Graceworks Ministries Inc

Analysis

Graceworks Ministries Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in August 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Graceworks Ministries Inc reported income of $11.7m and spending of $11.6m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $7.7m to $11.7m (+53%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Graceworks Ministries Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include Albany County Opportunity Incorporated ($11.7m), Urban Ministries of Wake County Inc ($11.7m) and Toomey Residential and Community Services Corp ($11.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $127k (1.1% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $7.8m against liabilities of $2.3m, net assets of $5.6m. It reported 60 employees.