Grace Association of Schools Inc

Analysis

Grace Association of Schools Inc is a registered charity in United States, based in Channahon, IL. It received its IRS tax-exemption ruling in December 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Grace Association of Schools Inc reported income of $2.5m and spending of $2.7m, spending 107% of what it took in. Across the 4 years on record, from July 2020 to July 2023, income grew from $843k to $2.5m (+200%), an average of +44% a year. The sharpest change came in the year to July 2023, when income rose by 63%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Grace Association of Schools Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within IL. Charities of a similar size with the same main cause include Rocky Point Charter School ($2.5m), Lincoln International Charterschool ($2.5m) and Seek Ye First Ministries Inc ($2.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Other salaries and wages came to $1.7m. At year end it held assets of $1.7m against liabilities of $1.2m, net assets of $536k.