Graceway Ministries

Analysis

Graceway Ministries is a registered charity in United States, based in Christiansbrg, VA. It received its IRS tax-exemption ruling in June 2011, 15 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Graceway Ministries reported income of $1.8m and spending of $2.0m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.8m (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Graceway Ministries sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within VA. Charities of a similar size with the same main cause include Furnish Hope ($1.8m), Hospice ($1.8m) and Philadelphia Little Flyers ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $91k (4.6% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $4.2m against liabilities of $3.4m, net assets of $835k. It reported 111 employees.