Grace Charity Foundation Inc
- Assets
- $5.8m
- Revenue
- -$373.1k
- Investments
- $5.7m
- Employees
- 0
- Location
- Randolph, NJ
- Founding
- 06/2007
- Data as of
- 12/2022
- EIN
- 20-8080868
Organization Overview
Grace Charity Foundation Inc is located in Randolph, NJ. 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 Charity 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 2015, Grace Charity Foundation Inc has awarded 397 individual grants totaling $1,650,538. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jinsoo Kim President | 4 | $0 | |
Seong Kim Director | 1 | $0 | |
Stephen Kim Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $133,506 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$506,566 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$373,060 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $53,523 |
| Taxes | $24,156 |
| Depreciation | $180 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $8,883 |
| Printing and publications | $0 |
| Other expenses | $63,647 |
| Total operating and administrative expenses | $155,789 |
| Contributions, gifts, grants paid | $215,455 |
| Total expenses and disbursements | $371,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,704 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,060 |
| Other assets | $0 |
| Total assets | $5,807,523 |
| Accounts payable and accrued expenses | $3,282 |
| 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 | $1,500,000 |
| Total liabilities | $1,503,282 |
Grants Awarded
Over the last fiscal year, Grace Charity Foundation Inc has awarded $215,455 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
AHL FOUNDATION PURPOSE: CHARITABLE | $33,000 |
AMERICA WHEAT MISSION PURPOSE: RELIGIOUS MISSIONARY | $10,000 |
AWCA PURPOSE: CHARITABLE | $10,000 |
CALGARY ALL NATION COMMUNITY CHURCH PURPOSE: RELIGIOUS | $5,000 |
FAMILY TOUCH PURPOSE: RELIGIOUS | $20,000 |
EPHATHA MISSION PURPOSE: CHARITABLE | $700 |