Civic Intelligence

Grace Place Retirement Community Inc.

990 • Fiscal year 2019 • EIN 27-0263021

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 02, 2019

Organization Profile
4044 S Bordeaux Creek CoveMemphis, TN 38125

(615) 259-4332

Siviq Scores

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

Liabilities / Assets

29th percentile

0.01x

Higher debt load relative to assets than 29% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.12x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

11th percentile

-24%

Higher net margin than 11% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

30th percentile

-2.2%

Faster asset growth than 30% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

53rd percentile

5.2%

Faster revenue growth than 53% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$2,863,021

Down $63,930 (-2.2%) from 2018

Net Assets

Down

$2,827,175

Down $73,853 (-2.5%) from 2018

Liabilities

Up

$35,846

Up $9,923 (+38%) from 2018

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin11th percentile

Revenue

Up

$302,531

Up $14,853 (+5.2%) from 2018

Expenses

Up

$376,384

Up $25,692 (+7.3%) from 2018

Net Income

Down

-$73,853

Down $10,839 (-17%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$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

2019

Assets$2,863,021
Liabilities$35,846
Net Assets$2,827,175
Open 2019 Filing

Operations Trend

Revenue Growth53rd percentile

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$302,531
Expenses$376,384
Net Income-$73,853
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 2, 2019
Return Version
2018v3.1
Gross Receipts
$302,531
Mission and Program Overview

Mission

To provide affordable housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,789,048$2,704,890▼ $84,158
Cash and Non-Interest-Bearing Accounts$17,290$28,668▲ $11,378
Prepaid Expenses and Deferred Charges$811$811→ $0
Accounts Receivable-$11-
Total Assets$2,926,951$2,863,021▼ $63,930
Other Assets Total$119,802$128,641▲ $8,839
Liabilities
Accounts Payable and Accrued Expenses$17,867$27,583▲ $9,716
Other Liabilities$8,056$8,263▲ $207
Total Liabilities$25,923$35,846▲ $9,923
Net Assets / Fund Balance
Unrestricted Net Assets$2,901,028$2,827,175▼ $73,853
Total Net Assets Fund Balance$2,901,028$2,827,175▼ $73,853
Total Liabilities and Net Assets / Fund Balance$2,926,951$2,863,021▼ $63,930

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,599,423$551,390$3,150,813
Land$100,000-$100,000
Other Land Buildings$1,796$20,867$22,663
Equipment$3,671$5,424$9,095
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
James CrusoePresident
Greg CuffreyMember
Rebekah CrusoeMember
Vincent BakerMember
Whitney Moore-YoungMember
Laquita R StokesSecretary
Charles Carpenter JrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$300,253
Investment Income
$168
Other Revenue
$2,110
Change in Net Assets
$-73,853

Audited Revenue Reconciliation

Revenue per Audited Statements
$302,531
Total Revenue per Audited Statements
$302,531
Total Revenue per Form 990
$302,531
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$376,384
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$84,158--$84,158
Other Expenses$43,572--$43,572
Total Functional Expenses$376,384$0$0$376,384

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$376,384
Total Expenses per Audited Statements$376,384
Total Expenses per Form 990$376,384
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
Federal income taxes$8,263
Tenant Security Liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section C, Line 19

“The finanical are electronically submitted to HUD. All related parties who would like to receive a copy of the financial may request it. A copy will be provided upon request.”

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

“The board members are required to complete a conflict of interest form each year. If a conflict of interest occurs the board is notified immediately.”

Form 990, Part VII, Section C, Line 11

“The company has a written retension and destruction policy.”

Filing and Contact Details

Filer

Filer Name
Grace Place Retirement Community Inc
EIN
27-0263021
Phone
6152594332
Address
4044 S Bordeaux Creek Cove, Memphis, TN 38125

Signing Officer

Name
James Crusoe
Title
President
Signed
2019-10-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Grace Place Retirement Community
Formed
2009
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
3

Preparer

Firm
Foster Ballard Foster
Address
P O Box 871089, Stone Mountain, GA 30087
Preparer
Peggy L Ballard CPA
Phone
4042546213
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Section B, Line 11A

“The IRS form 990 is given to the Management Agent for review. The form 8879-EO is signed and returned to me as an indication that the return was reveiwed and approved.”

