2022-11-11T16:40:59-08:00 2021-12-31 134036703 SCHALL & ASHENFARB CPAS LLC 307 FIFTH AVE 15TH FL NEW YORK NY 10016 990 2021-01-01 131641069 Grace Institute GRAC 2122620662 1270 Avenue of the Americas 1905 New York NY 10020 Patrick Grace President & CEO 2022-11-11 true Patrick Grace 999009999 Michael Schall P02024184 2122682800 3 AAL1 IAL1 FAL1 2021 2022-09-23 18:48:47Z Patrick Grace 1270 Avenue of the Americas 1905 New York NY 10020 15402246 false X www.graceinstitute.org X 1897 NY Grace Institute provides financial support to job training programs in New York City that enable women to achieve sustained, gainful employment. 6 5 1 5 0 2125055 12304 0 1592637 2420807 2000 0 3719692 2433111 1450000 1625000 0 221427 231397 0 0 1302160 1323450 2973587 3179847 746105 -746736 52052870 53804591 5844832 4862920 46208038 48941671 Grace Institute (the "Foundation") provides financial support to job training programs in New York City that enable women to achieve sustained, gainful employment. The Foundation gives particular attention to the ongoing operation and viability of Grace Institute of New York, which assumed the Foundation's historical operation role in New York City workforce development in October 2016. false false 2399100 1625000 Provided grants to deserving workforce development organizations in line with our mission. 2399100 true true false false false false false false false false true true false false false true true false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false true 2 0 true 1 true false false false false false false false 0 false false false false false false false X 6 5 true false false false false false false true true false false true true true true true true true false false X Patrick Grace 2122620662 1270 Avenue of the Americas New York NY 10020 Patrick Grace Pres.,CEO,Secr. 10.00 0.00 X X 190000 0 0 Patricia Montgomerie Asst. Secr/Tres 5.00 0.00 X X 0 0 0 Pedro Mata Chairman 2.00 0.00 X X 0 0 0 Rev Patrick Devine Director 2.00 0.00 X 0 0 0 Margaret Grace Director 2.00 0.00 X 0 0 0 Mary Tidlund Director 2.00 0.00 X 0 0 0 190000 1 false true true Vincent L Pomeranz 200 East 90th Street Apt17E New York NY 10028 Business Consulting 117000 1 12304 12304 12304 0 1000531 1000531 0 0 0 14389411 12969135 1420276 1420276 1420276 0 0 0 0 2433111 2420807 1625000 1625000 0 0 0 199281 159425 39856 0 0 0 19797 15838 3959 12319 9855 2464 0 0 35463 35463 0 0 577652 577652 33000 33000 0 4139 3311 828 0 0 61007 48806 12201 0 0 0 75324 75324 0 536865 536865 0 0 3179847 2399100 780747 0 17019 35291 1312126 893094 0 0 0 0 0 0 16500 16500 20391416 3186617 17732755 17204799 12312227 12428706 20628902 23194510 0 0 33341 31691 52052870 53804591 38563 90868 5806269 4772052 5844832 4862920 X 46146073 48879706 61965 61965 46208038 48941671 52052870 53804591 -746736 3480369 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20310748 3116297 17194451 53948 48553 5395 26720 21767 4953 17204799 23194510 X 5335828 3480369 3480369 1855459 577652 577652 2433111 2602195 2602195 577652 577652 3179847 Part X : FIN48 Footnote The Foundation does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending December 31, 2018 and later are subject to examination by applicable taxing authorities. false Catholic Charities Arch of NY 1011 1st Ave 11th Floor New York NY 10022 135562185 501(c)(3) 15000 0 Operational Support Grace Institute of New York 40 Rector Street 14th floor New York NY 10006 810844164 501(c)(3) 1370000 0 Operational Support Grace Outreach 378 E 151st St 5 Bronx NY 10455 861110482 501(c)(3) 100000 0 Operational Support Island Housing Trust PO Box 851 Mount Desert ME 04660 222993615 501(c)(3) 75000 0 Operational Support The Flax Trust America 320 Park Ave - 4th Floor New York NY 10022 251482764 501(c)(3) 15000 0 Operational Support Village Health Works 45 W 36th Street 8th Floor New York NY 10018 450545435 501(c)(3) 50000 0 Operational Support 6 0 X X X false false false false false false false false false Patrick Grace Pres.,CEO,Secr. 190000 190000 Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et Grace Institute was founded in the late 1800s by the Grace Family, who remain active with the organization today. Two members of the board are cousins and two of the members are married. Form 990, Part VI, Line 11b: Form 990 Review Process Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization has a board approved conflict of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management Each year, the board reviews comparable salaries based on a recognized study and reviews the performance of the President & CEO to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary package is voted on. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Documents are made available upon request.