Civic Intelligence

The Grace Foundation

990 • Fiscal year 2021 • EIN 36-4793159

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

Organization ProfileN/A
3705 College Park Drive 140The Woodlands, TX 77384-4894

(877) 476-8674

Siviq Scores

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

Liabilities / Assets

55th percentile

0.09x

Higher debt load relative to assets than 55% of similar nonprofits.

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

Liabilities / Revenue

58th percentile

0.14x

Higher debt load relative to revenue than 58% of similar nonprofits.

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

Net Margin

95th percentile

76%

Higher net margin than 95% of similar nonprofits.

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

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

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

Asset Growth

87th percentile

55%

Faster asset growth than 87% of similar nonprofits.

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

Revenue Growth

48th percentile

11%

Faster revenue growth than 48% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$3,737,998

Up $1,326,538 (+55%) from 2020

Net Assets

Up

$3,385,598

Up $1,898,238 (+128%) from 2020

Liabilities

Down

$352,400

Down $571,700 (-62%) from 2020

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin95th percentile

Revenue

Up

$2,485,133

Up $247,141 (+11%) from 2020

Expenses

Down

$586,895

Down $2,218,435 (-79%) from 2020

Net Income

Up

$1,898,238

Up $2,465,576 (+435%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2015: $2,635,868Liabilities 2015: $0Net Assets 2015: $2,635,8682015Assets 2016: $2,791,657Liabilities 2016: $0Net Assets 2016: $2,791,6572016Assets 2017: $3,600,577Liabilities 2017: $0Net Assets 2017: $3,600,5772017Assets 2019: $2,318,441Liabilities 2019: $0Net Assets 2019: $2,318,4412019Assets 2020: $2,411,460Liabilities 2020: $924,100Net Assets 2020: $1,487,3602020Assets 2021: $3,737,998Liabilities 2021: $352,400Net Assets 2021: $3,385,5982021Assets 2022: $3,611,326Liabilities 2022: $955,094Net Assets 2022: $2,656,2322022Assets 2023: $3,424,194Liabilities 2023: $1,210,961Net Assets 2023: $2,213,2332023Assets 2024: $2,923,609Liabilities 2024: $767,762Net Assets 2024: $2,155,8472024

Highlighted filing

2021

Assets$3,737,998
Liabilities$352,400
Net Assets$3,385,598
Open 2021 Filing

Operations Trend

Revenue Growth48th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2015: $3,159,692Expenses 2015: $506,028Net Income 2015: $2,653,6642015Revenue 2016: $2,773,278Expenses 2016: $2,517,490Net Income 2016: $255,7882016Revenue 2017: $2,667,747Expenses 2017: $2,075,534Net Income 2017: $592,2132017Revenue 2019: $2,227,549Expenses 2019: $3,345,348Net Income 2019: -$1,117,7992019Revenue 2020: $2,237,992Expenses 2020: $2,805,330Net Income 2020: -$567,3382020Revenue 2021: $2,485,133Expenses 2021: $586,895Net Income 2021: $1,898,2382021Revenue 2022: $1,419,837Expenses 2022: $1,806,732Net Income 2022: -$386,8952022Revenue 2023: $1,621,609Expenses 2023: $2,064,608Net Income 2023: -$442,9992023Revenue 2024: $1,568,550Expenses 2024: $1,920,299Net Income 2024: -$351,7492024

Highlighted filing

2021

Revenue$2,485,133
Expenses$586,895
Net Income$1,898,238
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.0
Gross Receipts
$2,485,133
Mission and Program Overview

Mission

The mission of The Grace Foundation is to financially support the ministry of Grace School of Theology in order to realize its vision- To develop spiritual leaders in every nation who can teach others about the love of Christ, a love that cannot be earned and cannot be lost.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,614,696$2,199,946▲ $585,250
Cash and Non-Interest-Bearing Accounts$599,114$1,306,915▲ $707,801
Investments Other Securities$197,650$231,137▲ $33,487
Total Assets$2,411,460$3,737,998▲ $1,326,538
Liabilities
Grants Payable$920,000$350,000▼ $570,000
Accounts Payable and Accrued Expenses$4,100$2,400▼ $1,700
Total Liabilities$924,100$352,400▼ $571,700
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,125,701$2,125,701→ $0
Net Assets Without Donor Restrictions$-638,341$1,259,897▲ $1,898,238
Total Net Assets Fund Balance$1,487,360$3,385,598▲ $1,898,238
Total Liabilities and Net Assets / Fund Balance$2,411,460$3,737,998▲ $1,326,538

Asset Categories

AssetBook ValueDepreciationBasis
Closely Held Equity Interests$231,137--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,203,893---$2,203,893
2017$2,051,189-▲ $152,704-$2,203,893
2016$1,790,903-▲ $260,286-$2,051,189
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Glen WaldenPresident/tr
David AndersonTrustee
John AllisonTrustee
John RomainTrustee
Mark AlbersTrustee
Scott McewenTrustee
Daniel LabrySecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$2,186,154
Program Service Revenue
$0
Investment Income
$298,979
Other Revenue
$0
All Other Contributions
$2,186,154
Change in Net Assets
$1,898,238

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded1$242,668
Total Noncash Contributions1$242,668

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,485,133
Total Revenue per Audited Statements
$2,485,133
Total Revenue per Form 990
$2,485,133
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$580,000
Other Expenses$6,895
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$580,000--$580,000
Fees for Service Investment Mgmnt Fees$4,495--$4,495
Fees for Services Accounting$2,400--$2,400
Total Functional Expenses$586,895$0$0$586,895

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$586,895
Total Expenses per Audited Statements$586,895
Total Expenses per Form 990$586,895
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grace School of TheologyThe Woodlands, TX501(c)-$580,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The form 990 is prepared by an outside cpa firm. Before filing the form 990 is reviewed by secretary/treasurer and president.”

