GROOVER LABS INC (EIN 843484606) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2019

Legal Domicile

Principal Officer

TRACY HOOVER

Phone

3162471525

Tax Period

2024-01-01 to 2024-12-31

GROOVER LABS INC, founded in 2019, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2024. The organization ran a surplus of $654K, a strong 62% operating margin.

Mission

GROOVER LABS IS A NON-PROFIT WHOSE MISSION IS TO FOSTER GROWTH IN LOCAL START-UP ACTIVITY BY PROVIDING A SINGLE LOCATION WHERE ENTREPRENEURS AND TECH WORKERS CAN GET SUPPORT AND SHARE IDEAS IN A COLLABORATIVE WORKING ENVIRONMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $587,961

Program Service Revenue $448,500

Investment Income $12,694

Other Revenue $0

TOTAL REVENUE $1,049,155

Expense Breakdown

Grants Paid $0

Salaries & Benefits $148,877

Fundraising Expenses $0

Program Expenses $333,130

Other Expenses $246,206

TOTAL EXPENSES $395,083

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,049,155	$1,015,437	+0.0%
Expenses	$395,083	$364,943	+0.1%
Net Income	$654,072	$650,494	+0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVE CUNNINGHAM	DIRECTOR	1.00	Director	$0	$0	$0
TRACY HOOVER	TREASURER	40.00	Officer Director	$0	$0	$0
MARK JANZEN	DIRECTOR	1.00	Director	$0	$0	$0
GREG GIEFFER	DIRECTOR	1.00	Director	$0	$0	$0
KATE VAN STEENHUYSE	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,049,155	$395,083	$1,439,890	$654,072
2023	$1,015,437	$364,943	$791,740	$650,494
2022	$496,050	$374,533	$132,464	$121,517
2021	$214,736	$230,656	$2,707	$-15,920
2020	$245,633	$243,833	$18,738	$1,800

GROOVER LABS INC