Grace Lifecare Inc

Analysis

Grace Lifecare Inc is a registered charity in United States, based in Morganton, NC. It received its IRS tax-exemption ruling in March 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Grace Lifecare Inc reported income of $10.4m and spending of $12.2m, spending 118% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income fell from $10.4m to $10.4m (-0.5%), an average of -0.1% a year. The sharpest change came in the year to June 2023, when income rose by 108%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Grace Lifecare Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Evergreen Presbyterian Ministries of Texas Inc ($10.4m), Nova Center of the Ozarks Inc ($10.4m) and Hospice Care Team Inc ($10.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $5.3m. At year end it held assets of $23.6m against liabilities of $25.1m, net assets of -$1.5m. It reported 102 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.