Grace Evangelical Inc

Analysis

Grace Evangelical Inc is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Grace Evangelical Inc reported income of $400k and spending of $215k, leaving 46% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $114k to $400k (+252%), an average of +52% a year. The sharpest change came in the year to June 2021, when income rose by 61%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Grace Evangelical Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 62nd percentile within ME. Charities of a similar size with the same main cause include Edhec America Inc ($400k), Tutoring Cafe ($400k) and Carthage R-9 School Foundation ($400k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $30k (14% of expenses). Other salaries and wages came to $86k. At year end it held assets of $735k against liabilities of $2,294, net assets of $732k. It reported 20 employees.