Grace House Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 202023995 ✦ Rockville, MD ✦ Designated as a 501(c)(3)

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Overview

What is Grace House Inc?

Grace House Inc is a nonprofit organization situated in Rockville, Maryland, specifically at 11400 Rockville Pike STE 500. Their primary mission is to provide assisted living accommodation for low- and moderate-income elderly individuals who require support due to frailty. The organization strives to offer a secure and comfortable environment for its residents, ensuring they receive the necessary care and assistance.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 64% (Two-Star out of Four Stars)

Grace House Inc has received a Two-Star rating from Charity Navigator, reflecting some challenges in accountability and finance. While the organization maintains a fully independent board and has established good governance policies such as conflict of interest and whistleblower protections, it falls short in providing transparent financial statements and posting required documents on its website.

On the positive side, Grace House Inc demonstrates a strong commitment to program expenses, with an impressive program expense ratio of 89.58%. This indicates that a significant portion of the funds is directed towards its charitable activities rather than administrative costs. Additionally, the organization has no reported material diversion of assets, which is a positive aspect of its financial management.

However, the lack of financial statements and missing documentation on the nonprofit's website are significant weaknesses that hinder overall transparency and trust. The high liabilities to assets ratio of 94.65% raises concerns about financial stability. Overall, while Grace House Inc has strengths in governance and program focus, it needs to improve its financial transparency to enhance its rating and public trust.


This AI summary has been generated from information found on Charity Navigator.

Is Grace House Inc legitimate?

Grace House Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grace House Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here

What is the mission statement of Grace House Inc?

Grace House Inc is committed to providing an assisted living residence for low-income and moderately frail elderly individuals. Their mission is to offer a supportive environment where these elderly persons can live with dignity and receive necessary care. By doing so, Grace House Inc aims to enhance the quality of life for these individuals, ensuring they receive the care they need and deserve. The organization's activities are centered around providing a secure and comfortable living space, along with essential support services to help elderly residents maintain their independence and well-being.

Who is the CEO of Grace House Inc?

Leila A Finucane is the Director of Grace House Inc. The CEO's salary of Grace House Inc is $0 and their total compensation is $410,053.

What is the revenue of Grace House Inc?

Grace House Inc's revenue in 2022 was $2,479,685.

Who are the executives of Grace House Inc and what are their salaries?

There 3 volunteers at Grace House Inc.


Here are 10 key members and their salaries (Grace House Inc's CEO's salary is $0 and their total compensation is $410,053):


Julie Smith (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rev Daniel Carson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Terry Farrell (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Edward Creskoff (Secretary (Outgoing))
  • Compensation: $0
  • Related: $134,038
  • Other: $16,157
Jacqueline R Smedley (Vice President)
  • Compensation: $0
  • Related: $244,362
  • Other: $29,431
Leila A Finucane (President & Ceo)
  • Compensation: $0
  • Related: $364,094
  • Other: $45,959
Sarah O'Rielly (Secretary (Incoming))
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeffrey Blackwell (Asst Secretary)
  • Compensation: $0
  • Related: $197,403
  • Other: $35,776
Michelle M Limeres (Treasurer)
  • Compensation: $0
  • Related: $214,496
  • Other: $38,157
John D Spencer (Former _ Sr Vp Thru 5/21)
  • Compensation: $0
  • Related: $149,665
  • Other: $26,588
Where can I find the form 990 for Grace House Inc?

Grace House Inc's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Grace House Inc

Grace House Inc, a nonprofit organization, is dedicated to providing an assisted living residence for low- and moderate-income frail elderly persons. This mission is carried out with the aim of offering a supportive environment for this vulnerable group, ensuring their needs are met with care and dignity. The residence serves as a shelter and a community for these individuals, providing them with the necessary assistance they require to live comfortably and independently. By focusing on low- and moderate-income frail elderly persons, Grace House Inc is committed to making quality care accessible to a broad section of society, ensuring that everyone has the opportunity to age with dignity and respect.

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Impact




August, 2024

Grace House Inc provides essential support and housing for low- and moderate-income frail elderly individuals in Rockville, MD. Their impact is evident in the improved quality of life and security they offer to this vulnerable population. By offering assisted living services tailored to the specific needs of the elderly, Grace House Inc ensures that these individuals have a safe and comfortable environment to live in. The organization's commitment to providing housing for those in need contributes significantly to the well-being of the community, fulfilling a crucial social need and improving the overall standard of living for the elderly residents they serve.




This information is meant to be a general summary of Grace House Inc. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$2,479,685 (2022)
Expenses
$2,526,011 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: -$4,113
  • Program Service Revenue: $2,288,723
  • Gross Receipts: $2,484,919

Assets and Liabilities:

  • Total Assets: $4,068,494
  • Total Liabilities: $3,811,295
  • Net Assets: $257,199

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

RENT REVENUE - HOUSING

Revenue

$2,285,839

OTHER HOUSING REVENUE

Revenue

$2,884

Organization Details

Founding Year

2004

Principal Officer

Leila A Finucane

Main Address

11400 ROCKVILLE PIKE STE 505, ROCKVILLE, MD, 20852

NTEE Category

Code: L00 - Housing

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