Grace Centers of Hope

Analysis

Grace Centers of Hope is a registered charity in United States, based in Pontiac, MI. It received its IRS tax-exemption ruling in May 1946, 80 years ago. 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 October 2023, Grace Centers of Hope reported income of $10.6m and spending of $11.2m, spending 106% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income grew from $7.8m to $10.6m (+35%), an average of +7.8% a year. The sharpest change came in the year to October 2022, when income rose by 25%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grace Centers of Hope sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include Wichita Falls Retirement Foundation ($10.6m), Park Nicollet Foundation ($10.6m) and Ucp Bayville Incorporated ($10.5m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $243k (2.2% of expenses). Other salaries and wages came to $4.0m. It paid $307k in professional fundraising fees. At year end it held assets of $10.7m against liabilities of $1.9m, net assets of $8.8m. It reported 174 employees.