Grace Charity Foundation Inc

RANDOLPH, NJ EIN: 20-8080868 Website

Grace Charity Foundation Inc. is a private foundation based in Randolph, New Jersey. The organization has been in operation since 2007 and operates as a 501(c)(3) entity with EIN 20-8080868.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$4.6M

-10.2% YoY

Annual Giving

$229K

-53.7% YoY

Grant Count

-20.0% YoY

Avg Grant Size

$4K

-42.1% YoY

Under IRS private-foundation payout rules, Grace Charity Foundation Inc reported a distributable amount of $286K for 2024 — the minimum it must pay out in qualifying distributions.

Research compiled by Grantable AI from public sources. Last updated April 2026.

Mission & Focus Areas

The foundation primarily funds religious, charitable, scholarship, religious missionary, and education grants. Primary funding focus areas include:

Christian nonprofits and churches
Church repairs
Arts grants for nonprofits
Education
Philanthropy, voluntarism, and grantmaking
Human services

Grantmaking

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Geographic Focus

Where this funder awards grants

The foundation primarily funds organizations in New Jersey, New York, and Georgia.

Grant Distribution by State

New Jersey $605K (52%)

New York $328K (28%)

Virginia $91K (8%)

California $46K (4%)

Georgia $29K (2%)

Washington $27K (2%)

Pennsylvania $13K (1%)

North Carolina $9K (1%)

+8 more states

States

California Florida Georgia Illinois Massachusetts Maryland Michigan North Carolina New Jersey Nevada New York Oregon Pennsylvania Tennessee Virginia Washington

Cities

AlohaAnaheimAndoverAnn ArborAtlantaBaysideBel AirBergen FieldBloomfieldBridgewaterBrooklynCentrevilleCharlotteChicagoClarksvilleCollege PointConshohockenDoylestownDuluthEast Meadow

Financial History

Multi-year comparison from IRS filings

As of December 31, 2023:

Total assets: $5,127,070
Total revenues: $38,270
Total expenses: $718,979
Investment income and dividends: $162,521
Number of employees: 0

As of 2024 (most recent filing):

Total assets: $4,602,159
Total giving: $229,011

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$4,602,159	$5,127,070	$5,807,523
Revenue	$646,157	$38,270	$-373,060
Expenses	$421,682	$718,979	$371,244
Qualifying Distributions	$250,236	$518,823	$225,563
Net Investment Income	$475,137	—	—
Distributable Amount	$285,968	$283,153	$307,390

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

209 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include America Wheat Mission ($20,000), Sebit Church ($20,000), Kumc of Koinonia ($17,000).

Recipient	Purpose	Amount
AHL FOUNDATION NEW YORK, NY	CHARITABLE	$16,200
AMERICA WHEAT MISSION TEANECK, NJ	RELIGIOUS MISSIONARY	$20,000
ANTIOCH CHURCH OF EDMONTON RANDOLPH, NJ	RELIGIOUS	$2,400
ANTIOCH CHURCH OF PHILADELPHIA CONSHOHOCKEN, PA	RELIGIOUS	$1,913
AWCA TEANECK, NJ	CHARITABLE	$10,000
CALGARY ALL NATION COMMUNITY CHURCH RANDOLPH, NJ	RELIGIOUS	$2,250
CALGARY KOREAN PRESBYTERIAN CHURCH RANDOLPH, NJ	RELIGIOUS	$2,500
CALIFORNIA STATE POLYTECHNIC UNIVER POMONA, CA	SCHOLARSHIP	$3,000
CARTER BURDEN NETWORK NEW YORK, NY	CHARITABLE	$10,000
CHODAE COMMUNITY CHURCH NORWOOD, NJ	RELIGIOUS	$2,500

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
JINSOO KIM	PRESIDENT	4	—
SEONG KIM	DIRECTOR	1	—
STEPHEN KIM	DIRECTOR	1	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What does Grace Charity Foundation Inc fund?

The foundation primarily funds religious, charitable, scholarship, religious missionary, and education grants. Primary funding focus areas include: • Christian nonprofits and churches • Church repairs • Arts grants for nonprofits • Education • Philanthropy, voluntarism, and grantmaking • Human services

How do I apply for a grant from Grace Charity Foundation Inc?

**Grant Activity:** • Made 39 grants in 2023, totaling $256,320 • Typical award range: $300–$56,500 • Recent notable grants include: • Praise Presbyterian Church: $50,000 (2023) • Ahl Foundation: $38,000 (2023) • Gala Art Center: $24,500 (2023) **Recent Grantee:** • Princeton Theological Seminary

Where does Grace Charity Foundation Inc make grants?

The foundation primarily funds organizations in New Jersey, New York, and Georgia.

What size grants does Grace Charity Foundation Inc award?

In 2024, Grace Charity Foundation Inc awarded 52 grants totaling $229K — an average of about $4K per grant, based on its IRS Form 990 filings.

How much is Grace Charity Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Grace Charity Foundation Inc reported a distributable amount of $286K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.