Gracewood Inc

Analysis

Gracewood Inc is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in January 2002, 24 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 December 2023, Gracewood Inc reported income of $2.9m and spending of $5.7m, spending 200% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $2.9m (+184%), an average of +30% a year. The sharpest change came in the year to December 2022, when income rose by 76%. Over the whole period it spent 140% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gracewood Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within TX. Charities of a similar size with the same main cause include L Arche Jacksonville Inc ($2.9m), Stephens Place ($2.9m) and The Partnership to End Homelessness Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $138k (2.4% of expenses). Other salaries and wages came to $456k. At year end it held assets of $3.1m against liabilities of $146k, net assets of $3.0m. It reported 14 employees.