Civic Intelligence

Grace Place Retirement Community

EIN 27-0263021 • 501(c)3 • Memphis, TN

Profile

To provide low income affordable housing to elderly.

4044 S Bordeaux Creek CoveMemphis, TN 38125
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

54th percentile

0.10x

Higher debt load relative to revenue than 54% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

12th percentile

-27%

Higher net margin than 12% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

28th percentile

-3.0%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2025

Revenue Growth

44th percentile

4.2%

Faster revenue growth than 44% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2025

Assets

Down

$2,435,629

Down $91,957 (-3.6%) from 2024

Liabilities

Up

$39,894

Up $11,820 (+42%) from 2024

Net Assets

Down

$2,395,735

Down $103,777 (-4.2%) from 2024

Revenue

Up

$390,499

Up $20,446 (+5.5%) from 2024

Expenses

Up

$494,276

Up $69,058 (+16%) from 2024

Net Income

Down

-$103,777

Down $48,612 (-88%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2014: $3,155,089Liabilities 2014: $3,295,806Net Assets 2014: -$140,7172014Assets 2015: $3,136,334Liabilities 2015: $42,059Net Assets 2015: $3,094,2752015Assets 2016: $3,051,466Liabilities 2016: $27,775Net Assets 2016: $3,023,6912016Assets 2017: $2,983,149Liabilities 2017: $17,044Net Assets 2017: $2,966,1052017Assets 2018: $2,926,951Liabilities 2018: $25,923Net Assets 2018: $2,901,0282018Assets 2019: $2,863,021Liabilities 2019: $35,846Net Assets 2019: $2,827,1752019Assets 2020: $2,767,932Liabilities 2020: $35,598Net Assets 2020: $2,732,3342020Assets 2021: $2,708,650Liabilities 2021: $34,032Net Assets 2021: $2,674,6182021Assets 2022: $2,646,434Liabilities 2022: $32,248Net Assets 2022: $2,614,1862022Assets 2023: $2,588,346Liabilities 2023: $33,669Net Assets 2023: $2,554,6772023Assets 2024: $2,527,586Liabilities 2024: $28,074Net Assets 2024: $2,499,5122024Assets 2025: $2,435,629Liabilities 2025: $39,894Net Assets 2025: $2,395,7352025

Highlighted filing

2025

Assets$2,435,629
Liabilities$39,894
Net Assets$2,395,735

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2014: $152,512Expenses 2014: $229,255Net Income 2014: -$76,7432014Revenue 2015: $266,825Expenses 2015: $301,163Net Income 2015: -$34,3382015Revenue 2016: $269,562Expenses 2016: $300,646Net Income 2016: -$31,0842016Revenue 2017: $290,799Expenses 2017: $349,215Net Income 2017: -$58,4162017Revenue 2018: $287,678Expenses 2018: $350,692Net Income 2018: -$63,0142018Revenue 2019: $302,531Expenses 2019: $376,384Net Income 2019: -$73,8532019Revenue 2020: $305,022Expenses 2020: $400,402Net Income 2020: -$95,3802020Revenue 2021: $302,140Expenses 2021: $360,175Net Income 2021: -$58,0352021Revenue 2022: $335,078Expenses 2022: $389,560Net Income 2022: -$54,4822022Revenue 2023: $359,657Expenses 2023: $419,166Net Income 2023: -$59,5092023Revenue 2024: $370,053Expenses 2024: $425,218Net Income 2024: -$55,1652024Revenue 2025: $390,499Expenses 2025: $494,276Net Income 2025: -$103,7772025

Highlighted filing

2025

Revenue$390,499
Expenses$494,276
Net Income-$103,777

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 15, 2025
Return Version
2024v5.0
Gross Receipts
$390,499
Mission and Program Overview

Mission

To provide affordable housing for the elderly.

To provide low income affordable housing to elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,313,809$2,242,075▼ $71,734
Prepaid Expenses and Deferred Charges$56,152$53,448▼ $2,704
Cash and Non-Interest-Bearing Accounts$6,499$3,530▼ $2,969
Accounts Receivable-$5-
Total Assets$2,527,586$2,435,629▼ $91,957
Other Assets Total$151,126$136,571▼ $14,555
Liabilities
Accounts Payable and Accrued Expenses$13,517$25,018▲ $11,501
Other Liabilities$14,545$14,803▲ $258
Deferred Revenue$12$73▲ $61
Total Liabilities$28,074$39,894▲ $11,820
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,499,512$2,395,735▼ $103,777
Total Net Assets Fund Balance$2,499,512$2,395,735▼ $103,777
Total Liabilities and Net Assets / Fund Balance$2,527,586$2,435,629▼ $91,957

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,138,444$1,033,436$3,171,880
Land$100,000-$100,000
Other Assets Org$106--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$388,853
Investment Income
$1,646
Other Revenue
$0
Change in Net Assets
$-103,777

Audited Revenue Reconciliation

Revenue per Audited Statements
$390,499
Total Revenue per Audited Statements
$390,499
Total Revenue per Form 990
$390,499
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$402,049
Salaries, Compensation, and Employee Benefits$92,227
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$252,822--$252,822
Depreciation Depletion$81,201--$81,201
Other Salaries and Wages$77,339--$77,339
Fees for Services Management$15,487$23,227-$38,714
Office Expenses-$12,699-$12,699
Fees for Services Accounting-$12,030-$12,030
Other Employee Benefits$9,441--$9,441
Payroll Taxes$5,447--$5,447
Insurance$2,308--$2,308
Fees for Services Legal-$1,053-$1,053
Advertising-$807-$807
Conferences and Meetings$415--$415
Total Functional Expenses$444,460$49,816$0$494,276

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$494,276
Total Expenses per Audited Statements$494,276
Total Expenses per Form 990$494,276
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
Tenant Security Deposits$9,234
Accrued Wages Payable$3,769
Accrued Property Taxes$1,800
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The organization delegated day to day property management responsibilities to the management compnay, tesco properties, inc.

Form 990, Page 6, Part VI, Line 11B

The form 990 was reviewed by the management company, tesco properties, inc., prior to signing and filing.

Form 990, Page 6, Part VI, Line 19

The organization has the governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Grace Place Retirement Community
EIN
27-0263021
Phone
9017591855
Address
4044 S BORDEAUX CREEK COVE, MEMPHIS, TN 38125

Signing Officer

Name
James Crusoe
Title
President
Phone
9017591855
Signed
2025-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Crusoe
Formed
2009
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
2

Preparer

Firm
Rowland & Carter Cpas Pllc
Address
7953 STAGE HILLS BLVD STE 110, MEMPHIS, TN 38133-4010
Preparer
Patrick H Blair
Phone
9014323000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DELEGATED DAY TO DAY PROPERTY MANAGEMENT RESPONSIBILITIES TO THE MANAGEMENT COMPNAY, TESCO PROPERTIES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WAS REVIEWED BY THE MANAGEMENT COMPANY, TESCO PROPERTIES, INC., PRIOR TO SIGNING AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES CRUSOE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09017591855
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRACE PLACE RETIREMENT COMMUNITY
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ReturnHeader/Filer/BusinessNameControlTxt0GRAC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621587083
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROWLAND & CARTER CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07953 STAGE HILLS BLVD STE 110
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ReturnHeader/PreparerPersonGrp/PhoneNum09014323000
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PATRICK H BLAIR
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-11-17T12:30:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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