Grace-Mar Services Inc
- Assets
- $1.5m
- Revenue
- $652.2k
- Investments
- $0.0
- Employees
- 11
- Location
- Charlotte, NC
- Founding
- 06/2010
- Data as of
- 12/2020
- EIN
- 80-0235887
Organization Overview
Grace-Mar Services Inc is located in Charlotte, NC. The organization was established in 2010. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2020, Grace-Mar Services Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace-Mar Services 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 12/2020, Grace-Mar Services Inc generated $652.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $485.0k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
GRACE MAR SERVICES INC PROVIDES SOCIAL CAPITAL TO LOW INCOME INDIVIDUALS AND FAMILIES TO HELP THEM WITH SOCIAL AND ECONOMIC MOBILITY THAT LEADS TO SELF-SUFFICIENCY
Describe the Organization's Program Activity:
Part 3 - Line 4a
JOBS PLUS WE INCREASED THE PERCENTAGE OF INDIVIDUALS WHO REPORTED INCOME FROM EMPLOYMENT IN THE COMMUNITY FROM 31% TO 55%
WE HELPED 25 INDIVIDUALS FROM THE FAMILY SELF SUFFICIENCY PROGRAM TO MOVE FROM SUBSIDIZED HOUSING TO MARKET RATE RENTALS OR HOMEOWNERSHIP
OUR INTENSE JOB PLACEMENT PROGRAM HELPED OVER 300 INDIVIDUALS TO SECURE EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grace Smith Vice President | Officer | 40 | $66,667 |
Kenneth Smith President | OfficerTrustee | 60 | $34,664 |
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 | $572,503 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $572,503 |
| Total Program Service Revenue | $48,315 |
| Investment income | $0 |
| 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 | $652,234 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,491 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,240 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $775 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,000 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,192 |
| 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 | $148,098 |
| All other expenses | $0 |
| Total functional expenses | $485,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $298,657 |
| Pledges and grants receivable | $20,010 |
| Accounts receivable, net | $1,119,497 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,355 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,451 |
| Total assets | $1,536,970 |
| 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 | $50,000 |
| Net assets with donor restrictions | $1,486,970 |
| 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 | $1,536,970 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Grace-Mar Services Inc has recieved totaling $25,500.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Western Pennsylvania And Eastern Ohio Sharon, PA PURPOSE: PROGRAM SUPPORT | $13,000 |
United Way Of Greater Charlotte Charlotte, NC PURPOSE: PROGRAM OPERATING COSTS | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consumer Credit Union Greeneville, TN | $557,161,210 | $15,832,085 |
Consumer Education Services Inc Raleigh, NC | $23,360,630 | $7,529,671 |
Housing Consultants Group Greensboro, NC | $1,106,215 | $2,683,425 |
Motley Fool Foundation Alexandria, VA | $13,206,539 | $15,812,396 |
Financial Pathways Of The Piedmont Inc Winstonsalem, NC | $1,642,751 | $1,849,365 |
Consumer Credit Counseling Service Of Western North Carolina Inc Asheville, NC | $2,015,987 | $1,072,793 |
Consumer Credit Insurance Association Rocky Mount, NC | $1,066,199 | $942,381 |
American Financial Education Alliance Charlotte, NC | $225,082 | $614,339 |
D&e A Financial Education And Training Institute Inc East Point, GA | $953,735 | $847,505 |
Level Up 700 Incorporated Atlanta, GA | $69,929 | $257,513 |
Consumer Credit Counseling Service Of The Savannah Area Inc Savannah, GA | $1,147,306 | $564,336 |
Increasing H O P E North Charleston, SC | $127,870 | $448,680 |