Groundswell Capital logo

Groundswell Capital

Public charity · Grantmaker Tucson, AZ EIN: 86-1017490 Website

Groundswell Capital is a Tucson, Arizona-based nonprofit lender and public charity that provides financing and support for small businesses, clean-energy projects, and community initiatives in Arizona. Its offerings include business loans, clean-energy financing, workforce microloans, business education, and community grants.

Groundswell Capital at a glance

In short: Groundswell Capital gave $148K across 11 grants in 2025 (avg $13K), mostly in Arizona. Source: 2025 IRS Form 990.

Annual giving (2025)
$147,500
-51.5% vs 2024
Grants made (2025)
11
-60.7% vs 2024
Average grant
$13,409
+23.5% vs 2024
Median grant
$10,000
Total assets
$13,828,734
+331.0% vs 2024
Primary geography
Arizona (100% of itemized 2025 grant dollars)
Latest 990 filing
Form 990, 2025 View filing

Data from IRS Form 990, 2025; updated October 2026.

How to apply to Groundswell Capital

Contact

Mailing address: 600 S Meyer Avenue Unit 3, Tucson, AZ 85701
Phone: (520) 222-6722
Website: https://groundswellcapital.org

Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.

Who Groundswell Capital funds

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2025

Scented Leaf Tea House: $25KScented Leaf Tea House$25KDolce Pastello Cakes: $20KDolce Pastello Cakes$20KWhite File LLC: $19KWhite File LLC$19KDanny's Downtown Barber: $15KDanny's Downtown Barber$15KUrban Pita LLC: $15KUrban Pita LLC$15KMestizo Studio: $10KMestizo Studio$10KBerry Greens Juice Bar: $10KBerry Greens Juice Bar$10KSora Head Spa: $10KSora Head Spa$10KBricks & Minifigs (Everything Is Awesome): $10KBricks & Minifigs (EverythingIs Awesome)$10K1972 Barber & Shave Parlor LLC: $8K1972 Barber & Shave Parlor LLC$8K

The largest 2025 recipient was Scented Leaf Tea House ($25K). Together the top 10 received $142K.

Grant Size Distribution

39 grants across all recorded years

39<$50K$50–100K$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 39 grants of 39 (100%).

Geographic Focus

Where this funder awards grants

Groundswell Capital describes its lending and clean-energy financing as serving Arizona. Its website’s three listed grant funds are focused on Tucson, and all 11 grants itemized for filing year 2025 went to recipients in Arizona.

Grant Distribution by State

1state

Share of 2025 grant dollars across all 11 itemized grants.

States

Cities

TucsonMesaPhoenix

How Groundswell Capital gives

  • 9% of 2025 grantees were also funded in 2024. Method

Estimate from itemized grant lists in IRS Form 990 filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Giving History

Giving Over Time

Total grant dollars and number of grants per year

$0$100K$200K$300K$400K0 grants2023 28 grants2024 11 grants2025

From 2024 to 2025, annual grant giving ranged from $148K (2025) to $304K (2024). In 2025 it made 11 grants totaling $148K.

Grants by year

Grant recipients and amounts by year

RecipientPurposeAmount
Scented Leaf Tea House Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$25,000
Dolce Pastello Cakes Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$20,000
White File LLC Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$18,500
Danny's Downtown Barber Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$15,000
Urban Pita LLC Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$15,000
Mestizo Studio Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$10,000
Berry Greens Juice Bar Tucson, AZGeneal Support$10,000
Sora Head Spa Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$10,000
Bricks & Minifigs (Everything Is Awesome) Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$10,000
1972 Barber & Shave Parlor LLC Tucson, AZSupport small businesses and entrepreneurs within the rio nuevo district.$8,000
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Financial History

Multi-year comparison from IRS filings

Figures from IRS filings, by filing year
Filing yearTotal AssetsRevenueExpensesGrants paidGrantsNet Investment Income
2025$13,828,734$1,063,297$591,509$147,50011$131,791
2024$3,208,352$2,426,655$1,038,222$303,90328—
2023$986,986$1,003,528$583,739———

Research compiled by Grantable AI from public sources. Last updated October 2026.

Mission & Focus Areas

Groundswell Capital’s stated mission is to develop innovative, blended capital solutions for community challenges and invest in a vibrant, clean economy where all residents can prosper.

Its programs include loans for Arizona businesses, financing for clean-energy and water projects, and 0% interest microloans for graduates of workforce training programs. It also offers business coaching, classes, and workshops. The organization describes its small-business lending as relationship-based, with underwriting that considers a business’s overall circumstances rather than relying only on credit scores or collateral.

Grantmaking

In filing year 2025, Groundswell Capital reported 11 grants totaling $147,500. Grant amounts ranged from $6,000 to $25,000, with a median of $10,000. All reported grant dollars went to Arizona recipients. The stated purpose for most of the listed awards was to support small businesses and entrepreneurs in Tucson’s Rio Nuevo district.

The largest reported awards were $25,000 to Scented Leaf Tea House, $20,000 to Dolce Pastello Cakes, $18,500 to White File LLC, and $15,000 each to Danny’s Downtown Barber and Urban Pita LLC. Other listed awards ranged from $6,000 to $10,000.

