Grace Place Retirement Community Inc

Analysis

Grace Place Retirement Community Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Grace Place Retirement Community Inc reported income of $370k and spending of $425k, spending 115% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $305k to $370k (+21%), an average of +5.0% a year. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grace Place Retirement Community Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within TN. Charities of a similar size with the same main cause include 32 Byers Street Inc ($370k), Open Arms Shelter ($370k) and Northwest Chicago Group Homes Inc ($370k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Other salaries and wages came to $76k. At year end it held assets of $2.5m against liabilities of $28k, net assets of $2.5m. It reported 2 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.