Grace Works Jersey City Inc
Grace Works Jersey City Inc: Declining Revenue, High Administrative Costs, and Limited Program Spending Raise Concerns
EIN: 222885442 · Jersey City, NJ · NTEE: T20 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $250K |
| Total Expenses | $278K |
| CEO/Top Officer Pay | $0 |
| Net Assets | $2.5M |
| Transparency Score | 45/100 |
Is Grace Works Jersey City Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Grace Works Jersey City Inc
Grace Works Jersey City Inc (EIN: 222885442) is a nonprofit organization based in Jersey City, NJ, classified under NTEE code T20. The organization reported total revenue of $250K and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Grace Works Jersey City Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Grace Works Jersey City Inc is a small nonprofit that has been operating for 11 years, with 7 years of IRS 990 filings on record (2015–2023). Revenue has grown at a compound annual rate of -33.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $153K |
| Total Expenses | $278K |
| Surplus / Deficit | $-124,472 |
| Total Assets | $2.5M |
| Total Liabilities | $8K |
| Net Assets | $2.5M |
| Operating Margin | -81.2% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 108.5 months |
Financial Health Grade: B
In 2023, Grace Works Jersey City Inc reported a deficit of $124K with expenses exceeding revenue, holds 108.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 7 years of filings (2015–2023), Grace Works Jersey City Inc's revenue has declined at a compound annual growth rate (CAGR) of -33.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +56.5% | -27.1% | -4.7% |
| 2022 | -20.9% | +40.4% | -9.7% |
| 2021 | +57.4% | -12.5% | -4.8% |
| 2020 | -67.6% | +13.0% | -7.3% |
| 2019 | +547.4% | -41.6% | -5.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2015 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Grace Works Jersey City Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Grace Works Jersey City Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $124K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, suggesting no paid executives or officers.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Grace Works Jersey City Inc's IRS 990 filings:
- Zero program service expenses reported across all available years, raising questions about charitable purpose.
- Significant and consistent decline in revenue over the past eight years, from over $4M to $153K.
- Total expenses frequently exceed revenue, leading to a decrease in net assets.
- The organization holds substantial assets (over $2.2M in 2023) despite minimal operational activity and no program spending.
Strengths
The following positive indicators were identified for Grace Works Jersey City Inc:
- No reported executive compensation, which can be a positive for donor perception.
- Maintains a significant asset base, which could potentially be leveraged for future programming if the mission is re-evaluated.
Frequently Asked Questions about Grace Works Jersey City Inc
Is Grace Works Jersey City Inc a legitimate charity?
Grace Works Jersey City Inc (EIN: 222885442) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 45/100. It has 7 years of IRS 990 filings on record. Total revenue: $250K. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Grace Works Jersey City Inc spend its money?
Grace Works Jersey City Inc reported $250K in total revenue in IRS 990 filings. 7 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Grace Works Jersey City Inc tax-deductible?
Grace Works Jersey City Inc is registered as a tax-exempt nonprofit (EIN: 222885442). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Grace Works Jersey City Inc CEO make?
Grace Works Jersey City Inc's highest-compensated officer earns $0 annually. The organization reported $250K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Grace Works Jersey City Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Grace Works Jersey City Inc is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Grace Works Jersey City Inc located?
Grace Works Jersey City Inc is headquartered in Jersey City, New Jersey and files with the IRS under EIN 222885442. It is classified under NTEE code T20.
How many years of IRS 990 filings does Grace Works Jersey City Inc have?
Grace Works Jersey City Inc has 7 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 $250K in total revenue.
What does Grace Works Jersey City Inc do?
Grace Works Jersey City Inc is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Jersey City, New Jersey. It is classified under NTEE code T20.
How much revenue does Grace Works Jersey City Inc have?
Grace Works Jersey City Inc reported total revenue of $249,638. Based on 7 IRS 990 filings on record.
What are Grace Works Jersey City Inc's total assets?
Grace Works Jersey City Inc holds total assets of $2,273,955 as reported in IRS 990 filings.
Where is Grace Works Jersey City Inc located?
Grace Works Jersey City Inc is based in Jersey City, New Jersey.
What is Grace Works Jersey City Inc's EIN?
Grace Works Jersey City Inc's Employer Identification Number (EIN) is 222885442. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Grace Works Jersey City Inc?
Grace Works Jersey City Inc is classified under NTEE code T20 (Philanthropy, Voluntarism & Grantmaking).