The organization’s website lists three active Tucson grant funds under the Transform Tucson: Changemakers Grant Program: the Good Energy Grant Fund, offering up to $10,000 per small business for clean-energy improvements; the Groundswell Seed Fund, offering up to $5,000 for aspiring entrepreneurs and startups; and the Groundswell Growth Fund, offering up to $10,000 for established small businesses ready to grow. The listed eligible uses include clean-energy equipment and improvements, startup costs, equipment, technology, and expansion.

Groundswell Capital’s 2024 filing says it receives pass-through grant funding from other organizations and uses it to distribute community grants. It describes its role as potentially including marketing opportunities, reviewing applications, disbursing awards, and tracking grant activity. These funds received by Groundswell are distinct from the grants it reports giving.

Leadership & Key People

Leadership team and compensation from IRS filings

The 2025 filing lists Andrea Thompson as president, Dave Dicosola as vice-president, and Rob Tull as treasurer. It also lists Miguel Cruz, Anne Dougherty, Amber Cordoba, Sandra Barton, Mark Mansfield, Ritesh Patel, and Angelo Torrealba as board members.

The organization’s website identifies Dre Thompson as president and CEO and lists Erin McGuinness as director of finance, Mandi Shepherd as HR director, Anahi Figueroa Gastelum as financial educator, Nieves Montaño as events and community experience lead, and Mica Kinder as EarthWise clean energy lead.

Groundswell Capital is led by Andrea Thompson, President since 2024 (on filings since 2023); none of the 10 officers listed in 2025 report compensation.

Officers on the 2025 filing

  • Andrea Thompson

    President

    Chief Executive Officer → President, 2024

    On filings since 2023

    40 hrs/week

    No compensation reported

  • Sandra Barton

    Board Member

    On filings since 2023

    1 hr/week

    No compensation reported

  • Amber Cordoba

    Board Member

    On filings since 2024

    1 hr/week

    No compensation reported

  • Angelo Torrealba

    Board Member

    Secretary → Board Member, 2025

    On filings since 2024

    1 hr/week

    No compensation reported

  • Dave Dicosola

    Vice President

    Vice Chair → Vice President, 2025

    On filings since 2024

    1 hr/week

    No compensation reported

  • Mark Mansfield

    Board Member

    On filings since 2024

    1 hr/week

    No compensation reported

  • Miguel Cruz

    Board Member

    On filings since 2024

    1 hr/week

    No compensation reported

  • Ritesh Patel

    Board Member

    On filings since 2024

    1 hr/week

    No compensation reported

  • Rob Tull

    Treasurer

    On filings since 2024

    1 hr/week

    No compensation reported

  • Anne Dougherty

    Board Member

    New on the 2025 filing

    1 hr/week

    No compensation reported

Former officers (7)
  • Former: Anne Doughtery (2024) — Board Member
  • Former: Judy Clinco (2023) — Board Member
  • Former: Melissa Mimi Noshay-Petro (2023) — Board Member
  • Former: Meredith Aronson (2023) — Board Member
  • Former: Moniqua Lane (2023) — Board Member
  • Former: Patricia Schwabe (2023) — Board Member
  • Former: Shay Jimenez (2023) — Board Member

Data from IRS Form 990 filings, 2023–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Frequently asked questions about Groundswell Capital

How much does Groundswell Capital give each year?

Groundswell Capital gave $148K across 11 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $304K across 28 grants.

What is Groundswell Capital's typical grant size?

Groundswell Capital's median grant in 2025 was $10,000, and its average grant was $13,409, across 11 grants on its 2025 IRS Form 990.

Where does Groundswell Capital give grants?

Groundswell Capital gives mostly in Arizona: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Tucson, AZ (11 grants).

Does Groundswell Capital give general operating support?

Not in 2025: none of the 11 grants with a stated purpose on Groundswell Capital's 2025 IRS Form 990 were described as general or operating support.

Who are Groundswell Capital's largest grantees?

Groundswell Capital's largest 2025 grantees include Scented Leaf Tea House ($25,000), Dolce Pastello Cakes ($20,000) and White File LLC ($18,500), according to its 2025 IRS Form 990. Together they received 43% of its itemized 2025 grant dollars.

How large is Groundswell Capital?

Groundswell Capital reported $13.8M in total assets on its 2025 IRS Form 990. Its revenue that year was $1.1M.

What does Groundswell Capital fund?

Groundswell Capital’s stated mission is to develop innovative, blended capital solutions for community challenges and invest in a vibrant, clean economy where all residents can prosper. See mission & focus areas ↑

How do I apply for a grant from Groundswell Capital?

Groundswell Capital has no public application process in the sources Grantable reviewed. Check groundswellcapital.org for current guidelines, or contact the foundation directly before submitting a request.

What is Groundswell Capital's EIN?

Groundswell Capital's EIN (Employer Identification Number) is 86-1017490. IRS Form 990 filing data is available on this page for 2023–2025.

Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.

Data update history

(3)

When this profile's IRS filing data changed on Grantable

  1. Updated Form 990 for fiscal year 2024 (received by the IRS April 13, 2026)
  2. Added Form 990 for fiscal year 2025 (received by the IRS April 28, 2026)
  3. IRS filings on file for fiscal years 2023–2024

Explore Open Grants

Browse active grant opportunities in Groundswell Capital's focus areas in our free grants database

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The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open

Figures come from Groundswell Capital's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.

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