Overview
What is Groundswell Startups Inc?
Groundswell Startups Inc, based in Melbourne, Florida, is a nonprofit organization that offers a multitude of resources and opportunities for entrepreneurs. By joining their network, individuals gain access to tailored workshops, designed to cater to various stages of entrepreneurship, from idea testing to scaling a business. The organization also provides mentorship, connecting early-stage companies with industry experts in areas such as business strategy, manufacturing, and capital raising. Additionally, Groundswell offers a riverside coworking space, equipped with free amenities and the chance to collaborate with local entrepreneurs. Regular events, including founder talks, discussions, and roundtables, provide unique perspectives and networking opportunities. With a small team of two dedicated individuals, Groundswell Startups Inc aims to empower and support the entrepreneurial community in Melbourne.
Official website here: www.swellstartups.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
Groundswell Startups Inc has received a two-star rating from Charity Navigator, indicating the organization is in need of improvement. With an overall score of 69%, the nonprofit demonstrates strong accountability in certain areas, particularly with its board composition, which consists entirely of independent members. Notably, it has a high program expense ratio of 91.81%, suggesting that a significant portion of its funds is directed towards its programs and services.
On the downside, Groundswell Startups Inc has several shortcomings in its accountability and transparency practices. The organization has not provided financial statements, which has significantly impacted its score in this area. Additionally, critical policies such as conflict of interest, whistleblower, and document retention policies are missing, which raises concerns about governance and operational integrity.
Despite these limitations, the organization appears to effectively manage its assets, as reflected by a low liabilities to assets ratio of 0.03%. This suggests that the organization is financially stable, but it will need to address its governance issues to improve its overall rating and enhance trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Groundswell Startups Inc legitimate?
Groundswell Startups Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Groundswell Startups 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $112,473
For more financial information, click here
Official website here: www.swellstartups.com
What is the mission statement of Groundswell Startups Inc?
Groundswell Startups Inc's mission is to connect early-stage companies with industry experts, offering them guidance in various aspects such as business strategy, manufacturing, and capital raising. The organization's resources aim to aid in ideation, startup, and growth phases of these companies. By joining the Groundswell network, individuals gain access to tailored resources and workshops. Mentorship is a key aspect of Groundswell's offerings, connecting companies with experts across various industries. Additionally, Groundswell provides a riverside coworking space with amenities and hosts events like founder talks, discussions, and roundtables, offering unique perspectives, expert insights, and opportunities for founders to share challenges and receive external feedback.
Official website here: www.swellstartups.com
Who is the CEO of Groundswell Startups Inc?
Jarin Eisenberg is the Coo of Groundswell Startups Inc.
Official website here: www.swellstartups.com
What is the revenue of Groundswell Startups Inc?
Groundswell Startups Inc's revenue in 2022 was $881,413.
Official website here: www.swellstartups.com
Who are the executives of Groundswell Startups Inc and what are their salaries?
The average compensation at Groundswell Startups Inc during 2022 was $56,236. There are 2 employees at Groundswell Startups Inc.
Here are 6 key members and their salaries:
- Compensation: $105,550
- Related: $0
- Other: $0
- Compensation: $28,620
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.swellstartups.com
Where can I find the form 990 for Groundswell Startups Inc?
Groundswell Startups Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.swellstartups.com
Learn more at the official website: www.swellstartups.com
Mission Statement of Groundswell Startups Inc
Groundswell Startups Inc is an organization dedicated to supporting early-stage companies. It accomplishes this by connecting these companies with industry experts who are ready to provide guidance, ranging from business strategy to manufacturing and raising capital. The mission of Groundswell Startups Inc is to provide the resources necessary for entrepreneurs to ideate, start, and grow their businesses.
By becoming a part of Groundswell's network, companies gain access to resources and workshops tailored to their specific needs. From workshops for aspiring entrepreneurs looking to test their abilities to growing companies seeking proven strategies to scale, Groundswell offers valuable assistance. Additionally, Groundswell pairs early-stage companies with mentors who have expertise in various fields, such as business strategy, manufacturing, and raising capital. This mentorship program allows companies to benefit from the insights and experience of industry professionals.
Moreover, Groundswell provides a coworking space that offers amenities like free coffee and beer, fast Wi-Fi, and the opportunity to collaborate with other local entrepreneurs. The coworking space is located in a riverside area with easy access to downtown Melbourne's bars and restaurants. Furthermore, Groundswell hosts events such as founder talks, lightning discussions, and roundtables, providing unique perspectives, expert insights, and opportunities for founders to discuss their challenges and receive outside opinions.
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Impact
July, 2024
Groundswell Startups Inc's impact can be seen in the significant support it provides to early-stage companies. By pairing these companies with industry experts who offer valuable mentorship in areas such as business strategy, manufacturing, and fundraising, Groundswell enables entrepreneurs to ideate, start, and grow their businesses effectively. The organization's tailored programming, access to resources, and workshops cater to the specific needs of aspiring entrepreneurs and established companies seeking strategies for scaling. Additionally, Groundswell's coworking space fosters collaboration among local entrepreneurs, providing a conducive environment for innovation and growth. Through a variety of events and networking opportunities, Groundswell facilitates knowledge sharing, mentorship, and community building, ultimately contributing to the improvement and advancement of the entrepreneurial ecosystem in Melbourne, FL.
This information is meant to be a general summary of Groundswell Startups 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.
- Program Service Revenue: $140,142
- Gross Receipts: $881,413
Assets and Liabilities:
- Total Assets: $643,253
- Total Liabilities: $252
- Net Assets: $643,001
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPONSOR REVENUE
Revenue
$136,202
EVENT REVENUE
Revenue
$3,940
Organization Details
Founding Year
2015
Principal Officer
Jarin Eisenberg
Main Address
2417 IRWIN STREET, MELBOURNE, FL, 32901
Website
www.swellstartups.comNTEE Category
Code: S99 - Community improvement
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