Civic Intelligence

The Grace Foundation

990 • Fiscal year 2022 • EIN 36-4793159

Jul 01, 2021 to Jun 30, 2022 • Filed on May 02, 2023

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

73rd percentile

0.26x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

84th percentile

0.67x

Higher debt load relative to revenue than 84% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

12th percentile

-27%

Higher net margin than 12% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

34th percentile

-3.4%

Faster asset growth than 34% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

9th percentile

-43%

Faster revenue growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$3,611,326

Down $126,672 (-3.4%) from 2021

Net Assets

Down

$2,656,232

Down $729,366 (-22%) from 2021

Liabilities

Up

$955,094

Up $602,694 (+171%) from 2021

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin12th percentile

Revenue

Down

$1,419,837

Down $1,065,296 (-43%) from 2021

Expenses

Up

$1,806,732

Up $1,219,837 (+208%) from 2021

Net Income

Down

-$386,895

Down $2,285,133 (-120%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth34th 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

2022

Assets$3,611,326
Liabilities$955,094
Net Assets$2,656,232
Open 2022 Filing

Operations Trend

Revenue Growth9th 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

2022

Revenue$1,419,837
Expenses$1,806,732
Net Income-$386,895
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 2, 2023
Return Version
2021v4.0
Gross Receipts
$1,690,894
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$2,199,946$3,288,392▲ $1,088,446
Investments Other Securities$231,137--
Cash and Non-Interest-Bearing Accounts$1,306,915$201,847▼ $1,105,068
Savings and Temporary Cash Investments-$121,087-
Total Assets$3,737,998$3,611,326▼ $126,672
Liabilities
Accounts Payable and Accrued Expenses$2,400$655,094▲ $652,694
Grants Payable$350,000$300,000▼ $50,000
Total Liabilities$352,400$955,094▲ $602,694
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,125,701$2,125,701→ $0
Net Assets Without Donor Restrictions$1,259,897$530,531▼ $729,366
Total Net Assets Fund Balance$3,385,598$2,656,232▼ $729,366
Total Liabilities and Net Assets / Fund Balance$3,737,998$3,611,326▼ $126,672

Endowment Activity

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

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,625,000
Program Service Revenue
$0
Investment Income
$-206,315
Other Revenue
$1,152
All Other Contributions
$1,625,000
Change in Net Assets
$-386,895

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,419,837
Revenue Not Reported on Form 990
$-342,471
Total Revenue per Audited Statements
$1,077,366
Total Revenue per Form 990
$1,419,837
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,795,200
Other Expenses$11,532
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,795,200--$1,795,200
Fees for Service Investment Mgmnt Fees$8,727--$8,727
Fees for Services Accounting$2,800--$2,800
Office Expenses$5--$5
Total Functional Expenses$1,806,732$0$0$1,806,732

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,806,732
Total Expenses per Audited Statements$1,806,732
Total Expenses per Form 990$1,806,732
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grace School of TheologyThe Woodlands, TX501(c)-$1,795,200
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
2023-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Romain
Formed
2014
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
David C Moja CPA
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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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03705 COLLEGE PARK DR STE 140
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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/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL LABRY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08774768674
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-02
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
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030453
ReturnHeader/PreparerPersonGrp/PhoneNum03212589907
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVE MOJA
ReturnHeader/ReturnTs02023-05-15T09:35:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DANIEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LABRY
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,611,326
Liabilities
$955,094
Net assets
$2,656,232
Revenue
$1,419,837
Expenses
$1,806,732
Net income
-$386,895
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
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