Grace Apostolic Church Inc

Analysis

Grace Apostolic Church Inc is a registered charity in United States, based in Minnetonka, MN. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Grace Apostolic Church Inc reported income of $502k and spending of $609k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $354k to $502k (+42%), an average of +9.2% a year. The sharpest change came in the year to December 2022, when income rose by 143%. Over the whole period it spent 90% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Grace Apostolic Church 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 70th percentile, and in the 69th percentile within MN. Charities of a similar size with the same main cause include David George World Ministries Inc ($502k), Haven of Hope Ministry ($502k) and Huguenot Society of South Carolina ($502k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $108k (18% of expenses). Other salaries and wages came to $62k. At year end it held assets of $1.5m against liabilities of $3.5m, net assets of -$2.1m.