2025-11-17T18:12:56-07:00 2024-12-31 990 2024-01-01 800235887 GRACE-MAR SERVICES INC GRAC 7049096041 615 E 6th Street Suite 116 Charlotte NC 28202 Kenneth Smith Executive Director 7042313191 2025-11-15 1 2024 2025-03-06 01:10:19Z X Kenneth Smith 615 E 6th Street Suite 116 Charlotte NC 28202 502362 0 X www.gracemar.org X 2009 NC Grace Mar Services Inc builds stronger more reslient communities of color using workforce development and minority business ownership as a catalyst. 7 7 7 5 0 0 224988 502362 0 0 0 0 0 0 224988 502362 0 0 0 0 244361 420082 0 0 0 213397 63271 457758 483353 -232770 19009 681337 471978 348368 0 332969 471978 Grace Mar builds stronger more resilient communities of color using workforce development and minority business ownership as a catalyst. 0 0 147265 121803 We successfully completed the third year of the YouthBuild program. 326998 365409 In addition, we added and upgraded our online training platform enabling our agency to train over 100 individuals along with our YouthBuild students in several areas including, Construction and Construction Maintenance, Generative AI, Microsoft Office Suites and Customer Service. 9090 15150 We successfully moved our first fathers into our transitional home located at 322 Dare Drive 0 0 0 483353 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 2 0 0 7 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 1 0 0 X Kenneth Smith 7042313191 615 E 6th Street Suite 116 Charlotte NC 28202 Kenneth Smith President 50 10 X 40000 104500 0 Grace Blake Smith Vice President 40 10 X 45000 40000 0 85000 144500 0 0 0 0 1 0 0 0 0 0 502362 70000 502362 0 0 0 0 0 0 0 502362 0 0 0 84399 84399 163934 163934 171749 171749 0 700 700 8333 8333 1735 1735 8430 8430 5964 5964 8244 8244 6343 6343 9013 9013 14509 14509 483353 483353 0 0 293079 89366 0 15212 60000 94100 132520 0 0 0 0 0 190092 0 278946 190092 0 0 0 0 0 681337 471978 65667 282701 348368 0 X 320248 211924 12721 260054 332969 471978 681337 471978 X 19009 0 70000 0 0 50000 X 0 0 0 X 514864 50000 52899 224988 502362 1345113 514864 50000 52899 224988 502362 1345113 1345113 1345113 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 150092 0 150092 40000 0 0 40000 0 0 0 0 0 0 0 0 0 0 0 0 190092 X 0 0 X 0 0 0 0 0 0 0 0 0 Kenneth Smith President 40000 104500 0 0 0 0 0 0 0 0 40000 104500 0 0 Grace Blake Smith Vice President 45000 40000 0 0 0 0 0 0 0 0 45000 40000 0 0 Schedule J, Part I, Line 1a Kenneth Smith and Grace Smith gym membership was paid which was a total of $1300 for the year Schedule J, Part I, Line 1b The organization paid for gym memberships for Kenneth Smith and Grace Smith, who are husband and wife, at an annual combined cost of $1,300. These memberships were treated as taxable fringe benefits for compensation reporting purposes. The memberships were provided to support overall wellness and improve performance given their full-time leadership responsibilities within the organization. No other personal benefits of this nature were provided. Schedule J, Part I, Line 3 The board approved the CEO's pay in 2019 of $40,000 per year and it has not changed since then. X 1 70000 In kind 1 0 0 0 Schedule M, Part I, Line 33 We received an in-kind donation totaling $70,000 for the use of property located at 2201 Carolina Street Charlotte NC 28208. The property is owned by Inlivian, the public housing authority in Charlotte NC Form 990, Part VI, Section A, Line 2 Kenneth D Smith and Grace Smith are Husband and Wife. Form 990, Part VI, Section B, Line 11b Grace Mar Services Inc. is a nonprofit organization whose mission is to provide workforce development, small-business development, digital literacy training, fatherhood programs, and community-based support services that promote social and economic mobility for marginalized individuals and families. The organization operates multiple programs throughout North Carolina, partnering with state and local government agencies, community-based organizations, faith institutions, and employers to deliver comprehensive services. Form 990, Part VI, Section B, Line 15 The Board of Directors approved the Executive Director's annual salary of $40,000 in 2019. Since that time, the Executive Director's compensation has not increased. Although the organization has not conducted a formal compensation benchmarking review since the original approval, the Board determined the salary to be reasonable based on the organization's size, budget, and financial capacity at the time. The Board continues to review the organization's financial status annually and has maintained the Executive Director's compensation at the originally approved level due to limited funding and a commitment to ensuring program resources remain focused on community services. Form 990, Part VI, Section C, Line 19 Grace Mar Services Inc. makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Although these materials are not posted publicly online, the organization provides copies to any individual or entity that formally requests them, consistent with the organization's transparency practices. In addition, for several fee-for-service government contracts, the organization was required to submit governing documents and financial information as part of the contracting and compliance process. These submissions were provided directly to the contracting agencies in accordance with their requirements. The organization also makes its Form 990 available to the public upon request and complies with all federal public-disclosure requirements. Form 990, Part XI, Line 9 Part XI, Line 9 reflects other changes in net assets not included elsewhere in the return. These changes consist of routine year-end accounting adjustments necessary to reconcile the organization's records, including adjustments related to accruals, prior-period corrections, and reconciliation of beginning and ending balances. No unusual or non-recurring activities occurred that require additional disclosure beyond these standard accounting adjustments. Our agency did file for an extension and was granted one. Our return is due on 11.17.2025