Graceworx Inc

Analysis

Graceworx Inc is a registered charity in United States, based in Forest City, FL. It received its IRS tax-exemption ruling in June 2015, 11 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 2021, Graceworx Inc reported income of $84k and spending of $78k, spending 93% of its income. Across the 3 years on record, from December 2019 to December 2021, income fell from $120k to $84k (-30%), an average of -16% a year. The sharpest change came in the year to December 2020, when income dropped by 34%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Graceworx Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 36th percentile within FL. Charities of a similar size with the same main cause include Holy Innocents Foundation of Oklahoma ($84k), Open Door Discipleship Ministries ($84k) and Islamic Society of Schuylkill-County ($84k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 100% of the total. At year end it held assets of $146k against liabilities of $0, net assets of $146k.