Civic Intelligence

Grace Institute

990 • Fiscal year 2023 • EIN 13-1641069

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 06, 2024

Organization Profilewww.graceinstitute.org
1270 Avenue Of The Americas 1905New York, NY 10020

(212) 262-0662

Siviq Scores

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

Liabilities / Assets

34th percentile

0.09x

Higher debt load relative to assets than 34% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

3.25x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

3rd percentile

-135%

Higher net margin than 3% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

37th percentile

$207,500

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 15.6% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

24th percentile

-0.9%

Faster asset growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

134%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets34th percentile

Assets

Flat

$47,015,400

Flat from 2023

Net Assets

Flat

$42,692,618

Flat from 2023

Liabilities

Flat

$4,322,782

Flat from 2023

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin3rd percentile

Revenue

Flat

$1,328,173

Flat from 2023

Expenses

Flat

$3,117,379

Flat from 2023

Net Income

Flat

-$1,789,206

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$60M$40M$20M$0Assets 2011: $31,003,502Liabilities 2011: $1,159,986Net Assets 2011: $29,843,5162011Assets 2012: $29,498,952Liabilities 2012: $1,231,456Net Assets 2012: $28,267,4962012Assets 2013: $29,802,268Liabilities 2013: $944,706Net Assets 2013: $28,857,5622013Assets 2014: $43,827,649Liabilities 2014: $13,605,239Net Assets 2014: $30,222,4102014Assets 2015: $56,415,739Liabilities 2015: $4,354,389Net Assets 2015: $52,061,3502015Assets 2016: $52,180,143Liabilities 2016: $5,270,134Net Assets 2016: $46,910,0092016Assets 2017: $48,114,142Liabilities 2017: $4,878,923Net Assets 2017: $43,235,2192017Assets 2018: $45,301,035Liabilities 2018: $5,201,977Net Assets 2018: $40,099,0582018Assets 2019: $47,215,927Liabilities 2019: $5,562,092Net Assets 2019: $41,653,8352019Assets 2020: $52,052,870Liabilities 2020: $5,844,832Net Assets 2020: $46,208,0382020Assets 2021: $53,804,591Liabilities 2021: $4,862,920Net Assets 2021: $48,941,6712021Assets 2022: $47,444,330Liabilities 2022: $4,725,209Net Assets 2022: $42,719,1212022Assets 2023: $47,015,400Liabilities 2023: $4,322,782Net Assets 2023: $42,692,6182023Assets 2023: $47,015,400Liabilities 2023: $4,322,782Net Assets 2023: $42,692,6182023Assets 2024: $45,698,476Liabilities 2024: $3,805,800Net Assets 2024: $41,892,6762024

Highlighted filing

2023

Assets$47,015,400
Liabilities$4,322,782
Net Assets$42,692,618
Open 2023 Filing

Operations Trend

Revenue Growth95th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $2,471,465Expenses 2011: $2,813,358Net Income 2011: -$341,8932011Revenue 2012: $2,316,440Expenses 2012: $3,317,451Net Income 2012: -$1,001,0112012Expenses 2013: $3,289,2122013Revenue 2014: $2,948,123Expenses 2014: $3,948,935Net Income 2014: -$1,000,8122014Revenue 2015: $25,803,207Expenses 2015: $4,640,974Net Income 2015: $21,162,2332015Revenue 2016: $697,069Expenses 2016: $4,555,288Net Income 2016: -$3,858,2192016Revenue 2017: $1,389,644Expenses 2017: $4,952,672Net Income 2017: -$3,563,0282017Revenue 2018: $2,272,822Expenses 2018: $3,268,582Net Income 2018: -$995,7602018Revenue 2019: $1,787,355Expenses 2019: $3,287,959Net Income 2019: -$1,500,6042019Revenue 2020: $3,719,692Expenses 2020: $2,973,587Net Income 2020: $746,1052020Revenue 2021: $2,433,111Expenses 2021: $3,179,847Net Income 2021: -$746,7362021Revenue 2022: $566,435Expenses 2022: $3,274,911Net Income 2022: -$2,708,4762022Revenue 2023: $1,328,173Expenses 2023: $3,117,379Net Income 2023: -$1,789,2062023Revenue 2023: $1,328,173Expenses 2023: $3,117,379Net Income 2023: -$1,789,2062023Revenue 2024: $1,611,800Expenses 2024: $3,237,366Net Income 2024: -$1,625,5662024

