Gracebound Inc

Analysis

Gracebound Inc is a registered charity in United States, based in Fresno, CA. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Gracebound Inc reported income of $327k and spending of $296k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $84k to $327k (+290%), an average of +290% a year. The sharpest change came in the year to December 2023, when income rose by 290%. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gracebound Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within CA. Charities of a similar size with the same main cause include Hale Lokahi Akahi ($327k), Grace Manor Inc ($327k) and Gilead House ($327k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.2% of the total. Compensation of current officers, directors and key employees was $32k (11% of expenses). Other salaries and wages came to $127k. At year end it held assets of $132k against liabilities of $80k, net assets of $52k.