Grace Ministries of Durham North Carolina

Analysis

Grace Ministries of Durham North Carolina is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grace Ministries of Durham North Carolina reported income of $193k and spending of $195k, spending 101% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $120k to $193k (+61%), an average of +10% a year. The sharpest change came in the year to December 2020, when income rose by 434%. Over the whole period it spent 57% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Grace Ministries of Durham North Carolina sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include Q Ministry Project ($193k), Friends of Torah Academy South Africa Tasa Inc ($193k) and Rooted Oaks International ($193k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% of the total. Other salaries and wages came to $5,000. At year end it held assets of $2.2m against liabilities of $113k, net assets of $2.1m. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.