Grace Dee May INC: FY2024 Nonprofit Profile & Form 990 (EIN 03-0591428)

Revenue by fiscal year
FY2020	$226K
FY2021	$334K
FY2022	$259K
FY2023	$122K
FY2024	$373K
FY2025	$280K

Expenses by fiscal year
FY2020	$136K
FY2021	$157K
FY2022	$218K
FY2023	$176K
FY2024	$170K
FY2025	$186K

Net assets by fiscal year
FY2020	$4.2M
FY2021	$4.6M
FY2022	$3.7M
FY2023	$4.1M
FY2024	$4.3M
FY2025	$4.6M

Grace Dee May INC Form 990 (PDF) Claim this org

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?

Yes

Per the IRS master file.

Can I give now?

No revocation on IRS record

Not on the IRS revocation list.

Filing up to date?

Yes — filed FY2025

Legal name (IRS)Hdr · item CGrace Dee May INC

EINHdr · item D03-0591428

Exempt statusHdr · item I501(c)(3) · active

Ruling yearIRS BMFMar 2007

Year of formationHdr · item L2005

Latest filingForm 990FY2025 · Form 990

Principal addressHdr · item CLos Angeles, CA

NTEE classificationIRS BMFArts & Culture (A54)

WebsiteHdr · item Jgracedeemay.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

84%

16%

Program services $0.84 Management & general $0.16

Program services84%$143K

Management & general16%$27K

Total functional expensesLn 25$170K

Finances

Money in and out, what it owns and owes

Program efficiency

84%

of spending reaches programs

Months of spending covered by cash

302.7mo

months of highly liquid reserves at operating expense rate

Surplus margin

+54%

revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990

Total assets

$4.3M

FY2024▲ +5%

Total assets by fiscal year
FY2020	$4.2M
FY2021	$4.6M
FY2022	$3.7M
FY2023	$4.1M
FY2024	$4.3M
FY2025	$4.6M

Total liabilities

$1K

FY2024

Total liabilities by fiscal year
FY2020	$0
FY2021	$0
FY2022	$0
FY2023	$0
FY2024	$1K
FY2025	$1K

Revenue less expensesPt I · Ln 19$203K

Total assetsPt X · Ln 16$4.3M

Program-expense ratioPt IX · col B84%

Voting members of governing bodyPt I · Ln 311

Independent voting membersPt I · Ln 411

Balance Sheet

Part X · end of year

CashLn 1$79K

Total assetsLn 16$4.3M

Total liabilitiesLn 26$1K

Total net assetsLn 32$4.3M

Months of cash on handcomputed5.6

Statement of Revenue

Part VIII

Investment income100%$373K

Total revenueLn 12$373K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it

Liquidity & Payout

Months of spending covered by cash

Highly liquid reserves $4.3M · Operating expenses/yr $170K

302.7 months

Where the money goes

Program services

Program services $143K · Total expenses $170K

84%

Management & General

Management & general $27K · Total expenses $170K

16%

Fundraising

Fundraising $0 · Total expenses $170K

Cost to raise $1

Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $0 · Total revenue $373K

Government reliance

Government grants — · Total revenue $373K

—

Earned-income share

Program service revenue $0 · Total revenue $373K

Investment reliance

Investment income $373K · Total revenue $373K

+100%

Program self-sufficiency

Program service revenue $0 · Total expenses $170K

Growth & trend

Revenue growth (YoY)

This year $373K · Prior year $122K

+205%

Revenue CAGR

FY2020 $226K · FY2024 $373K

+13%

Net-asset trend (YoY)

End of year $4.3M · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $373K · Expenses $170K

+54%

Liabilities-to-Assets

Total liabilities — · Total assets $4.3M

—

Net-asset ratio

Net assets $4.3M · Total assets $4.3M

100%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) $4.2M · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $4.3M

98%

People & payroll

Highest Reported Total Compensation

Individual Sean Foran · Reported title President · Highest reported compensation $0 · Total expenses $170K

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $170K

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	84%	—	—
Overhead ratio	16%	—	—
Revenue growth	205%	—	—
Investment management fee ratio	0.6%	—	—
Legal fee ratio	0.3%	—	—
Accounting fee ratio	1%	—	—
Fundraising fee ratio	0%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Sean Foran

President

$0Pt VII · Sec A

Reynold Blight

Treasurer

$0Pt VII · Sec A

Fred Davis

Secretary

$0Pt VII · Sec A

Ronald L Hart

Director

$0Pt VII · Sec A

Ronald G Hopkins

Director

$0Pt VII · Sec A

Guy Richmond

Director

$0Pt VII · Sec A

Melvyn B Stein

Director

$0Pt VII · Sec A

Margaret Jacob

Director

$0Pt VII · Sec A

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Governance & Policies

Part VI

11Voting board membersPt VI · Ln 1a
11Independent board membersPt VI · Ln 1b
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
Top official’s pay independently reviewedPt VI · Ln 15aNo
Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Grace Dee May INC is an arts and culture nonprofit based in Los Angeles, CA, formed in 2005.

