Gracemont House Inc

Analysis

Gracemont House Inc is a registered charity in United States, based in Conroe, TX. It received its IRS tax-exemption ruling in April 2008, 18 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2024, Gracemont House Inc reported income of $102k and spending of $139k, spending 136% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $94k to $102k (+8.5%), an average of +2.1% a year. Over the whole period it spent 137% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gracemont House Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 40th percentile within TX. Charities of a similar size with the same main cause include Wolfe & Jackson Group Home Inc ($102k), Parker House Project ($102k) and Bridgeway Kewanee 04 NFP ($102k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 98% of the total. Other salaries and wages came to $21k. At year end it held assets of $1.1m against liabilities of $8,673, net assets of $1.1m. 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.