Civic Intelligence

Grace House Inc

990 • Fiscal year 2021 • EIN 20-2023995

Jul 01, 2020 to Jun 30, 2021 • Filed on May 15, 2022

11400 Rockville Pike Ste 505Rockville, MD 20852

(301) 493-6000

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.93x

Higher debt load relative to assets than 93% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

91st percentile

1.71x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

15th percentile

-10%

Higher net margin than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

96th percentile

$369,452

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

7th percentile

-12%

Faster asset growth than 7% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

38th percentile

3.2%

Faster revenue growth than 38% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$4,149,501

Down $570,093 (-12%) from 2020

Net Assets

Down

$303,525

Down $224,881 (-43%) from 2020

Liabilities

Down

$3,845,976

Down $345,212 (-8.2%) from 2020

Revenue

Up

$2,246,362

Up $69,399 (+3.2%) from 2020

Expenses

Up

$2,471,243

Up $218,526 (+9.7%) from 2020

Net Income

Down

-$224,881

Down $149,127 (-197%) from 2020

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $5,225,076Liabilities 2011: $4,718,352Net Assets 2011: $506,7242011Assets 2012: $5,183,079Liabilities 2012: $4,641,308Net Assets 2012: $541,7712012Assets 2013: $5,111,475Liabilities 2013: $4,541,508Net Assets 2013: $569,9672013Assets 2014: $5,048,845Liabilities 2014: $4,483,984Net Assets 2014: $564,8612014Assets 2015: $5,015,993Liabilities 2015: $4,407,602Net Assets 2015: $608,3912015Assets 2016: $4,997,475Liabilities 2016: $4,323,696Net Assets 2016: $673,7792016Assets 2017: $4,817,502Liabilities 2017: $4,188,246Net Assets 2017: $629,2562017Assets 2018: $4,658,714Liabilities 2018: $4,093,626Net Assets 2018: $565,0882018Assets 2019: $4,598,147Liabilities 2019: $3,993,987Net Assets 2019: $604,1602019Assets 2020: $4,719,594Liabilities 2020: $4,191,188Net Assets 2020: $528,4062020Assets 2021: $4,149,501Liabilities 2021: $3,845,976Net Assets 2021: $303,5252021Assets 2022: $4,068,494Liabilities 2022: $3,811,295Net Assets 2022: $257,1992022Assets 2023: $3,955,510Liabilities 2023: $3,855,101Net Assets 2023: $100,4092023Assets 2024: $3,816,474Liabilities 2024: $3,679,953Net Assets 2024: $136,5212024

Highlighted filing

2021

Assets$4,149,501
Liabilities$3,845,976
Net Assets$303,525

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,465,649Expenses 2011: $1,409,047Net Income 2011: $56,6022011Revenue 2012: $1,557,357Expenses 2012: $1,522,310Net Income 2012: $35,0472012Revenue 2013: $1,570,229Expenses 2013: $1,542,033Net Income 2013: $28,1962013Revenue 2014: $1,694,965Expenses 2014: $1,700,071Net Income 2014: -$5,1062014Revenue 2015: $1,764,494Expenses 2015: $1,720,964Net Income 2015: $43,5302015Revenue 2016: $1,811,286Expenses 2016: $1,745,898Net Income 2016: $65,3882016Revenue 2017: $1,841,936Expenses 2017: $1,886,459Net Income 2017: -$44,5232017Revenue 2018: $1,978,682Expenses 2018: $2,044,349Net Income 2018: -$65,6672018Revenue 2019: $2,132,613Expenses 2019: $2,093,541Net Income 2019: $39,0722019Revenue 2020: $2,176,963Expenses 2020: $2,252,717Net Income 2020: -$75,7542020Revenue 2021: $2,246,362Expenses 2021: $2,471,243Net Income 2021: -$224,8812021Revenue 2022: $2,479,685Expenses 2022: $2,526,011Net Income 2022: -$46,3262022Revenue 2023: $1,228,466Expenses 2023: $1,335,497Net Income 2023: -$107,0312023Revenue 2024: $2,668,638Expenses 2024: $2,632,529Net Income 2024: $36,1092024

Highlighted filing

2021

Revenue$2,246,362
Expenses$2,471,243
Net Income-$224,881
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 15, 2022
Return Version
2020v4.2
Gross Receipts
$2,246,362
Mission and Program Overview

Mission

Assisted living residence for low- and moderate-income frail elderly persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,703,013$3,542,907▼ $160,106
Intangible Assets$43,253$43,253→ $0
Accounts Receivable$8,488--
Savings and Temporary Cash Investments$431,330$2,061▼ $429,269
Prepaid Expenses and Deferred Charges-$391-
Cash and Non-Interest-Bearing Accounts$300$300→ $0
Total Assets$4,719,594$4,149,501▼ $570,093
Other Assets Total$533,210$560,589▲ $27,379
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,615,326$3,521,805▼ $93,521
Other Liabilities$190,160$189,706▼ $454
Accounts Payable and Accrued Expenses$384,689$133,772▼ $250,917
Deferred Revenue$1,013$693▼ $320
Total Liabilities$4,191,188$3,845,976▼ $345,212
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$526,906$302,025▼ $224,881
Net Assets With Donor Restrictions$1,500$1,500→ $0
Total Net Assets Fund Balance$528,406$303,525▼ $224,881
Total Liabilities and Net Assets / Fund Balance$4,719,594$4,149,501▼ $570,093

