Grace House Inc

Analysis

Grace House Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending June 2023, Grace House Inc reported income of $2.4m and spending of $2.5m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $2.4m (+13%), an average of +3.0% a year. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grace House Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MD. Charities of a similar size with the same main cause include Pasadena Livestock Show & Rodeo Association Inc ($2.4m), Northern Nevada Joint Apprentice & Training Comm for Elec Industry ($2.4m) and Student Advocacy Center of Michigan Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.4% and program service revenue 100% of the total. At year end it held assets of $3.9m against liabilities of $3.7m, net assets of $207k.

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.