Grace Resources Inc

Analysis

Grace Resources Inc is a registered charity in United States, based in Lancaster, CA. It received its IRS tax-exemption ruling in August 1991, 35 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, Grace Resources Inc reported income of $974k and spending of $825k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $985k to $974k (-1.1%), an average of -0.3% a year. The sharpest change came in the year to December 2022, when income dropped by 41%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grace Resources Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include S a B L E House ($974k), Community Reconstruction Inc ($975k) and Community Housing Initiative Inc ($974k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $95k (12% of expenses). Other salaries and wages came to $301k. At year end it held assets of $1.1m against liabilities of $136k, net assets of $1.0m. It reported 9 employees.