The Grace and Mercy Foundation Inc
The Grace and Mercy Foundation Inc is a private foundation based in New York, NY. Founded in 2006, it partners with nonprofit organizations across the U.S. and around the world, supporting work related to mercy, education, family, work, and church.
Key facts about The Grace and Mercy Foundation Inc
In short: The Grace and Mercy Foundation Inc gave $21.7M across 71 grants in 2024 (avg $306K), mostly in Colorado. 21% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 20-8050779
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $21,741,015
- Grants made (2024)
- 71
- Average grant
- $306,211
- Median grant
- $100,000
- New grantees (estimate)
- 21% first-time grantees (15 of 71, 2024)
- Total assets
- $495,216,982
- Primary geography
- Colorado (59% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Full details ↓
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$495.2M
+0.0% YoY
Annual Giving
$21.7M
+0.4% YoY
Grant Count
71
-10.1% YoY
Avg Grant Size
$306K
+11.8% YoY
Under IRS private-foundation payout rules, The Grace and Mercy Foundation Inc reported a distributable amount of $34.4M for 2024 — the minimum it must pay out in qualifying distributions.
Is The Grace and Mercy Foundation Inc open to new grantees?
21%
first-time grantees, 2024
In 2024, 15 of 71 grantees (21%) were first-time recipients. First grants averaged $130K; repeat grants $353K. How we count
Medians: $50K first-time, $100K repeat.
- 72% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (−13%). Method
- In 2024 it paid out 134% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The foundation says it is guided by a belief in the power of grace and mercy and is focused on supporting the poor and oppressed and helping people learn, grow, and serve. Its five areas of support are:
- Mercy: Organizations serving survivors of trafficking, refugees, the working poor, justice-involved people rebuilding their lives, and people experiencing homelessness.
- Education: K–12 schools, seminaries, colleges, parachurch organizations, and arts and sports organizations.
- Family: Organizations providing nurturing, learning, and healthy programs for families.
- Work: Organizations helping people reach their potential at work and become leaders in their communities.
- Church: Local churches, church communities, and church denominations.
The foundation’s grantees illustrate some of the work it supports. Prison Fellowship International describes its mission as transforming the lives of prisoners, their families, and victims through a global network of ministry partners. Beacon Christian Community Health Center describes itself as a faith-based health center providing whole-person care regardless of patients’ economic status. Youth for Christ USA says it involves young people in Bible studies and fellowship activities focused on Christian values and life skills.
The foundation also operates two learning initiatives. Just Show Up Book Club brings people together to read, listen, and discuss books, with the stated aim of fostering community learning for people who might otherwise lack access, time, or inclination to participate. Public Reading of Scripture helps people read and learn together about the Christian Bible.
Grantmaking
In 2024, the foundation reported 71 grants totaling $21,741,015. Grant amounts ranged from $3,000 to $11,932,315, with a median grant of $100,000.
Ready to take the next step with The Grace and Mercy Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation says it partners with nonprofit organizations across the U.S. and around the world. In 2024, the largest shares of grant dollars by recipient state were Colorado (59%), New York (10%), New Mexico (5%), New Jersey (4%), and the District of Columbia (4%).
Grant Distribution by State
Share of 2024 grant dollars across all 71 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $21.6M (2023) to $31.7M (2022). In 2024 it made 71 grants totaling $21.7M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Christian Community Foundation ($11.9M). Together the top 10 received $16.0M.
Grant Size Distribution
372 grants across all recorded years
The most common grant size was in the $100–250K range: 116 grants of 372 (31%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Christian Community Foundation Colorado Springs, CO | Community | $11,932,315 |
| Hosanna (DBA Faith Comes by Hearing) Albuquerque, NM | Religious | $1,000,000 |
| Prison Fellowship International Washington, DC | Humanitarian | $700,000 |
| Youth for Christ USA Inc Englewood, CO | Education | $450,000 |
| Luis Palau Association Portland, OR | Religious | $401,000 |
| Holy Name Medical Center Foundation Teaneck, NJ | Community | $400,000 |
| Beacon Christian Community Health Center Staten Island, NY | Community | $315,000 |
| Fellowship of Christian Athletes Kansas City, MO | Education | $305,000 |
| In Grace Mission Fullerton, CA | Religious | $270,000 |
| Manhattan Christian Academy New York, NY | Education | $250,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2024 | $495,216,982 | $53,086,707 | $60,546,988 | $21,741,015 |
| 2023 | $495,165,728 | $34,184,388 | $56,945,043 | $21,643,889 |
| 2022 | $510,517,361 | −$40,912,250 | $64,432,200 | $31,705,149 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $495,216,982 | $495,165,728 | $510,517,361 |
| Revenue | $53,086,707 | $34,184,388 | $-40,912,250 |
| Expenses | $60,546,988 | $56,945,043 | $64,432,200 |
| Qualifying Distributions | $45,952,802 | $43,814,432 | $51,566,442 |
| Net Investment Income | $39,254,207 | $20,689,813 | — |
| Distributable Amount | $34,400,422 | $30,288,404 | $28,288,672 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
Officers and directors listed on the 2024 filing are Becky Hwang, Vice President and Director; Sumi Kim, President; Imhyuk Yi, Treasurer; Diana Pae, Chief Operating Officer; Andrew Mills, Co-Chairman and Director; Kayla Brown, Secretary; and Sung Kook Hwang, Co-Chairman and Director.
