Grace Works Jersey City Inc
- Assets
- $2.6m
- Revenue
- $97.9k
- Investments
- $2.1m
- Employees
- 0
- Location
- Jersey City, NJ
- Founding
- 09/2015
- Data as of
- 06/2022
- EIN
- 22-2885442
Organization Overview
Grace Works Jersey City Inc is located in Jersey City, NJ. The organization was established in 2015. 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 Works Jersey City Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Grace Works Jersey City Inc generated $97.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.3% each year . All expenses for the organization totaled $381.0k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Grace Works Jersey City Inc has awarded 43 individual grants totaling $1,862,660. 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 Mission:
Part 3 - Line 1
TO SERVE THE IMMEDIATE GRACE VAN VORST NEIGHBORHOOD,BROADER JERSEY CITY COMMUNITY BY PROVIDING OR SUPPORTING: 1) SOCIAL SERVICES FOR PEOPLE IN NEED; 2) EDUCATION;3) AFFORDABLE HOUSING, SCHOOLS,AND COMMUNITY CENTERS; AND BY 4) ENGAGING IN OTHER ACTIVITIES, PERMITTED UNDER N.J.S.A. 15A-1, ET SEQ., WHICH ADDRESS HUMAN (INCLUDING SPIRITUAL) NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSISTENT WITH THE ORGANIZATIONS MISSION, PROVIDED GRANTS TO A CHURCH FACILITIES FUND AND A CHARITABLE ORGANIZATION OPERATING IN THE GRACE VAN VORST AREA OF JERSEY CITY TO SUPPORT THEIR PROVISION OF FOOD, SOCIAL SERVICES AND SPIRITUAL SUPPORT TO PEOPLE IN NEED, AS WELL AS SPACE FOR COMMUNITY ACTIVITIES.
CONSISTENT WITH THE ORGANIZATIONS MISSION, PROVIDED A LAND ACQUISITION LOAN AND AN EQUIPMENT LEASE AT BELOW MARKET RATES TO A PUBLIC SCHOOL TO HELP IT CONSTRUCT A NEW SCHOOL FACILITY AND TO ACQUIRE INSTRUCTIONAL EQUIPMENT FOR THE BENEFIT OF THE CHILDREN OF JERSEY CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bret Schundler President | 3 | $0 | |
Edie Hunt Treasurer | 1 | $0 | |
Julie Dalton Trustee | 0.5 | $0 | |
Arlene Hampton Trustee | 0.5 | $0 | |
Bayla Kallstrom Trustee | 0.5 | $0 | |
Jack Pestaner Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $63,878 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $34,025 |
| Total Revenue | $97,903 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,451 |
| Total operating and administrative expenses | $12,971 |
| Contributions, gifts, grants paid | $368,000 |
| Total expenses and disbursements | $380,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $205,664 |
| Savings and temporary cash investments | $148,823 |
| 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 | $2,059,347 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $219,572 |
| Total assets | $2,633,406 |
| Accounts payable and accrued expenses | $6,500 |
| 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 | $0 |
| Total liabilities | $6,500 |
Grants Awarded
Over the last fiscal year, Grace Works Jersey City Inc has awarded $368,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
GRACE COMMUNITY SERVICES PURPOSE: GENERAL OPERATIONS; MEALS FOR THE HOMELESS; SENIOR SERVICES | $198,000 |
FAMILY PROMISE OF HUDSON COUNTY PURPOSE: GENERAL OPERATIONS; SUPPORT FOR SHELTERING OF THE HOMELESS | $30,000 |
WELCOME HOME JERSEY CITY PURPOSE: SUPPORT SERVICES FOR REFUGES, ASLYEES AND ASYLUM SEEKERS | $100,000 |
EPISCOPAL JERSEY CITY PURPOSE: FOOD PANTRY SUPPORT | $10,000 |
MIDEAST EVANGELICAL CHURCH PURPOSE: GENERAL OPERATING EXPENSES FOR PROGRAM ASSISTING FOOD AND HOUSING INSECURE FAMILIES | $20,000 |
UKRANIAN JERSEY CITY PURPOSE: UKRANIAN JC SUPPORT | $10,000 |