2015-05-06T15:31:38-07:00 2014-06-30 SCHALL & ASHENFARB CPAS 307 5th Ave 15th Floor NEW YORK NY 100166517 990 2013-07-01 131641069 Grace Institute GRAC 2128327605 1233 Second Avenue New York NY 10065 Patrick Grace Chair 2015-05-06 true David C Ashenfarb P00535436 2122682800 2013 2016-02-25 16:41:14Z Patrick Grace 1233 Second Avenue New York NY 10065 17468675 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. 13 13 45 460 0 630849 692204 502958 30058 794523 2104284 121577 1928330 2948123 0 0 1943452 2275279 0 226304 1345760 1673656 3289212 3948935 -1360882 -1000812 29802268 43827649 944706 13605239 28857562 30222410 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 2679156 Grace Institute serves 300 women a year through job training and placement services. The organization is 118 years old and over 100,000 women have come through its doors. In 2014, Grace Institute successfully placed approximately 80% of its graduates in jobs within a variety of industries including healthcare, legal, hospitality and nonprofit. The organization added 18 new employers to our roster and our graduates more than quadrupled their personal income from before starting the program. In FY14, Grace added two new board members to the organization, and its fundraising events have exceeded its goals for two years in a row. During this time period, Grace Institute was recognized by the Clinton Global Initiative for its work with female veterans. 2679156 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 14 0 true 45 true false false false false false false false false 0 false false false false false false false false false false X 13 13 true false true false true true false true true false false true true true true true true true true false X Brigid Lang 2128327605 1233 Second Avenue New York NY 10065 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 Secretary 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 Janet Fiorenza 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 Fran Green Director 2.00 0.00 X 0 0 0 Christine Merkle Director 2.00 0.00 X 0 0 0 Ellen Sabin Director 2.00 0.00 X 0 0 0 Jeri Sedlar 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 168654 0 0 Ernest Schaal Comptroller 40.00 0.00 X 118873 0 0 Brigid Lang Dir. of Finance 40.00 0.00 X 0 0 0 Jolene Handy Senior Director 40.00 0.00 X 119192 0 7000 Sid Ross Senior Director 40.00 0.00 X 143111 0 7000 549830 14000 4 false true false 0 98180 594024 692204 Student Fees 611710 30058 30058 30058 627254 627254 0 0 0 15986427 14509397 1477030 1477030 1477030 11155 98180 11155 0 0 0 Insurance Proceeds 62314 62314 Other income 59263 59263 121577 2948123 151635 2104284 0 0 0 0 180578 144462 18058 18058 0 1765277 1456981 194285 114011 11929 9817 1302 810 164700 135549 17973 11178 152795 125751 16674 10370 0 0 0 0 0 181300 181300 0 10531 10531 58228 47922 6354 3952 0 0 0 77549 63823 8463 5263 0 0 26732 26732 0 79505 65433 8676 5396 114450 94193 12489 7768 Professional fees 597700 96534 490561 10605 Condo expenses 155782 125413 20026 10343 School supplies & expensess 86640 86640 Miscellaneous 65409 53832 7138 4439 219830 172806 22913 24111 3948935 2679156 1043475 226304 1098030 4658 66202 25000 0 146486 0 0 0 0 0 145574 108790 15129104 1649391 834466 13479713 14699136 12254715 12812699 17855709 0 0 40877 57862 29802268 43827649 356049 86649 200 15000 13008940 588457 494650 944706 13605239 X 28732562 30032149 125000 190261 28857562 30222410 29802268 43827649 -1000812 1484580 881080 X false true X true false X 117745 350703 609631 630849 692204 2401132 0 0 117745 350703 609631 630849 692204 2401132 90358 2310774 661456 678103 607422 519098 627254 3093333 0 121577 121577 5616042 2292590 0.41150 0.34840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 247360 247360 13779781 1085843 12693938 614155 93126 521029 487808 470422 17386 13479713 17855709 Capital assessment payable 473171 Security deposit payable 21479 494650 X 4251403 1484580 1484580 2766823 181300 181300 2948123 3767635 3767635 181300 181300 3948935 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, 2011 and later are subject to examination by applicable taxing authorities. false Breakfast with Grace 109335 98180 11155 11155 109335 98180 11155 11155 11155 X X false false false false false false false false false false Shari Krull Executive Dir. 168654 168654 Sid Ross Senior Director 143111 7000 150111 Wendy Davies Former Dir. 91171 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 4: Description of Significant Changes to Organizational Documents A new whistleblower and conflict of interest policy were adopted by the board. 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.