Is Grace Works Jersey City Inc a registered 501(c)(3)?
Yes, Grace Works Jersey City Inc is recognized as a tax-exempt organization by the IRS. EIN: 222885442.
Does Grace Works Jersey City Inc file IRS Form 990?
Yes, Grace Works Jersey City Inc has 7 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Grace Works Jersey City Inc's revenue in 2023?
In the 202306 filing period, Grace Works Jersey City Inc reported total revenue of $153,235, total expenses of $277,707, and net assets of $2,510,209.
Is Grace Works Jersey City Inc's revenue growing or declining?
Grace Works Jersey City Inc's revenue is growing. Revenue went from $97,903 (202206) to $153,235 (202306), a +56.5% change. Based on 7 filings on record.
What is Grace Works Jersey City Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Grace Works Jersey City Inc covers tax period 202306. It shows revenue of $153,235, expenses of $277,707, total assets of $2,510,209, and liabilities of $7,775.
Is Grace Works Jersey City Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Grace Works Jersey City Inc shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 2 strengths noted.
What are the red flags for Grace Works Jersey City Inc?
The following concerns were identified: Zero program service expenses reported across all available years, raising questions about charitable purpose.. Significant and consistent decline in revenue over the past eight years, from over $4M to $153K.. Total expenses frequently exceed revenue, leading to a decrease in net assets.. The organization holds substantial assets (over $2.2M in 2023) despite minimal operational activity and no program spending.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Grace Works Jersey City Inc's strengths?
Positive indicators for Grace Works Jersey City Inc include: No reported executive compensation, which can be a positive for donor perception.. Maintains a significant asset base, which could potentially be leveraged for future programming if the mission is re-evaluated.. These findings are derived from AI analysis of the organization's financial filings.
How does Grace Works Jersey City Inc compensate executives?
Executive compensation is reported as $0 across all available filings, suggesting no paid executives or officers. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of 0% program service expenses and declining revenue, what is the current operational purpose of Grace Works Jersey City Inc, and how does it align with its nonprofit status?
The filings indicate that the organization's primary activities are administrative and asset management, rather than direct charitable programs. This raises questions about its ongoing qualification as a public charity if no program services are being delivered.
With total assets exceeding $2.2 million in 2023 and no program spending, what is the long-term strategy for these assets, and why are they not being utilized for charitable purposes?
The filings do not provide a clear strategy for the substantial assets. Without program spending, these assets appear to be held without direct application to a charitable mission, which could be a point of scrutiny for regulators and potential donors.
Filing History
IRS 990 filing history for Grace Works Jersey City Inc showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2015–2023), Grace Works Jersey City Inc's revenue has declined by 96.3%, moving from $4.2M to $153K. Total assets decreased by 35.2% over the same period, from $3.9M to $2.5M. Total functional expenses fell by 22.3%, from $358K to $278K. In its most recent filing year (2023), Grace Works Jersey City Inc reported a deficit of $124K, with expenses exceeding revenue. The organization holds $8K in liabilities against $2.5M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $2.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $153K | $278K | $2.5M | $8K | — | — |
| 2022 | $98K | $381K | $2.6M | $7K | — | View 990 |
| 2021 | $124K | $271K | $2.9M | $8K | — | View 990 |
| 2020 | $79K | $310K | $3.1M | $8K | — | View 990 |
| 2019 | $243K | $274K | $3.3M | $18K | — | View 990 |
| 2016 | $38K | $470K | $3.5M | $0 | — | View 990 |
| 2015 | $4.2M | $358K | $3.9M | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $153K, expenses of $278K, and assets of $2.5M (revenue +56.5% year-over-year).
- 2022: Revenue of $98K, expenses of $381K, and assets of $2.6M (revenue -20.9% year-over-year).
- 2021: Revenue of $124K, expenses of $271K, and assets of $2.9M (revenue +57.4% year-over-year).
- 2020: Revenue of $79K, expenses of $310K, and assets of $3.1M (revenue -67.6% year-over-year).
- 2019: Revenue of $243K, expenses of $274K, and assets of $3.3M (revenue +547.4% year-over-year).
- 2016: Revenue of $38K, expenses of $470K, and assets of $3.5M (revenue -99.1% year-over-year).
- 2015: Revenue of $4.2M, expenses of $358K, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Grace Works Jersey City Inc:
Data Sources and Methodology
This transparency report for Grace Works Jersey City Inc 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.