2016-05-11T13:55:45-07:00 2015-06-30 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2014-07-01 131641069 Grace Institute GRAC 2128327605 40 Rector Street 14th Floor New York NY 10006 Patrick Grace Chair 2016-05-11 true David C Ashenfarb P00535436 2122682800 2014 2016-08-17 19:52:53Z X Patrick Grace 1233 Second Avenue New York NY 10065 44668125 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. 10 10 39 790 0 692204 1104883 30058 16290 2104284 24681823 121577 211 2948123 25803207 0 0 2275279 2679444 0 389532 1673656 1961530 3948935 4640974 -1000812 21162233 43827649 56415739 13605239 4354389 30222410 52061350 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 2864064 Grace Institute moved in June 2015 from its home for more than 50 years at 1233 Second Avenue to a brand-new, state-of-the-art facility in the financial district at 40 Rector Street. Notable features of the new, nearly 32,000 square-foot location include expansive spaces for collaboration and learning, in addition to substantial technological upgrades. The move was completed in August 2015. In FY15, Grace Institute successfully placed approximately 70% of its graduates in a variety of industries including healthcare, legal, hospitality and nonprofit and is on track to realize a one-year, 80% placement rate for these graduates. Our graduates more than quadrupled their personal income from before starting the program, with the average wage for an employed graduate at $16/hour. Grace exceeded its development goals for the year and experienced some board turnover, including the cycling off of three members and three additional resignations. 2864064 true true false false false false false false false false true true false false true true true false false false false false false false true false false false false true false false false false false false false false true false false false false false false false false false false false false true 17 0 true 39 true false false false false false false false false 0 false false false false false false false false false false X 10 10 true false false 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 Terry Grace Sears Asst. Sec. 2.00 0.00 X X 0 0 0 Christine Anderson Director 2.00 0.00 X 0 0 0 Elise Corey Director 2.00 0.00 X 0 0 0 Bethany Mendies Director 2.00 0.00 X 0 0 0 Howard Grace Director 2.00 0.00 X 0 0 0 J Peter Grace Director 2.00 0.00 X 0 0 0 Christine Merkle Director 2.00 0.00 X 0 0 0 Michael Wandera Director 2.00 0.00 X 0 0 0 Shari Krull Executive Dir. 40.00 0.00 X 174999 0 0 Ernest Schaal Comptroller 40.00 0.00 X 110602 0 0 Brigid Lang Snr Dir Finance 40.00 0.00 X 66459 0 7210 Jolene Handy Senior Director 40.00 0.00 X 123760 0 7210 Sid Ross Senior Director 40.00 0.00 X 149856 0 7210 Alex Echegaray Facility Mgr. 40.00 0.00 X 105114 0 7210 730790 28840 5 false true false Gensler 12478 Collection Center Drive Chicago IL 60693 Architect 183646 1 236985 867898 1104883 Student Fees 611710 16290 16290 16290 611091 611091 0 0 0 18413160 24500000 17191617 1650811 1221543 22849189 24070732 22849189 1221543 22490 236985 22490 0 0 0 Other income 211 211 211 25803207 22865690 1832634 0 0 0 0 429999 139999 272500 17500 0 1872281 1539333 164424 168524 9848 7183 1869 796 185724 135471 35247 15006 181592 132457 34462 14673 0 0 0 0 0 278322 278322 0 7958 7958 58939 42992 11185 4762 0 0 0 72355 52778 13731 5846 0 0 129954 129954 0 6164 4496 1170 498 158619 115700 30103 12816 Condo expenses 447327 325215 86087 36025 Professional fees 405598 73966 260545 71087 Miscellaneous 122782 89560 23301 9921 School supplies & expensess 64547 64547 208965 140367 36520 32078 4640974 2864064 1387378 389532 4658 3446 66202 10134546 0 0 0 0 0 0 108790 31868 18616615 19592 13479713 18597023 12254715 11972744 17855709 15243725 0 0 57862 432387 43827649 56415739 86649 2477105 15000 5800 13008940 1850000 494650 21484 13605239 4354389 X 30032149 51998885 190261 62465 30222410 52061350 43827649 56415739 21162233 676707 X false true X true false X 350703 609631 630849 692204 1104883 3388270 0 0 350703 609631 630849 692204 1104883 3388270 392878 2995392 678103 607422 519098 627254 611091 3042968 0 121577 211 121788 6553026 1716218 0.45710 0.41150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18135661 18135661 480954 19592 461362 18597023 15243725 Security deposit payable 21484 21484 X 26201592 676707 676707 25524885 278322 278322 25803207 4362652 4362652 278322 278322 4640974 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, 2012 and later are subject to examination by applicable taxing authorities. false Breakfast with Grace 259475 236985 22490 22490 259475 236985 22490 22490 22490 X X true false false false false false false false false false Shari Krull Executive Dir. 174999 174999 Sid Ross Senior Director 149856 7210 157066 Wendy Davies Former Dir. 93982 Security Consultant false 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 brother and sister; several members are Grace Family cousins and one nephew. 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 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.