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IRS990ScheduleA/PublicSupportPY170Pct00.99880
IRS990ScheduleA/PublicSupportTotal170Amt01415635
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0300253
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0287413
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0290028
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0269168
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0268773
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01415635
IRS990ScheduleA/TotalSupportAmt01419360
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02599423
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0551390
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03150813
IRS990ScheduleD/EquipmentGrp/BookValueAmt03671
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05424
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09095
IRS990ScheduleD/ExpensesSubtotalAmt0376384
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0100000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0100000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01796
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt020867
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt022663
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08263
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Liability
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0302531
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02704890
IRS990ScheduleD/TotalExpensesPerForm990Amt0376384
IRS990ScheduleD/TotalLiabilityAmt08263
IRS990ScheduleD/TotalRevenuePerForm990Amt0302531
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0302531
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0376384
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The IRS form 990 is given to the Management Agent for review. The form 8879-EO is signed and returned to me as an indication that the return was reveiwed and approved.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The finanical are electronically submitted to HUD. All related parties who would like to receive a copy of the financial may request it. A copy will be provided upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board members are required to complete a conflict of interest form each year. If a conflict of interest occurs the board is notified immediately.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The company has a written retension and destruction policy.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part IV, Section B, Line 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 12A 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VII, Section C, Line 11
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02926951
IRS990/TotalAssetsEOYAmt02863021
IRS990/TotalAssetsGrp/BOYAmt02926951
IRS990/TotalAssetsGrp/EOYAmt02863021
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0376384
IRS990/TotalFunctionalExpensesGrp/TotalAmt0376384
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt025923
IRS990/TotalLiabilitiesEOYAmt035846
IRS990/TotalLiabilitiesGrp/BOYAmt025923
IRS990/TotalLiabilitiesGrp/EOYAmt035846
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02901028
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02827175
IRS990/TotalProgramServiceExpensesAmt0376384
IRS990/TotalProgramServiceRevenueAmt0300253
IRS990/TotalRevenueGrp/ExclusionAmt0300253
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02278
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0302531
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02926951
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02863021
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02901028
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02827175
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04044 S Bordeaux Creek Cove
IRS990/USAddress/CityNm0Memphis
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038125
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0James Crusoe
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Grace Place Retirement Community Inc
ReturnHeader/Filer/BusinessNameControlTxt0GRAC
ReturnHeader/Filer/EIN0270263021
ReturnHeader/Filer/PhoneNum06152594332
ReturnHeader/Filer/USAddress/AddressLine1Txt04044 S Bordeaux Creek Cove
ReturnHeader/Filer/USAddress/CityNm0Memphis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038125
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CF232C2034E477F1FAA239E86BD95CE388D5A533
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CF232C2034E477F1FAA239E86BD95CE388D5A533
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt073.184.151.106
ReturnHeader/FilingSecurityInformation/IPDt02019-10-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm021:25:13
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Foster Ballard Foster
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O Box 871089
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Stone Mountain
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030087
ReturnHeader/PreparerPersonGrp/PhoneNum04042546213
ReturnHeader/PreparerPersonGrp/PreparationDt02019-10-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Peggy L Ballard CPA
ReturnHeader/ReturnTs02019-10-04T01:15:42-00:00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,863,021
Liabilities
$35,846
Net assets
$2,827,175
Revenue
$302,531
Expenses
$376,384
Net income
-$73,853
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$0.04$2.40$0.39$0.49$0.10
2024Detailed filing. Detailed filing data is available for this year.$2.53$0.03$2.50$0.37$0.43$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.59$0.03$2.55$0.36$0.42$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.65$0.03$2.61$0.34$0.39$0.05
2021Detailed filing. Detailed filing data is available for this year.$2.71$0.03$2.67$0.30$0.36$0.06
2020Detailed filing. Detailed filing data is available for this year.$2.77$0.04$2.73$0.31$0.40$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.86$0.04$2.83$0.30$0.38$0.07
2018Detailed filing. Detailed filing data is available for this year.$2.93$0.03$2.90$0.29$0.35$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.98$0.02$2.97$0.29$0.35$0.06
2016Detailed filing. Detailed filing data is available for this year.$3.05$0.03$3.02$0.27$0.30$0.03
2015Detailed filing. Detailed filing data is available for this year.$3.14$0.04$3.09$0.27$0.30$0.03
2014Detailed filing. Detailed filing data is available for this year.$3.16$3.30$0.14$0.15$0.23$0.08