Civic Intelligence

Grid110 Inc.

990 • Fiscal year 2022 • EIN 47-4318779

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

360 E 2nd Street 800Los Angeles, CA 90012

(424) 257-0289

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.83x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

76th percentile

0.21x

Higher debt load relative to revenue than 76% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

21st percentile

-12%

Higher net margin than 21% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

91st percentile

$120,839

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 19.3% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

10th percentile

-22%

Faster asset growth than 10% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

36th percentile

-1.9%

Faster revenue growth than 36% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$155,027

Down $44,260 (-22%) from 2021

Net Assets

Down

$25,863

Down $41,520 (-62%) from 2021

Liabilities

Down

$129,164

Down $2,740 (-2.1%) from 2021

Revenue

Down

$626,792

Down $12,369 (-1.9%) from 2021

Expenses

Up

$703,209

Up $51,116 (+7.8%) from 2021

Net Income

Down

-$76,417

Down $63,485 (-491%) from 2021

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2017: $93,920Liabilities 2017: $93,920Net Assets 2017: $02017Assets 2018: $138,786Liabilities 2018: $138,786Net Assets 2018: $02018Assets 2019: $15,230Liabilities 2019: $36,085Net Assets 2019: -$20,8552019Assets 2020: $83,621Liabilities 2020: $3,306Net Assets 2020: $80,3152020Assets 2021: $199,287Liabilities 2021: $131,904Net Assets 2021: $67,3832021Assets 2022: $155,027Liabilities 2022: $129,164Net Assets 2022: $25,8632022Assets 2023: $195,647Liabilities 2023: $3,033Net Assets 2023: $192,6142023Assets 2024: $451,448Liabilities 2024: $161,075Net Assets 2024: $290,3732024

Highlighted filing

2022

Assets$155,027
Liabilities$129,164
Net Assets$25,863

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2017: $94,005Expenses 2017: $94,005Net Income 2017: $02017Revenue 2018: $289,478Expenses 2018: $289,478Net Income 2018: $02018Revenue 2019: $375,634Expenses 2019: $396,489Net Income 2019: -$20,8552019Revenue 2020: $567,693Expenses 2020: $465,793Net Income 2020: $101,9002020Revenue 2021: $639,161Expenses 2021: $652,093Net Income 2021: -$12,9322021Revenue 2022: $626,792Expenses 2022: $703,209Net Income 2022: -$76,4172022Revenue 2023: $736,849Expenses 2023: $570,098Net Income 2023: $166,7512023Revenue 2024: $421,584Expenses 2024: $407,859Net Income 2024: $13,7252024

Highlighted filing

2022

Revenue$626,792
Expenses$703,209
Net Income-$76,417
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$626,792
Mission and Program Overview

Mission

Grid110 is an economic and community development organization that connects early-stage entrepreneurs to mentoring and critical resources through free programs. The focus is to activate community and help entrepreneurs realize sustainable growth paths that allow them to scale their businesses (and teams) right here in los angeles. Our mission is to foster the most thriving, inviting & inclusive community for entrepreneurs in los angeles. We believe that anyone with the goal of becoming an entrepreneur should have the chance to pursue it and receive support along the way. Our work impacts individuals who are often overlooked by traditional entrepreneurial ecosystems. That's what drives us to make the entrepreneurial path more equitable, inclusive and accessible.

Creating clearer pathways to success for early stage entrepreneurs in los angeles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$171,678$151,622▼ $20,056
Pledges and Grants Receivable$27,609$0▼ $27,609
Rtn Earn Endowment Incm Other Fnds$67,383$25,863▼ $41,520
Prepaid Expenses and Deferred Charges-$3,405-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$199,287$155,027▼ $44,260
Liabilities
Deferred Revenue$125,000$125,000→ $0
Accounts Payable and Accrued Expenses$6,082$3,700▼ $2,382
Other Liabilities$822$464▼ $358
Total Liabilities$131,904$129,164▼ $2,740
Net Assets / Fund Balance
Total Net Assets Fund Balance$67,383$25,863▼ $41,520
Total Liabilities and Net Assets / Fund Balance$199,287$155,027▼ $44,260
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Miki ReynoldsCEOFT$114,361$6,478$120,839

