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Nonprofiteer
← FRIENDS OF GRACE

Form 990 for tax year 2024

Filed by FRIENDS OF GRACE.

Totals

Total revenue
$1,210,432
Total expenses
$1,213,605
Contributions and grants received
$1,179,539
Grants paid
$1,078,810
Program service revenue
$900
Investment income
$29,993
Other revenue
$0
Total assets, end of year
$482,566
Total liabilities, end of year
$21,798
Net assets or fund balances, end of year
$460,768
Program services expenses (Part IX)
$1,205,164
Management and general expenses
$8,441
Fundraising expenses
$0
Program service expenses (Part III)
$1,205,164

Program services were 99.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,179,539

  • 2a · Program service revenue: Credit card rebate

    total $900 · related or exempt $900

  • 3 · Investment income

    total $1,003 · related or exempt $1,003

  • 7a · Gross sales of assets other than inventory

    securities $28,990

  • 7c · Gain or loss

    securities $28,990

  • 7d · Net gain or loss

    total $28,990 · related or exempt $28,990

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $87,000 · program services $87,000

  • 2 · Grants to domestic individuals

    total $991,810 · program services $991,810

  • 5 · Compensation of officers, directors and key employees

    total $36,000 · program services $36,000

  • 11c · Fees: accounting

    total $1,060 · management and general $1,060

  • 13 · Office expenses

    total $4,969 · management and general $4,969

  • 14 · Information technology

    total $1,874 · management and general $1,874

  • 19 · Conferences, conventions and meetings

    total $1,500 · program services $1,500

  • 23 · Insurance

    total $538 · management and general $538

  • 24a · Other expenses: Training expenses

    total $29,680 · program services $29,680

  • 24b · Other expenses: Misison trip expenses

    total $59,174 · program services $59,174

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $357,101 · end of year $395,883

  • 2 · Savings and temporary cash investments

    beginning of year $6,804 · end of year $13,406

  • 11 · Investments: publicly traded securities

    beginning of year $62,124 · end of year $73,277

  • 17 · Accounts payable and accrued expenses

    end of year $21,798

  • 31 · Retained earnings, endowment or other funds

    beginning of year $426,029 · end of year $460,768

Mission and programs · 2024

Mission

To reach people with the gospel of Jesus Christ through medical and dental treatments, English Bible training classes, theological training and to support seminary study at different parts of the world

Activities or mission (Part I)

To reach people with the gospel of Jesus Christ through missionary work and to support seminary study overseas

  • Train and promote Biblical teaching to the public

    Expenses $1,205,164

As filed on the 2024 return.

Listed in Part VII

  • Stephen Tang

    CEO

    Total calculated
    $36,000
    From this org
    $36,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • William Lui

    President CFO

    Total calculated
    $0
    Hours/week
    30

  • Adam Wong

    Vice President

    Total calculated
    $0
    Hours/week
    10

  • Anthony Wong

    Secretary

    Total calculated
    $0
    Hours/week
    10

  • An Ly

    Board member

    Total calculated
    $0
    Hours/week
    5

  • Joel Ngo

    Board member

    Total calculated
    $0
    Hours/week
    5

  • Johnney Lin

    Board member

    Total calculated
    $0
    Hours/week
    5

  • Alex Ng

    Board member

    Total calculated
    $0
    Hours/week
    5

  • Jack Cao

    Board member

    Total calculated
    $0
    Hours/week
    5

  • David Ng

    Board member

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
8 October 2025
IRS schema version
2024v5.2
Source object
202522819349301512

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