In Grace Ministries Inc
- Assets
- $747.1k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 18
- Location
- Lake Zurich, IL
- Founding
- 10/2001
- Data as of
- 12/2022
- EIN
- 31-1740930
Organization Overview
In Grace Ministries Inc is located in Lake Zurich, IL. The organization was established in 2001. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2023, In Grace Ministries Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. In Grace Ministries 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 12/2022, In Grace Ministries Inc generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROCLAIM CHRIST AND EXTEND HUMANITARIAN AID THROUGHOUT THE WORLD.
Describe the Organization's Program Activity:
PROCLAIM CHRIST AND EXTEND HUMANITARIAN AID THROUGHOUT THE WORLD
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Scudder Jr President | OfficerTrustee | 2.5 | $0 |
Gary Birginal Director | Trustee | 2.5 | $0 |
Dr Robert Tanney Director | Trustee | 2.5 | $0 |
Pastor Rod Holler Director | Trustee | 2.5 | $0 |
Pastor John Julian Director | Trustee | 2.5 | $0 |
Sal Reyes Treasurer | OfficerTrustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,573,141 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,573,141 |
| Total Program Service Revenue | $85,815 |
| Investment income | $4,174 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,146 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,668,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,882 |
| Grants and other assistance to domestic individuals. | $140,238 |
| Grants and other assistance to Foreign Orgs/Individuals | $21,078 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $650,114 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,286 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,986 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,335 |
| Insurance | $0 |
| All other expenses | $1,809 |
| Total functional expenses | $1,699,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,051 |
| Savings and temporary cash investments | $436,826 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,089 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $68,351 |
| Prepaid expenses and deferred charges | $31,560 |
| Net Land, buildings, and equipment | $28,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $747,113 |
| Accounts payable and accrued expenses | $25,516 |
| Grants payable | $0 |
| Deferred revenue | $295,931 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,474 |
| Total liabilities | $345,921 |
| Net assets without donor restrictions | $152,973 |
| Net assets with donor restrictions | $248,219 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $747,113 |
Grants Awarded
Over the last fiscal year, In Grace Ministries Inc has awarded $31,451 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AMAZING GRACE MISSION PURPOSE: Mission Support | $5,815 |
QUENTIN ROAD BAPTISIT CHURCH PURPOSE: Operating Grant | $25,636 |