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$626,792
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$298,799
Change in Net Assets
$-76,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$527,493
Other Expenses$175,716
Total Fundraising Expense$17,017
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$350,512--$350,512
Current Officers, Directors, Trustees, and Key Employees$67,122$33,561$11,187$111,870
Advertising-$40,000-$40,000
Payroll Taxes$32,174$2,490$830$35,494
Other Employee Benefits$14,636$14,981-$29,617
Fees for Services Other$16,251$10,016-$26,267
Fees for Services Accounting$8,020$2,831-$10,851
Other Expenses$6,357$7,655$5,000$5,000
Occupancy$3,282--$3,282
Conferences and Meetings-$2,934-$2,934
Travel$496$1,875-$2,371
Fees for Services Legal$780$1,170-$1,950
Insurance-$1,205-$1,205
Office Expenses-$238-$238
Total Functional Expenses$548,607$137,585$17,017$703,209
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
403b Liability$254
Flexible Spending Account$210
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Part VI, Section A, Line 2

Jared goodner and prashant samant (both board directors) are business partners in a separate company together. This preceedes their affiliation with the organization.

Form 990, Part VI, Section A, Line 8B

The organization does not have a committee to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

Once complete, a copy of the form 990 will be distributed to the board for review by the next board meeting.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is monitored by the organization through an annual disclosure form that is completed and signed by each director. Any conflicts that should arise are reviewed by the remaining board.

Form 990, Part VI, Section B, Line 15A

The board of directors reviewed and approved the compensation of the executive director independently, without the participation of interested persons. Comparable information was used in determining compensation for the executive director. The compensation was also approved by the city of los angeles thorugh the grant budget process.

Form 990, Part VI, Section C, Line 19

The form 990, financial statements and the governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Grid110 Inc
EIN
47-4318779
Phone
4242570289
Address
360 E 2ND STREET 800, LOS ANGELES, CA 90012

Signing Officer

Name
Shrina Kurani
Title
Executive Director
Phone
4242570289
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shrina Kurani
Formed
2015
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
6
Employees
6
Volunteers
50

Preparer

Firm
Green Hasson & Janks Llp
Address
700 SOUTH FLOWER STREET SUITE 3300, LOS ANGELES, CA 90017
Preparer
Lizbeth G Nevarez
Phone
3108731600
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02498005
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0753
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0753
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IRS990ScheduleA/PublicSupportPY170Pct00.90980
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0639161
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0567693
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0374881
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0289478
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02498005
IRS990ScheduleA/TotalSupportAmt02498758
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0210
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1254
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FLEXIBLE SPENDING ACCOUNT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1403B LIABILITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt0464
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JARED GOODNER AND PRASHANT SAMANT (BOTH BOARD DIRECTORS) ARE BUSINESS PARTNERS IN A SEPARATE COMPANY TOGETHER. THIS PRECEEDES THEIR AFFILIATION WITH THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE A COMMITTEE TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ONCE COMPLETE, A COPY OF THE FORM 990 WILL BE DISTRIBUTED TO THE BOARD FOR REVIEW BY THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE ORGANIZATION THROUGH AN ANNUAL DISCLOSURE FORM THAT IS COMPLETED AND SIGNED BY EACH DIRECTOR. ANY CONFLICTS THAT SHOULD ARISE ARE REVIEWED BY THE REMAINING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS REVIEWED AND APPROVED THE COMPENSATION OF THE EXECUTIVE DIRECTOR INDEPENDENTLY, WITHOUT THE PARTICIPATION OF INTERESTED PERSONS. COMPARABLE INFORMATION WAS USED IN DETERMINING COMPENSATION FOR THE EXECUTIVE DIRECTOR. THE COMPENSATION WAS ALSO APPROVED BY THE CITY OF LOS ANGELES THORUGH THE GRANT BUDGET PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990, FINANCIAL STATEMENTS AND THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TaxExemptBondsInd00
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IRS990/TotalProgramServiceExpensesAmt0548607
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IRS990/TravelGrp/TotalAmt02371
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IRS990/USAddress/AddressLine1Txt0360 E 2ND STREET 800
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IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.GRID110.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SHRINA KURANI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04242570289
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRID110 INC
ReturnHeader/Filer/BusinessNameControlTxt0GRID
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ReturnHeader/Filer/PhoneNum04242570289
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ReturnHeader/Filer/USAddress/CityNm0LOS ANGELES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0951777440
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GREEN HASSON & JANKS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0700 SOUTH FLOWER STREET SUITE 3300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOS ANGELES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090017
ReturnHeader/PreparerPersonGrp/PhoneNum03108731600
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LIZBETH G NEVAREZ
ReturnHeader/ReturnTs02023-11-15T17:40:00-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SHRINA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KURANI
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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