Overview
What is Grid110 Inc?
Grid110 Inc is a nonprofit organization situated in Los Angeles, California, with a mission to support early-stage entrepreneurs. Their primary activity involves facilitating a business accelerator program, providing 15 companies with free mentoring and vital business resources for a duration of three months. The focus of this program is on historically underrepresented entrepreneurs, including Black, Latinx, AAPI, and women, to enhance their business acumen and access to capital across Los Angeles. As an economic and community development organization, Grid110 aims to create clearer pathways to success for these entrepreneurs, enabling them to sustainably grow their businesses in Los Angeles. With a strong commitment to fostering an inclusive and inviting community, Grid110 strives to make the entrepreneurial path more equitable, accessible, and inclusive for anyone pursuing entrepreneurship. As of the provided information, the organization has a total of 6 employees.
Official website here: www.grid110.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58%, One-Star out of Four Stars
Grid110 Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial accountability and transparency. While the organization boasts a fully independent board with strong governance practices, it falls short in essential areas such as financial statements and key policy documentation. This low rating reflects the importance of these factors in assessing the overall health and reliability of a nonprofit.
Strengths of Grid110 Inc include its high program expense ratio of 81.28%, which signifies that a large portion of its expenditures is directed towards its programs rather than administrative costs. Additionally, there are no noted material diversions of assets, and the organization has established conflict of interest policies. However, the absence of a whistleblower policy and missing financial documentation severely impact its overall accountability score.
In summary, while Grid110 Inc demonstrates some solid governance practices and a focus on program expenditures, the lack of financial transparency and missing key operational policies suggest that potential donors should exercise caution. Improvement in these areas could enhance public trust and support for the organization, allowing it to better fulfill its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Grid110 Inc legitimate?
Grid110 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grid110 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: $111,870
Professional Fundraising Fees: $0
Other Salaries and Wages: $350,512
For more financial information, click here
Official website here: www.grid110.org
What is the mission statement of Grid110 Inc?
Grid110 Inc is an economic and community development organization with a mission to provide mentoring and critical resources to early-stage entrepreneurs, enabling them to realize sustainable growth paths for their businesses. The organization's focus is to foster a thriving, inviting, and inclusive community for entrepreneurs, believing that everyone with the goal of becoming an entrepreneur should have the opportunity to pursue it and receive support along the way. Grid110 aims to make the entrepreneurial path more equitable, inclusive, and accessible, particularly for individuals often overlooked by traditional entrepreneurial ecosystems. By offering free programs, Grid110 works to connect entrepreneurs to the resources they need to thrive.
Official website here: www.grid110.org
Who is the CEO of Grid110 Inc?
Shrina Kurani is the Secretary of Grid110 Inc. The CEO's salary of Grid110 Inc is $114,361 and their total compensation is $120,839.
Official website here: www.grid110.org
What is the revenue of Grid110 Inc?
Grid110 Inc's revenue in 2022 was $626,792.
Official website here: www.grid110.org
Who are the executives of Grid110 Inc and what are their salaries?
The average compensation at Grid110 Inc during 2022 was $77,064. There are 6 employees and 50 volunteers at Grid110 Inc.
Here are 7 key members and their salaries (Grid110 Inc's CEO's salary is $114,361 and their total compensation is $120,839):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $114,361
- Related: $0
- Other: $6,478
Official website here: www.grid110.org
Where can I find the form 990 for Grid110 Inc?
Grid110 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.grid110.org
Learn more at the official website: www.grid110.org
Mission Statement of Grid110 Inc
Grid110 Inc is an economic and community development organization dedicated to creating clearer pathways to success for early-stage entrepreneurs in various fields. Their mission is to connect these entrepreneurs with essential resources and mentoring opportunities through free programs. The primary focus of Grid110 Inc is to help these individuals realize sustainable growth paths for their businesses and teams, enabling them to thrive in their local community. By fostering a thriving, inviting, and inclusive environment for entrepreneurs, Grid110 Inc aims to provide a chance for anyone with the goal of becoming an entrepreneur to pursue their dream, with support along the way. This organization specifically targets individuals who may be overlooked by traditional entrepreneurial ecosystems, thereby making the entrepreneurial path more equitable, inclusive, and accessible.
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Impact
July, 2024
Grid110 Inc's impact can be seen in the clearer pathways it creates for early-stage entrepreneurs in Los Angeles. Through its residency program, Grid110 facilitates a business accelerator cohort for historically underrepresented entrepreneurs, including Black, Latinx, AAPI, and women, providing them with access to free mentoring and critical business resources for three months. By focusing on increasing their business acumen and access to capital, Grid110 is actively working to activate the community and help entrepreneurs realize sustainable growth paths. The organization's mission is to foster the most thriving, inviting, and inclusive community for entrepreneurs in Los Angeles, ensuring that anyone with the goal of becoming an entrepreneur has the chance to pursue it and receive support along the way. Grid110's work impacts individuals who are often overlooked by traditional entrepreneurial ecosystems, driving the organization to make the entrepreneurial path more equitable, inclusive, and accessible.
This information is meant to be a general summary of Grid110 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.
- Gross Receipts: $626,792
Assets and Liabilities:
- Total Assets: $155,027
- Total Liabilities: $129,164
- Net Assets: $25,863
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Organization Details
Founding Year
2015
Phone
(424) 257-0289Principal Officer
Shrina Kurani
Main Address
360 E 2ND STREET 800, LOS ANGELES, CA, 90012
Website
www.grid110.orgNTEE Category
Code: J22 - Employment
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