Civic Intelligence

The Grace Foundation

990 • Fiscal year 2023 • EIN 36-4793159

Jul 01, 2022 to Jun 30, 2023 • Filed on May 12, 2024

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

78th percentile

0.35x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

0.75x

Higher debt load relative to revenue than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

12th percentile

-27%

Higher net margin than 12% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

20th percentile

-5.2%

Faster asset growth than 20% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

61st percentile

14%

Faster revenue growth than 61% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$3,424,194

Down $187,132 (-5.2%) from 2022

Net Assets

Down

$2,213,233

Down $442,999 (-17%) from 2022

Liabilities

Up

$1,210,961

Up $255,867 (+27%) from 2022

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin12th percentile

Revenue

Up

$1,621,609

Up $201,772 (+14%) from 2022

Expenses

Up

$2,064,608

Up $257,876 (+14%) from 2022

Net Income

Down

-$442,999

Down $56,104 (-15%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2023

Assets$3,424,194
Liabilities$1,210,961
Net Assets$2,213,233
Open 2023 Filing

Operations Trend

Revenue Growth61st 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

2023

Revenue$1,621,609
Expenses$2,064,608
Net Income-$442,999
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 12, 2024
Return Version
2022v5.0
Gross Receipts
$1,621,609
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$3,288,392$2,976,173▼ $312,219
Savings and Temporary Cash Investments$121,087$365,287▲ $244,200
Cash and Non-Interest-Bearing Accounts$201,847$82,734▼ $119,113
Total Assets$3,611,326$3,424,194▼ $187,132
Liabilities
Accounts Payable and Accrued Expenses$655,094$660,961▲ $5,867
Grants Payable$300,000$550,000▲ $250,000
Total Liabilities$955,094$1,210,961▲ $255,867
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,125,701$2,125,701→ $0
Net Assets Without Donor Restrictions$530,531$87,532▼ $442,999
Total Net Assets Fund Balance$2,656,232$2,213,233▼ $442,999
Total Liabilities and Net Assets / Fund Balance$3,611,326$3,424,194▼ $187,132

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,203,893---$2,203,893
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
John RomainPresident
David AndersonTrustee
John AllisonTrustee
Mark AlbersTrustee
Scott McewenTrustee
Tom GardnerTrustee
Clint DixonSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$1,200,000
Program Service Revenue
$0
Investment Income
$421,609
Other Revenue
$0
All Other Contributions
$1,200,000
Change in Net Assets
$-442,999

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,621,609
Total Revenue per Audited Statements
$1,621,609
Total Revenue per Form 990
$1,621,609
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,050,000
Other Expenses$14,608
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,050,000--$2,050,000
Fees for Service Investment Mgmnt Fees$14,608--$14,608
Total Functional Expenses$2,064,608$0$0$2,064,608

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,064,608
Total Expenses per Audited Statements$2,064,608
Total Expenses per Form 990$2,064,608
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grace School of TheologyThe Woodlands, TX501(c)-$2,050,000
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
Clint Dixon
Title
Secretary/treasurer
Phone
8774768674
Signed
2024-05-12
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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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
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,424,194
Liabilities
$1,210,961
Net assets
$2,213,233
Revenue
$1,621,609
Expenses
$2,064,608
Net income
-$442,999
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