Growing Oaks Association
- Assets
- $91.4k
- Revenue
- $458.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Goldsby, OK
- Founding
- 07/2019
- Data as of
- 12/2023
- EIN
- 83-4486573
Organization Overview
Growing Oaks Association is located in Goldsby, OK. The organization was established in 2019. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Growing Oaks Association 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 12/2023, Growing Oaks Association generated $458.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 35.6% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE A DIGNIFIED AND CERTAIN TRANSITION FROM ECONOMIC BONDAGE TO FISCALLY SECURE FAMILY LIFE AND PRODUCTIVE COMMUNITY CITIZENSHIP BY PROVIDING EDUCATIONAL AND SUPPORTIVE SERVICES TO FAMILIES AND INDIVIDUALS IN HOUSEHOLD FINANCE MANAGEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE RECEIVED AND MANAGED $315,000 OF FUNDING TO THE NEWLY CHARTERED GROWING OAKS FEDERAL CREDIT UNION, A 501C(1) ORGANIZATION. THIS NOT-FOR-PROFIT ORGANIZATION ENGAGES WITH OUR CLIENTS AND OUR COMMUNITY AT LARGE TO HELP MEET THE BANKING SERVICES NEEDS OF THE UNSERVED AND THE UNDERSERVED AND THOSE OF MODEST MEANS AND FURTHERS OUR EXEMPT PURPOSES IN THAT IT PROVIDES PRACTICAL APPLICATION OF THE EDUCATION WE PROVIDE. WE COLLABORATE WITH THE CREDIT UNION BY OFFERING OUR EDUCATIONAL SERVICES TO ITS MEMBERS TO IMPROVE THEIR FINANCIAL LITERACY.
CONDUCTED ELEVEN IN-PERSON 12-WEEK CLASSES (ENGLISH AND SPANISH), TEN IN-PERSON 9-WEEK CLASSES, LAUNCHED ONLINE COURSE COMPLETED BY 47 INDIVIDUALS (ENGLISH AND SPANISH) FOR A TOTAL OF 358 INDIVIDUALS ATTENDING WITH A COMPLETION RATE OF 81%. COMPLETED 76 ONE-ON-ONE COUNSELING SESSIONS. CURRICULUM INCLUDED GOAL SETTING, SAVING, BANKING, DECISION MAKING, BUDGETING, REDUCING DEBT, RESOLVING CREDIT ISSUES, HOME BUYING, INSURANCE AND PLANNING FOR RETIREMENT.
UTILIZING TWO DONATED VEHICLES, PROVIDED INTERIM TRANSPORTATION FROM HOME TO WORK, CHURCH AND APPOINTMENTS FOR SEVEN INDIVIDUALS EITHER REENTERING COMMUNITY FOLLOWING A PERIOD OF INCARCERATION OR RECOVERY AND MOVING FROM TRANSITIONAL HOUSING TO INDEPENDENT LIVING. ACCEPTED THE DONATION OF TWO ADDITIONAL VEHICLES TO BE MADE AVAILABLE FOR NEEDY INDIVIDUALS TO PURCHASE FOR SIGNIFICANTLY BELOW FAIR MARKET VALUE IN FURTHERANCE OF OUR CHARITABLE PURPOSES. ONE OF THE TWO VEHICLES WAS TRANSFERRED IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Reynolds Secretarytreasurer | OfficerTrustee | 40 | $64,269 |
Ingrid Lewis Trustee | Trustee | 1 | $0 |
Donnie Beller Trustee | Trustee | 1 | $0 |
Ronnie Beller Trustee | Trustee | 1 | $0 |
Pamela N Greening Trustee | Trustee | 5 | $0 |
Fred Greening Chairman | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $463,607 |
| Noncash contributions included in lines 1a–1f | $11,775 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $463,607 |
| Total Program Service Revenue | $1,267 |
| Investment income | $390 |
| 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 | -$7,150 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $458,114 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $321,658 |
| Grants and other assistance to domestic individuals. | $250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $64,269 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,455 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,659 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,520 |
| Advertising and promotion | $5,792 |
| Office expenses | $6,046 |
| Information technology | $7,946 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,101 |
| All other expenses | $935 |
| Total functional expenses | $443,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,754 |
| Savings and temporary cash investments | $80,043 |
| 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 | $4,625 |
| Prepaid expenses and deferred charges | $0 |
| 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 | $91,422 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $51,931 |
| Net assets with donor restrictions | $39,491 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $91,422 |