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Grace Cottage Foundation FY2024 filing

Tax-deductible

Townshend, VT501(c)(3)Since 1994EIN 03-0343282Revenue $3.8M in FY2024

On file with the IRSgracecottage.orgPo Box 1, 05353-0001 · Townshend, VTTax-exempt since Oct 1994Supporting organization — 509(a)(3)

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Grace Cottage Foundation is organized for charitable, benevolent, scientific and educational purposes, in particular to support and encourage health care-related services for the advancement of the health and well-being of the community, through fundraising and fund management in furtherance of the purposes of Grace Cottage Foundation and through all other relevant means.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $802K a year · 32% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 18.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
13
named funders · $511K
Looks good: 13 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$86K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.8M
+80% vs prior year
Spent
$1.5M
To programs
69%
Net assets
$12.4M
By yearFY2020–FY2024
Revenue
$3.8M
FY2024▲ +80%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$2.4M
FY2022$2.2M
FY2023$2.1M
FY2024$3.8M
FY2024$5.8M
Expenses
$1.5M
FY2024▼ -19%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.8M
FY2022$1.8M
FY2023$1.9M
FY2024$1.5M
FY2024$1.7M
Net assets
$12.4M
FY2024▲ +33%
Tap a bar for its year
Net assets by fiscal year
FY2020$9.1M
FY2021$10.2M
FY2022$8.7M
FY2023$9.3M
FY2024$12.4M
FY2024$16.2M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1994.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $1.1M Management & general 3% · $47K Fundraising 28% · $429K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Thomas Kalchthaler
Director (start 11/2023)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kevin Rogers
Director
$0Pt VII · Sec A
Sheila Scheuerman
Director (end 11/2023)
$0Pt VII · Sec A
Travis Shine
Director
$0Pt VII · Sec A
Tracy Sloan
President
$0Pt VII · Sec A
Rachel Stettler
President (end 10/2023)
$0Pt VII · Sec A
See Grace Cottage Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Raise funds to support public health care services.

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2023
01

Grace Cottage Foundation supplies fundraising support for an affiliated nonprofit, Carlos G. Otis Health Care Center, Inc., which provides health care services to the public.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
The Pollio Family Foundation INCFY2024$200K
Donor Advised Charitable Giving INCFY2024$181K
Vermont Community FoundationFY2024$52K
C J Heilig Foundation INC C/O Dr William LecatesFY2024$25K
The Nessel Family Foundation INCFY2024$10K
Vanguard Charitable Endowment ProgramFY2024$10K
The US Charitable Gift TrustFY2024$10K
Robert K and a Joyce Jones Foundation INCFY2024$10K
Total grants receivedfrom 13 funders$511K
See all 13 funders →
Grants paid · 6 grants · $7.5M · 2019–2024
Carlos G Otis Health Care Center INCVT · FY2024$1,223,016
Carlos G Otis Health Care Center INCVT · FY2023$1,061,273
Carlos G Otis Health Care Center INCVT · FY2022$1,469,247
Carlos G Otis Health Care Center INCVT · FY2021$1,413,306
Carlos G Otis Health Care Center INCVT · FY2020$1,445,821
Carlos G Otis Health Care Center INCVT · FY2019$907,375

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.8M
Ln 12
Gifts and grantsLn 1h$3.2M
Investment incomeLn 3$500K
Other incomeLn 4–11$45K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.1M
Managementcol C$47K
Fundraisingcol D$429K
Owns and owesPt X
$12.4M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$12.5M
LiabilitiesLn 26$86K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.2M
Government grantsLn 1e$8K
Noncash giftsLn 1g$14K
Fundraising eventsLn 1c$66K
Investment incomeLn 3$500K
Other incomeLn 4–11$45K
Gains on assetsLn 7$255K
Total revenueLn 12$3.8M
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$620K
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$7.1M
Other assetsLn 15$2.0M
Total assetsLn 16$12.5M
LiabilitiesLn 26$86K
Net assetsLn 32$12.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6205
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.5M$2.3M
InvestmentsLn 11–13$6.3M$7.1M
Total assetsLn 16$9.5M$12.5M
LiabilitiesLn 26$188K$86K
Net assetsLn 32$9.3M$12.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.1M$1.1M
Investment management feesLn 11f$47K$47K
Office expensesLn 13$6K$6K
Other expenses (24a–d)Ln 24$423K$423K
Total functional expensesLn 25$1.5M$1.1M$47K$429K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $3.8M$1.5M$2.2M$12.4M 990 PDF
FY2023 $2.1M$1.9M$195K$9.3M 990 PDF
FY2022 $2.2M$1.8M$428K$8.7M 990 PDF
FY2021 $2.4M$1.8M$612K$10.2M 990 PDF
FY2020 $1.8M$1.3M$537K$9.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $3,775,315 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,682,894$3,230,465
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $336,460$500,321
I-11 Other revenuePrior year $74,433$44,529
I-12 Total revenuePrior year $2,093,787$3,775,315
I-13 Grants and similar amounts paidPrior year $1,469,247$1,061,273
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $429,077$475,582
I-18 Total expensesPrior year $1,898,324$1,536,855
I-19 Revenue less expensesPrior year $195,463$2,238,460
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,775,315 across 9 lines filed
Lines not itemized here account for $1,736 of total revenue; see the IRS return.
VIII-1c Fundraising events$66,172
VIII-1e Government grants$8,000
VIII-1f All other contributions, gifts and grants$3,156,293
VIII-1g Noncash contributions (included above)$14,350
VIII-1h Total contributions, gifts and grants$3,230,465
VIII-3 Investment incomeExcluded from tax $245,028$245,028
VIII-7 Net gain or loss on sales of assetsExcluded from tax $255,293$255,293
VIII-8 Net income from fundraising eventsExcluded from tax $42,793$42,793
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $544,850$3,775,315
Part IX · Statement of functional expenses $1,536,855 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $1,061,273$1,061,273
IX-11f Investment management feesManagement $46,572$46,572
IX-13 Office expensesFundraising $5,884$5,884
IX-24 Other expenses (24a–d)Fundraising $423,126$423,126
IX-25 Total functional expensesPrograms $1,061,273 · Management $46,572 · Fundraising $429,010$1,536,855
Part X · Balance sheet $12,479,862 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,112,257$1,680,480
X-2 Savings and temporary cash investmentsStart of year $339,099$620,038
X-3 Pledges and grants receivable$1,077,677
X-11 Publicly traded securitiesStart of year $6,336,275$7,088,531
X-15 Other assetsStart of year $1,688,316$2,013,136
X-16 Total assetsStart of year $9,475,947$12,479,862
X-17 Accounts payable and accrued expensesStart of year $15,783$59,465
X-25 Other liabilitiesStart of year $172,274$26,194
X-26 Total liabilitiesStart of year $188,057$85,659
X-27 Net assets without donor restrictionsStart of year $5,650,316$6,745,541
X-28 Net assets with donor restrictionsStart of year $3,637,574$5,648,662
X-32 Total net assets or fund balancesStart of year $9,287,890$12,394,203
X-33 Total liabilities and net assetsStart of year $9,475,947$12,479,862
Part XI · Reconciliation of net assets $12,394,203 net assets at year end
XI-1 Total revenue$3,775,315
XI-2 Total expenses$1,536,855
XI-3 Revenue less expenses$2,238,460
XI-4 Net assets at start of year$9,287,890
XI-5 Net unrealized gains (losses) on investments$869,394
XI-9 Other changes in net assets−$1,541
XI-10 Net assets at end of year$12,394,203

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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