Civic Intelligence

Groundswell Startups Inc.

990 • Fiscal year 2022 • EIN 81-1417100

Jan 01, 2022 to Dec 31, 2022 • Filed on Feb 22, 2023

Organization ProfileSWELLSTARTUPS.COM
2417 Irwin StreetMelbourne, FL 32901

(954) 830-3889

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Higher debt load relative to assets than 33% of similar nonprofits.

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

Liabilities / Revenue

32nd percentile

0.00x

Higher debt load relative to revenue than 32% of similar nonprofits.

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

Net Margin

92nd percentile

58%

Higher net margin than 92% of similar nonprofits.

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

Top Officer Pay

89th percentile

$105,550

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 12.0% of source-year revenue.

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

Asset Growth

98th percentile

393%

Faster asset growth than 98% of similar nonprofits.

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

Revenue Growth

94th percentile

184%

Faster revenue growth than 94% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$643,253

Up $512,872 (+393%) from 2021

Net Assets

Up

$643,001

Up $513,653 (+397%) from 2021

Liabilities

Down

$252

Down $781 (-76%) from 2021

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin92nd percentile

Revenue

Up

$881,413

Up $571,551 (+184%) from 2021

Expenses

Up

$367,760

Up $46,297 (+14%) from 2021

Net Income

Up

$513,653

Up $525,254 (+4528%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$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

2022

Assets$643,253
Liabilities$252
Net Assets$643,001
Open 2022 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income across loaded years, with this 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

2022

Revenue$881,413
Expenses$367,760
Net Income$513,653
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Feb 22, 2023
Return Version
2022v5.0
Gross Receipts
$881,413
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
Cash and Non-Interest-Bearing Accounts$113,151$514,753▲ $401,602
Land, Buildings, and Equipment, Net$3,696$113,922▲ $110,226
Accounts Receivable$12,870$7,580▼ $5,290
Prepaid Expenses and Deferred Charges-$6,998-
Total Assets$130,381$643,253▲ $512,872
Other Assets Total$664--
Liabilities
Accounts Payable and Accrued Expenses$1,033$252▼ $781
Total Liabilities$1,033$252▼ $781
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$129,348$643,001▲ $513,653
Total Net Assets Fund Balance$129,348$643,001▲ $513,653
Total Liabilities and Net Assets / Fund Balance$130,381$643,253▲ $512,872

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$83,328$8,406$91,734
Other Land Buildings$30,594$11,961$42,555
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jarin EisenbergCOOFT$105,550$105,550
Shey AndersonSecretary-$28,620$28,620

Board Members and Trustees

NameTitle
Bud DeffenbachDirector
John VecchioDirector
Mamoon RashidDirector
Mark MohlerDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$741,271
Program Service Revenue
$140,142
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$513,653
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$221,667
Salaries, Compensation, and Employee Benefits$121,093
Grants and Similar Amounts Paid$25,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$101,226$11,247-$112,473
Occupancy$40,837$4,537-$45,374
Office Expenses$37,813$4,202-$42,015
Fees for Services Other$23,617$2,624-$26,241
Grants to Domestic Orgs$25,000--$25,000
Information Technology$19,997$2,080-$22,077
Other Expenses$20,207--$20,207
Advertising$15,858$1,762-$17,620
Payroll Taxes$7,758$862-$8,620
Insurance$4,814$535-$5,349
Travel$3,981--$3,981
Fees for Services Accounting$3,363$374-$3,737
Depreciation Depletion$3,496--$3,496
Total Functional Expenses$339,537$28,223$0$367,760
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Make It Happen LLCMelbourne, FL-Connect Startups With Investors$25,000
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
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
Address
2417 IRWIN STREET, MELBOURNE, FL 32901

Signing Officer

Name
Jarin Eisenberg
Title
COO
Phone
9548303889
Signed
2023-02-22
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Bouvier Associates
Address
3210 N WICKHAM ROAD SUITE 5, Melbourne, FL 32935
Preparer
Paul a Bouvier CPA
Phone
3217529967
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0149881
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0147332
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IRS990ScheduleD/EquipmentGrp/BookValueAmt083328
IRS990ScheduleD/EquipmentGrp/DepreciationAmt08406
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt091734
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt030594
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011961
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt042555
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0113922
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IRS990ScheduleI/RecipientTable/CashGrantAmt025000
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0NA
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CONNECT STARTUPS WITH INVESTORS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MAKE IT HAPPEN LLC
IRS990ScheduleI/RecipientTable/RecipientEIN0832120391
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01056 EGRET LAKE WAY
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MELBOURNE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0FL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd032940
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0CASH
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE PURPOSE OF THE SPACE COAST PITCH COMPETITION IS TO SHOWCASE STARTUPS HERE ON THE SPACE COAST AND CONNECT THEM WITH INVESTORS AND CAPITAL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Monitoring procedures (Part I, line 2)
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0643253
IRS990/TotalAssetsGrp/BOYAmt0130381
IRS990/TotalAssetsGrp/EOYAmt0643253
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IRS990/TotalContributionsAmt0741271
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt028223
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0339537
IRS990/TotalFunctionalExpensesGrp/TotalAmt0367760
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01033
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IRS990/TotalLiabilitiesGrp/BOYAmt01033
IRS990/TotalLiabilitiesGrp/EOYAmt0252
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0129348
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IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt0190
IRS990/TotalProgramServiceExpensesAmt0339537
IRS990/TotalProgramServiceRevenueAmt0140142
IRS990/TotalReportableCompFromOrgAmt0134170
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0140142
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0881413
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0130381
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0643253
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HTTPS://SWELLSTARTUPS.COM
IRS990/WhistleblowerPolicyInd0false
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JARIN EISENBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COO
ReturnHeader/BusinessOfficerGrp/PhoneNum09548303889
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-02-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GROUNDSWELL STARTUPS INC
ReturnHeader/Filer/BusinessNameControlTxt0GROU
ReturnHeader/Filer/EIN0811417100
ReturnHeader/Filer/USAddress/AddressLine1Txt02417 IRWIN STREET
ReturnHeader/Filer/USAddress/CityNm0MELBOURNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032901
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593412962
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BOUVIER ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03210 N WICKHAM ROAD SUITE 5
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Melbourne
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032935
ReturnHeader/PreparerPersonGrp/PhoneNum03217529967
ReturnHeader/PreparerPersonGrp/PreparationDt02023-04-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL A BOUVIER CPA
ReturnHeader/ReturnTs02023-04-05T10:44:14-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JARIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0EISENBERG
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$643,253
Liabilities
$252
Net assets
$643,001
Revenue
$881,413
Expenses
$367,760
Net income
$513,653
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
2022Detailed filing. Detailed filing data is available for this year.$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