Graceful Solutions INC: Nonprofit Profile, Financials & Form 990 (EIN 45-5611737)

Revenue by fiscal year
FY2021	$27K
FY2022	$441K

Expenses by fiscal year
FY2021	$119K
FY2022	$548K

Net assets by fiscal year
FY2021	−$77K
FY2022	−$185K

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022.

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

Where the money goes

93 cents of each dollar spent went to programs.

93%

Program services 93% · $510K Management & general 7% · $38K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation

Rhett Boudreaux

Director

$0Pt VII · Sec A

Denny Clark

Director

$0Pt VII · Sec A

Steve Downey

Director

$0Pt VII · Sec A

Lauri Hunter

Director

$0Pt VII · Sec A

Rob Ippoloito

Treasurer

$0Pt VII · Sec A

Eric Johnson

Director

$0Pt VII · Sec A

Rex Ware

Chairman

$0Pt VII · Sec A

Leslie Warren

Secretary/Vi

$0Pt VII · Sec A

See Graceful Solutions INC executive salaries →

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
Loans to or from officersSch L · Pt II1 listed

Programs and updates

Connects groups to create safe, affordable housing for seniors, veterans, and those with special needs.

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2 programs · $510K · in their own filed words · FY2021

01

Construction AND/OR renovation of low income housing.

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 45-5611737) · Dispute this line

$398Kprogram expense

02

Promotion of aging in place and affordable design alternatives and the construction of aging in place prototype and actual units.

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 45-5611737) · Dispute this line

$113Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$441K

Ln 12

Fees for servicesLn 2g$450K

Gifts and grantsLn 1h$2K

Investment incomeLn 3$6

Money outPt IX

$548K

Ln 25

Programscol B$510K

Managementcol C$38K

Owns and owesPt X

−$185K

net assets · Ln 32

Cash and savingsLn 1–2$3K

Total assetsLn 16$1.2M

LiabilitiesLn 26$1.4M

PeoplePt VI, VII

9

listed · VII A

PaidVII A0

Voting boardVI 1a9

IndependentVI 1b9

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2K

Fees for servicesLn 2g$450K

Investment incomeLn 3$6

Total revenueLn 12$441K

Assets in detailPt X, end of year

CashLn 1$3K

Cash and savings togetherLn 1–2$3K

Inventories for sale or useLn 8$99K

Land, buildings, equipmentLn 10c$329K

Intangible assetsLn 14$4K

Other assetsLn 15$754K

Total assetsLn 16$1.2M

LiabilitiesLn 26$1.4M

Net assetsLn 32−$185K

OperationsPt I, VI

EmployeesI 54

Fiscal year endsHeaderJune

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 FY22	End FY22
Cash and savingsLn 1–2	$8K	$3K
Land, buildings, equipmentLn 10c	$336K	$329K
Total assetsLn 16	$752K	$1.2M
LiabilitiesLn 26	$829K	$1.4M
Net assetsLn 32	−$77K	−$185K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$43K	$43K
Payroll taxesLn 10	$4K	$4K
Legal feesLn 11b	$520	$520
Accounting feesLn 11c	$11K		$11K
Other fees for servicesLn 11g	$2K	$540	$2K
Advertising and promotionLn 12	$3K	$3K
Office expensesLn 13	$5K	$1K	$3K
Information technologyLn 14	$2K	$2K	$224
OccupancyLn 16	$31K	$16K	$16K
InterestLn 20	$28K	$28K
InsuranceLn 23	$4K	$2K	$2K
Other expenses (24a–d)Ln 24	$414K	$410K	$4K
All other expensesLn 24e	$200	$200
Total functional expensesLn 25	$548K	$510K	$38K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2022 Latest ViewingFiled with the IRS Jul 24, 2023	$441K	$548K	−$107K	−$185K	990 PDF
FY2021Filed with the IRS May 19, 2022	$27K	$119K	−$93K	−$77K	990 PDF

Schedules filed Part IV

I · Grants O · Explanations

See the full FY2022 990

Part I · Summary $440,940 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,760$1,600

I-9 Program service revenuePrior year $48,542$450,395

I-10 Investment incomePrior year −$28,159$6

I-11 Other revenuePrior year $4,600−$11,061

I-12 Total revenuePrior year $26,743$440,940

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $31,171$47,161

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $88,168$500,981

I-18 Total expensesPrior year $119,339$548,142

I-19 Revenue less expensesPrior year −$92,596−$107,202

Part VI · Governance 9 of 9 board members independent, 4 to look at

VI-1a Voting members of the governing body9

VI-1b Independent voting members9

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 $440,940 across 7 lines filed

VIII-1f All other contributions, gifts and grants$1,600

VIII-1h Total contributions, gifts and grants$1,600

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $450,395$450,395

VIII-3 Investment incomeRelated to mission $6$6

VIII-6 Net rental income or lossExcluded from tax −$17,062−$17,062

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,001$6,001

VIII-12 Total revenueRelated to mission $456,402 · Excluded from tax −$17,062$440,940

Part IX · Statement of functional expenses $548,142 across 13 lines filed

IX-7 Other salaries and wagesPrograms $43,322$43,322

IX-10 Payroll taxesPrograms $3,839$3,839

IX-11b Legal feesPrograms $520$520

IX-11c Accounting feesManagement $10,875$10,875

IX-11g Other fees for servicesPrograms $540 · Management $1,504$2,044

IX-12 Advertising and promotionPrograms $3,209$3,209

IX-13 Office expensesPrograms $1,456 · Management $3,200$4,656

IX-14 Information technologyPrograms $2,077 · Management $224$2,301

IX-16 OccupancyPrograms $15,743 · Management $15,743$31,486

IX-20 InterestPrograms $27,582$27,582

IX-23 InsurancePrograms $2,188 · Management $2,188$4,376

IX-24 Other expenses (24a–d)Programs $409,655 · Management $4,077$413,732

IX-24e All other expensesPrograms $200$200

IX-25 Total functional expensesPrograms $510,331 · Management $37,811 · Fundraising $0$548,142

Part X · Balance sheet $1,189,059 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $8,248$3,478

X-8 Inventories for sale or useStart of year $98,992$98,992

X-10c Land, buildings and equipment, netStart of year $335,754$329,470

X-14 Intangible assetsStart of year $3,698$3,503

X-15 Other assetsStart of year $304,862$753,616

X-16 Total assetsStart of year $751,554$1,189,059

X-17 Accounts payable and accrued expensesStart of year $49,908$71,835

X-22 Loans from officers and insidersStart of year $200,209$222,059

X-23 Secured mortgages and notes payableStart of year $574,889$1,060,685

X-25 Other liabilitiesStart of year $4,000$19,134

X-26 Total liabilitiesStart of year $829,006$1,373,713

X-27 Net assets without donor restrictionsStart of year −$77,452−$184,654

X-32 Total net assets or fund balancesStart of year −$77,452−$184,654

X-33 Total liabilities and net assetsStart of year $751,554$1,189,059

Part XI · Reconciliation of net assets −$184,654 net assets at year end

XI-1 Total revenue$440,940

XI-2 Total expenses$548,142

XI-3 Revenue less expenses−$107,202

XI-4 Net assets at start of year−$77,452

XI-10 Net assets at end of year−$184,654

Form 990 e-file FY2022 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Graceful Solutions INC

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 Graceful Solutions INC

By the numbers

Filing history

Schedules filed Part IV