The Grace and Mercy Foundation Inc
The Grace and Mercy Foundation Inc is a private grantmaking foundation established in 2007 and based in Manhattan, New York. As a 501(c)(3) organization, the foundation operates with a mission to support charitable, religious, and educational initiatives. The foundation maintains a global presence while maintaining particular focus on domestic priorities, with a staff of approximately 39-51 employees operating across multiple countries.
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.
Mission & Focus Areas
The foundation's mission is to support the poor and oppressed, and to help people learn, grow, and serve. The foundation's primary program areas include:
- Supporting the poor and oppressed
- Helping people learn, grow, and serve
- Public Reading of the Scriptures (PRS program)
- The Just Show Up (JSU) book club, which fosters community learning for those who might not otherwise have access, time, or inclination to participate
The foundation demonstrates a significant commitment to Christian organizations and faith-based initiatives, with a notable portion of funding directed toward religious and community-focused organizations.
Grantmaking
The Grace and Mercy Foundation distributes approximately $21.6 million annually in grants. The foundation has distributed over $180 million in grants across 200+ organizations worldwide since its inception.
Grant Range
$242,897
Average Grant
$242,897
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Geographic Focus
Where this funder awards grants
The foundation maintains a primary geographic focus on New York and New Jersey, though it operates with international reach. The foundation has presence and operations in multiple countries including South Korea, Nigeria, Luxembourg, Brazil, and Japan.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets and Giving (2024):
- Total assets: $495,165,728
- Total revenue: $53.1 million
- Total expenses: $60.5 million
- Total liabilities: $18,100
Assets and Giving (2023):
- Total assets: $495,165,728
- Total revenues: $34,184,388
- Total expenses: $56,945,043
- Total giving: $21,643,889
| 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 |
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
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Hosanna (dba Faith Comes by Hearing) ($1,000,000), Prison Fellowship International ($700,000), Luis Palau Association ($401,000).
| Recipient | Purpose | Amount |
|---|---|---|
| A ROCHA USA INC FREDERICKSBURG, TX | EDUCATION | $100,000 |
| AMBASSADORS FOR CHRIST INC PARADISE, PA | EDUCATION | $70,000 |
| ASIAN WOMEN'S CHRISTIAN ASSOCIATION TEANECK, NJ | COMMUNITY | $10,000 |
| ASSOCIATION FOR BIBLICAL HIGHER EDUCATION ORLANDO, FL | EDUCATION | $9,000 |
| BEACON CHRISTIAN COMMUNITY HEALTH CENTER STATEN ISLAND, NY | COMMUNITY | $315,000 |
| CALVIN THEOLOGICAL SEMINARY GRAND RAPIDS, MI | EDUCATION | $40,000 |
| CAMPUS CRUSADE FOR CHRIST ORLANDO, FL | EDUCATION | $115,000 |
| CARNEGIE HALL CORPORATION NEW YORK, NY | EDUCATION | $100,000 |
| CHESTERTON HOUSE ITHACA, NY | EDUCATION | $125,000 |
| CHICAGO HOPE ACADEMY CHICAGO, IL | EDUCATION | $50,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Key leadership includes:
- Diana Y Pae: Co-Chairman
- Daniel Cline: Managing Director
- Su Lee: Managing Director - Investments
- Evelyn Ayarza: Managing Director
- Ike Jin: Managing Director
- Sungin Chung: Senior Director, HCM Officer (Administration)
- Christopher Kim: Associate Director
- John David Leggett: Associate Director
- Evelyn Chang: Director
- Catie Shoemaker: Associate Director
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BECKY HWANG | VICE PRESIDENT AND DIRECTOR | 2 | — |
| SUMI KIM | PRESIDENT | 40 | $871,209 |
| IMHYUK YI | TREASURER | 40 | $597,618 |
| DIANA PAE | CHIEF OPERATING OFFICER | 40 | $1,325,856 |
| ANDREW MILLS | CO-CHAIRMAN AND DIRECTOR | 24 | $980,431 |
| KAYLA BROWN | SECRETARY | 40 | $468,055 |
| SUNG KOOK HWANG | CO-CHAIRMAN AND DIRECTOR | 10 | — |
Contact Information
- Address: 888 7th Avenue, New York, NY 10106-0200
- Phone: (212) 271-2022 / (212) 984-8877
- Website: graceandmercy.org
- Email: press@graceandmercy.org, info@thegraceandmercy.org
- Contact form available on website
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Grace and Mercy Foundation Inc fund?
The foundation's mission is to support the poor and oppressed, and to help people learn, grow, and serve. The foundation's primary program areas include: • Supporting the poor and oppressed • Helping people learn, grow, and serve • Public Reading of the Scriptures (PRS program) • The Just Show Up (JSU) book club, which fosters community learning for those who might not otherwise have access, time, or inclination to participate The foundation demonstrates a significant commitment to Christian or…
How do I apply for a grant from The Grace and Mercy Foundation Inc?
The Grace and Mercy Foundation distributes approximately $21.6 million annually in grants. The foundation has distributed over $180 million in grants across 200+ organizations worldwide since its inception. **Grant Characteristics:** • Average grant size: $242,897 • Grant range: $10,000 - $1,000,000+ • Annual number of grants: 63-79 grants per year (approximately 66 grants in 2023) • Application method: Invitation only; grants are made through trustee discretion to preselected organizations • N…
Where does The Grace and Mercy Foundation Inc make grants?
The foundation maintains a primary geographic focus on New York and New Jersey, though it operates with international reach. The foundation has presence and operations in multiple countries including South Korea, Nigeria, Luxembourg, Brazil, and Japan.
What size grants does The Grace and Mercy Foundation Inc award?
In 2024, The Grace and Mercy Foundation Inc awarded 71 grants totaling $21.7M — an average of about $306K per grant, based on its IRS Form 990 filings.
How much is The Grace and Mercy Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Grace and Mercy Foundation Inc reported a distributable amount of $34.4M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
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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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