Grace-Mar Services INC FY2023 filing

Tax-deductible

Charlotte, NC501(c)(3)Human ServicesEIN 80-0235887Revenue $225K in FY2023

On file with the IRSgracemar.org615 E 6th St Ste 116, 28202-2918 · Charlotte, NCTax-exempt since Jun 2010Publicly supported charity — 170(b)(1)(A)(vi)

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Grace Mar Services Inc builds stronger more reslient communities of color using workforce development and minority business ownership as a catalyst.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
$85K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
4 of 5
filings with a surplus
Average surplus $105K a year · 21% of revenue · last 5 filings
Fine: a surplus in 4 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
Pay to officers and key staff
$85K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$348K
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$225K
-62% vs prior year
Spent
$458K
To programs
69%
Net assets
$333K
By yearFY2020–FY2024
Revenue
$225K
FY2023▼ -62%
Tap a bar for its year
Revenue by fiscal year
FY2020$652K
FY2021$548K
FY2022$586K
FY2023$225K
FY2024$502K
Expenses
$458K
FY2023▲ +171%
Tap a bar for its year
Expenses by fiscal year
FY2020$485K
FY2021$395K
FY2022$169K
FY2023$458K
FY2024$483K
Net assets
$333K
FY2023▼ -85%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.7M
FY2022$2.3M
FY2023$333K
FY2024$472K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2010.

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% · $315K Management & general 31% · $143K

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

2 people listed on the 990; $85K paid to officers and key staff.

Part VII, Section A · reportable compensation
Vice President
$45,000Pt VII · Sec A
President
$40,000Pt VII · Sec A

Grace Blake Smith’s $45K as Vice President is at the 33rd percentile of top reported officer pay among 2168 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Grace Smith———$41,000$66,667
Grace Blake Smith$45,000$45,000$45,000——
Kenneth Smith$40,000$40,000$40,000$37,000$34,664

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers communities of color through job training and minority business support.

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Provided by the organization

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3 programs · $315K · in their own filed words · FY2023
01

We successfully completed the third year of the YouthBuild program. In addition, we added and upgraded our online training platform enabling our agency to train over 100 individuals along with our YouthBuild students in several areas including, Construction and Construction Maintenance, Generative AI, Microsoft Office Suites and Customer…

$281Kprogram expense
02

We successfully completed renovation on the YouthBuild home located at 322 Dare Drive Charlotte NC 28206 and had our first occupants to move into our transitional home for formerly incarcerated men.

$34Kprogram expense
03

successfully closed out YouthBuild program

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 · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$225K
Ln 12
Gifts and grantsLn 1h$225K
Money outPt IX
$458K
Ln 25
Programscol B$315K
Managementcol C$143K
Owns and owesPt X
$333K
net assets · Ln 32
Cash and savingsLn 1–2$293K
Total assetsLn 16$681K
LiabilitiesLn 26$348K
PeoplePt VI, VII
2
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$225K
Government grantsLn 1e$25K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$225K
Assets in detailPt X, end of year
CashLn 1$293K
Cash and savings togetherLn 1–2$293K
Land, buildings, equipmentLn 10c$279K
Total assetsLn 16$681K
LiabilitiesLn 26$348K
Net assetsLn 32$333K
OperationsPt I, VI
EmployeesI 57
VolunteersI 65
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$233K$293K
Land, buildings, equipmentLn 10c$324K$279K
Total assetsLn 16$2.3M$681K
LiabilitiesLn 26$0$348K
Net assetsLn 32$2.3M$333K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$62K$62K
Pay of disqualified personsLn 6$171K$171K
Other employee benefitsLn 9$350$350
Payroll taxesLn 10$11K$8K$3K
Management feesLn 11a$0
Legal feesLn 11b$265$265
Accounting feesLn 11c$61K$48K$13K
Other fees for servicesLn 11g$3K$3K
Advertising and promotionLn 12$15K$15K
Office expensesLn 13$5K$5K
Information technologyLn 14$6K$5K$2K
OccupancyLn 16$23K$23K
TravelLn 17$3K$2K$587
Travel and entertainment for public officialsLn 18$0
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$17K$17K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$61K$58K$3K$0
All other expensesLn 24e$8K$8K$656$0
Total functional expensesLn 25$458K$315K$143K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $502K$483K$19K$472K 990 PDF
FY2023 Viewing $225K$458K−$233K$333K 990 PDF
FY2022 $586K$169K$417K$2.3M 990 PDF
FY2021 $548K$395K$153K$1.7M 990 PDF
FY2020 $652K$485K$167K$1.5M 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 FY2023 990 (6 parts)
Part I · Summary $224,988 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $585,699$224,988
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $585,699$224,988
I-13 Grants and similar amounts paidPrior year $168,920$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$244,361
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$213,397
I-18 Total expensesPrior year $168,920$457,758
I-19 Revenue less expensesPrior year $416,779−$232,770
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $224,988 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$24,980
VIII-1f All other contributions, gifts and grants$200,008
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$224,988
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$224,988
Part IX · Statement of functional expenses $457,758 across 19 lines filed
IX-5 Pay of current officers, directors and key staffManagement $62,500$62,500
IX-6 Pay of disqualified personsPrograms $170,742$170,742
IX-9 Other employee benefitsManagement $350$350
IX-10 Payroll taxesPrograms $7,840 · Management $2,929$10,769
IX-11a Management fees$0
IX-11b Legal feesManagement $265$265
IX-11c Accounting feesPrograms $48,089 · Management $12,533$60,622
IX-11g Other fees for servicesManagement $2,610$2,610
IX-12 Advertising and promotionPrograms $15,080$15,080
IX-13 Office expensesManagement $4,659$4,659
IX-14 Information technologyPrograms $4,740 · Management $1,737$6,477
IX-16 OccupancyManagement $22,593$22,593
IX-17 TravelPrograms $2,449 · Management $587$3,036
IX-18 Travel and entertainment for public officials$0
IX-20 InterestManagement $3,548$3,548
IX-22 Depreciation, depletion and amortizationManagement $16,651$16,651
IX-23 InsuranceManagement $8,769$8,769
IX-24 Other expenses (24a–d)Programs $58,052 · Management $2,847 · Fundraising $0$60,899
IX-24e All other expensesPrograms $7,532 · Management $656 · Fundraising $0$8,188
IX-25 Total functional expensesPrograms $314,524 · Management $143,234 · Fundraising $0$457,758
Part X · Balance sheet $681,337 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $232,711$293,079
X-3 Pledges and grants receivableStart of year $1,632,162$15,212
X-4 Accounts receivableStart of year $101,000$94,100
X-10c Land, buildings and equipment, netStart of year $323,895$278,946
X-16 Total assetsStart of year $2,289,768$681,337
X-17 Accounts payable and accrued expenses$65,667
X-18 Grants payable$282,701
X-26 Total liabilitiesStart of year $0$348,368
X-27 Net assets without donor restrictionsStart of year $599,515$320,248
X-28 Net assets with donor restrictionsStart of year $1,690,253$12,721
X-32 Total net assets or fund balancesStart of year $2,289,768$332,969
X-33 Total liabilities and net assetsStart of year $2,289,768$681,337
Part XI · Reconciliation of net assets $332,969 net assets at year end
XI-1 Total revenue$224,988
XI-2 Total expenses$457,758
XI-3 Revenue less expenses−$232,770
XI-4 Net assets at start of year$2,289,768
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$48,089
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$1,772,118
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$332,969

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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