Is Three Graces Foundation Inc Legit?

Three Graces Foundation Inc exhibits a mixed financial picture. While the organization has shown significant growth in assets, reaching $50,097,976, its recent financial performance indicates a trend of expenses exceeding revenue. For instance, in 2023, expenses were $3,558,345 against revenues of $3,158,554, and similarly in 2022, expenses were $3,609,413 compared to revenues of $2,894,676. This consistent deficit spending, if not addressed, could impact long-term sustainability despite the substantial asset base. The organization's transparency appears strong regarding executive compensation, with 0% reported for officer compensation across all available filings. This suggests that the organization's leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is a positive indicator for donor trust. However, without a detailed breakdown of program, administrative, and fundraising expenses, a complete assessment of spending efficiency is challenging. The NTEE code T22 (Private Grantmaking Foundations) suggests its primary activity is grantmaking, which typically involves lower direct program delivery costs but requires efficient grant management. Given the available data, the foundation's financial health is supported by its substantial assets, but recent operational deficits warrant closer examination. The lack of reported officer compensation is a notable strength in transparency. To fully assess spending efficiency, more granular expense data would be beneficial, particularly to understand how the significant assets are being utilized to further its mission.