Grace House of Itasca County

Analysis

Grace House of Itasca County is a registered charity in United States, based in Grand Rapids, MN. It received its IRS tax-exemption ruling in April 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grace House of Itasca County reported income of $617k and spending of $599k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $304k to $617k (+103%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 42%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Grace House of Itasca County sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MN. Charities of a similar size with the same main cause include Big Valley Thrift & Gift Shop ($617k), One Hundred Angels ($617k) and Oregon Area Food Pantry Inc ($616k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $75k (13% of expenses). Other salaries and wages came to $178k. At year end it held assets of $954k against liabilities of $0, net assets of $954k. It reported 9 employees.