Home of Grace Corporation

Analysis

Home of Grace Corporation is a registered charity in United States, based in Vancleave, MS. It received its IRS tax-exemption ruling in June 1967, 59 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 2024, Home of Grace Corporation reported income of $3.0m and spending of $3.6m, spending 120% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.9m to $3.0m (+1.8%), an average of +0.4% a year. The sharpest change came in the year to June 2021, when income rose by 138%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Home of Grace Corporation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within MS. Charities of a similar size with the same main cause include Memorial Hospital Foundation ($3.0m), Interaction Institute ($3.0m) and Valley Organizatn for Improved Comm & Equality for the Deaf ($3.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 51% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $102k (2.9% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $7.3m against liabilities of $400k, net assets of $6.9m. It reported 47 employees.