Sponsored by Grace Inc

Analysis

Sponsored by Grace Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in August 2018, 8 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, Sponsored by Grace Inc reported income of $501k and spending of $672k, spending 134% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $365k to $501k (+37%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sponsored by Grace Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 73rd percentile within FL. Charities of a similar size with the same main cause include Common Ground Outdoor Adventures Inc ($501k), Friends Network Inc ($501k) and Pearl Battered Womens Resource Center ($501k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $75k (11% of expenses). Other salaries and wages came to $168k. At year end it held assets of $209k against liabilities of $0, net assets of $209k. It reported 6 employees.