Highlighted filing

2023

Revenue$1,328,173
Expenses$3,117,379
Net Income-$1,789,206
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 6, 2024
Return Version
2023v5.1
Gross Receipts
$19,819,872
Mission and Program Overview

Mission

Grace Institutes mission is to empower underserved women in the New York area to achieve employment and economic self-sufficiency. Within a supportive and structured environment, Grace Institute provides job-skills training, counseling, placement services and continuous learning opportunities that lead to upwardly mobile employment. Grace Institute offers these services so that participants can realize their inherent strength, resilience and limitless potential.

Provide financial support to job training programs that enable women to achieve employment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,674,803$16,152,874▼ $521,929
Investments in Publicly Traded Securities$9,829,080$15,908,084▲ $6,079,004
Investments Other Securities$20,123,878$14,377,463▼ $5,746,415
Savings and Temporary Cash Investments$619,332$514,472▼ $104,860
Prepaid Expenses and Deferred Charges$117,530--
Cash and Non-Interest-Bearing Accounts$35,730$22,560▼ $13,170
Total Assets$47,444,330$47,015,400▼ $428,930
Other Assets Total$43,977$39,947▼ $4,030
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,542,835$4,198,618▼ $344,217
Accounts Payable and Accrued Expenses$182,374$124,164▼ $58,210
Total Liabilities$4,725,209$4,322,782▼ $402,427
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$42,657,156$42,630,653▼ $26,503
Net Assets With Donor Restrictions$61,965$61,965→ $0
Total Net Assets Fund Balance$42,719,121$42,692,618▼ $26,503
Total Liabilities and Net Assets / Fund Balance$47,444,330$47,015,400▼ $428,930

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,152,874$4,157,874$20,310,748
Equipment$0$53,948$53,948
Other Land Buildings$0$26,720$26,720
Other Securities$14,377,463--
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Patrick GracePresident/secretaryFT$207,500$207,500

Board Members and Trustees

NameTitle
Pedro MataChairman
Elise GraceDirector
Margaret GraceDirector
Mary TidlundDirector
Rev Patrick DevineDirector
Russell MontgomerieDirector
Patricia MontgomerieAsst. Secr/tres

Highest Paid Contractors

ContractorServicesLocationCompensation
Vincent L PomeranzManaging Investment200 EAST 90TH STREET APT17E, New York, NY 10128$145,596
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,328,173
Other Revenue
$0
Change in Net Assets
$-1,789,206

Audited Revenue Reconciliation

Revenue per Audited Statements
$793,524
Revenue Not Reported on Financial Statements
$534,649
Revenue Not Reported on Form 990
$1,762,703
Total Revenue per Audited Statements
$2,556,227
Total Revenue per Form 990
$1,328,173
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,476,865
Grants and Similar Amounts Paid$1,420,000
Salaries, Compensation, and Employee Benefits$220,514
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,420,000--$1,420,000
Fees for Service Investment Mgmnt Fees-$534,649-$534,649
Depreciation Depletion$521,929--$521,929
Interest-$302,282-$302,282
Current Officers, Directors, Trustees, and Key Employees$166,000$41,500-$207,500
Fees for Services Other-$54,125-$54,125
Occupancy$25,420$6,355-$31,775
Fees for Services Accounting-$14,400-$14,400
Insurance$11,317$2,829-$14,146
Payroll Taxes$10,411$2,603-$13,014
Office Expenses-$2,727-$2,727
Travel$666$166-$832
Total Functional Expenses$2,155,743$961,636$0$3,117,379

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,117,379
Expenses per Audited Statements$2,582,730
Total Expenses per Audited Statements$2,582,730
Expenses Not Reported on Financial Statements$534,649
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grace Institute of New YorkNew York, NY501(c)(3)Operational Support$1,270,000
Grace OutreachBronx, NY501(c)(3)Operational Support$100,000
Catholic Charities Arch of NyNew York, NY501(c)(3)Operational Support$25,000
The Flax Trust AmericaNew York, NY501(c)(3)Operational Support$15,000
Per ScholasBronx, NY501(c)(3)Operational Support$10,000
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Patrick grace and patricia montgomerie are cousins. Patrick grace & margaret grace are married.”

