Overview
What is Groover Labs Inc?
Groover Labs Inc, a nonprofit organization situated in Wichita, Kansas, at 334 N St Francis Ave, is committed to fostering growth in local start-up activities. Their primary mission is to provide a collaborative working environment where entrepreneurs and tech workers can seek support and exchange ideas. The organization operates from a 42,000-square-foot facility, equipped with various flexible work and meeting spaces, including large and small offices, dedicated desks, conference rooms, an event venue, and two classrooms. These spaces can be rented by the hour or month, ensuring accessibility for individuals and businesses. With a focus on fostering innovation and collaboration, Groover Labs Inc serves as a hub for local start-up activity, contributing to the growth and development of the tech community in Wichita.
Official website here: www.grooverlabs.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating indicates that while Groover Labs Inc shows some strengths in its operations, there are significant areas for improvement concerning its accountability and transparency.
The organization excels in maintaining an independent board, with 100% of its members being independent and a solid program expense ratio of 87.90%. This suggests a strong commitment to utilizing its resources effectively for its mission. Additionally, Groover Labs Inc does not have any material diversion of assets, which highlights financial integrity.
However, the organization has notable shortcomings, such as missing policies for whistleblower protections and document retention, along with not posting its tax form on its website. These gaps in governance and transparency contribute to its lower rating and indicate potential risks in accountability practices that could affect stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
Is Groover Labs Inc legitimate?
Groover Labs Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Groover Labs 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: $125,649
For more financial information, click here
Official website here: www.grooverlabs.org
What is the mission statement of Groover Labs Inc?
Groover Labs Inc, being a non-profit organization, aims to stimulate growth in local startup activity. They accomplish this by offering a centralized location where entrepreneurs and tech professionals can obtain support and exchange ideas in a collaborative working environment. The organization provides a range of flexible workspaces, including offices, open desk seating, conference rooms, a large event venue, and classrooms, all equipped with high-speed gigabit internet access. These resources enable entrepreneurs to network, brainstorm, and develop their ventures in a supportive setting.
Official website here: www.grooverlabs.org
Who is the CEO of Groover Labs Inc?
Curtis Gridley is the Director of Groover Labs Inc.
Official website here: www.grooverlabs.org
What is the revenue of Groover Labs Inc?
Groover Labs Inc's revenue in 2022 was $496,050.
Official website here: www.grooverlabs.org
Who are the executives of Groover Labs Inc and what are their salaries?
The average compensation at Groover Labs Inc during 2022 was $20,942. There are 6 employees at Groover Labs Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.grooverlabs.org
Where can I find the form 990 for Groover Labs Inc?
Groover Labs Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.grooverlabs.org
Learn more at the official website: www.grooverlabs.org
Mission Statement of Groover Labs Inc
Groover Labs Inc, a non-profit organization, is committed to fostering growth in local start-up activity. They achieve this by offering a collaborative working environment where entrepreneurs and tech workers can seek support and share ideas. This mission is realized through the provision of a single location equipped with flexible work and meeting spaces, including large and small offices, dedicated and open desk seating, conference rooms, a large event venue, and two classrooms. These spaces are equipped with high-speed gigabit internet access, providing an ideal environment for innovation and collaboration. Groover Labs Inc serves as a hub where start-ups can thrive, offering a supportive network for entrepreneurs to grow and succeed in their ventures.
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Impact
July, 2024
Groover Labs Inc's impact is significant in fostering growth in local start-up activity. By providing a collaborative working environment where entrepreneurs and tech workers can receive support and share ideas, Groover Labs Inc plays a crucial role in creating a supportive ecosystem for innovation and entrepreneurship. Through its co-working spaces and various meeting areas, Groover Labs Inc contributes to enhancing the local entrepreneurial scene and driving community improvement in Wichita, Kansas.
This information is meant to be a general summary of Groover Labs 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: $403,902
- Gross Receipts: $496,050
Assets and Liabilities:
- Total Assets: $132,464
- Total Liabilities: $8,254
- Net Assets: $124,210
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COWORKING SPACES
Revenue
$185,113
MAKERSPACE PROGRAMS
Revenue
$143,123
SHARED PROGRAMS
Revenue
$75,666
Organization Details
Founding Year
2019
Phone
(316) 247-1525Principal Officer
Curtis Gridley
Main Address
334 N ST FRANCIS AVE, WICHITA, KS, 67202
Website
www.grooverlabs.orgNTEE Category
Code: S30 - Community improvement
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