Civic Intelligence

Grace and Truth Community Development Corporation Inc

990 • Fiscal year 2021 • EIN 33-1020194

Oct 01, 2020 to Sep 30, 2021 • Filed on Oct 10, 2022

Organization Profilewww.graceandtruth.org
932 North Shore DriveJacksonville, FL 32208

(904) 338-9990

Siviq Scores

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

Liabilities / Assets

96th percentile

1.37x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

99th percentile

18.21x

Higher debt load relative to revenue than 99% of similar nonprofits.

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

Net Margin

3rd percentile

-101%

Higher net margin than 3% of similar nonprofits.

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

Top Officer Pay

49th percentile

$53,868

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 30.0% of source-year revenue.

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

Asset Growth

48th percentile

8.2%

Faster asset growth than 48% of similar nonprofits.

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

Revenue Growth

5th percentile

-49%

Faster revenue growth than 5% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$2,397,447

Up $181,266 (+8.2%) from 2020

Net Assets

Down

-$876,268

Down $181,891 (-26%) from 2020

Liabilities

Up

$3,273,715

Up $363,157 (+12%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Down

$179,740

Down $173,826 (-49%) from 2020

Expenses

Down

$361,631

Down $93,071 (-20%) from 2020

Net Income

Down

-$181,891

Down $80,755 (-80%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2013: $1,831,771Liabilities 2013: $724,998Net Assets 2013: $1,106,7732013Assets 2014: $2,142,272Liabilities 2014: $911,614Net Assets 2014: $1,230,6582014Assets 2016: $2,036,304Liabilities 2016: $1,038,614Net Assets 2016: $997,6902016Assets 2018: $2,495,262Liabilities 2018: $2,131,638Net Assets 2018: $363,6242018Assets 2020: $2,216,181Liabilities 2020: $2,910,558Net Assets 2020: -$694,3772020Assets 2021: $2,397,447Liabilities 2021: $3,273,715Net Assets 2021: -$876,2682021Assets 2022: $745,591Liabilities 2022: $1,855,244Net Assets 2022: -$1,109,6532022

Highlighted filing

2021

Assets$2,397,447
Liabilities$3,273,715
Net Assets-$876,268
Open 2021 Filing

Operations Trend

Revenue Growth5th percentile

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

$1.0M$500K$0-$500KExpenses 2013: $532,4012013Revenue 2014: $465,965Expenses 2014: $342,080Net Income 2014: $123,8852014Revenue 2016: $10,952Expenses 2016: $259,045Net Income 2016: -$248,0932016Revenue 2018: $580,002Expenses 2018: $625,080Net Income 2018: -$45,0782018Revenue 2020: $353,566Expenses 2020: $454,702Net Income 2020: -$101,1362020Revenue 2021: $179,740Expenses 2021: $361,631Net Income 2021: -$181,8912021Revenue 2022: $238,219Expenses 2022: $346,001Net Income 2022: -$107,7822022

Highlighted filing

2021

Revenue$179,740
Expenses$361,631
Net Income-$181,891
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Oct 10, 2022
Return Version
2020v4.0
Gross Receipts
$190,720
Mission and Program Overview

Mission

To develop affordable housing to offer for sale and/or rental occupancy to low & moderate income people living in the northwest area of Jacksonville Florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$819,717$1,020,177▲ $200,460
Land, Buildings, and Equipment, Net$579,184$553,670▼ $25,514
Cash and Non-Interest-Bearing Accounts$11,045$19,272▲ $8,227
Prepaid Expenses and Deferred Charges$12,361$10,766▼ $1,595
Loans From Officers Directors$6,911$6,911→ $0
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$2,216,181$2,397,447▲ $181,266
Other Assets Total$793,874$793,562▼ $312
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,628,950$2,979,986▲ $351,036
Accounts Payable and Accrued Expenses$234,839$245,192▲ $10,353
Other Liabilities$39,858$41,626▲ $1,768
Total Liabilities$2,910,558$3,273,715▲ $363,157
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-694,377$-876,268▼ $181,891
Total Net Assets Fund Balance$-694,377$-876,268▼ $181,891
Total Liabilities and Net Assets / Fund Balance$2,216,181$2,397,447▲ $181,266

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$488,234$139,404$627,638
Land$57,427-$57,427
Other Land Buildings$8,009$40,062$48,071
Equipment-$36,293$36,293
Other Assets Org$955--
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bishop Eugene M JohnsonCEOPT$53,868$53,868

Board Members and Trustees

NameTitle
Ellis Maduaka-CainChairman
Joun LasswellMember
Sheila PressleyMember
Cassandra PersonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$89,748
Program Service Revenue
$80,423
Investment Income
$6
Other Revenue
$9,563
All Other Contributions
$61,908
Change in Net Assets
$-181,891
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$276,682
Salaries, Compensation, and Employee Benefits$84,949
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$123,490--$123,490
Current Officers, Directors, Trustees, and Key Employees$45,788$8,080-$53,868
Insurance$22,774$4,019-$26,793
Depreciation Depletion$25,514--$25,514
Other Salaries and Wages$21,505$3,795-$25,300
All Other Expenses$13,622$544-$14,166
Occupancy$10,096$1,782-$11,878
Fees for Services Accounting-$9,014-$9,014
Other Expenses$8,073$932-$9,005
Payroll Taxes$4,914$867-$5,781
Travel$2,987$527-$3,514
Office Expenses$1,342$237-$1,579
Advertising$269$47-$316
Total Functional Expenses$331,787$29,844$0$361,631
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$6,911$6,911→ $0
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Conditional Contribution$22,403
Security deposits$19,223
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Board of directors review return with executive director prior to filing.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