Form 990, Part VI, Section B, Line 11B

“Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“The organization has a board approved conflict of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.”

Form 990, Part VI, Section B, Line 15A

“Each year, the board reviews comparable salaries based on a recognized study and reviews the performance of the president & ceo to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary package is voted on.”

Form 990, Part VI, Section C, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Grace Institute
EIN
13-1641069
Phone
2122620662
Address
1270 AVENUE OF THE AMERICAS 1905, NEW YORK, NY 10020

Signing Officer

Name
Patrick Grace
Title
President/secretary
Phone
2122620662
Signed
2024-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick Grace
Formed
1897
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
7
Employees
1
Volunteers
7

Preparer

Firm
Sax Llp
Address
1040 AVENUE OF THE AMERICAS16TH, FLOOR, NEW YORK, NY 10018
Preparer
Mike Schall
Phone
2122682804
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending december 31, 2020 and later are subject to examination by applicable taxing authorities.”

Raw XML AppendixShowing 400 of 465 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0182374
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0124164
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0PROVIDE FINANCIAL SUPPORT TO JOB TRAINING PROGRAMS THAT ENABLE WOMEN TO ACHIEVE EMPLOYMENT.
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0SHERRY LI
IRS990/BooksInCareOfDetail/PhoneNum02122620662
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01270 AVENUE OF THE AMERICAS
IRS990/BooksInCareOfDetail/USAddress/CityNm0NEW YORK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NY
IRS990/BooksInCareOfDetail/USAddress/ZIPCd010020
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt035730
IRS990/CashNonInterestBearingGrp/EOYAmt022560
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt041500
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0166000
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0207500
IRS990/CompensationFromOtherSrcsInd01
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0145596
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0200 EAST 90TH STREET APT17E
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0NEW YORK
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0NY
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd010128
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0VINCENT L POMERANZ
IRS990/ContractorCompensationGrp/ServicesDesc0MANAGING INVESTMENT
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt01420000
IRS990/CYInvestmentIncomeAmt01328173
IRS990/CYOtherExpensesAmt01476865
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-1789206
IRS990/CYSalariesCompEmpBnftPaidAmt0220514
IRS990/CYTotalExpensesAmt03117379
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01328173
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0521929
IRS990/DepreciationDepletionGrp/TotalAmt0521929
IRS990/Desc0PROVIDED GRANTS TO DESERVING WORKFORCE DEVELOPMENT ORGANIZATIONS IN LINE WITH OUR MISSION.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt061965
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt061965
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt01
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt02155743
IRS990/FamilyOrBusinessRlnInd01
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt014400
IRS990/FeesForServicesAccountingGrp/TotalAmt014400
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt054125
IRS990/FeesForServicesOtherGrp/TotalAmt054125
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt0534649
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt0534649
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt15.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/PersonNm0PATRICK GRACE
IRS990/Form990PartVIISectionAGrp/PersonNm1PATRICIA MONTGOMERIE
IRS990/Form990PartVIISectionAGrp/PersonNm2PEDRO MATA
IRS990/Form990PartVIISectionAGrp/PersonNm3REV PATRICK DEVINE
IRS990/Form990PartVIISectionAGrp/PersonNm4MARGARET GRACE
IRS990/Form990PartVIISectionAGrp/PersonNm5MARY TIDLUND
IRS990/Form990PartVIISectionAGrp/PersonNm6ELISE GRACE
IRS990/Form990PartVIISectionAGrp/PersonNm7RUSSELL MONTGOMERIE
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0207500
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1ASST. SECR/TRES
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01897
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0593796
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GrantAmt01420000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01420000
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01420000
