Grace Nursing Center Inc

Analysis

Grace Nursing Center Inc is a registered charity in United States, based in Morganton, NC. It received its IRS tax-exemption ruling in September 1994, 32 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 Nursing Center Inc reported income of $766k and spending of $69k, leaving 91% of income unspent that year. Across the 5 years on record, from December 2019 to June 2023, income fell from $4.7m to $766k (-84%), an average of -37% a year. The sharpest change came in the year to June 2023, when income rose by 100%. Over the whole period it spent 74% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Grace Nursing Center Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Discovery Counseling Center ($766k), Debbie-Rand Memorial Service League Inc ($767k) and Irvington Counseling Collective Inc ($766k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $3.0m against liabilities of $28, net assets of $3.0m.