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← GRACE INSTITUTE INC

Form 990 for tax year 2022

Filed by GRACE INSTITUTE INC.

Totals

Total revenue
$619,332
Total expenses
$664,087
Contributions and grants received
$619,332
Grants paid
$403,830
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$199,659
Total liabilities, end of year
$5,295
Net assets or fund balances, end of year
$194,364
Program services expenses (Part IX)
$622,811
Management and general expenses
$23,362
Fundraising expenses
$17,914
Program service expenses (Part III)
$622,811

Program services were 93.8% 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

    $619,332

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $127,200 · program services $127,200

  • 3 · Grants to foreign organizations and individuals

    total $276,630 · program services $276,630

  • 5 · Compensation of officers, directors and key employees

    total $98,544 · program services $83,762 · management and general $7,391 · fundraising $7,391

  • 7 · Other salaries and wages

    total $83,608 · program services $71,067 · management and general $6,270 · fundraising $6,271

  • 10 · Payroll taxes

    total $6,195 · program services $5,266 · management and general $465 · fundraising $464

  • 11c · Fees: accounting

    total $7,300 · program services $0 · management and general $7,300 · fundraising $0

  • 12 · Advertising and promotion

    total $13 · program services $0 · management and general $0 · fundraising $13

  • 13 · Office expenses

    total $5,879 · program services $4,997 · management and general $441 · fundraising $441

  • 14 · Information technology

    total $1,376 · program services $1,170 · management and general $103 · fundraising $103

  • 17 · Travel

    total $37,999 · program services $37,618 · management and general $237 · fundraising $144

  • 19 · Conferences, conventions and meetings

    total $2,207 · program services $1,876 · management and general $166 · fundraising $165

  • 22 · Depreciation, depletion and amortization

    total $525 · program services $0 · management and general $525 · fundraising $0

  • 24a · Other expenses: Donor Care

    total $1,835 · program services $0 · management and general $0 · fundraising $1,835

  • 24b · Other expenses: Equipment & Supplies

    total $176 · program services $150 · management and general $13 · fundraising $13

  • 24c · Other expenses: Meals

    total $1,819 · program services $1,195 · management and general $0 · fundraising $624

  • 24d · Other expenses: Staff Development

    total $5,723 · program services $4,865 · management and general $429 · fundraising $429

  • 24e · All other expenses

    total $7,058 · program services $7,015 · management and general $22 · fundraising $21

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $227,354 · end of year $187,191

  • 2 · Savings and temporary cash investments

    beginning of year $15,180 · end of year $12,205

  • 10a · Land, buildings and equipment: cost or other basis

    $4,552

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,289

  • 10c · Land, buildings and equipment, net

    beginning of year $788 · end of year $263

  • 25 · Other liabilities

    beginning of year $4,203 · end of year $5,295

  • 27 · Net assets without donor restrictions

    beginning of year $239,119 · end of year $194,364

Mission and programs · 2022

Mission

To train, equip, and prepare pastors in under resourced areas of the world with theological education.

  • Delivery system- hundreds of pastors and church leaders in very rural areas receive theological training through donated technological delivery systems such as tablets, computers, projectors, etc.

    Expenses $311,405 · Grants $201,915

  • Learning conferences- The Grace Institute and ministry partners provide learning conferences to the pastors to help them understand how to better study and facilitate learning communities.

    Expenses $311,406 · Grants $201,915

As filed on the 2022 return.

Listed in Part VII

  • Will Savell

    President

    Total calculated
    $91,731
    From this org
    $65,731
    From related orgs
    $0
    Other
    $26,000
    Hours/week
    40

  • Blake Dickens

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Scot Sherwood

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Zack Graham

    Board Member

    Total calculated
    $0
    Hours/week
    1

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
2022
Filed
6 May 2023
IRS schema version
2022v5.0
Source object
202343109349301944

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