Grace Institute

Nonprofit profile at a glance

EIN
131641069
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2122620662
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,611,800
Expenses
$3,237,366
Assets
$45,698,476
Liabilities
$3,805,800

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • PATRICK P GRACE (PRESIDENT & CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • PATRICK P GRACE (PRESIDENT & CHIEF EXECUTIVE OFFICER): $268,050 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Grace institute (the "foundation") provides financial support to job training programs in New York city that enable women to achieve sustained, gainful employment. The foundation gives particular attention to the ongoing operation and viability of grace institute of New York, which assumed the foundation's historical operation role in New York city workforce development in october 2016.

What it reported doing in 2024

Provided grants to deserving workforce development organizations in line with our mission.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 82
  • Accountability: 93
  • Sustainability: 38
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 68.2%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 21st percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -100.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 14.12; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: -2.8% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -14.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 68.2% of spending went to programs
  • Governance: 7 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $268K · 8 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $146K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.