Grid110 Inc
- Assets
- $155.0k
- Revenue
- $626.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Los Angeles, CA
- Founding
- 06/2016
- Data as of
- 12/2022
- EIN
- 47-4318779
Organization Overview
Grid110 Inc is located in Los Angeles, CA. The organization was established in 2016. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 12/2022, Grid110 Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grid110 Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Grid110 Inc generated $626.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 37.2% each year . All expenses for the organization totaled $703.2k during the year ending 12/2022. While expenses have increased by 39.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREATING CLEARER PATHWAYS TO SUCCESS FOR EARLY STAGE ENTREPRENEURS IN LOS ANGELES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENCY PROGRAM: FACILITATED 1 BUSINESS ACCELERATOR COHORT (15 TOTAL COMPANIES), PROVIDING THEM WITH ACCESS TO FREE MENTORING AND CRITICAL BUSINESS RESOURCES FOR 3 MONTHS. THIS PROGRAM FOCUSED ON HISTORICALLY UNDERREPRESENTED ENTREPRENEURS (BLACK, LATINX, AAPI, WOMEN) ACROSS LOS ANGELES AND INCREASING THEIR BUSINESS ACCUMEN AND ACCESS TO CAPITAL.
PLEDGELA FUND FOR SOUTH LA FOUNDERS PROGRAM: FACILITATED 1 BUSINESS ACCELERATOR COHORT (20 TOTAL COMPANIES), PROVIDING THEM WITH ACCESS TO FREE MENTORING AND CRITICAL BUSINESS RESOURCES FOR 3 MONTHS. THIS PROGRAM SPECIFICALLY FOCUSED ON SUPPORTING BLACK AND LATINX ENTREPRENEURS IN SOUTH/SOUTH CENTRAL LOS ANGELES AND INCREASING THEIR ACCESS TO CAPITAL.
COMMUNITY PROGRAMS: SUPPORTED OVER 100 PREVIOUS PROGRAM PARTICIPANTS (ALUMNI) THROUGH OFFICE HOURS, EVENTS, WORKSHOPS. ALSO SUPPORTED OVER 1500 ENTREPRENEURS THROUGH EXTERNAL COMMUNITY EVENTS THAT WERE OPEN TO THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Sette Secretary | OfficerTrustee | 3 | $0 |
Ashumi Shippee CFO | OfficerTrustee | 1 | $0 |
Stephen Kane Director | Trustee | 1 | $0 |
Jared Goodner Director | Trustee | 1 | $0 |
Prashant Samant Director | Trustee | 1 | $0 |
Jade Turner-Bond Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $327,993 |
| All other contributions, gifts, grants, and similar amounts not included above | $298,799 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $626,792 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $626,792 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $111,870 |
| Compensation of current officers, directors, key employees. | $33,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $350,512 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,617 |
| Payroll taxes | $35,494 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,950 |
| Fees for services: Accounting | $10,851 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,267 |
| Advertising and promotion | $40,000 |
| Office expenses | $238 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,282 |
| Travel | $2,371 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,934 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,205 |
| All other expenses | $0 |
| Total functional expenses | $703,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $151,622 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,405 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $155,027 |
| Accounts payable and accrued expenses | $3,700 |
| Grants payable | $0 |
| Deferred revenue | $125,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $464 |
| Total liabilities | $129,164 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $25,863 |
| Total liabilities and net assets/fund balances | $155,027 |