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,858,337$1,783,364$4,641,701
Land$640,000-$640,000
Other Land Buildings$33,111$265,147$298,258
Equipment$11,459$64,978$76,437
Other Assets Org$513--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Jeffrey BlackwellVP, Real Estate Developmenasst. Secretary$213,961$213,961

Board Members and Trustees

NameTitle
Leila a FinucanePresident & CEO
John D SpencerSenior Vice President
Jacqueline R SmedleyVice President
Julie SmithDirector
Rev Daniel CarsonDirector
Terry FarrellDirector
Edward CreskoffSecretary
Michelle M LimeresTreasurer
Jeffrey BlackwellVP, Real Estate Developmenasst. Secr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,244,163
Investment Income
$2,199
Other Revenue
$0
Change in Net Assets
$-224,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,431,243
Grants and Similar Amounts Paid$40,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$1,480,907$138,516-$1,619,423
Depreciation Depletion$161,356--$161,356
Interest$104,559--$104,559
Occupancy$51,343--$51,343
Office Expenses$49,392--$49,392
Fees for Services Accounting-$46,057-$46,057
Grants to Domestic Orgs$40,000--$40,000
Fees for Services Other$31,953--$31,953
Advertising$9,219--$9,219
Insurance$8,400--$8,400
Fees for Services Legal$3,524--$3,524
Information Technology$2,304--$2,304
Other Expenses$2,119--$2,119
Conferences and Meetings$1,454--$1,454
Total Functional Expenses$2,286,670$184,573$0$2,471,243
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Victory Housing IncRockville, MD501(c)(3)General Support$40,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Resident Security Deposits$185,015
Prepaid Revenue$4,691
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
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Members there is one class of membership which consists of the archbishop of the archdiocese of washington,the moderator of the curia of the archdiocese of washington, the chancellor of the archdiocese of washington,and their successors in office, each as selected or appointed according to the discpline of the roman catholic church.

Form 990, Part VI, Section A, Line 7A

The election and removal of members of the board of directors and the filling of vacancies that may occur.

Form 990, Part VI, Section A, Line 7B

Reserved powers of corporate members: the corporate members reserve to themselves authority to authorize the following actions: (a)the oversight and authentication of the corporation's mission, (b)the adoption or amendment of a mission statement; (c)the amendment of the articles of incorporation and the amendment of the bylaws; (d)the election and removal of members to the board of directors and the filling of vacancies that may occur; (e)the appointment and termination of the president/chief executive officer ("ceo"); (f)the acquisition, purchase, sale, lease, disposition or hypothecation of real property by corporation; (g) the approval of the borrowing of money or the guarantee of any obligations; the approval of any budget which reflects an operating deficit; (i) the approval of fiscal auditors.

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

The form 990 is provided to board members for review prior to filing.

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

The organization's related organization, victory housing, has a written conflict of interest policy. The board members and officers of the organization acknowledge and adhere to this policy, and they annually disclose any conflicts of interest. Additionally, any conflicts that arise that are related to transactions considered by the board are discussed at quarterly meetings.

Form 990, Part VI, Section B, Line 15

Those members of the board for whom compensation is reported in part vii of this form 990 are compensated by a related organization, victory housing, inc.

Form 990, Part VI, Section C, Line 19

These documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Grace House Inc
EIN
20-2023995
Phone
3014936000
Address
11400 ROCKVILLE PIKE STE 505, ROCKVILLE, MD 20852

Signing Officer

Name
Leila a Finucane
Title
CEO/president
Phone
3014936000
Signed
2022-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leila a Finucane
Formed
2004
Legal Domicile
Md
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
7501 WISCONSIN AVENUE SUITE 400E, BETHESDA, MD 20814
Preparer
Lisa M Cummings CPA
Phone
3016529100
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Grace house has applied for and received a determination letter from the internal revenue service ("irs") to be treated as a tax-exempt entity pursuant to section 501 (c)(3) of the internal revenue code and did not have any unrelated business income for the years ended june 30, 2021 and 2020. Due to its tax-exempt status, grace house is not subject to income taxes. Grace house is required to file and does file tax returns with the irs and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes for grace house and it has no other tax positions which must be considered for disclosure. Income tax returns filed by grace house are subject to examination by the internal revenue service for a period of three years. While no income tax returns are currently being examined by the internal revenue service, tax years since 2018 remain open.