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt019085495
IRS990/GrossReceiptsAmt019819872
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt02829
IRS990/InsuranceGrp/ProgramServicesAmt011317
IRS990/InsuranceGrp/TotalAmt014146
IRS990/InterestGrp/ManagementAndGeneralAmt0302282
IRS990/InterestGrp/TotalAmt0302282
IRS990/InvestmentIncomeGrp/ExclusionAmt0734377
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0734377
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt020123878
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt014377463
IRS990/InvestmentsPubTradedSecGrp/BOYAmt09829080
IRS990/InvestmentsPubTradedSecGrp/EOYAmt015908084
IRS990/IRPDocumentCnt05
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt04238542
IRS990/LandBldgEquipBasisNetGrp/BOYAmt016674803
IRS990/LandBldgEquipBasisNetGrp/EOYAmt016152874
IRS990/LandBldgEquipCostOrOtherBssAmt020391416
IRS990/LegalDomicileStateCd0NY
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt018491699
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0GRACE INSTITUTE (THE "FOUNDATION") PROVIDES FINANCIAL SUPPORT TO JOB TRAINING PROGRAMS IN NEW YORK CITY THAT ENABLE WOMEN TO ACHIEVE SUSTAINED, GAINFUL EMPLOYMENT. THE FOUNDATION GIVES PARTICULAR ATTENTION TO THE ONGOING OPERATION AND VIABILITY OF GRACE INSTITUTE OF NEW YORK, WHICH ASSUMED THE FOUNDATION'S HISTORICAL OPERATION ROLE IN NEW YORK CITY WORKFORCE DEVELOPMENT IN OCTOBER 2016.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt04542835
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt04198618
IRS990/NetAssetsOrFundBalancesBOYAmt042719121
IRS990/NetAssetsOrFundBalancesEOYAmt042692618
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0593796
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0593796
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt01762703
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt042657156
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt042630653
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt06355
IRS990/OccupancyGrp/ProgramServicesAmt025420
IRS990/OccupancyGrp/TotalAmt031775
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02727
IRS990/OfficeExpensesGrp/TotalAmt02727
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt043977
IRS990/OtherAssetsTotalGrp/EOYAmt039947
IRS990/OtherChangesInNetAssetsAmt00
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02603
IRS990/PayrollTaxesGrp/ProgramServicesAmt010411
IRS990/PayrollTaxesGrp/TotalAmt013014
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0117530
IRS990/PrincipalOfficerNm0PATRICK GRACE
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0768
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01510000
IRS990/PYInvestmentIncomeAmt0565667
IRS990/PYOtherExpensesAmt01522639
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-2708476
IRS990/PYSalariesCompEmpBnftPaidAmt0242272
IRS990/PYTotalExpensesAmt03274911
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0566435
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1789206
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0619332
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0514472
IRS990ScheduleA/ChurchInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt016152874
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04157874
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt020310748
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt053948
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt053948
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0534649
IRS990ScheduleD/ExpensesSubtotalAmt02582730
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0534649
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0534649
IRS990ScheduleD/NetUnrealizedGainsInvstAmt01762703
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt026720
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt026720
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt014377463
IRS990ScheduleD/OtherSecuritiesGrp/Desc0ALTERNATIVE INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueNotReportedAmt01762703
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0534649
IRS990ScheduleD/RevenueSubtotalAmt0793524
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY MATERIAL, UNCERTAIN TAX POSITIONS. TAX FILINGS FOR PERIODS ENDING DECEMBER 31, 2020 AND LATER ARE SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016152874
IRS990ScheduleD/TotalBookValueSecuritiesAmt014377463
IRS990ScheduleD/TotalExpensesPerForm990Amt03117379
IRS990ScheduleD/TotalRevenuePerForm990Amt01328173
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02556227
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02582730
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt01270000
