The Grace Foundation: FY2024 Nonprofit Profile & Form 990 (EIN 30-0837869)

Revenue by fiscal year
FY2020	$77K
FY2021	$138K
FY2022	$352K
FY2023	$235K
FY2024	$273K
FY2025	$235K

Expenses by fiscal year
FY2020	$55K
FY2021	$85K
FY2022	$365K
FY2023	$223K
FY2024	$206K
FY2025	$163K

Net assets by fiscal year
FY2020	$146K
FY2021	$250K
FY2022	$160K
FY2023	$259K
FY2024	$403K
FY2025	$656K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2014.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

Program services 87% · $179K Management & general 8% · $17K Fundraising 5% · $9K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation

Christie a Atwell

Board Member

$0Pt VII · Sec A

Nick Brong

Board Member

$0Pt VII · Sec A

Heather a Heaton

Secretary

$0Pt VII · Sec A

Kelly Horst MD

Board Member

$0Pt VII · Sec A

Christian L Baum MD

President

$0Pt VII · Sec A

E Paul Lindell MD

Board Member

$0Pt VII · Sec A

Peter Melsness

Board Member

$0Pt VII · Sec A

Scott Peloquin

Treasurer

$0Pt VII · Sec A

See The Grace 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 15aNo

Programs and updates

Provides financial support to Christian schools in Rochester.

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Provided by the organization

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3 programs · $179K · in their own filed words · FY2024

01

General fund grant committed to benefit students of rochester central lutheran school.

$172Kprogram expense

02

Grant to fund I.T. Or infrastructure projects for the clubhouse at rochester central lutheran school. People to benefits 400

$7Kprogram expense

03

Scholarship gbant committed to benefit students of rochester central lutheran school with tuition assistance. People to benefits 1-10

Pt IX · col B

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 · FY2021

Fidelity Investments Charitable Gift FundFY2021$20K

Total grants receivedfrom 1 funder$20K

Grants paid · 6 grants · $724K · 2020–2025

Rochester Centeral Lutheran SchoolFY2025$77,225

Rochester Centeral Lutheran SchoolFY2024$128,631

Rochester Centeral Lutheran SchoolFY2023$160,184

Rochester Centeral Lutheran SchoolFY2022$296,901

Rochester Central Lutheran School Association INCMN · FY2021$27,075

Rochester Central Lutheran School Association INCMN · FY2020$33,788

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$273K

Ln 12

Gifts and grantsLn 1h$138K

Fees for servicesLn 2g$112K

Investment incomeLn 3$24K

Money outPt IX

$206K

Ln 25

Programscol B$179K

Managementcol C$17K

Fundraisingcol D$9K

Owns and owesPt X

$403K

net assets · Ln 32

Cash and savingsLn 1–2$14K

Total assetsLn 16$1.1M

LiabilitiesLn 26$670K

PeoplePt VI, VII

10

listed · VII A

PaidVII A0

Voting boardVI 1a7

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$138K

Fees for servicesLn 2g$112K

Investment incomeLn 3$24K

Total revenueLn 12$273K

Assets in detailPt X, end of year

CashLn 1$2K

SavingsLn 2$13K

Cash and savings togetherLn 1–2$14K

InvestmentsLn 11–13$1.1M

Total assetsLn 16$1.1M

LiabilitiesLn 26$670K

Net assetsLn 32$403K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$17K	$14K
InvestmentsLn 11–13	$829K	$1.1M
Total assetsLn 16	$847K	$1.1M
LiabilitiesLn 26	$588K	$670K
Net assetsLn 32	$259K	$403K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$129K	$129K
Legal feesLn 11b	$8K	$7K	$2K
Accounting feesLn 11c	$600		$600
Investment management feesLn 11f	$4K		$4K
Advertising and promotionLn 12	$5K		$5K
Office expensesLn 13	$1K		$1K
Information technologyLn 14	$8K		$4K	$4K
InsuranceLn 23	$550		$550
Other expenses (24a–d)Ln 24	$50K	$44K		$6K
Total functional expensesLn 25	$206K	$179K	$17K	$9K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$235K	$163K	$72K	$656K	990 PDF
FY2024 Viewing	$273K	$206K	$67K	$403K	990 PDF
FY2023	$235K	$223K	$11K	$259K	990 PDF
FY2022	$352K	$365K	−$12K	$160K	990 PDF
FY2021	$138K	$85K	$53K	$250K	990 PDF
FY2020	$77K	$55K	$22K	$146K	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 $273,454 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $136,095$138,093

I-9 Program service revenuePrior year $82,272$111,759

I-10 Investment incomePrior year $16,172$23,602

I-11 Other revenue$0

I-12 Total revenuePrior year $234,539$273,454

I-13 Grants and similar amounts paidPrior year $160,184$128,631

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $62,935$77,469

I-18 Total expensesPrior year $223,119$206,100

I-19 Revenue less expensesPrior year $11,420$67,354

Part VI · Governance 7 of 7 board members independent, 4 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members7

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $273,454 across 6 lines filed

VIII-1b Membership dues$2,350

VIII-1f All other contributions, gifts and grants$135,743

VIII-1h Total contributions, gifts and grants$138,093

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $111,759$111,759

VIII-3 Investment incomeRelated to mission $23,602$23,602

VIII-12 Total revenueRelated to mission $135,361$273,454

Part IX · Statement of functional expenses $206,100 across 9 lines filed

IX-1 Grants to domestic organizationsPrograms $128,631$128,631

IX-11b Legal feesPrograms $6,786 · Management $1,696$8,482

IX-11c Accounting feesManagement $600$600

IX-11f Investment management feesManagement $3,626$3,626

IX-12 Advertising and promotionManagement $5,387$5,387

IX-13 Office expensesManagement $1,217$1,217

IX-14 Information technologyManagement $4,358 · Fundraising $3,566$7,924

IX-23 InsuranceManagement $550$550

IX-24 Other expenses (24a–d)Programs $43,887 · Fundraising $5,796$49,683

IX-25 Total functional expensesPrograms $179,304 · Management $17,434 · Fundraising $9,362$206,100

Part X · Balance sheet $1,072,553 assets, 9 lines filed

X-1 Cash, non-interest-bearingStart of year $152$1,550

X-2 Savings and temporary cash investmentsStart of year $16,735$12,804

X-11 Publicly traded securitiesStart of year $829,492$1,058,199

X-16 Total assetsStart of year $846,586$1,072,553

X-17 Accounts payable and accrued expensesStart of year $89$439

X-18 Grants payableStart of year $587,574$669,563

X-26 Total liabilitiesStart of year $587,663$670,002

X-32 Total net assets or fund balancesStart of year $258,923$402,551

X-33 Total liabilities and net assetsStart of year $846,586$1,072,553

Part XI · Reconciliation of net assets $402,551 net assets at year end

XI-1 Total revenue$273,454

XI-2 Total expenses$206,100

XI-3 Revenue less expenses$67,354

XI-4 Net assets at start of year$258,923

XI-5 Net unrealized gains (losses) on investments$76,274

XI-10 Net assets at end of year$402,551

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

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The Grace Foundation FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for The Grace Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV