Grace Foundation
- Assets
- $456.3k
- Revenue
- $138.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 10/2014
- Data as of
- 12/2021
- EIN
- 30-0837869
Organization Overview
Grace Foundation is located in Rochester, MN. The organization was established in 2014. According to its NTEE Classification (A01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace 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 12/2021, Grace Foundation generated $138.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $85.0k during the year ending 12/2021. While expenses have increased by 15.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SECURE, CULTIVATE, AND DISTRIBUTE SHORT-TERM AND LONG-TERM FINANCIAL RESOURCES ON BEHALF OF PARTNER CHRISTIAN SCHOOLS IN THE ROCHESTER AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT TO FUND I.T. OR INFRASTRUCTURE PROJECT FOR THE CLUBHOUSE AT ROCHESTER CENTRAL LUTHERAN SCHOOL. PEOPLE TO BENEFIT - 400.
SCHOLARSHIP GRANT COMMITTED TO BENEFIT STUDENTS OF ROCHESTER CENTRAL LUTHERAN SCHOOL WITH TUITION ASSISTANCE. PEOPLE TO BENEFIT - 1 TO 10.
GENERAL FUND GRANT COMMITTED TO BENEFIT STUDENTS OF ROCHESTER CENTRAL LUTHERAN SCHOOL. PEOPLE TO BENEFIT - 1 TO 6.
OTHER PROGRAM SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christie Atwell Secretary & Director | OfficerTrustee | 0 | $0 |
Peter Melsness Treasurer & Director | OfficerTrustee | 0 | $0 |
Chris Baum President & Director | OfficerTrustee | 0 | $0 |
Paul Lindell Director | Trustee | 0 | $0 |
Scott Peloquin Director | Trustee | 0 | $0 |
Brian Hanson Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,650 |
| Fundraising events | $39,900 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $114,593 |
| Total Program Service Revenue | $0 |
| Investment income | $6,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $17,318 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $138,445 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $64,171 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,266 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $99 |
| Advertising and promotion | $294 |
| Office expenses | $1,267 |
| Information technology | $5,336 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $84,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $49,672 |
| Pledges and grants receivable | $12,500 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $394,166 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $456,338 |
| Accounts payable and accrued expenses | $617 |
| Grants payable | $206,124 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $206,741 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $249,597 |
| Total liabilities and net assets/fund balances | $456,338 |
Grants Awarded
Over the last fiscal year, Grace Foundation has awarded $67,576 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Rochester, MN PURPOSE: GENERAL FUNDING | $33,788 |
Rochester, MN PURPOSE: GENERAL FUNDING | $33,788 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Grace Foundation has recieved totaling $5,046.
| Awarding Organization | Amount |
|---|---|
Tuchman Family Foundation Englewood, CO PURPOSE: GENERAL | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $46 |
Endowment Analysis
| Beg. Balance | $232,673 |
| Earnings | $57,531 |
| Net Contributions | $103,962 |
| Ending Balance | $394,166 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nisaa African Family Services Des Moines, IA | $90,468 | $525,899 |
Naturist Society Foundation Inc Oshkosh, WI | $176,157 | $385,243 |
Grace Foundation Rochester, MN | $456,338 | $138,445 |
River Arts Alliance Winona, MN | $41,222 | $0 |
North American Folk Music And Dance Alliance Inc Milwaukee, WI | $8,989 | $0 |
Badger Clark Foundation Sioux Falls, SD | $20,694 | $0 |
Suburbs For Equality Inc Menomonee Falls, WI | $0 | $0 |
Hmong International Friendship Association Saint Paul, MN | $0 | $0 |