Civic Intelligence

Groundswell Startups Inc

EIN 81-1417100 • 501(c)3 • Melbourne, FL

Profile

Groundswell pairs early-stage companies with experts who know the industry and are ready to help. With mentors ranging from business strategy to manufacturing to raising capital, groundswell has the resources for you to ideate, start and grow.

2412 Irwin StreetMelbourne, FL 32901

swellstartups.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

37th percentile

0.00x

Higher debt load relative to assets than 37% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

37th percentile

0.00x

Higher debt load relative to revenue than 37% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Net Margin

33rd percentile

-3.1%

Higher net margin than 33% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Asset Growth

31st percentile

-4.0%

Faster asset growth than 31% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

75th percentile

31%

Faster revenue growth than 75% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$488,766

Down $91,636 (-16%) from 2023

Liabilities

Down

$379

Down $9,364 (-96%) from 2023

Net Assets

Down

$488,387

Down $82,272 (-14%) from 2023

Operations
Liabilities / Revenue37th percentileNet Margin33rd percentile

Revenue

Up

$481,864

Up $23,226 (+5.1%) from 2023

Expenses

Up

$559,976

Up $28,996 (+5.5%) from 2023

Net Income

Down

-$78,112

Down $5,770 (-8.0%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth31st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2017: $58,210Liabilities 2017: $0Net Assets 2017: $58,2102017Assets 2018: $64,355Net Assets 2018: $64,3552018Assets 2019: $136,604Liabilities 2019: $1,661Net Assets 2019: $134,9432019Assets 2020: $154,267Liabilities 2020: $13,318Net Assets 2020: $140,9492020Assets 2021: $130,381Liabilities 2021: $1,033Net Assets 2021: $129,3482021Assets 2022: $643,253Liabilities 2022: $252Net Assets 2022: $643,0012022Assets 2023: $580,402Liabilities 2023: $9,743Net Assets 2023: $570,6592023Assets 2024: $488,766Liabilities 2024: $379Net Assets 2024: $488,3872024

Highlighted filing

2024

Assets$488,766
Liabilities$379
Net Assets$488,387
Open 2024 Filing

Operations Trend

Revenue Growth75th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2017: $201,032Expenses 2017: $149,396Net Income 2017: $51,6362017Revenue 2018: $198,569Expenses 2018: $192,424Net Income 2018: $6,1452018Revenue 2019: $238,795Expenses 2019: $173,473Net Income 2019: $65,3222019Revenue 2020: $258,691Expenses 2020: $252,685Net Income 2020: $6,0062020Revenue 2021: $309,862Expenses 2021: $321,463Net Income 2021: -$11,6012021Revenue 2022: $881,413Expenses 2022: $367,760Net Income 2022: $513,6532022Revenue 2023: $458,638Expenses 2023: $530,980Net Income 2023: -$72,3422023Revenue 2024: $481,864Expenses 2024: $559,976Net Income 2024: -$78,1122024

Highlighted filing

2024

Revenue$481,864
Expenses$559,976
Net Income-$78,112
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$488,766
Liabilities
$379
Net assets
$488,387
Revenue
$481,864
Expenses
$559,976
Net income
-$78,112
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.89$0.00$4.88$4.82$5.60$0.78
2023Summary only. Only limited summary data is available for this year.$5.80$0.10$5.71$4.59$5.31$0.72
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.43$0.00$6.43$8.81$3.68$5.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.01$1.29$3.10$3.21$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$0.13$1.41$2.59$2.53$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.37$0.02$1.35$2.39$1.73$0.65
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.64$1.99$1.92$0.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.00$0.58$2.01$1.49$0.52
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 11, 2025
Return Version
2024v5.1
Gross Receipts
$481,864
Mission and Program Overview

Mission

Groundswell pairs early-stage companies with experts who know the industry and are ready to help. With mentors ranging from business strategy to manufacturing to raising capital, groundswell has the resources for you to ideate, start and grow.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$380,382$355,383▼ $24,999
Cash and Non-Interest-Bearing Accounts$194,397$118,984▼ $75,413
Accounts Receivable-$9,329-
Prepaid Expenses and Deferred Charges$5,623$5,070▼ $553
Total Assets$580,402$488,766▼ $91,636
Liabilities
Accounts Payable and Accrued Expenses$1,136--
Other Liabilities$8,607$379▼ $8,228
Total Liabilities$9,743$379▼ $9,364
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$570,659$488,387▼ $82,272
Total Net Assets Fund Balance$570,659$488,387▼ $82,272
Total Liabilities and Net Assets / Fund Balance$580,402$488,766▼ $91,636

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$232,381$8,970$241,351
Equipment$96,054$60,512$156,566
Other Land Buildings$26,948$18,866$45,814
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Bud DeffenbachDirector
John VecchioDirector
Mamoon RashidDirector
Mark MohlerDirector
Ruchir GuptaDirector
Ryan BaileyDirector
Sallie HalseyCSO
Revenue and Support

Revenue Composition

Contributions and Grants
$306,967
Program Service Revenue
$85,416
Investment Income
$0
Other Revenue
$89,481
Change in Net Assets
$-78,112
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$395,240
Salaries, Compensation, and Employee Benefits$164,736
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$139,782$15,531-$155,313
Occupancy$57,144$6,349-$63,493
Other Expenses$57,899--$57,899
Office Expenses$51,789$5,755-$57,544
Fees for Services Other$48,339$5,371-$53,710
Depreciation Depletion$40,471--$40,471
Insurance$24,622$2,736-$27,358
Information Technology$20,802$2,311-$23,113
Fees for Services Accounting$15,387$1,710-$17,097
Payroll Taxes$6,599$733-$7,332
Travel$5,772$641-$6,413
Advertising$2,779$309-$3,088
Other Employee Benefits$1,882$209-$2,091
Total Functional Expenses$518,321$41,655$0$559,976
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
Sales Tax Payable$379
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“No review was or will be conducted.”

