Grace Lifecare Inc

Organization Overview

Grace Lifecare Inc is located in Morganton, NC. The organization was established in 1992. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 12/2021, Grace Lifecare Inc employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Lifecare Inc 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 Lifecare Inc generated $10.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $10.8m during the year ending 12/2021. While expenses have increased by 2.9% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

COMMITTED TO IMPROVING THE HEALTH OF OUR COMMUNITIES WITH EXCELLENT & COMPASSIONATE CARE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION OPERATES A RETIREMENT COMMUNITY CONSISTING OF INDEPENDENT LIVING QUARTERS, A HEALTH FACILITY, AND OTHER AMENITIES FOR RETIREMENT LIVING.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $720,773
All other contributions, gifts, grants, and similar amounts not included above$22,901
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$743,674
Total Program Service Revenue$9,673,063
Investment income $343,525
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $16,345
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $10,776,607

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Grace Lifecare Inc has recieved totaling $8,672.

Awarding OrganizationAmount
Blue Ridge Healthcare Foundation Inc

Morganton, NC

PURPOSE: SUPPORT

$8,672
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$26,771
Other Expense$26,771

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