STRATEGY STUDIO / PUBLIC DATA EXPLORER

GRACE FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
GRACE FOUNDATION (EIN 56-2006078)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-10-21
IRS object ID
202532949349100228
Schema version
2024v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-10-21T16:27:42-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN561833865PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1WILLIAM TEMPLE ALLEN CPA PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13620 CAPE CENTER DRIVEAddressLine1Txt
CityFAYETTEVILLECityNm
State AbbreviationNCStateAbbreviationCd
ZIP28304ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN562006078EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE GRACE FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlGRACBusinessNameControlTxt
Phone9103230191PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13620 CAPE CENTER DRAddressLine1Txt
CityFAYETTEVILLECityNm
State AbbreviationNCStateAbbreviationCd
ZIP28304ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHARLENE HAMLETTPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone9103230191PhoneNum
Signature2025-10-20SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonWILLIAM TEMPLE ALLEN CPA PAPreparerPersonNm
PTINP01071846PTIN
Phone9103230191PhoneNum
Preparation2025-10-21PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$352,497FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$20,500ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$10,976InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$10,976InterestOnSavNetInvstIncmAmt
Total Rev And Expnss$31,476TotalRevAndExpnssAmt
Total Net Invst Incm$10,976TotalNetInvstIncmAmt
Trav Conf Meeting Rev And Expnss$11,219TravConfMeetingRevAndExpnssAmt
Other Expenses Rev And Expnss$48OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$48OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$11,267TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$48TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$7,500ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$7,500ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$18,767TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$48TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$7,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$12,709ExcessRevenueOverExpensesAmt
Net Investment Income$10,928NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$1,000CashBOYAmt
Cash EOY$1,000CashEOYAmt
Cash EOYFMV$1,000CashEOYFMVAmt
Sav And Temp Cash Invst BOY$201,175SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$214,740SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$214,740SavAndTempCashInvstEOYFMVAmt
Other Nts And Loans Rcvbl$136,757OtherNtsAndLoansRcvblAmt
Other Nts And Loans Rcvbl BOY$137,612OtherNtsAndLoansRcvblBOYAmt
Other Nts And Loans Rcvbl EOY$136,757OtherNtsAndLoansRcvblEOYAmt
Other Nts And Loans Rcvbl EOYFMV$136,757OtherNtsAndLoansRcvblEOYFMVAmt
Other Assets BOY$43OtherAssetsBOYAmt
Total Assets BOY$339,830TotalAssetsBOYAmt
Total Assets EOY$352,497TotalAssetsEOYAmt
Total Assets EOYFMV$352,497TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$339,830NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$352,497NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$339,830TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$352,497TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$339,830TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$352,497TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$339,830TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$12,709ExcessRevenueOverExpensesAmt
Subtotal$352,539SubtotalAmt
Other Decreases$42OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$352,497TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$152InvestmentIncomeExciseTaxAmt
Subtotal$152SubtotalAmt
Tax Based On Investment Income$152TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$35ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$35TotalPaymentsAndCreditsAmt
Tax Due$117TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNCOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksCHARLENE HAMLETTIndividualWithBooksNm
Phone9194892000PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 52328AddressLine1Txt
CityDURHAMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27717ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonCHARLENE HAMLETTPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 52328AddressLine1Txt
CityDURHAMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27717ZIPCd
FieldValueIRS element (for citing)
TitlePRESIDENTTitleTxt
Average Hrs Per Wk Devoted To Pos000.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$198,040AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$137,184FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$335,224TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$335,224AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$5,028CashDeemedCharitableAmt
Net Vl Noncharitable Assets$330,196NetVlNoncharitableAssetsAmt
Minimum Investment Return$16,510MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$16,510MinimumInvestmentReturnAmt
Tax Based On Investment Income$152TaxBasedOnInvestmentIncomeAmt
Total Tax$152TotalTaxAmt
Distributable Before Adj$16,358DistributableBeforeAdjAmt
Distributable Before Ded$16,358DistributableBeforeDedAmt
Distributable As Adjusted$16,358DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$7,500ExpensesAndContributionsAmt
Qualifying Distributions$7,500QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$16,358DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$37,222ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$30,550ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$85,932ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr1$162,360ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$316,064TotalExcessDistributionCyovAmt
Qualifying Distributions$7,500QualifyingDistributionsAmt
Applied To Current Year$7,500AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$8,858ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$8,858ExcessDistributionCyovAppCYAmt
Total Corpus$307,206TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$28,364ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$278,842ExcessDistriCyovToNextYrAmt
Excess From Year4$30,550ExcessFromYear4Amt
Excess From Year3$85,932ExcessFromYear3Amt
Excess From Year1$162,360ExcessFromYear1Amt

Supplementary Information SupplementaryInformationGrp

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonCHARLENE HAMLETTRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 52328AddressLine1Txt
CityDURHAMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27717ZIPCd
FieldValueIRS element (for citing)
Recipient Phone9194892000RecipientPhoneNum
Form And Info And MaterialsCONTACT INDIVIDUAL NAMED IN 2AFormAndInfoAndMaterialsTxt
Submission DeadlinesNONESubmissionDeadlinesTxt
Restrictions On AwardsNONERestrictionsOnAwardsTxt

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
WESTERN CAROLINA UNIVERSITY
1 UNIVERSITY DRIVECULLOWHEENC28723NONEUNIVERSITYTUITION$500
WRTP-HIS
7610 FALLS OF NEUSE RDRALEIGHNC27615GENERAL FUND$5,000
IMMANUEL FWBC
2310 ELLIS ROADDURHAMNC27703NONECHURCHGENERAL$500
EASTMAN SCHOOL OF MUSIC
P O B26 GIBBS STOX 52328ROCHESTERNY14604NONEUNIVERSITYTUITION$500
PENSACOLA CHRISTIAN COLLEGE
250 BRENT LNPENSACOLAFL32503NONE501(C)(3)TUITION$500
GRACE MINISTRIES OF DURHAM NC
P P BOX 52328DURHAMNC27717NONE501(C)(3)GENERAL$500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$7,500TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$10,976ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$10,976ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$10,976TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonMIRIAM WELLONSContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 52328AddressLine1Txt
CityDURHAMCityNm
State AbbreviationNCStateAbbreviationCd
ZIP27707ZIPCd
FieldValueIRS element (for citing)
Total Contributions$20,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescPREPAID TAXDesc
BOY Book Value$43BOYBookValueAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescFEDERAL TAX 2021Desc
Amt$42Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
EXPENSES
BANK CHARGES$48$48
POSTAGE

Other Notes Loans Rcvbl Short Sch2 OtherNotesLoansRcvblShortSch2

Other Notes Loans Rcvbl Short OtherNotesLoansRcvblShortGrp (3 entries)

Balance DueBalanceDueAmt
WELLONS INC
$13,492
NR - BERKELEY - KELLAH
$862
CRWF
$122,403