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

“After completion of the financial audit, the CPA prepares the form 990 for review and forwards to the president/executive director. Each board member is provided access to the form 990 for review and approval prior to filing. The form 990 is also mafe available online. Form 990, Patr Vi, Section B, Line 19: All governing documents (e.g. Bylaws, Conflict of interest, whistle blowing policy statement, ect.) are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Grace and Truth Community Development
EIN
33-1020194
Phone
9043389990
Address
932 North Shore Drive, Jacksonville, FL 32208

Signing Officer

Name
Bishop Eugene M Johnson
Title
CEO
Signed
2022-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bishop Eugene M Johnson
Formed
2001
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
2

Preparer

Firm
Howard & Company Cpas Pa
Address
4745 SUTTON PARK COURT STE 102, JACKSONVILLE, FL 32224
Preparer
John W Howard CPA
Phone
9044210690
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization adopted "Accounting for Uncertainty in Income Taxes". Professional standards prescribe a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on various related matters such as derecognition, interest, penalties and disclosure required. Grace and Truth Community Development Corporation is subject to taxation in the United States and the tax years 2018, 2019, and 2020 are subject to examination by tax authorities.”

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IRS990/PYOtherRevenueAmt045527
IRS990/PYProgramServiceRevenueAmt051285
IRS990/PYRevenuesLessExpensesAmt0-101136
IRS990/PYSalariesCompEmpBnftPaidAmt075007
IRS990/PYTotalExpensesAmt0454702
IRS990/PYTotalRevenueAmt0353566
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-181891
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt089748
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0263596
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0533978
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0501077
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0210225
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01598624
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt06
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt071228
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt067114
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt071228
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0260861
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.79960
IRS990ScheduleA/PublicSupportPY170Pct00.76950
IRS990ScheduleA/PublicSupportTotal170Amt01598624
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt089748
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0263596
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0533978
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0501077
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0210225
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01598624
IRS990ScheduleA/TotalSupportAmt01999241
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt08958
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus1YearAmt038685
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus2YearsAmt010136
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt062920
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus4YearsAmt019057
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt0139756
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0488234
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0139404
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0627638
IRS990ScheduleD/EquipmentGrp/DepreciationAmt036293
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt036293
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt057427
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt057427
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0792607
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1955
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Construction in progress
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Deposits
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt08009
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt040062
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048071
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt022403
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt119223
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Conditional Contribution
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Security deposits
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization adopted "Accounting for Uncertainty in Income Taxes". Professional standards prescribe a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on various related matters such as derecognition, interest, penalties and disclosure required. Grace and Truth Community Development Corporation is subject to taxation in the United States and the tax years 2018, 2019, and 2020 are subject to examination by tax authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0553670
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0793562
IRS990ScheduleD/TotalLiabilityAmt041626
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Working Cap
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt06911
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Bishop Johnson
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0President
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0false
IRS990ScheduleL/TotalBalanceDueAmt06911
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board of directors review return with executive director prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2After completion of the financial audit, the CPA prepares the form 990 for review and forwards to the president/executive director. Each board member is provided access to the form 990 for review and approval prior to filing. The form 990 is also mafe available online. Form 990, Patr Vi, Section B, Line 19: All governing documents (e.g. Bylaws, Conflict of interest, whistle blowing policy statement, ect.) are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 Part VI, Section B, Line 11a:
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02216181
IRS990/TotalAssetsEOYAmt02397447
IRS990/TotalAssetsGrp/BOYAmt02216181
IRS990/TotalAssetsGrp/EOYAmt02397447
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt089748
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt029844
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0331787
IRS990/TotalFunctionalExpensesGrp/TotalAmt0361631
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02910558
IRS990/TotalLiabilitiesEOYAmt03273715
IRS990/TotalLiabilitiesGrp/BOYAmt02910558
IRS990/TotalLiabilitiesGrp/EOYAmt03273715
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-694377

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,397,447
Liabilities
$3,273,715
Net assets
-$876,268
Revenue
$179,740
Expenses
$361,631
Net income
-$181,891
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$1.86$1.11$0.24$0.35$0.11
2021Detailed filing. Detailed filing data is available for this year.$2.40$3.27$0.88$0.18$0.36$0.18
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.22$2.91$0.69$0.35$0.45$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.50$2.13$0.36$0.58$0.63$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.04$1.04$1.00$0.01$0.26$0.25
2014Detailed filing. Detailed filing data is available for this year.$2.14$0.91$1.23$0.47$0.34$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$0.72$1.11$0.53