The Grace and Mercy Foundation Inc is led by Sumi Kim, President since 2023 (on filings since 2020); 5 of 7 officers listed in 2024 are compensated.
Officers on the 2024 filing
Sumi Kim
President
Co-President → President, 2023
On filings since 2020
40 hrs/week
$650K (2020) → $871K (2024)
Andrew Mills
Co-Chairman & Director
On filings since 2020
24 hrs/week
$227K (2021) → $980K (2024)
Sung Kook Hwang
Co-Chairman & Director
Director → Co-Chairman & Director, 2021
On filings since 2020
10 hrs/week
No compensation reported
Becky Hwang
Vice President & Director
On filings since 2020
2 hrs/week
No compensation reported
Diana Pae
Chief Operating Officer
On filings since 2021
40 hrs/week
$471K (2021) → $1.3M (2024)
Imhyuk Yi
Treasurer
On filings since 2022
40 hrs/week
$538K (2022) → $598K (2024)
Kayla Brown
Secretary
On filings since 2022
40 hrs/week
$375K (2022) → $468K (2024)
Former officers (3)
- Former: Christopher McPadden (2020–2022) — Co-President
- Former: Patrick Halligan (2020–2022) — Treasurer
- Former: Daniel Sanford (2021–2022) — Secretary
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $1.3M, to Diana PAE (Chief Operating Officer). 5 officers or directors reported compensation on that filing.
Contact
Mailing address: 888 Seventh Ave, New York, NY 10106
Phone: (212) 984-8877
Website: https://graceandmercy.org
Frequently asked questions about The Grace and Mercy Foundation Inc
How much does The Grace and Mercy Foundation Inc give each year?
The Grace and Mercy Foundation Inc gave $21.7M across 71 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $21.6M across 79 grants.
What is The Grace and Mercy Foundation Inc's typical grant size?
The Grace and Mercy Foundation Inc's median grant in 2024 was $100,000, and its average grant was $306,211, across 71 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Grace and Mercy Foundation Inc that year got $130K on average.
Where does The Grace and Mercy Foundation Inc give grants?
The Grace and Mercy Foundation Inc gives mostly in Colorado: 59% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was New York (10%). The most frequent recipient cities were New York, NY (11 grants), Colorado Springs, CO (5 grants), Orlando, FL (3 grants) and Grand Rapids, MI (3 grants).
Does The Grace and Mercy Foundation Inc give general operating support?
Not in 2024: none of the 71 grants with a stated purpose on The Grace and Mercy Foundation Inc's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Education" (28 grants), "Humanitarian" (16 grants) and "Community" (13 grants).
Who are The Grace and Mercy Foundation Inc's largest grantees?
The Grace and Mercy Foundation Inc's largest 2024 grantees include Christian Community Foundation ($11,932,315), Hosanna (DBA Faith Comes by Hearing) ($1,000,000) and Prison Fellowship International ($700,000), according to its 2024 IRS Form 990-PF. Together they received 63% of its itemized 2024 grant dollars.
How large is The Grace and Mercy Foundation Inc?
The Grace and Mercy Foundation Inc reported $495.2M in total assets on its 2024 IRS Form 990-PF. It paid out $46.0M in qualifying distributions that year, against a required minimum of $34.4M (roughly 5% of its investment assets).
What does The Grace and Mercy Foundation Inc fund?
The foundation says it is guided by a belief in the power of grace and mercy and is focused on supporting the poor and oppressed and helping people learn, grow, and serve. Its five areas of support are: See mission & focus areas ↑
How do I apply for a grant from The Grace and Mercy Foundation Inc?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Grace and Mercy Foundation Inc's EIN?
The Grace and Mercy Foundation Inc's EIN (Employer Identification Number) is 20-8050779. IRS Form 990 filing data is available on this page for 2020–2024.
Does The Grace and Mercy Foundation Inc accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Here's the math on researching The Grace and Mercy Foundation Inc by hand.
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