Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2002.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
39 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
3 people listed on the 990; $109K paid to officers and key staff (Part VII, Section A).
Fred Chay’s $109K as President is at the 91st percentile of top reported officer pay among 2133 $100K–1M religion 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 · 1 named individual · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Fred Chay | $108,944 | $54,408 | $4,200 | $4,012 | $52,750 |
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.
See Grace Line 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
Programs and updates
Provides speakers for churches and mentors individuals for Christian ministry.
Questions for Grace Line INC
Your first name shows with your question. Grace Line INC answers here, for everyone.
Grace Line's president, Dr. Chay, taught a weekly adult Sunday Bible Class at Grace Bible Church in Dallas,TX. Video and audio recordings of these presentations have been made available on YouTube the www.GraceLine.net.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 86-1040503) · Dispute this lineGrace Line consulted with Grace School of Theology regarding educational strategies and curriculum along with several speaking engagements including podcasts and the National Conference of the Free Grace Alliance.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 86-1040503) · Dispute this lineA weekly email devotional "Friday with Fred" continued for the eleventh year, and subscription numbers continued to increase.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 86-1040503) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $184K | $62K |
| InvestmentsLn 11–13 | $1.9M | $2.0M |
| Land, buildings, equipmentLn 10c | $3K | $3K |
| Total assetsLn 16 | $2.1M | $2.1M |
| LiabilitiesLn 26 | $373 | $2K |
| Net assetsLn 32 | $2.1M | $2.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | |||
| Grants to domestic individualsLn 2 | $0 | |||
| Grants and assistance to foreign recipientsLn 3 | $0 | |||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $37K | $32K | $5K | |
| Pay of disqualified personsLn 6 | $109K | $109K | ||
| Other salaries and wagesLn 7 | $0 | |||
| Pension plan contributionsLn 8 | $34K | $27K | $7K | |
| Other employee benefitsLn 9 | $0 | |||
| Payroll taxesLn 10 | $18K | $15K | $4K | |
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $0 | |||
| Accounting feesLn 11c | $0 | |||
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $0 | |||
| Other fees for servicesLn 11g | $96 | $77 | $19 | |
| Advertising and promotionLn 12 | $0 | |||
| Office expensesLn 13 | $125 | $100 | $25 | |
| Information technologyLn 14 | $0 | |||
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $0 | |||
| TravelLn 17 | $0 | |||
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $0 | |||
| InterestLn 20 | $0 | |||
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $640 | $512 | $128 | |
| InsuranceLn 23 | $0 | |||
| Other expenses (24a–d)Ln 24 | $7K | $5K | $1K | |
| All other expensesLn 24e | $691 | $553 | $138 | |
| Total functional expensesLn 25 | $207K | $81K | $126K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Nov 17, 2025 | $228K | $207K | $21K | $2.1M | 990 PDF |
| FY2023Filed with the IRS Nov 13, 2024 | $360K | $154K | $206K | $2.1M | 990 PDF |
| FY2022Filed with the IRS Nov 15, 2023 | $324K | $119K | $204K | $2.2M | 990 PDF |
| FY2021Filed with the IRS Nov 15, 2022 | $327K | $108K | $219K | $2.0M | 990 PDF |
| FY2020Filed with the IRS Nov 15, 2021 | $244K | $192K | $52K | $1.8M | 990 PDF |
Schedules filed Part IV
See the full FY2024 990
Part I · Summary $227,973 revenue, 12 lines filed
Part VI · Governance 2 of 2 board members independent, 4 to look at
Part VIII · Statement of revenue $227,973 across 9 lines filed
Part IX · Statement of functional expenses $207,032 across 31 lines filed
Part X · Balance sheet $2,092,411 assets, 21 lines filed
Part XI · Reconciliation of net assets $2,089,935 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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