Gracewater EIN 82-4425191

Gracewater FY2023 filing

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Drills water wells in Africa to spread Christian teachings. For fiscal year 2023 it reported $270K in revenue, $314K in expenses, and $53K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Yazoo City, MS
Filings
5 on file (2020–2023)
Revenue
$270KFY2023
Expenses
$314K
Net assets
$53K
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  82-4425191 Public charity (501(c)(3)) Yazoo City, MS
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Drills water wells in Africa to spread Christian teachings.
Leadership
Nick King · President
Money in and out
$270K revenue, $314K expenses
Bottom line
98% program efficiency
Where the money goes · FY2023
Total revenue
$270K
Pt VIII · Ln 12
Total expenses
$314K
Pt IX · Ln 25
Net assets
$53K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$44K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.02
Program efficiency
98%
of spending reaches programs
Operating runway
2.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
-16%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$270K
FY2023▲ +50%
Expenses
$314K
FY2023▲ +169%
Total assets
$53K
FY2023▼ -77%
Total liabilities
$0
FY2023
Total revenue
$270K
Pt VIII · Ln 12
Total expenses
$314K
Pt IX · Ln 25
Net assets
$53K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$44K
Total assetsPt X · Ln 16$53K
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

2 program services account for $309K of program spending, described in the organization's own filed words · FY2023.
01

Through gracewater, we partner with local churches who are affected with a water crisis. Our team drills water wells to meet the communities need for clean water while also spreading the gospel of jesus christ.

$274Kprogram expense
02

Grace institute is a program where we train orphans in the trade of farming. These young men are recommended to the program by pastors who gracewater has partnered with in drilling water wells. The young men come to the grace institute farm for 12-18 months and learn farming skills and are discipled by our chaplain.

$35Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGracewater
EINHdr · item D82-4425191
Principal addressHdr · item CYazoo City, MS
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMS
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20)
Ruling yearIRS BMFMay 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$270K
Total revenueLn 12$270K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.02
Program services98%$309K
Management & general2%$5K
Total functional expensesLn 25$314K

Balance Sheet

Part X · end of year
CashLn 1$53K
Total assetsLn 16$53K
Total liabilitiesLn 26$0
Total net assetsLn 32$53K
Months of cash on handcomputed2.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $53K · Operating expenses/yr $314K
2.0 months
Where the money goes
Program services
Program services $309K · Total expenses $314K
98%
Management & General
Management & general $5K · Total expenses $314K
2%
Fundraising
Fundraising $0 · Total expenses $314K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $270K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $270K · Total revenue $270K
100%
Government reliance
Government grants — · Total revenue $270K
Earned-income share
Program service revenue $0 · Total revenue $270K
0%
Investment reliance
Investment income $0 · Total revenue $270K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $314K
0%
Growth & trend
Revenue growth (YoY)
This year $270K · Prior year $180K
+50%
Net-asset trend (YoY)
End of year $53K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $270K · Expenses $314K
-16%
Liabilities-to-Assets
Total liabilities — · Total assets $53K
Net-asset ratio
Net assets $53K · Total assets $53K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $53K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Nick King · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $314K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $314K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 98%
Overhead ratio 2%
Fundraising cost ratio 0%
Revenue growth 50%
Accounting fee ratio 0.9%

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.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$30K
Grants paid · 2 grants · $30K · 2023–2023
Brookwood Baptist ChurchFY2023$20,000
Fair Havens Ministries INCAL · FY2023$10,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$442K revenue · ⤓ 990 PDF
FY2023$270K revenue · viewing · ⤓ 990 PDF
FY2022$180K revenue · ⤓ 990 PDF
FY2021$158K revenue · ⤓ 990 PDF
FY2020$155K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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