Graces Closet

Analysis

Graces Closet is a registered charity in United States, based in Walhalla, SC. It received its IRS tax-exemption ruling in November 2016, 10 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 December 2023, Graces Closet reported income of $273k and spending of $256k, spending 94% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $201k to $273k (+36%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Graces Closet sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 65th percentile within SC. Charities of a similar size with the same main cause include 30 for the Kids Inc ($273k), Global Oved Dei Seminary & University Inc ($273k) and Inn Along the Way ($273k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $33k. At year end it held assets of $263k against liabilities of $0, net assets of $263k. It reported 1 employees.