Grace Institute Of New York Inc
- Assets
- $2.4m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 28
- Location
- New York, NY
- Founding
- 08/2016
- Data as of
- 12/2021
- EIN
- 81-0844164
Organization Overview
Grace Institute Of New York Inc is located in New York, NY. The organization was established in 2016. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 12/2021, Grace Institute Of New York Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Institute Of New York 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, Grace Institute Of New York Inc generated $3.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 18.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
GRACE INSTITUTES MISSION IS TO EMPOWER UNDERSERVED WOMEN IN THE NEW YORK AREA TO ACHIEVE EMPLOYMENT AND ECONOMIC SELF-SUFFICIENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, GRACE INSTITUTE SERVED 175 WOMEN THROUGH OUR WORKFORCE TRAINING PROGRAMS AND SUCCESSFULLY GRADUATED 137 (78%). WE WILL PLACE 75% OF OUR GRADUATES IN A VARIETY OF INDUSTRIES INCLUDING HEALTH CARE, LEGAL, HOSPITALITY AND NONPROFIT. OUR GRADUATES WILL INCREASE THEIR PERSONAL INCOME FIVE FOLD AFTER COMPLETING THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Ramelli Cdo | 35 | $169,038 | |
Danae Mcleod Executive Dir. | Officer | 35 | $128,654 |
Mia Wilson Cso | 35 | $104,776 | |
Patricia Montgomerie Chair | OfficerTrustee | 10 | $0 |
Iva Vukina Secretary | OfficerTrustee | 2 | $0 |
Brendan Doyle Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $283,041 |
| Related organizations | $0 |
| Government grants | $425,681 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,513,533 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,222,255 |
| Total Program Service Revenue | $4,830 |
| 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 | $3,229,572 |
| 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. | $136,703 |
| Compensation of current officers, directors, key employees. | $13,670 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,266,714 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $116,586 |
| Payroll taxes | $114,330 |
| 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 | $89,728 |
| Advertising and promotion | $1,954 |
| Office expenses | $30,525 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $288,711 |
| Travel | $1,797 |
| 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 | $140,694 |
| Insurance | $116,966 |
| All other expenses | $12,178 |
| Total functional expenses | $2,406,418 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $783,160 |
| Savings and temporary cash investments | $1,055,101 |
| Pledges and grants receivable | $483,107 |
| 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 | $16,579 |
| Net Land, buildings, and equipment | $70,771 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,408,718 |
| Accounts payable and accrued expenses | $26,599 |
| 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 | $273,700 |
| Other liabilities | $0 |
| Total liabilities | $300,299 |
| Net assets without donor restrictions | $1,688,540 |
| Net assets with donor restrictions | $419,879 |
| 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 | $2,408,718 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Grace Institute Of New York Inc has recieved totaling $1,714,125.
| Awarding Organization | Amount |
|---|---|
Grace Institute New York, NY PURPOSE: Operational Support | $1,370,000 |
Mother Cabrini Health Foundation New York, NY PURPOSE: MENTAL HEALTH SUPPORTS FOR WORKFORCE TRAINING PARTICIPANTS | $175,000 |
The Harry & Jeanette Weinberg Foundation Inc Owings Mills, MD PURPOSE: TO SUPPORT THE GENERAL OPERATIONS OF THIS ORGANIZATION, WHICH OFFERS TWO JOB-TRAINING PROGRAMS FOR WOMEN SEEKING TO RE-ENTER THE WORKFORCE. | $100,000 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $24,000 |
Hyde And Watson Foundation Warren Township, NJ PURPOSE: PURCHASE AND INSTALLATION OF COMPUTER EQUIPMENT. | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Work & Independence Inc Glens Falls, NY | $10,451,280 | $22,331,025 |
Hudson Community Enterprises Inc Jersey City, NJ | $11,931,222 | $18,486,775 |
Threshold Rehabilitation Services Inc Reading, PA | $11,899,909 | $17,640,016 |
Community Integrated Services Philadelphia, PA | $2,476,322 | $14,565,645 |
Marc Inc Of Manchester Manchester, CT | $8,800,021 | $14,465,697 |
Triangle Inc Malden, MA | $7,569,693 | $11,643,804 |
Sarah Inc Westbrook, CT | $8,388,396 | $12,212,686 |
Beaver County Rehabilitation Center Inc Aliquippa, PA | $10,513,213 | $9,961,243 |
Marrakech Incorporated Woodbridge, CT | $17,188,402 | $8,533,229 |
Sparc Services Philadelphia, PA | $16,875,723 | $9,202,219 |
Project Genesis Incorporated Willimantic, CT | $9,969,984 | $6,952,463 |
Opportunity Works Inc Newburyport, MA | $12,187,041 | $8,191,091 |