2020-11-13T11:00:06-08:00 2019-12-31 134036703 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2019-01-01 131641069 Grace Institute GRAC 2122620662 1270 Avenue of the Americas New York NY 10020 Patrick Grace President & CEO 2020-11-13 true Michael Schall P02024184 2122682800 2019 2021-01-29 14:40:06Z Patrick Grace 1270 Avenue of the Americas 1905 New York NY 10020 10460751 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. 5 4 1 4 0 0 0 2264470 1787075 8352 280 2272822 1787355 1720000 1670000 0 193793 194459 0 0 1354789 1423500 3268582 3287959 -995760 -1500604 45301035 47215927 5201977 5562092 40099058 41653835 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 2461687 1670000 Provided grants to deserving workforce development organizations in line with our mission. 2461687 true false 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 6 0 true 1 true false false false false false false false 0 false false false false false false false X 5 4 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 175000 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 175000 1 false true true Vincent L Pomeranz 200 East 90th Street APT 17E New York NY 10028 Business Consulting 117000 1 0 0 708375 708375 0 0 0 9752096 8673396 1078700 1078700 1078700 0 0 0 Other Income 900099 280 280 280 1787355 280 1787075 1670000 1670000 0 0 0 182673 146138 36535 0 0 0 421 337 84 11365 9092 2273 0 19275 19275 31200 31200 0 0 452294 452294 48169 48169 0 14245 11396 2849 0 0 110306 88245 22061 0 0 0 211532 211532 0 536479 536479 0 0 3287959 2461687 826272 0 33855 12849 590982 226841 0 0 0 0 0 0 0 20378881 2113105 18792789 18265776 11018667 12502856 14817047 16148718 0 0 47695 58887 45301035 47215927 32274 86606 5169703 5475486 5201977 5562092 X 40037093 41591870 61965 61965 40099058 41653835 45301035 47215927 -1500604 3055381 X false true X true false X 20298213 2075053 18223160 53948 26974 26974 26720 11078 15642 18265776 16148718 X 4390442 3055381 3055381 1335061 452294 452294 1787355 2835665 2835665 452294 452294 3287959 Part X : FIN48 Footnote The Foundation does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending June 30, 2016 and later are subject to examination by applicable taxing authorities. false Grace Institute of New York 40 Rector Street 14th floor New York NY 10006 810844164 501(c)(3) 1570000 0 Operational Support Grace Outreach 378 E 151st St 5 Bronx NY 10455 861110482 501(c)(3) 100000 0 Operational Support 2 0 X X X false false false false false false false false false Patrick Grace Pres.,CEO,Secr. 175000 175000 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 conflicts 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. The minutes of the board of directors reflect the nature of this process. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Documents are made available upon request.