Civic Intelligence

Growth Opportunity Partners Inc.

990 • Fiscal year 2020 • EIN 47-4257622

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 20, 2021

6001 Euclid Ave Ste 120Cleveland, OH 44103

(216) 462-0640

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.62x

Higher debt load relative to assets than 81% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

85th percentile

1.49x

Higher debt load relative to revenue than 85% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

91st percentile

52%

Higher net margin than 91% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

91st percentile

$347,437

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 11.6% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

91st percentile

60%

Faster asset growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

248%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$7,134,232

Up $2,676,654 (+60%) from 2019

Net Assets

Up

$2,677,722

Up $1,542,403 (+136%) from 2019

Liabilities

Up

$4,456,510

Up $1,134,251 (+34%) from 2019

Revenue

Up

$2,994,003

Up $2,134,693 (+248%) from 2019

Expenses

Up

$1,451,600

Up $301,729 (+26%) from 2019

Net Income

Up

$1,542,403

Up $1,832,964 (+631%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0-$5.0MAssets 2015: $578,843Liabilities 2015: $870,073Net Assets 2015: -$291,2302015Assets 2016: $4,757,585Liabilities 2016: $4,361,800Net Assets 2016: $395,7852016Assets 2017: $5,172,415Liabilities 2017: $3,678,366Net Assets 2017: $1,494,0492017Assets 2018: $4,902,685Liabilities 2018: $3,476,805Net Assets 2018: $1,425,8802018Assets 2019: $4,457,578Liabilities 2019: $3,322,259Net Assets 2019: $1,135,3192019Assets 2020: $7,134,232Liabilities 2020: $4,456,510Net Assets 2020: $2,677,7222020Assets 2021: $6,981,193Liabilities 2021: $4,236,388Net Assets 2021: $2,744,8052021Assets 2022: $7,846,815Liabilities 2022: $4,651,562Net Assets 2022: $3,195,2532022Assets 2023: $5,876,344Liabilities 2023: $4,525,235Net Assets 2023: $1,351,1092023Assets 2024: $2,889,497Liabilities 2024: $3,094,811Net Assets 2024: -$205,3142024

Highlighted filing

2020

Assets$7,134,232
Liabilities$4,456,510
Net Assets$2,677,722

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MRevenue 2015: $363,131Expenses 2015: $654,361Net Income 2015: -$291,2302015Revenue 2016: $1,340,687Expenses 2016: $653,670Net Income 2016: $687,0172016Revenue 2017: $1,953,238Expenses 2017: $854,974Net Income 2017: $1,098,2642017Revenue 2018: $834,335Expenses 2018: $902,504Net Income 2018: -$68,1692018Revenue 2019: $859,310Expenses 2019: $1,149,871Net Income 2019: -$290,5612019Revenue 2020: $2,994,003Expenses 2020: $1,451,600Net Income 2020: $1,542,4032020Revenue 2021: $2,067,621Expenses 2021: $2,088,138Net Income 2021: -$20,5172021Revenue 2022: $2,590,724Expenses 2022: $2,140,278Net Income 2022: $450,4462022Revenue 2023: $993,590Expenses 2023: $2,880,039Net Income 2023: -$1,886,4492023Revenue 2024: $1,164,841Expenses 2024: $2,721,264Net Income 2024: -$1,556,4232024

Highlighted filing

2020

Revenue$2,994,003
Expenses$1,451,600
Net Income$1,542,403
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 20, 2021
Return Version
2020v4.0
Gross Receipts
$2,994,003
Mission and Program Overview

