Grace Farms Foundation
- Assets
- $126.2m
- Revenue
- $13.9m
- Investments
- $0.0
- Employees
- 0
- Location
- New Canaan, CT
- Founding
- 04/2011
- Data as of
- 12/2022
- EIN
- 27-1401401
Organization Overview
Grace Farms Foundation is located in New Canaan, CT. The organization was established in 2011. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Farms Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Grace Farms Foundation generated $13.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $15.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
SEE STATEMENT 12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Prince Chair/ceo | 50 | $0 | |
Michael Chen Vice Chair | 3 | $0 | |
Roy Medile Treasurer | 5 | $0 | |
Abigail Bangser Director | 1 | $0 | |
Anna Dyson Director (as Of 7/22) | 1 | $0 | |
Jay Fielden Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Securitas Security Systems Usa Inc | 12/30/22 | $780,048 |
Holland & Knight Llp | 12/30/22 | $190,503 |
Finn Partners Llc | 12/30/22 | $180,563 |
Robinson Cole | 12/30/22 | $163,460 |
On The Marc | 12/30/22 | $91,067 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $13,546,213 |
| Interest on Savings | $12,086 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $353,580 |
| Other Income | $0 |
| Total Revenue | $13,911,879 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $935,506 |
| Other employee salaries and wages | $6,246,830 |
| Pension plans, employee benefits | $1,187,228 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $2,502,033 |
| Occupancy | $1,105,600 |
| Travel, conferences, and meetings | $181,153 |
| Printing and publications | $2,371 |
| Other expenses | $1,830,233 |
| Total operating and administrative expenses | $15,708,241 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $15,758,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $633,437 |
| Savings and temporary cash investments | $2,328,877 |
| Net Accounts receivable | $12,500 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $87,022 |
| Prepaid expenses and deferred charges | $118,344 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $122,186,389 |
| Other assets | $863,884 |
| Total assets | $126,230,453 |
| Accounts payable and accrued expenses | $459,298 |
| Grants payable | $0 |
| Deferred revenue | $57,366 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $516,664 |
Grants Awarded
Over the last fiscal year, Grace Farms Foundation has awarded $978,179 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
YALE CENTER FOR FAITH & CULTURE PURPOSE: GENERAL SUPPORT | $50,000 |
UNCHAIN FOUNDATION PURPOSE: GENERAL SUPPORT | $928,179 |