: $0
Other Salaries and Wages: $770,862
For more financial information, click here
Official website here: www.growbrooklyn.org/
What is the mission statement of Grow Brooklyn Inc?
Grow Brooklyn Inc, a non-profit organization, aims to empower its community members by helping them preserve and grow their assets. This mission is designed to secure their economic future. The organization annually partners with the IRS to provide quality, free tax preparation services to low-income individuals. Over the past 12 years, Grow Brooklyn Inc has become one of the IRS' top 50 VITA (Volunteer Income Tax Assistance) providers in the country, preparing over 8,000 tax returns annually. A significant portion of these returns claim the Earned Income Credit (EIC).
Official website here: www.growbrooklyn.org/
Who is the CEO of Grow Brooklyn Inc?
Makeela Brathwaite is the Secretary of Grow Brooklyn Inc.
Official website here: www.growbrooklyn.org/
What is the revenue of Grow Brooklyn Inc?
Grow Brooklyn Inc's revenue in 2022 was $1,322,701.
Official website here: www.growbrooklyn.org/
Who are the executives of Grow Brooklyn Inc and what are their salaries?
The average compensation at Grow Brooklyn Inc during 2022 was $17,708. There are 48 employees and 60 volunteers at Grow Brooklyn Inc.
Here are 6 key members and their salaries:
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- Compensation: $67,802
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- Other: $0
Official website here: www.growbrooklyn.org/
Where can I find the form 990 for Grow Brooklyn Inc?
Grow Brooklyn Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.growbrooklyn.org/
Learn more at the official website: www.growbrooklyn.org/
Mission Statement of Grow Brooklyn Inc
Grow Brooklyn Inc, a non-profit organization, is dedicated to empowering its community members to preserve and grow their assets. This mission aims to secure their economic future. The organization achieves this by partnering annually with the Internal Revenue Service (IRS) to provide quality, free tax preparation services to low-income individuals. Grow Brooklyn Inc has been doing this for the past 12 years and is recognized as one of the IRS' top 50 VITA (Volunteer Income Tax Assistance) providers in the country. As the largest non-commercial tax preparer in Brooklyn, Grow Brooklyn Inc prepares over 8,000 tax returns annually, with about one-third of these returns claiming the Earned Income Credit (EIC).
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Impact
October, 2024
Grow Brooklyn Inc has a significant impact on the community by empowering individuals to enhance their financial stability and secure their economic futures. Through its comprehensive services, the organization offers free tax preparation assistance to low-income residents, a vital resource that facilitates access to essential tax credits like the Earned Income Credit (EIC). Over the past 12 years, Grow Brooklyn has prepared more than 8,000 tax returns annually, establishing itself as one of the country's leading Volunteer Income Tax Assistance (VITA) providers.
By partnering with the IRS, Grow Brooklyn not only serves as the largest non-commercial tax preparer in Brooklyn but also plays a pivotal role in preserving and growing the assets of community members. This initiative not only alleviates financial burdens for families but also strengthens the local economy by ensuring individuals receive the benefits and credits they are entitled to. Overall, Grow Brooklyn's efforts contribute to building a more secure and economically vibrant community.
This information is meant to be a general summary of Grow Brooklyn Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,481
- Program Service Revenue: $2,925
- Gross Receipts: $1,322,701
Assets and Liabilities:
- Total Assets: $920,156
- Total Liabilities: $389,091
- Net Assets: $531,065
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEES
Revenue
$2,925
Organization Details
Founding Year
2007
Phone
(718) 418-8232Principal Officer
Makeela Brathwaite
Main Address
1474 MYRTLE AVENUE, BROOKLYN, NY, 11237
Website
www.growbrooklyn.org/NTEE Category
Code: P51 - Human services
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