Mission

Growth opportunity partners, inc.'s purpose is to provide advisory services, financial solutions, and advocacy, to cultivate more resilient persons and communities previously under-resourced and under-valued, ultimately to improve quality of life, outputs, and outcomes with a particular focus on minority and women-owned businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$936,799$3,835,494▲ $2,898,695
Other Notes and Loans Receivable, Net$2,511,098$1,423,376▼ $1,087,722
Pledges and Grants Receivable$500,000$1,230,000▲ $730,000
Savings and Temporary Cash Investments$239,516$278,189▲ $38,673
Accounts Receivable$114,511$234,311▲ $119,800
Land, Buildings, and Equipment, Net$105,276$88,415▼ $16,861
Prepaid Expenses and Deferred Charges$41,714$35,783▼ $5,931
Total Assets$4,457,578$7,134,232▲ $2,676,654
Other Assets Total$8,664$8,664→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,074,097$4,151,510▲ $1,077,413
Accounts Payable and Accrued Expenses$248,162$297,737▲ $49,575
Deferred Revenue-$7,263-
Total Liabilities$3,322,259$4,456,510▲ $1,134,251
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$1,458,405-
Net Assets Without Donor Restrictions$1,135,319$1,219,317▲ $83,998
Total Net Assets Fund Balance$1,135,319$2,677,722▲ $1,542,403
Total Liabilities and Net Assets / Fund Balance$4,457,578$7,134,232▲ $2,676,654

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$67,606$25,335$92,941
Equipment$20,809$17,026$37,835
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael T JeansPresident /FT$312,500$34,937$347,437
Michael T JeansPresident / CEO-$312,500$34,937$347,437
Jeffrey ClawsonChief CreditFT$155,974$4,679$160,653
Jeffrey ClawsonChief Credit Officer-$155,974$4,679$160,653
Marcus GlantonChief Oper.FT$155,742$595$156,337
Marcus GlantonChief Oper. Officer-$155,742$595$156,337

Board Members and Trustees

NameTitle
Ndeda LetsonChair of the
Donet GravesDirector
Sheila WrightDirector
Richard JankuraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,757,984
Program Service Revenue
$235,356
Investment Income
$663
Other Revenue
$0
All Other Contributions
$2,757,984
Change in Net Assets
$1,542,403

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,994,003
Total Revenue per Audited Statements
$2,994,003
Total Revenue per Form 990
$2,994,003
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$743,254
Salaries, Compensation, and Employee Benefits$708,346
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$498,321$166,106-$664,427
Occupancy$89,647$77,746-$167,393
Fees for Services Other$99,319$18,917-$118,236
Other Expenses$100,000--$100,000
Interest$64,185--$64,185
Advertising$41,523--$41,523
Payroll Taxes$26,447$8,816-$35,263
Fees for Services Accounting$7,722$27,380-$35,102
Office Expenses$32,714$625-$33,339
Depreciation Depletion-$16,861-$16,861
Information Technology$15,587--$15,587
Other Salaries and Wages$6,492$2,164-$8,656
Travel-$4,631-$4,631
Insurance-$4,451-$4,451
Fees for Services Legal$909$2,726-$3,635
Total Functional Expenses$1,121,177$330,423$0$1,451,600

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,451,600
Total Expenses per Audited Statements$1,451,600
Total Expenses per Form 990$1,451,600
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Copies of the completed froms are provided to the members of the board and a meeting is held prior to the filing of the return.

Form 990, Page 6, Part VI, Line 12C

Staff and board of directors follow its conflict of interest procedure throughout the year after an initial review. Conflict of interest disclosure forms are signed by staff and board. They are reviewed for any potential conflicts and fully disclosed.

Form 990, Page 6, Part VI, Line 15A

The compensation committee is responsible for approving the entire organization's compensation each year. The committee verifies comparable compensation for similarly qualified persons.

