2017-05-12T06:27:08-07:00 2016-06-30 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2015-07-01 131641069 Grace Institute GRAC 2128327605 40 Rector Street 14th Floor New York NY 10006 Patrick Grace Chair 2017-05-12 true Michael Schall P02024184 2122682800 2015 2021-01-29 14:40:06Z Patrick Grace 40 Rector Street 14th F New York NY 10006 9217472 false false X www.graceinstitute.org X 1897 NY Grace Institutes mission is to empower underserved women in the New York area to achieve employment and economic self-sufficiency. 5 5 47 720 0 1104883 412927 16290 27634 24681823 256508 211 0 25803207 697069 0 0 2679444 2185684 0 383622 1961530 2369604 4640974 4555288 21162233 -3858219 56415739 52180143 4354389 5270134 52061350 46910009 Grace Institutes mission is to empower underserved women in the New York area to achieve employment and economic self-sufficiency. Within a supportive and structured environment, Grace Institute provides job-skills training, counseling, placement services and continuous learning opportunities that lead to upwardly mobile employment. Grace Institute offers these services so that participants can realize their inherent strength, resilience and limitless potential. false false 3064707 27634 Grace Institute provided training, support and employment services to 265 women and successfully placed nearly 80% of its graduates in a variety of industries including healthcare, legal, hospitality and nonprofit. Our graduates more than quadrupled their personal income from before starting the program. Grace Institute also launched an evening program for women interested in Patient Service Representative Roles in healthcare settings.Over 700 corporate volunteers worked with the women of Grace to hone their job readiness skills and hosted office visits In FY16. 3064707 true true false false false false false false false false true true false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false true 35 0 true 47 true false false false false false false false false 0 false false false false false false false false false false X 5 5 true false true false true true false true true false false true true true true true true true true false NY X Brigid Lang 2128327605 40 Rector Street 14th Floor New York NY 10006 Patrick Grace Chair 10.00 0.00 X X 0 0 0 Patricia Montgomerie President 5.00 0.00 X X 0 0 0 William Grace Director 2.00 0.00 X 0 0 0 Father Patrick Devine Director 2.00 0.00 X 0 0 0 Michael Wandera Director 2.00 0.00 X 0 0 0 Brigid Lang Executive Dir. 40.00 0.00 X 158116 0 8600 Shari Krull Executive Dir. 40.00 0.00 X 144615 0 0 Jessica James Dev. Direct. 40.00 0.00 X 105829 0 8600 Sid Ross Senior Director 40.00 0.00 X 149820 0 8600 Ernest Schaal Former Comptroller 40.00 0.00 X 120000 0 0 678380 25800 5 true true false Gensler 1700 Broadway 400 New York NY 10019 Architect 465744 JT Magen & Co 44 W 28th St New York NY 10001 Contractor 5878263 40 Rector Condominium 295 Madison Ave 2nd FL New York NY 10017 Common Charges 310525 Levien & Company Inc 570 Lexington Ave New York NY 10022 Real Estate Conslt. 228285 Johnsen Securities 224 East 49th Street New YOrk NY 10017 Security 108664 6 412927 412927 Student Fees 611710 27634 27634 27634 531538 531538 0 0 0 8245373 8520403 -275030 -275030 -275030 0 0 0 0 697069 27634 256508 0 0 0 0 249116 199292 24912 24912 0 1608740 1314230 113218 181292 6755 5503 502 750 163487 133187 12155 18145 157586 128379 11717 17490 0 245605 245605 0 0 0 378629 378629 312259 177523 126128 8608 14218 14218 55055 44851 4093 6111 0 0 250026 201269 21638 27119 110053 89656 8182 12215 0 0 87695 87695 0 358383 291960 26646 39777 111796 91076 8312 12408 School supplies & expensess 132382 132382 Miscellaneous 112616 91744 8373 12499 Repairs & maintenance 80468 65554 5983 8931 Telephone 60568 49342 4504 6722 59851 48759 4449 6643 4555288 3064707 1106959 383622 3446 4201 10134546 3291522 0 0 0 0 0 0 31868 61228 21300739 377975 18597023 20922764 11972744 11372590 15243725 16477454 0 0 432387 50384 56415739 52180143 2477105 310951 5800 2699 1850000 4935000 21484 21484 4354389 5270134 X 51998885 46847944 62465 62065 52061350 46910009 56415739 52180143 -3858219 -1293122 X false true X true false X 609631 630849 692204 1104883 412927 3450494 0 0 609631 630849 692204 1104883 412927 3450494 396252 3054242 607422 519098 627254 611091 531538 2896403 0 121577 211 121788 6468685 1162547 0.47220 0.45710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20357671 241403 20116268 943068 136572 806496 20922764 16477454 Security deposit payable 21484 21484 X -860292 -1293122 -1293122 432830 264239 264239 697069 4291049 4291049 264239 264239 4555288 Part X : FIN48 Footnote The Institute does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending June 30, 2013 and later are subject to examination by applicable taxing authorities. X X true false false false false false false false false false Brigid Lang Executive Dir. 158116 8600 166716 Ernest Schaal Former Comptroller 120000 120000 Sid Ross Senior Director 149820 8600 158420 Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et The 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 one is a nephew to both. Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents Updated bylaws to conform with the Nonprofit Revitalization Act and revise the role of the Grace family members. In addition, the Act of Incorporation of the Institute was updated as a result of these changes. 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 The Operations Consultant developed a salary grid based on comparable data from recognized studies of the sector, which was reviewed by the Executive Committee, and assessed when determining the annual budget. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The Operations Consultant developed a salary grid based on comparable data from recognized studies of the sector, which was reviewed by the Executive Committee, and assessed when determining the annual budget. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Documents are made available upon request.