Grace Exceeding INC: FY2024 Nonprofit Profile & Form 990 (EIN 81-3571335)

Revenue by fiscal year
FY2022	$4.3M
FY2024	$10.3M
FY2025	$11.2M

Expenses by fiscal year
FY2022	$3.3M
FY2024	$4.8M
FY2025	$6.0M

Net assets by fiscal year
FY2022	$1.4M
FY2024	$6.7M
FY2025	$8.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2022.

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

Where the money goes

85 cents of each dollar spent went to programs.

85%

15%

Program services 85% · $4.1M Management & general 15% · $720K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Victor Akinyemi

Chairman

$0Pt VII · Sec A

See Grace Exceeding INC 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

Empowering individuals with disabilities to live successfully in their communities through resources and care.

Provided by the organization

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1 program · $4.1M · in their own filed words · FY2023

01

During the fiscal year grace exceeding, inc served 126 clients, providing quality care that enhanced the quality of life for the population that we served.

$4.1Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$10.3M

Ln 12

Fees for servicesLn 2g$10.3M

Other incomeLn 4–11$3K

Investment incomeLn 3$596

Money outPt IX

$4.8M

Ln 25

Programscol B$4.1M

Managementcol C$720K

Owns and owesPt X

$6.7M

net assets · Ln 32

Cash and savingsLn 1–2$1.3M

Total assetsLn 16$6.7M

LiabilitiesLn 26$0

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b1

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$10.3M

Investment incomeLn 3$596

Other incomeLn 4–11$3K

Total revenueLn 12$10.3M

Assets in detailPt X, end of year

CashLn 1$1.3M

Cash and savings togetherLn 1–2$1.3M

Land, buildings, equipmentLn 10c$157K

Other assetsLn 15$5.3M

Total assetsLn 16$6.7M

LiabilitiesLn 26$0

Net assetsLn 32$6.7M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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 FY24	End FY24
Cash and savingsLn 1–2	$1.3M	$1.3M
Land, buildings, equipmentLn 10c	$158K	$157K
Total assetsLn 16	$1.5M	$6.7M
LiabilitiesLn 26	$81K	$0
Net assetsLn 32	$1.4M	$6.7M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$1.6M	$1.4M	$242K
Payroll taxesLn 10	$124K	$105K	$19K
Accounting feesLn 11c	$20K	$20K
Other fees for servicesLn 11g	$1.6M	$1.6M
Advertising and promotionLn 12	$159		$159
Office expensesLn 13	$63K		$63K
OccupancyLn 16	$266K		$266K
TravelLn 17	$51K	$51K
Depreciation, depletion and amortizationLn 22	$52K		$52K
InsuranceLn 23	$48K		$48K
Other expenses (24a–d)Ln 24	$856K	$856K
All other expensesLn 24e	$108K	$78K	$30K
Total functional expensesLn 25	$4.8M	$4.1M	$720K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$11.2M	$6.0M	$5.1M	$8.8M	990 PDF
FY2024 Viewing	$10.3M	$4.8M	$5.5M	$6.7M	990 PDF
FY2023	Not on file
FY2022	$4.3M	$3.3M	$942K	$1.4M	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 $10,300,744 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $4,285,628$10,297,327

I-10 Investment incomePrior year $0$596

I-11 Other revenuePrior year $0$2,821

I-12 Total revenuePrior year $4,285,628$10,300,744

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $1,081,920$1,739,357

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $2,219,426$3,084,656

I-18 Total expensesPrior year $3,301,346$4,824,013

I-19 Revenue less expensesPrior year $984,282$5,476,731

Part VI · Governance 1 of 1 board members independent, 4 to look at

VI-1a Voting members of the governing body1

VI-1b Independent voting members1

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 $10,300,744 across 4 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,297,327$10,297,327

VIII-3 Investment incomeExcluded from tax $596$596

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,821$2,821

VIII-12 Total revenueRelated to mission $10,300,148 · Unrelated business $0 · Excluded from tax $596$10,300,744

Part IX · Statement of functional expenses $4,824,013 across 12 lines filed

IX-7 Other salaries and wagesPrograms $1,373,389 · Management $242,363$1,615,752

IX-10 Payroll taxesPrograms $105,064 · Management $18,541$123,605

IX-11c Accounting feesPrograms $20,000$20,000

IX-11g Other fees for servicesPrograms $1,620,195$1,620,195

IX-12 Advertising and promotionManagement $159$159

IX-13 Office expensesManagement $63,361$63,361

IX-16 OccupancyManagement $265,739$265,739

IX-17 TravelPrograms $51,153$51,153

IX-22 Depreciation, depletion and amortizationManagement $52,069$52,069

IX-23 InsuranceManagement $47,905$47,905

IX-24 Other expenses (24a–d)Programs $856,116$856,116

IX-24e All other expensesPrograms $78,170 · Management $29,789$107,959

IX-25 Total functional expensesPrograms $4,104,087 · Management $719,926 · Fundraising $0$4,824,013

Part X · Balance sheet $6,746,605 assets, 9 lines filed

X-1 Cash, non-interest-bearingStart of year $1,342,494$1,274,143

X-10c Land, buildings and equipment, netStart of year $157,750$156,910

X-15 Other assetsStart of year $0$5,315,552

X-16 Total assetsStart of year $1,500,244$6,746,605

X-25 Other liabilitiesStart of year $4,507$0

X-26 Total liabilitiesStart of year $81,226$0

X-27 Net assets without donor restrictionsStart of year $1,419,018$6,746,605

X-32 Total net assets or fund balancesStart of year $1,419,018$6,746,605

X-33 Total liabilities and net assetsStart of year $1,500,244$6,746,605

Part XI · Reconciliation of net assets $6,746,605 net assets at year end

XI-1 Total revenue$10,300,744

XI-2 Total expenses$4,824,013

XI-3 Revenue less expenses$5,476,731

XI-4 Net assets at start of year$1,419,018

XI-8 Prior period adjustments−$149,144

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$6,746,605

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

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Grace Exceeding INC FY2024 filing

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