Form 990, Page 6, Part VI, Line 19

Documents available upon request

Filing and Contact Details

Filer

Filer Name
Growth Opportunity Partners Inc
EIN
47-4257622
Address
6001 EUCLID AVE STE 120, CLEVELAND, OH 44103

Signing Officer

Name
Michael T Jeans
Title
President / CEO
Phone
2164620640
Signed
2021-07-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael T Jeans
Formed
2015
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
4
Employees
3

Preparer

Firm
Mcmanus Dosen & Co
Address
7251 ENGLE RD STE 406, MIDDLEBURG HEIGHTS, OH 44130-3400
Preparer
Michael D Mcmanus CPA
Phone
4402433400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Growth opportunity partners, inc.'s purpose is to provide advisory services, financial solutions, and advocacy, to cultivate more resilient persons and communities previously under-resourced and under-valued, ultimately to improve quality of life, outputs, and outcomes with a particular focus on minority and women-owned businesses.

Financial Statement Notes

Schedule D, Page 3, Part X

12.tax matters the internal revenue service issued a determination letter on january 25, 2016, exempting the company from federal income taxes under section 501(c) (3) of the internal revenue code and further classifying the company as an organization that is publicly supported as defined in the section 509 (a) (2) of the internal revenue code. The determination was effective as of january 14, 2015, the date of incorporation. This determination letter was issued based on information supplied by the company under the assumption that the operations of the company will be as stated in its application for exemption. Accounting principles generally accepted in the united state of america require organization management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Management has determined that the organization does not have any uncertain tax positions and the associated unrecognized benefits that materially impact the financial statements or related disclosures. The company is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The company believes it is no longer subject to income tax examinations for years prior to 2017, the year of incorporation.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt012.TAX MATTERS THE INTERNAL REVENUE SERVICE ISSUED A DETERMINATION LETTER ON JANUARY 25, 2016, EXEMPTING THE COMPANY FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE AND FURTHER CLASSIFYING THE COMPANY AS AN ORGANIZATION THAT IS PUBLICLY SUPPORTED AS DEFINED IN THE SECTION 509 (A) (2) OF THE INTERNAL REVENUE CODE. THE DETERMINATION WAS EFFECTIVE AS OF JANUARY 14, 2015, THE DATE OF INCORPORATION. THIS DETERMINATION LETTER WAS ISSUED BASED ON INFORMATION SUPPLIED BY THE COMPANY UNDER THE ASSUMPTION THAT THE OPERATIONS OF THE COMPANY WILL BE AS STATED IN ITS APPLICATION FOR EXEMPTION. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATE OF AMERICA REQUIRE ORGANIZATION MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND THE ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES. THE COMPANY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE COMPANY BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2017, THE YEAR OF INCORPORATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MICHAEL T JEANS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JEFFREY CLAWSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2MARCUS GLANTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT / CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CHIEF CREDIT OFFICER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GROWTH OPPORTUNITY PARTNERS, INC.'S PURPOSE IS TO PROVIDE ADVISORY SERVICES, FINANCIAL SOLUTIONS, AND ADVOCACY, TO CULTIVATE MORE RESILIENT PERSONS AND COMMUNITIES PREVIOUSLY UNDER-RESOURCED AND UNDER-VALUED, ULTIMATELY TO IMPROVE QUALITY OF LIFE, OUTPUTS, AND OUTCOMES WITH A PARTICULAR FOCUS ON MINORITY AND WOMEN-OWNED BUSINESSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPIES OF THE COMPLETED FROMS ARE PROVIDED TO THE MEMBERS OF THE BOARD AND A MEETING IS HELD PRIOR TO THE FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2STAFF AND BOARD OF DIRECTORS FOLLOW ITS CONFLICT OF INTEREST PROCEDURE THROUGHOUT THE YEAR AFTER AN INITIAL REVIEW. CONFLICT OF INTEREST DISCLOSURE FORMS ARE SIGNED BY STAFF AND BOARD. THEY ARE REVIEWED FOR ANY POTENTIAL CONFLICTS AND FULLY DISCLOSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPENSATION COMMITTEE IS RESPONSIBLE FOR APPROVING THE ENTIRE ORGANIZATION'S COMPENSATION EACH YEAR. THE COMMITTEE VERIFIES COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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