Grace Place

Analysis

Grace Place is a registered charity in United States, based in Winona, MN. It received its IRS tax-exemption ruling in February 1994, 32 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grace Place reported income of $278k and spending of $308k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $185k to $278k (+50%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 38%. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grace Place sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within MN. Charities of a similar size with the same main cause include Nehemiah Sober Living Inc ($278k), Homesteading and Urban Redevelopment Corporation ($278k) and Grand Forks Community Land Trust ($278k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% of the total. Compensation of current officers, directors and key employees was $41k (13% of expenses). Other salaries and wages came to $123k. At year end it held assets of $433k against liabilities of $228k, net assets of $205k. It reported 21 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.