Miracles Of Grace Foundation Inc
- Assets
- $3.9m
- Revenue
- $174.3k
- Investments
- $416.2k
- Employees
- 1
- Location
- Merigold, MS
- Founding
- 10/1986
- Data as of
- 12/2021
- EIN
- 64-0730366
Organization Overview
Miracles Of Grace Foundation Inc is located in Merigold, MS. The organization was established in 1986. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Miracles Of Grace 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.
For the year ending 12/2021, Miracles Of Grace Foundation Inc generated $174.3k 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 (13.3%) each year. All expenses for the organization totaled $164.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.8%) per year over the past 7 years. 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
OPERATED EXCLUSIVELY TO CARRY OUT THE CHARITABLE, BENEVOLENT, EDUCATIONAL AND SCIENTIFIC PURPOSES OF JEFF ANDERSON REGIONAL MEDICAL CENTER, MS BAPTIST FOUNDATION AND ANY OTHER CHARITIES WHICH MEET THE CRITERIA OF TAX-EXEMPT STATUES AND BOARD OF DIRECTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS JEFF ANDERSON REGIONAL MEDICAL CENTER BY PROVIDING GRANTS USED BY THE HOSPITAL TO PURCHASE MEDICAL EQUIPMENT AND BUILDINGS
THE FOUNDATION PROVIDES EDUCATIONAL OPPORTUNITIES TO INDIVIDUALS THROUGH EDUCATION GRANTS.
GRANTS TO MS BAPTIST FOUNDATION
OTHER 501(C)3 ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanna Barnes President | Officer | 25 | $46,338 |
H Wingfield Glover III Secretary | Officer | 1 | $0 |
Joseph Anderson Vice President | Officer | 1 | $0 |
Carol Davidson Director | Trustee | 1 | $0 |
Jan Anderson Director | Trustee | 1 | $0 |
Fred Porter Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $145,187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,132 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,319 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,145 |
| Grants and other assistance to domestic individuals. | $32,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| 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 | $46,338 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,295 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,272 |
| Fees for services: Accounting | $4,250 |
| 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 | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $995 |
| Total functional expenses | $164,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,286 |
| Savings and temporary cash investments | $153,515 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,294,874 |
| Investments—other securities | $416,230 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,613 |
| Total assets | $3,917,518 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $3,917,518 |
| Net assets with donor restrictions | $0 |
| 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 | $3,917,518 |
Grants Awarded
Over the last fiscal year, Miracles Of Grace Foundation Inc has awarded $7,045,750 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Meridian, MS | | $6,909,074 |
Meridian, MS PURPOSE: MEDICAL EQUIPMENT | $136,676 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gayle And Tom Benson Charitablefoundation Metairie, LA | $44,526 | $10,673,881 |
The Oscar J Tolmas Charitable Trust Metairie, LA | $58,086,420 | $4,279,649 |
University Of Arkansas Technology Development Foundation Fayetteville, AR | $18,380,736 | $2,093,754 |
Holle Family Foundation Birmingham, AL | $55,700,431 | $5,149,826 |
Gibson Gives Nashville, TN | $1,089,402 | $2,193,701 |
Hogs For The Cause New Orleans, LA | $5,195,648 | $2,017,897 |
Mississippi Gulf Resort Classic Foundation Inc Diberville, MS | $344,774 | $1,047,972 |
The Heritage Association Of Rogersville Rogersville, TN | $795,472 | $1,116,396 |
Lifeboat Inc Bossier City, LA | $2,647,161 | $2,882,081 |
Germantown Charity Horse Show Inc Germantown, TN | $1,243,470 | $885,175 |
Bogle Family Foundation Bentonville, AR | $10,546,078 | $497,099 |
Galilee Majestic Arms Incorporated Shreveport, LA | $778,064 | $500,820 |