Overview
What is Grace-Mar Services Inc?
Grace-Mar Services Inc is a nonprofit organization committed to uplifting low-income and minority individuals and families. Their mission revolves around offering social capital, a vital resource that aids in social and economic mobility. This empowerment ultimately leads these communities towards self-sufficiency. They are dedicated to this cause, providing the necessary tools to foster independence and improve their overall well-being.
Official website here: www.gracemar.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - Overall score: 61%, earning a Two-Star out of Four Star rating. The rating indicates that while Grace-Mar Services Inc has a strong governance structure with 100% independent board members and no material diversion of assets, there are significant concerns in the area of financial transparency. The lack of financial statements available for review has notably impacted their score in accountability and finance.
Strengths of the organization include their robust board independence and the presence of strong policies for conflict of interest, whistleblowing, and document retention. These elements suggest a commitment to ethical governance. Additionally, they have a favorable liabilities to assets ratio, indicating financial stability.
However, the absence of posted financial statements and tax forms on their website raises questions about transparency and accountability. Their program expense ratio also points to a need for improvement, as only 53.76% of expenses are directed toward programs. Overall, the organization shows potential but must address its financial reporting practices to enhance its standing.
This AI summary has been generated from information found on Charity Navigator.
Is Grace-Mar Services Inc legitimate?
Grace-Mar Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grace-Mar Services 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
Official website here: www.gracemar.org
What is the mission statement of Grace-Mar Services Inc?
Grace-Mar Services Inc is committed to providing social capital to low-income and minority individuals and families, aiding them in their journey towards social and economic mobility. This mission ultimately aims to foster self-sufficiency among the recipients. The organization's activities focus on offering resources and support that facilitate this progress, thereby empowering these individuals to take charge of their lives.
Official website here: www.gracemar.org
Who is the CEO of Grace-Mar Services Inc?
Kenneth Smith is the President of Grace-Mar Services Inc.
Official website here: www.gracemar.org
What is the revenue of Grace-Mar Services Inc?
Grace-Mar Services Inc's revenue in 2022 was $585,699.
Official website here: www.gracemar.org
Who are the executives of Grace-Mar Services Inc and what are their salaries?
There are 7 employees and 7 volunteers at Grace-Mar Services Inc.
Here are 2 key members and their salaries:
- Compensation: $40,000
- Related: $40,000
- Other: $20,000
- Compensation: $45,000
- Related: $0
- Other: $0
Official website here: www.gracemar.org
Where can I find the form 990 for Grace-Mar Services Inc?
Grace-Mar Services Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gracemar.org
Learn more at the official website: www.gracemar.org
Mission Statement of Grace-Mar Services Inc
Grace-Mar Services Inc, as a mission-driven organization, exists to extend social capital to individuals and families living in low-income situations and within minority communities. This social capital serves as a vital tool in aiding these individuals and families in their pursuit of social and economic mobility, ultimately leading them towards self-sufficiency. By offering this support, Grace-Mar Services Inc seeks to empower its beneficiaries, enabling them to overcome the challenges they face and build a more stable, independent life for themselves.
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Impact
July, 2024
Grace-Mar Services Inc's impact can be seen in the tangible improvements in the lives of individuals and low-income families in Charlotte, NC. Through their provision of social capital, Grace-Mar Services Inc plays a crucial role in fostering social and economic mobility for those they serve. By empowering individuals with the resources and support they need, Grace-Mar Services Inc helps them move towards self-sufficiency, breaking cycles of poverty and opening up opportunities for a brighter future.
This information is meant to be a general summary of Grace-Mar Services 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $585,699
Assets and Liabilities:
- Total Assets: $2,289,768
- Total Liabilities: $0
- Net Assets: $2,289,768
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Organization Details
Founding Year
2009
Phone
(704) 909-6041Principal Officer
Kenneth Smith
Main Address
615 E 6th Street Suite 116, Charlotte, NC, 28202
Website
www.gracemar.orgNTEE Category
Code: P51 - Human services
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