Grace Foundation

Analysis

Grace Foundation is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 Foundation reported income of $235k and spending of $223k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $118k to $235k (+99%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 155%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grace Foundation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within MN. Charities of a similar size with the same main cause include Rockland Astronomy Club Inc ($235k), Charlotte Master Chorale Inc ($235k) and Chilimania Inc ($234k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 35% of the total. At year end it held assets of $847k against liabilities of $588k, net assets of $259k.