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

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4SENIOR VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7VP, REAL ESTATE DEVELOPMENASST. SECRETARY
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IRS990/OccupancyGrp/TotalAmt051343
IRS990/OfficeExpensesGrp/ProgramServicesAmt049392
IRS990/OfficeExpensesGrp/TotalAmt049392
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0533210
IRS990/OtherAssetsTotalGrp/EOYAmt0560589
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS ADMINISTR
IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2CONTRACT
IRS990/OtherExpensesGrp/Desc3OTHER TAXES & LICENSES
IRS990/OtherExpensesGrp/ProgramServicesAmt0156214
IRS990/OtherExpensesGrp/ProgramServicesAmt1150571
IRS990/OtherExpensesGrp/ProgramServicesAmt233355
IRS990/OtherExpensesGrp/ProgramServicesAmt32119
IRS990/OtherExpensesGrp/TotalAmt0156214
IRS990/OtherExpensesGrp/TotalAmt1150571
IRS990/OtherExpensesGrp/TotalAmt233355
IRS990/OtherExpensesGrp/TotalAmt32119
IRS990/OtherLiabilitiesGrp/BOYAmt0190160
IRS990/OtherLiabilitiesGrp/EOYAmt0189706
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0391
IRS990/PrincipalOfficerNm0LEILA A FINUCANE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/Desc0RENT REVENUE - HOUSING
IRS990/ProgramServiceRevenueGrp/Desc1OTHER HOUSING REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02101717
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1142446
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02101717
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1142446
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt040000
IRS990/PYInvestmentIncomeAmt0-363
IRS990/PYOtherExpensesAmt02212717
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02177326
IRS990/PYRevenuesLessExpensesAmt0-75754
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02252717
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02176963
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-224881
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02244163
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0431330
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02061
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt03155
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03155
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt02199
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt04800
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt02459
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02089
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01970
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt013517
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02244163
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02177326
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02130154
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01976592
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01836811
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt010365046
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt02199
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt04800
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02459
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02089
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01970
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt013517
IRS990ScheduleA/InvestmentIncomeCYPct00.00130
IRS990ScheduleA/InvestmentIncomePYPct00.00150
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99870
IRS990ScheduleA/PublicSupportPY509Pct00.99850
IRS990ScheduleA/PublicSupportTotal509Amt010368201
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt02244163
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02177326
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02130154
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01976592
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01839966
IRS990ScheduleA/Total509Grp/TotalAmt010368201
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02246362
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02182126
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02132613
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01978681
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01841936
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt010381718
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02858337
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01783364
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04641701
IRS990ScheduleD/EquipmentGrp/BookValueAmt011459
IRS990ScheduleD/EquipmentGrp/DepreciationAmt064978
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt076437
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0640000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0640000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0375061
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1185015
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2513
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESIDENT SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt033111
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0265147
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0298258
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0185015
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt14691
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RESIDENT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID REVENUE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GRACE HOUSE HAS APPLIED FOR AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2021 AND 2020. DUE TO ITS TAX-EXEMPT STATUS, GRACE HOUSE IS NOT SUBJECT TO INCOME TAXES. GRACE HOUSE IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES FOR GRACE HOUSE AND IT HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY GRACE HOUSE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2018 REMAIN OPEN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03542907
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0560589
IRS990ScheduleD/TotalLiabilityAmt0189706
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt040000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0VICTORY HOUSING INC
IRS990ScheduleI/RecipientTable/RecipientEIN0521261881
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt011400 ROCKVILLE PIKE SUITE 505
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ROCKVILLE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MD
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd020852
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS ARE ISSUED TO A RELATED ORGANIZATION. THEREFORE, USE OF FUNDS IS ABLE TO BE MONITORED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt060000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt130000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt220000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt330000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt420000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0276028
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1200076
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2195514
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt3171854
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt4168508
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt30

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.82$3.68$0.14$2.67$2.63$0.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.96$3.86$0.10$1.23$1.34$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.07$3.81$0.26$2.48$2.53$0.05
2021Detailed filing. Detailed filing data is available for this year.$4.15$3.85$0.30$2.25$2.47$0.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.72$4.19$0.53$2.18$2.25$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.60$3.99$0.60$2.13$2.09$0.04
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.66$4.09$0.57$1.98$2.04$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.82$4.19$0.63$1.84$1.89$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.00$4.32$0.67$1.81$1.75$0.07
2015Detailed filing. Detailed filing data is available for this year.$5.02$4.41$0.61$1.76$1.72$0.04
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.05$4.48$0.56$1.69$1.70$0.01
2013Summary only. Only limited summary data is available for this year.$5.11$4.54$0.57$1.57$1.54$0.03
2012Summary only. Only limited summary data is available for this year.$5.18$4.64$0.54$1.56$1.52$0.04
2011Summary only. Only limited summary data is available for this year.$5.23$4.72$0.51$1.47$1.41$0.06