Grace Project Incorporated

Analysis

Grace Project Incorporated is a registered charity in United States, based in Union, NJ. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grace Project Incorporated reported income of $80k and spending of $74k, spending 93% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $85k to $80k (-6.1%), an average of -6.1% a year. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Grace Project Incorporated sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 39th percentile within NJ. Charities of a similar size with the same main cause include Aledo Main Street Inc ($80k), Angelic Assistance Community Care ($80k) and Westmoreland Diversity Coalition ($80k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $38k against liabilities of $0, net assets of $38k.