Grace-Mar Services Inc

“Kenneth D Smith and Grace Smith are Husband and Wife.”

“Grace Mar Services Inc. is a nonprofit organization whose mission is to provide workforce development, small-business development, digital literacy training, fatherhood programs, and community-based support services that promote social and economic mobility for marginalized individuals and families. The organization operates multiple programs throughout North Carolina, partnering with state and local government agencies, community-based organizations, faith institutions, and employers to deliver comprehensive services.”

“The Board of Directors approved the Executive Director's annual salary of $40,000 in 2019. Since that time, the Executive Director's compensation has not increased. Although the organization has not conducted a formal compensation benchmarking review since the original approval, the Board determined the salary to be reasonable based on the organization's size, budget, and financial capacity at the time. The Board continues to review the organization's financial status annually and has maintained the Executive Director's compensation at the originally approved level due to limited funding and a commitment to ensuring program resources remain focused on community services.”

“Grace Mar Services Inc. makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Although these materials are not posted publicly online, the organization provides copies to any individual or entity that formally requests them, consistent with the organization's transparency practices. In addition, for several fee-for-service government contracts, the organization was required to submit governing documents and financial information as part of the contracting and compliance process. These submissions were provided directly to the contracting agencies in accordance with their requirements. The organization also makes its Form 990 available to the public upon request and complies with all federal public-disclosure requirements.”

“Part XI, Line 9 reflects other changes in net assets not included elsewhere in the return. These changes consist of routine year-end accounting adjustments necessary to reconcile the organization's records, including adjustments related to accruals, prior-period corrections, and reconciliation of beginning and ending balances. No unusual or non-recurring activities occurred that require additional disclosure beyond these standard accounting adjustments.”