Grace Terrace Memorial Association

Analysis

Grace Terrace Memorial Association is a registered charity in United States, based in Cerritos, CA. It received its IRS tax-exemption ruling in October 2001, 25 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grace Terrace Memorial Association reported income of $579k and spending of $357k, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $265k to $579k (+118%), an average of +22% a year. The sharpest change came in the year to December 2020, when income rose by 81%. Over the whole period it spent 56% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grace Terrace Memorial Association sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 74th percentile within CA. Charities of a similar size with the same main cause include Wesley Homes Inc ($579k), Sleeping Giant Day Care Inc ($579k) and Gary Bowlin Evangelistic Association Inc ($579k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 91% of the total. Compensation of current officers, directors and key employees was $30k (8.4% of expenses). Other salaries and wages came to $56k. At year end it held assets of $5.7m against liabilities of $553k, net assets of $5.1m. It reported 3 employees.