IRS990ScheduleI/RecipientTable/CashGrantAmt1100000
IRS990ScheduleI/RecipientTable/CashGrantAmt215000
IRS990ScheduleI/RecipientTable/CashGrantAmt325000
IRS990ScheduleI/RecipientTable/CashGrantAmt410000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt40
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0GRACE INSTITUTE OF NEW YORK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1GRACE OUTREACH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2THE FLAX TRUST AMERICA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3CATHOLIC CHARITIES ARCH OF NY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4PER SCHOLAS
IRS990ScheduleI/RecipientTable/RecipientEIN0810844164
IRS990ScheduleI/RecipientTable/RecipientEIN1861110482
IRS990ScheduleI/RecipientTable/RecipientEIN2251482764
IRS990ScheduleI/RecipientTable/RecipientEIN3135562185
IRS990ScheduleI/RecipientTable/RecipientEIN4043252955
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt040 RECTOR STREET 14TH FLOOR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1378 E 151ST ST 5
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2320 PARK AVE - 4TH FLOOR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31011 1ST AVE 11TH FLOOR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt49804 E 138TH STREET 2ND FLOOR
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm1BRONX
IRS990ScheduleI/RecipientTable/USAddress/CityNm2NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm3NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm4BRONX
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010006
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110455
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210022
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd310022
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd410454
IRS990ScheduleI/Total501c3OrgCnt05
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0207500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PATRICK GRACE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0207500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PATRICK GRACE AND PATRICIA MONTGOMERIE ARE COUSINS. PATRICK GRACE & MARGARET GRACE ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT REVIEWED A DRAFT OF THE FORM 990 WITH THE AUDIT/FINANCE COMMITTEE AND PROVIDED EDITS TO THE TAX PREPARER. AFTER THIS PROCESS WAS PERFORMED, THE FORM 990 WAS SENT TO THE FULL BOARD OF DIRECTORS PRIOR TO BEING FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS A BOARD APPROVED CONFLICT OF INTEREST POLICY. EACH BOARD MEMBER MUST FILL OUT AN ANNUAL DECLARATION STATING THEY HAD NO CONFLICTS OR IDENTIFYING THE NATURE OF THEIR INTERESTED PARTY TRANSACTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH YEAR, THE BOARD REVIEWS COMPARABLE SALARIES BASED ON A RECOGNIZED STUDY AND REVIEWS THE PERFORMANCE OF THE PRESIDENT & CEO TO DETERMINE IF THE EXISTING SALARY FALLS WITHIN THESE RANGES. AFTER A DELIBERATION OF THIS MATTER, A NEW PROPOSED SALARY PACKAGE IS VOTED ON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt047444330
IRS990/TotalAssetsEOYAmt047015400
IRS990/TotalAssetsGrp/BOYAmt047444330
IRS990/TotalAssetsGrp/EOYAmt047015400
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$47,015,400
Liabilities
$4,322,782
Net assets
$42,692,618
Revenue
$1,328,173
Expenses
$3,117,379
Net income
-$1,789,206
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.7$3.81$41.9$1.61$3.24$1.63
2023Detailed filing. Detailed filing data is available for this year.$47.0$4.32$42.7$1.33$3.12$1.79
2023Summary only. Only limited summary data is available for this year.$47.0$4.32$42.7$1.33$3.12$1.79
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$47.4$4.73$42.7$0.57$3.27$2.71
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.8$4.86$48.9$2.43$3.18$0.75
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$52.1$5.84$46.2$3.72$2.97$0.75
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$47.2$5.56$41.7$1.79$3.29$1.50
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.3$5.20$40.1$2.27$3.27$1.00
2017Summary only. Only limited summary data is available for this year.$48.1$4.88$43.2$1.39$4.95$3.56
2016Summary only. Only limited summary data is available for this year.$52.2$5.27$46.9$0.70$4.56$3.86
2015Detailed filing. Detailed filing data is available for this year.$56.4$4.35$52.1$25.8$4.64$21.2
2014Detailed filing. Detailed filing data is available for this year.$43.8$13.6$30.2$2.95$3.95$1.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.8$0.94$28.9$3.29
2012Summary only. Only limited summary data is available for this year.$29.5$1.23$28.3$2.32$3.32$1.00
2011Summary only. Only limited summary data is available for this year.$31.0$1.16$29.8$2.47$2.81$0.34