Governing documents etc available to public Part VI line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Groundswell Startups Inc
EIN
81-1417100
In Care Of
% SALLIE HALSEY
Phone
9548303889
Address
2412 IRWIN STREET, MELBOURNE, FL 32901

Signing Officer

Name
Sallie Halsey
Title
CSO
Phone
9548303889
Signed
2025-06-11
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
3

Preparer

Firm
Bloom Cpas and Advisors LLC
Address
3210 N WICKHAM RD STE 5, Melbourne, FL 32935
Preparer
Erik Bloom CPA
Phone
3217529967
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Due to gain/loss on sale of assets, there is a loss in the amount of $4,160”

List of other fees for services expenses Part IX line 11G

“Hosting fees $111equipment rental $702repairs & maintenance - building $42,013repairs & maintenace - equipment $20,654event attendance fees $1,806”

Raw XML Appendix377 raw XML fields

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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IRS990/Desc0PROGRAMMING: JOINING THE GROUNDSWELL NETWORK MEANS GAINING ACCESS TO RESOURCES AND WORKSHOPS SPECIFICALLY TAILORED TO YOUR NEEDS. FROM WORKSHOPS FOR ASPIRING ENTREPRENEURS LOOKING TO TEST THEIR APTITUDE TO GROWING COMPANIES FINDING PROVEN STRATEGIES TO SCALE, GROUNDSWELL IS HERE TO HELP. MENTORSHIP: GROUNDSWELL PAIRS EARLY-STAGE COMPANIES WITH EXPERTS WHO KNOW THE INDUSTRY AND ARE READY TO HELP. WITH MENTORS RANGING FROM BUSINESS STRATEGY TO MANUFACTURING TO RAISING CAPITAL, GROUNDSWELL HAS THE RESOURCES FOR YOU TO IDEATE, START AND GROW. COWORKING: WHY WORK IN A COFFEE SHOP WHEN YOU CAN ACCESS FREE COFFEE AND BEER, SURF THE FASTEST WIFI IN TOWN AND COLLABORATE WITH OTHER LOCAL ENTREPRENEURS, ALL FROM A RIVERSIDE SPACE WITHIN WALKING DISTANCE OF DOWNTOWN MELBOURNES MANY BARS AND RESTAURANTS. EVENTS: SOMETHINGS ALWAYS GOING ON AT GROUNDSWELL. FEATURED FOUNDER TALKS, LIGHTNING DISCUSSIONS AND MORE IN-DEPTH ROUNDTABLES OFFER UNIQUE PERSPECTIVES, KEY EXPERT INSIGHTS AND OPPORTUNITIES FOR FOUNDERS TO SHARE THEIR CHALLENGES AND RECEIVE AN OUTSIDE OPINION. EVENTS: SOMETHINGS ALWAYS GOING ON AT GROUNDSWELL. FEATURED FOUNDER TALKS, LIGHTNING DISCUSSIONS AND MORE IN-DEPTH ROUNDTABLES OFFER UNIQUE PERSPECTIVES, KEY EXPERT INSIGHTS AND OPPORTUNITIES FOR FOUNDERS TO SHARE THEIR CHALLENGES AND RECEIVE AN OUTSIDE OPINION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DUE TO GAIN/LOSS ON SALE OF ASSETS, THERE IS A LOSS IN THE AMOUNT OF $4,160
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3HOSTING FEES $111EQUIPMENT RENTAL $702REPAIRS & MAINTENANCE - BUILDING $42,013REPAIRS & MAINTENACE - EQUIPMENT $20,654EVENT ATTENDANCE FEES $1,806
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
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IRS990/WebsiteAddressTxt0HTTPS://SWELLSTARTUPS.COM
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SALLIE HALSEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CSO
ReturnHeader/BusinessOfficerGrp/PhoneNum09548303889
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GROUNDSWELL STARTUPS INC
ReturnHeader/Filer/BusinessNameControlTxt0GROU
ReturnHeader/Filer/EIN0811417100
ReturnHeader/Filer/InCareOfNm0% SALLIE HALSEY
ReturnHeader/Filer/PhoneNum09548303889
ReturnHeader/Filer/USAddress/AddressLine1Txt02412 IRWIN STREET
ReturnHeader/Filer/USAddress/CityNm0MELBOURNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032901
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0920999870
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BLOOM CPAS AND ADVISORS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03210 N WICKHAM RD STE 5
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Melbourne
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032935
ReturnHeader/PreparerPersonGrp/PhoneNum03217529967
ReturnHeader/PreparerPersonGrp/PreparationDt02025-07-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ERIK BLOOM CPA
ReturnHeader/ReturnTs02025-07-17T16:59:03-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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