The Grace And Mercy Foundation Inc
- Assets
- $510.5m
- Revenue
- -$40.9m
- Investments
- $366.2m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/2007
- Data as of
- 12/2022
- EIN
- 20-8050779
Organization Overview
The Grace And Mercy Foundation Inc is located in New York, NY. The organization was established in 2007. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace And Mercy Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2014, Grace And Mercy Foundation Inc has awarded 593 individual grants totaling $153,153,595. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE JUST SHOW UP (JSU) BOOK CLUB, THE PURPOSE OF WHICH IS TO FOSTER COMMUNITY LEARNING MADE AVAILABLE TO THOSE WHO MIGHT NOT OTHERWISE HAVE THE ACCESS, TIME, OR INCLINATION TO PARTICIPATE IN SUCH LEARNING
THE PUBLIC READING OF SCRIPTURE (PRS) PROGRAM, THE PURPOSE OF WHICH IS TO HELP PEOPLE READ AND LEARN AS A COMMUNITY ABOUT THE CHRISTIAN BIBLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sumi Kim Co-President | 40 | $699,615 | |
Christopher Mcpadden Co-President | 40 | $635,213 | |
Becky Hwang Vice President And Director | 2 | $0 | |
Sung Kook Hwang Co-Chairman And Director | 10 | $0 | |
Patrick Halligan Treasurer | 40 | $539,396 | |
Andrew Mills Co-Chairman And Director | 25 | $381,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Inspirational Leadership Llc | 12/30/22 | $180,000 |
Paul Gojkovich | 12/30/22 | $150,000 |
Linda Mcpadden | 12/30/22 | $72,500 |
Myeongsuk Park | 12/30/22 | $87,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,480,656 |
| Dividends & Interest | $205,051 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$45,244,150 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,646,193 |
| Total Revenue | -$40,912,250 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,536,204 |
| Other employee salaries and wages | $11,766,193 |
| Pension plans, employee benefits | $2,769,523 |
| Interest | $0 |
| Taxes | $962,398 |
| Depreciation | $112,705 |
| Occupancy | $1,764,782 |
| Travel, conferences, and meetings | $422,472 |
| Printing and publications | $0 |
| Other expenses | $5,484,538 |
| Total operating and administrative expenses | $32,727,051 |
| Contributions, gifts, grants paid | $31,705,149 |
| Total expenses and disbursements | $64,432,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $817,413 |
| Savings and temporary cash investments | $139,370,226 |
| 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 | $366,178,240 |
| Net Land, buildings, and equipment | $44 |
| Other assets | $4,151,438 |
| Total assets | $510,517,361 |
| 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 | $123,984 |
| Total liabilities | $123,984 |
Grants Awarded
Over the last fiscal year, The Grace And Mercy Foundation Inc has awarded $31,705,149 in support to 93 organizations.
| Grant Recipient | Amount |
|---|---|
414 WINDOW NEW YORK INC PURPOSE: RELIGIOUS | $375,000 |
ASSOCIATION OF GOSPEL RESCUE MISSIONS DBA CITYGATE NETWORK PURPOSE: HUMANITARIAN | $20,000 |
A ROCHA USA PURPOSE: COMMUNITY | $100,000 |
AVAIL NYC PURPOSE: COMMUNITY | $290,000 |
BEACON CHRISTIAN COMMUNITY HEALTH CENTER PURPOSE: MEDICAL | $240,000 |
CAMPUS CRUSADE FOR CHRIST INTERNATIONAL PURPOSE: RELIGIOUS | $100,000 |