Grace House of Memphis Tennessee

Analysis

Grace House of Memphis Tennessee is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in July 1978, 48 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Grace House of Memphis Tennessee reported income of $953k and spending of $1.1m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $953k (-18%), an average of -4.8% a year. The sharpest change came in the year to June 2023, when income dropped by 21%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Grace House of Memphis Tennessee sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within TN. Charities of a similar size with the same main cause include Texas Golf Association Foundation ($953k), Red Clay Dance Company Inc ($953k) and ALS New Mexico ($953k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $98k (8.9% of expenses). Other salaries and wages came to $550k. At year end it held assets of $1.1m against liabilities of $69k, net assets of $1.0m. It reported 26 employees.