Gracewood Inc
- Assets
- $4.9m
- Revenue
- $1.3m
- Investments
- $1.7k
- Employees
- 15
- Location
- Round Rock, TX
- Founding
- 01/2002
- Data as of
- 12/2021
- EIN
- 31-1815830
Organization Overview
Gracewood Inc is located in Round Rock, TX. The organization was established in 2002. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Gracewood Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gracewood 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 12/2021, Gracewood Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RESCUE CHILDREN AND THEIR SINGLE MOTHERS, ENSURING A BRIGHT FUTURE BY PROVIDING HOME, HOPE, AND HEALING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRACEWOOD IS A TRANSITIONAL HOUSING MINISTRY THAT DELIVERS TRAUMA-INFORMED SERVICES TO VULNERABLE HOUSTON CHILDREN AND THEIR SINGLE MOTHERS INCLUDING HOUSING, CASE MANAGEMENT, MENTORING, EDUCATIONAL SUPPORT, LIFE SKILLS & PARENTING TRAINING, FINANCIAL PLANNING, AND FINANCIAL ASSISTANCE WITH CHILDCARE AND TANGIBLE NEEDS. THE HOUSING AND SUPPORTIVE SERVICES STABILIZE FAMILIES SO MOTHERS CAN COMPLETE GOALS THAT INCREASE THE FAMILY'S RESILIENCY AND LONG-TERM SUSTAINABILITY. THE MINISTRY ALSO DELIVERS NO-COST TRAUMA-INFORMED COUNSELING AND PARENTING TRAINING TO ADDRESS TRAUMA-BASED BEHAVIORS IN ORDER TO INCREASE THE FAMILY'S PHYSICAL AND EMOTIONAL WELL-BEING; TO IMPROVE THEIR ABILITY TO DEVELOP AND MAINTAIN HEALTHY RELATIONSHIPS; AND TO BREAK THE CYCLE OF FAMILY INSTABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Rice Cotton President | Officer | 40 | $99,287 |
Jim Meyerhoff Chairman & Trustee | OfficerTrustee | 1 | $0 |
Todd Roberson Vice Chair & Trustee | OfficerTrustee | 1 | $0 |
Beth Black Secretary & Trustee | OfficerTrustee | 1 | $0 |
Hanson Yates Trustee | Trustee | 1 | $0 |
Larry Bertrand Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $884,321 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $390,894 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,275,215 |
| Total Program Service Revenue | $17,756 |
| Investment income | $28,197 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,338,315 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $118,078 |
| Compensation of current officers, directors, key employees. | $1,605 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $475,008 |
| Pension plan accruals and contributions | $30,479 |
| Other employee benefits | $102,616 |
| Payroll taxes | $43,247 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,376 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $120,013 |
| Advertising and promotion | $3,675 |
| Office expenses | $42,757 |
| Information technology | $23,514 |
| Royalties | $0 |
| Occupancy | $106,241 |
| Travel | $4,419 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,454 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,525 |
| Insurance | $24,594 |
| All other expenses | $1,445 |
| Total functional expenses | $1,252,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,957 |
| Savings and temporary cash investments | $1,337,578 |
| Pledges and grants receivable | $210,578 |
| Accounts receivable, net | $13,812 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,956 |
| Net Land, buildings, and equipment | $2,975,071 |
| Investments—publicly traded securities | $23,962 |
| Investments—other securities | $1,695 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $290,105 |
| Total assets | $4,879,714 |
| Accounts payable and accrued expenses | $155,793 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $155,793 |
| Net assets without donor restrictions | $4,310,861 |
| Net assets with donor restrictions | $413,060 |
| 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 | $4,879,714 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Gracewood Inc has recieved totaling $794,651.
| Awarding Organization | Amount |
|---|---|
Children At Heart Foundation Round Rock, TX PURPOSE: SUPPORT FOR SINGLE PARENT FAMILIES. | $424,813 |
Children At Heart Ministries Round Rock, TX PURPOSE: GENERAL SUPPORT | $320,738 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $23,100 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $16,000 |
Earl W And Hazel C Pierson Foundation Dimebox, TX PURPOSE: SERVICES FOR ABUSED WOMEN/CHILDREN | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Night Shelter Of Tarrant County Fort Worth, TX | $53,230,417 | $14,049,509 |
Heading Home Albuquerque, NM | $3,839,726 | $7,660,261 |
Family Gateway Inc Dallas, TX | $4,760,688 | $5,756,628 |
Promise House Inc Dallas, TX | $2,582,966 | $6,657,110 |
Tulsa Day Center Inc Tulsa, OK | $24,852,290 | $5,725,304 |
Homeless Alliance Oklahoma City, OK | $7,046,027 | $5,204,713 |
The Arlington Life Shelter Arlington, TX | $13,090,653 | $3,657,043 |
Dallas Mission For Life Inc Dallas, TX | $12,842,578 | $4,044,639 |
Housing Crisis Center Inc Dallas, TX | $949,775 | $3,183,683 |
Ozanam Inn New Orleans, LA | $7,390,510 | $3,165,767 |
Saint Elizabeth Shelter Corporation Santa Fe, NM | $5,088,716 | $4,023,137 |
Ouachita Children Youth And Family Services Inc Hot Springs, AR | $2,002,351 | $3,002,297 |