Grace and Truth Community Development Corporation

Analysis

Grace and Truth Community Development Corporation is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in July 2005, 21 years ago. 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 September 2022, Grace and Truth Community Development Corporation reported income of $238k and spending of $346k, spending 145% of what it took in. Across the 4 years on record, from September 2019 to September 2022, income fell from $518k to $238k (-54%), an average of -23% a year. The sharpest change came in the year to September 2021, when income dropped by 49%. Over the whole period it spent 172% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grace and Truth Community Development Corporation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 60th percentile within FL. Charities of a similar size with the same main cause include United Way of the Great River Region ($238k), Utah Council of the Blind ($238k) and Hills Christian School Society ($238k).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 66% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $92k (27% of expenses). Other salaries and wages came to $17k. At year end it held assets of $746k against liabilities of $1.9m, net assets of -$1.1m. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.