Grace Charity Foundation Inc
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
52
-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.
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
States
Cities
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
| 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
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.
What is Grace Charity Foundation Inc's EIN?
Grace Charity Foundation Inc's EIN (Employer Identification Number) is 20-8080868. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Grace Charity Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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