The Grace And Mercy Foundation Inc
- Assets
- $617.1m
- Revenue
- $100.2m
- Investments
- $76.8m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/2007
- Data as of
- 12/2021
- EIN
- 20-8050779
The information for The Grace And Mercy Foundation Inc is as of the organization's most recent filing in December '21. This organization is located in New York, NY. It has been in existence for 14 years, following its founding in 2007.
Organization Classification
The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.
The Grace And Mercy Foundation Inc's NTEE code is T20. The "T" tells us that the organization is classified along with Philanthropy, Voluntarism & Grantmaking Foundations. The "20" tells us that the organization is a Private Grantmaking Foundation. The NTEE describes Private Grantmaking Foundations as nongovernmental, nonprofit organizations with funds and programs managed by trustees or directors established to maintain charitable activities serving the common welfare, primarily through grantmaking. Additionally, The Grace And Mercy Foundation Inc is classified as a 501(c)(3) organization, meaning it is engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work according to the IRS.
Program Areas
Program Area 1: The Just Show Up (JSU) Book Club is a program within the general fund that aims to foster community learning for individuals who may not have access, time, or inclination to participate in such learning opportunities. The organization reports all revenues, support, and functional expenses related to this program that are not specifically reported by another fund or program.
Program Area 2: The Public Reading of Scripture (PRS) program serves the purpose of helping individuals read and learn about the Christian Bible as a community.
Grant History
Our dataset includes eight years of grant history for The Grace And Mercy Foundation Inc. Over the course of those eight years, they have awarded a total of 500 grants, with an average check size of $242,897. On average, the organization awards 63 grants each year. The majority of their grants were awarded in the Religion-Related sector (57), followed by Education (29) and International, Foreign Affairs & National Security (25). In terms of geographic distribution, the organization has awarded the most grants in New York (200), followed by Texas (12), Florida (14), and New Jersey (50). They have also awarded grants in various other states, including California (61), Massachusetts (17), and Washington, D.C. (16).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sumi Kim Co-President | 40 | $665,000 | |
Christopher Mcpadden Co-President | 40 | $613,000 | |
Ae Ran Moon Program Officer | 40 | $486,000 | |
Diana Pae Chief Operating Officer | 40 | $470,714 | |
Eung Sik Kim Program Officer | 40 | $465,000 | |
Patrick Halligan Treasurer | 40 | $430,714 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Paul Gojkovich | 12/30/21 | $140,000 |
Inspirational Leadership Llc | 12/30/21 | $200,000 |
Linda Mcpadden | 12/30/21 | $87,810 |
Myeongsuk Park | 12/30/21 | $87,000 |
Charles Kim | 12/30/21 | $56,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6 |
| Interest on Savings | $343,710 |
| Dividends & Interest | $4 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $94,883,985 |
| Capital Gain Net Income | $94,883,985 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,992,334 |
| Total Revenue | $100,220,039 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,764,681 |
| Other employee salaries and wages | $7,421,495 |
| Pension plans, employee benefits | $1,849,885 |
| Interest | $0 |
| Taxes | $1,600,000 |
| Depreciation | $454,638 |
| Occupancy | $1,218,202 |
| Travel, conferences, and meetings | $160,350 |
| Printing and publications | $0 |
| Other expenses | $5,291,979 |
| Total operating and administrative expenses | $22,413,640 |
| Contributions, gifts, grants paid | $24,937,500 |
| Total expenses and disbursements | $47,351,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,676,616 |
| Savings and temporary cash investments | $403,540,006 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $76,841,737 |
| Net Land, buildings, and equipment | $790 |
| Other assets | $1,043,300 |
| Total assets | $617,102,449 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $86,606 |
| Total liabilities | $86,606 |
Grants Awarded
Over the last fiscal year, The Grace And Mercy Foundation Inc has awarded $24,937,500 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
Pasadena, CA PURPOSE: COMMUNITY | $11,000,000 |
CITY SEMINARY OF NEW YORK PURPOSE: RELIGIOUS | $2,500,000 |
FULLER THEOLOGICAL SEMINARY PURPOSE: RELIGIOUS | $1,750,000 |
INTERNATIONAL JUSTICE MISSION PURPOSE: HUMANITARIAN | $750,000 |
Washington, DC PURPOSE: COMMUNITY | $700,000 |
Teaneck, NJ PURPOSE: MEDICAL | $500,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Grace And Mercy Foundation Inc has recieved totaling $9,500,000.
| Awarding Organization | Amount |
|---|---|
The Fuller Foundation Pasadena, CA PURPOSE: GENERAL SUPPORT | $9,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |
The Heinz Endowments Pittsburgh, PA | $0 | $54,378,087 |
Zoom Foundation Greenwich, CT | $956,305,373 | $176,914,821 |
Fidelity Foundation Boston, MA | $2,530,107,332 | $803,389,715 |
Klarman Family Foundation Boston, MA | $754,784,032 | $145,872,662 |
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |