Civic Intelligence

Grace Place Retirement Community Inc.

990 • Fiscal year 2020 • EIN 27-0263021

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 15, 2020

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

28th percentile

0.01x

Higher debt load relative to assets than 28% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

46th percentile

0.12x

Higher debt load relative to revenue than 46% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

11th percentile

-31%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

19th percentile

-3.3%

Faster asset growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

50th percentile

0.8%

Faster revenue growth than 50% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets28th percentile

Assets

Down

$2,767,932

Down $95,089 (-3.3%) from 2019

Net Assets

Down

$2,732,334

Down $94,841 (-3.4%) from 2019

Liabilities

Down

$35,598

Down $248 (-0.7%) from 2019

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin11th percentile

Revenue

Up

$305,022

Up $2,491 (+0.8%) from 2019

Expenses

Up

$400,402

Up $24,018 (+6.4%) from 2019

Net Income

Down

-$95,380

Down $21,527 (-29%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth19th 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

2020

Assets$2,767,932
Liabilities$35,598
Net Assets$2,732,334
Open 2020 Filing

Operations Trend

Revenue Growth50th 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

2020

Revenue$305,022
Expenses$400,402
Net Income-$95,380
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$305,022
Mission and Program Overview

Mission

To provide affordable housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,704,890$2,622,681▼ $82,209
Prepaid Expenses and Deferred Charges$811$23,431▲ $22,620
Cash and Non-Interest-Bearing Accounts$28,668$4,003▼ $24,665
Accounts Receivable$11--
Total Assets$2,863,021$2,767,932▼ $95,089
Other Assets Total$128,641$117,817▼ $10,824
Liabilities
Accounts Payable and Accrued Expenses$27,583$27,167▼ $416
Other Liabilities$8,263$8,431▲ $168
Total Liabilities$35,846$35,598▼ $248
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,827,175$2,732,334▼ $94,841
Total Net Assets Fund Balance$2,827,175$2,732,334▼ $94,841
Total Liabilities and Net Assets / Fund Balance$2,863,021$2,767,932▼ $95,089

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,520,653$630,160$3,150,813
Land$100,000-$100,000
Other Land Buildings-$22,663$22,663
Equipment$2,028$7,067$9,095
Compensation and Service Providers
Top Officer Pay37th 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
$303,105
Investment Income
$152
Other Revenue
$1,765
Change in Net Assets
$-95,380

Audited Revenue Reconciliation

Revenue per Audited Statements
$305,022
Total Revenue per Audited Statements
$305,022
Total Revenue per Form 990
$305,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$400,402
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$82,209--$82,209
Other Expenses$56,943--$56,943
Total Functional Expenses$400,402$0$0$400,402

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$400,402
Total Expenses per Audited Statements$400,402
Total Expenses per Form 990$400,402
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$8,431
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, 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.”

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 VI, 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
Managent Agent
Title
Management Agent
Signed
2020-11-15
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
4

Preparer

Firm
Foster Ballard Foster
Address
P O Box 871089, Stone Mountain, GA 30087
Preparer
Peggy L Ballard CPA
Phone
4042546213
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0733
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0367
IRS990ScheduleA/OtherIncome170Grp/TotalAmt05175
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99610
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportPY170Pct00.99740
IRS990ScheduleA/PublicSupportTotal170Amt01449967
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0303105
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0300253
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0287413
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0290028
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0269168
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01449967
IRS990ScheduleA/TotalSupportAmt01455593
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02520653
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0630160
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03150813
IRS990ScheduleD/EquipmentGrp/BookValueAmt02028
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07067
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09095
IRS990ScheduleD/ExpensesSubtotalAmt0400402
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0100000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0100000
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt022663
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt022663
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08431
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/RevenueSubtotalAmt0305022
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02622681
IRS990ScheduleD/TotalExpensesPerForm990Amt0400402
IRS990ScheduleD/TotalLiabilityAmt08431
IRS990ScheduleD/TotalRevenuePerForm990Amt0305022
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0305022
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0400402
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 VI, 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 VI, Section C, Line 11
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02863021
IRS990/TotalAssetsEOYAmt02767932
IRS990/TotalAssetsGrp/BOYAmt02863021
IRS990/TotalAssetsGrp/EOYAmt02767932
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0400402
IRS990/TotalFunctionalExpensesGrp/TotalAmt0400402
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035846
IRS990/TotalLiabilitiesEOYAmt035598
IRS990/TotalLiabilitiesGrp/BOYAmt035846
IRS990/TotalLiabilitiesGrp/EOYAmt035598
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02827175
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02732334
IRS990/TotalProgramServiceExpensesAmt0400402
IRS990/TotalProgramServiceRevenueAmt0303105
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0305022
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0305022
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02863021
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02767932
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Managent Agent
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Management Agent
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-15
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/IPv4AddressTxt092.119.17.58
ReturnHeader/FilingSecurityInformation/IPDt02020-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm015:26:17
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/PreparationDt02020-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Peggy L Ballard CPA
ReturnHeader/ReturnTs02020-11-15T07:36:06-00:00

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,767,932
Liabilities
$35,598
Net assets
$2,732,334
Revenue
$305,022
Expenses
$400,402
Net income
-$95,380
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