Grace Cares Foundation
EIN: 582421520 · Spartanburg, SC · NTEE: T20
| Metric | Value |
|---|---|
| Total Revenue | $286K |
| Total Expenses | $262K |
| Net Assets | $104K |
Is Grace Cares Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Grace Cares Foundation
Grace Cares Foundation (EIN: 582421520) is a nonprofit organization based in Spartanburg, SC, classified under NTEE code T20. The organization reported total revenue of $286K and total assets of $104K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Grace Cares Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Grace Cares Foundation is a small nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 20.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $233K |
| Total Expenses | $262K |
| Surplus / Deficit | $-29,121 |
| Total Assets | $104K |
| Total Liabilities | $1 |
| Net Assets | $104K |
| Operating Margin | -12.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 4.7 months |
Financial Health Grade: B
In 2023, Grace Cares Foundation reported a deficit of $29K with expenses exceeding revenue, holds 4.7 months of operating reserves (adequate), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Grace Cares Foundation's revenue has grown at a compound annual growth rate (CAGR) of 20.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.4% | -12.9% | -22.0% |
| 2022 | +0.4% | +53.6% | -36.9% |
| 2021 | +22.1% | +60.7% | +14.4% |
| 2020 | +63.8% | +281.8% | +48.7% |
| 2019 | +15.3% | -89.4% | -31.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Grace Cares Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Grace Cares Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $29K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Grace Cares Foundation
Is Grace Cares Foundation a legitimate charity?
Grace Cares Foundation (EIN: 582421520) is a registered tax-exempt nonprofit based in South Carolina. It has 10 years of IRS 990 filings on record. Total revenue: $286K. No red flags identified. Financial health grade: B.
How does Grace Cares Foundation spend its money?
Grace Cares Foundation reported $286K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Grace Cares Foundation tax-deductible?
Grace Cares Foundation is registered as a tax-exempt nonprofit (EIN: 582421520). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Grace Cares Foundation located?
Grace Cares Foundation is headquartered in Spartanburg, South Carolina and files with the IRS under EIN 582421520. It is classified under NTEE code T20.
How many years of IRS 990 filings does Grace Cares Foundation have?
Grace Cares Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $286K in total revenue.
Filing History
IRS 990 filing history for Grace Cares Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Grace Cares Foundation's revenue has grown by 878.7%, moving from $24K to $233K. Total assets decreased by 82.8% over the same period, from $602K to $104K. Total functional expenses rose by 900.3%, from $26K to $262K. In its most recent filing year (2023), Grace Cares Foundation reported a deficit of $29K, with expenses exceeding revenue. The organization holds $1 in liabilities against $104K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $104K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $233K | $262K | $104K | $1 | — | — |
| 2022 | $223K | $301K | $133K | $1 | — | View 990 |
| 2021 | $222K | $196K | $210K | $1 | — | View 990 |
| 2020 | $182K | $122K | $184K | $1 | — | — |
| 2019 | $111K | $32K | $124K | $1 | — | View 990 |
| 2015 | $96K | $302K | $179K | $1 | — | View 990 |
| 2014 | $139K | $269K | $385K | $1 | — | View 990 |
| 2013 | $98K | $153K | $514K | $1 | — | View 990 |
| 2012 | $38K | $71K | $570K | $0 | — | View 990 |
| 2011 | $24K | $26K | $602K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $233K, expenses of $262K, and assets of $104K (revenue +4.4% year-over-year).
- 2022: Revenue of $223K, expenses of $301K, and assets of $133K (revenue +0.4% year-over-year).
- 2021: Revenue of $222K, expenses of $196K, and assets of $210K (revenue +22.1% year-over-year).
- 2020: Revenue of $182K, expenses of $122K, and assets of $184K (revenue +63.8% year-over-year).
- 2019: Revenue of $111K, expenses of $32K, and assets of $124K (revenue +15.3% year-over-year).
- 2015: Revenue of $96K, expenses of $302K, and assets of $179K (revenue -30.8% year-over-year).
- 2014: Revenue of $139K, expenses of $269K, and assets of $385K (revenue +42.3% year-over-year).
- 2013: Revenue of $98K, expenses of $153K, and assets of $514K (revenue +155.3% year-over-year).
- 2012: Revenue of $38K, expenses of $71K, and assets of $570K (revenue +61.2% year-over-year).
- 2011: Revenue of $24K, expenses of $26K, and assets of $602K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Grace Cares Foundation:
Data Sources and Methodology
This transparency report for Grace Cares Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.