Provided by the organization

This section is blank until Grace Dee May INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $143K of program spending, described in the organization's own filed words · FY2024.

Museum

$143Kprogram expense

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Filing history

Every return on file.

Year	Revenue	Expenses	Change	Filing
FY2025 Latest	$280K	$186K	-25%	990 PDF
FY2024 Viewing	$373K	$170K	+205%	990 PDF
FY2023	$122K	$176K	-53%	990 PDF
FY2022	$259K	$218K	-23%	990 PDF
FY2021	$334K	$157K	+48%	990 PDF
FY2020	$226K	$136K		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

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.

Part VIII · Statement of revenue $372,584 across 7 lines filed

VIII-1h Total contributions, gifts and grants$0

VIII-3 Investment incomeExcluded from tax $107,197$107,197

VIII-5 Royalties$0

VIII-6 Net rental income or loss$0

VIII-7 Net gain or loss on sales of assetsRelated to mission $265,387$265,387

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $265,387 · Excluded from tax $107,197$372,584

Part IX · Statement of functional expenses $169,624 across 31 lines filed

IX-1 Grants to domestic organizations$0

IX-2 Grants to domestic individuals$0

IX-3 Grants and assistance to foreign recipients$0

IX-4 Benefits paid to or for members$0

IX-5 Pay of current officers, directors and key staff$0

IX-6 Pay of disqualified persons$0

IX-7 Other salaries and wages$0

IX-8 Pension plan contributions$0

IX-9 Other employee benefits$0

IX-10 Payroll taxes$0

IX-11a Management fees$0

IX-11b Legal feesPrograms $425$425

IX-11c Accounting feesPrograms $2,500$2,500

IX-11d Lobbying fees$0

IX-11e Professional fundraising fees$0

IX-11f Investment management feesManagement $24,173$24,173

IX-11g Other fees for servicesPrograms $27,440$27,440

IX-12 Advertising and promotionPrograms $58,534$58,534

IX-13 Office expensesPrograms $444$444

IX-14 Information technology$0

IX-15 Royalties$0

IX-16 OccupancyPrograms $44,788$44,788

IX-17 TravelPrograms $2,407$2,407

IX-18 Travel and entertainment for public officials$0

IX-19 Conferences, conventions and meetings$0

IX-20 Interest$0

IX-21 Payments to affiliates$0

IX-22 Depreciation, depletion and amortizationPrograms $4,810$4,810

IX-23 InsuranceManagement $2,588$2,588

IX-24 Other expenses (24a–d)Programs $1,515$1,515

IX-24e All other expenses$0

IX-25 Total functional expensesPrograms $142,863 · Management $26,761 · Fundraising $0$169,624

Part X · Balance sheet $4,302,428 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $24,170$2,583

X-2 Savings and temporary cash investmentsStart of year $56,381$76,188

X-3 Pledges and grants receivable$0

X-4 Accounts receivable$0

X-8 Inventories for sale or use$0

X-9 Prepaid expenses and deferred charges$0

X-10c Land, buildings and equipment, netStart of year $24,277$19,467

X-11 Publicly traded securitiesStart of year $3,976,818$4,200,164

X-12 Other securities$0

X-13 Program-related investments$0

X-14 Intangible assets$0

X-15 Other assetsStart of year $4,025$4,026

X-16 Total assetsStart of year $4,085,671$4,302,428

X-25 Other liabilities$1,057

X-26 Total liabilitiesStart of year $0$1,057

X-27 Net assets without donor restrictionsStart of year $4,085,671$4,301,371

X-32 Total net assets or fund balancesStart of year $4,085,671$4,301,371

X-33 Total liabilities and net assetsStart of year $4,085,671$4,302,428

Part XI · Reconciliation of net assets $4,301,371 net assets at year end

XI-1 Total revenue$372,584

XI-2 Total expenses$169,624

XI-3 Revenue less expenses$202,960

XI-4 Net assets at start of year$4,085,671

XI-5 Net unrealized gains (losses) on investments$12,740

XI-10 Net assets at end of year$4,301,371

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2024IRS

Classification, formation year, addressIRS Business Master File

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Grace Dee May INC FY2024 filing

Before you give

Status and standing

Where the money goes

Statement of Functional Expenses

Finances

Summary of the Filing

Balance Sheet

Statement of Revenue

Financial Metrics

Leadership and pay

Officers, Directors & Key Employees

Governance & Policies

Mission and programs

Where the work happens

Filing history

Schedules filed Part IV

Full filing: Form 990 for FY2024

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