Totals
- Total revenue
- $502,362
- Total expenses
- $483,353
- Contributions and grants received
- $502,362
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $471,978
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $471,978
- Program services expenses (Part IX)
- $483,353
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $483,353
Program services were 100.0% 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.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$0
-
1f · All other contributions, gifts and grants
$502,362
-
1g · Noncash contributions included above
$70,000
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: contributions included on line 1c
$0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $84,399 · program services $84,399
-
7 · Other salaries and wages
total $163,934 · program services $163,934
-
9 · Other employee benefits
total $171,749 · program services $171,749
-
10 · Payroll taxes
total $0
-
11b · Fees: legal
total $700 · program services $700
-
11c · Fees: accounting
total $8,333 · program services $8,333
-
12 · Advertising and promotion
total $1,735 · program services $1,735
-
13 · Office expenses
total $8,430 · program services $8,430
-
14 · Information technology
total $5,964 · program services $5,964
-
16 · Occupancy
total $8,244 · program services $8,244
-
17 · Travel
total $6,343 · program services $6,343
-
23 · Insurance
total $9,013 · program services $9,013
-
24e · All other expenses
total $14,509 · program services $14,509
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $293,079 · end of year $89,366
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
beginning of year $15,212 · end of year $60,000
-
4 · Accounts receivable
beginning of year $94,100 · end of year $132,520
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$190,092
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $278,946 · end of year $190,092
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $65,667
-
18 · Grants payable
beginning of year $282,701
-
27 · Net assets without donor restrictions
beginning of year $320,248 · end of year $211,924
-
28 · Net assets with donor restrictions
beginning of year $12,721 · end of year $260,054
Mission and programs · 2024
Mission
Grace Mar builds stronger more resilient communities of color using workforce development and minority business ownership as a catalyst.
Activities or mission (Part I)
Grace Mar Services Inc builds stronger more reslient communities of color using workforce development and minority business ownership as a catalyst.
-
We successfully completed the third year of the YouthBuild program.
Expenses $147,265 · Revenue $121,803
-
In addition, we added and upgraded our online training platform enabling our agency to train over 100 individuals along with our YouthBuild students in several areas including, Construction and Construction Maintenance, Generative AI, Microsoft Office Suites and Customer Service.
Expenses $326,998 · Revenue $365,409
-
We successfully moved our first fathers into our transitional home located at 322 Dare Drive
Expenses $9,090 · Revenue $15,150
As filed on the 2024 return.
Listed in Part VII
-
Kenneth Smith
President
- Total calculated
- $144,500
- From this org
- $40,000
- From related orgs
- $104,500
- Other
- $0
- Hours/week
- 50 + 10 related
Schedule J breakdown matched by us
- Base
- $40,000 + $104,500 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $40,000 + $104,500 related
-
Grace Blake Smith
Vice President
- Total calculated
- $85,000
- From this org
- $45,000
- From related orgs
- $40,000
- Other
- $0
- Hours/week
- 40 + 10 related
Schedule J breakdown matched by us
- Base
- $45,000 + $40,000 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $45,000 + $40,000 related
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Health or social club dues or initiation fees
- 3 · Approval by the board or compensation committee
Answered no
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- Kenneth Smith and Grace Smith gym membership was paid which was a total of $1300 for the year
- Schedule J, Part I, Line 1b
- The organization paid for gym memberships for Kenneth Smith and Grace Smith, who are husband and wife, at an annual combined cost of $1,300. These memberships were treated as taxable fringe benefits for compensation reporting purposes. The memberships were provided to support overall wellness and improve performance given their full-time leadership responsibilities within the organization. No other personal benefits of this nature were provided.
- Schedule J, Part I, Line 3
- The board approved the CEO's pay in 2019 of $40,000 per year and it has not changed since then.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 November 2025
- IRS schema version
- 2024v5.0
- Source object
- 202543219349325979
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