Form 990, Page 6, Part VI, Line 12C

“Annual disclosure of conflict of interest is completed by each board member and officer. The organization's policy is a duty to disclose agreement to the board of directors before any transaction is proposed. All directors and officers must review their outside business or professional interests. Interests are reviewed by the board of directors to determine if such conflicts exist. If any financial interest regarding compensation is found from member, that member is precluded from voting on matters pertaining to that member's compensation.”

Form 990, Page 6, Part VI, Line 19

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
The Grace Foundation
EIN
36-4793159
Phone
8774768674
Address
3705 COLLEGE PARK DRIVE 140, THE WOODLANDS, TX 77384-4894

Signing Officer

Name
Daniel Labry
Title
Secretary/treasurer
Phone
8774768674
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Glen Walden
Formed
2014
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Moja & Company
Address
PO BOX 531, REIDSVILLE, GA 30453
Preparer
Dave Moja
Phone
3212589907
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the grace foundation is to financially support the ministry of grace school of theology in order to realize its vision- to develop spiritual leaders in every nation who can teach others about the love of christ, a love that cannot be earned and cannot be lost.”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“To support grace school of theology's higher education program services.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO SUPPORT GRACE SCHOOL OF THEOLOGY'S HIGHER EDUCATION PROGRAM SERVICES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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IRS990ScheduleD/TotalExpensesPerForm990Amt0586895
IRS990ScheduleD/TotalRevenuePerForm990Amt02485133
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)
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IRS990ScheduleI/RecipientTable/RecipientEIN0760690874
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03705 COLLEGE PARK DR STE 140
IRS990ScheduleI/RecipientTable/USAddress/CityNm0THE WOODLANDS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE GRACE FOUNDATION IS TO FINANCIALLY SUPPORT THE MINISTRY OF GRACE SCHOOL OF THEOLOGY IN ORDER TO REALIZE ITS VISION- TO DEVELOP SPIRITUAL LEADERS IN EVERY NATION WHO CAN TEACH OTHERS ABOUT THE LOVE OF CHRIST, A LOVE THAT CANNOT BE EARNED AND CANNOT BE LOST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM. BEFORE FILING THE FORM 990 IS REVIEWED BY SECRETARY/TREASURER AND PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL DISCLOSURE OF CONFLICT OF INTEREST IS COMPLETED BY EACH BOARD MEMBER AND OFFICER. THE ORGANIZATION'S POLICY IS A DUTY TO DISCLOSE AGREEMENT TO THE BOARD OF DIRECTORS BEFORE ANY TRANSACTION IS PROPOSED. ALL DIRECTORS AND OFFICERS MUST REVIEW THEIR OUTSIDE BUSINESS OR PROFESSIONAL INTERESTS. INTERESTS ARE REVIEWED BY THE BOARD OF DIRECTORS TO DETERMINE IF SUCH CONFLICTS EXIST. IF ANY FINANCIAL INTEREST REGARDING COMPENSATION IS FOUND FROM MEMBER, THAT MEMBER IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt02411460
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IRS990/TotalContributionsAmt02186154
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0586895
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0924100
IRS990/TotalLiabilitiesEOYAmt0352400
IRS990/TotalLiabilitiesGrp/BOYAmt0924100
IRS990/TotalLiabilitiesGrp/EOYAmt0352400
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03385598
IRS990/TotalProgramServiceExpensesAmt0586895
IRS990/TotalRevenueGrp/ExclusionAmt0298979
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02485133
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02411460
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03737998
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd0773844894
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL LABRY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08774768674
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE GRACE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GRAC
ReturnHeader/Filer/EIN0364793159
ReturnHeader/Filer/PhoneNum08774768674
ReturnHeader/Filer/USAddress/AddressLine1Txt03705 COLLEGE PARK DRIVE 140
ReturnHeader/Filer/USAddress/CityNm0THE WOODLANDS
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MOJA & COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 531
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0REIDSVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030453
ReturnHeader/PreparerPersonGrp/PhoneNum03212589907
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVE MOJA
ReturnHeader/ReturnTs02022-05-16T13:19:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DANIEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LABRY
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,737,998
Liabilities
$352,400
Net assets
$3,385,598
Revenue
$2,485,133
Expenses
$586,895
Net income
$1,898,238
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.92$0.77$2.16$1.57$1.92$0.35
2023Detailed filing. Detailed filing data is available for this year.$3.42$1.21$2.21$1.62$2.06$0.44
2022Detailed filing. Detailed filing data is available for this year.$3.61$0.96$2.66$1.42$1.81$0.39
2021Detailed filing. Detailed filing data is available for this year.$3.74$0.35$3.39$2.49$0.59$1.90
2020Detailed filing. Detailed filing data is available for this year.$2.41$0.92$1.49$2.24$2.81$0.57
2019Detailed filing. Detailed filing data is available for this year.$2.32$0.00$2.32$2.23$3.35$1.12
2017Detailed filing. Detailed filing data is available for this year.$3.60$0.00$3.60$2.67$2.08$0.59
2016Detailed filing. Detailed filing data is available for this year.$2.79$0.00$2.79$2.77$2.52$0.26
2015Detailed filing. Detailed filing data is available for this year.$2.64$0.00$2.64$3.16$0.51$2.65