FURNISHED BY GRACE INC

EIN: 861499485 501(c)(3) Human Services

COLLEYVILLE, TX

Total Revenue
$43,411
Total Expenses
$69,967
Total Assets
$53,639
Net Assets
$53,562
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
TX
Principal Officer
MICHELE SMITH
Phone
8175213502
Tax Period
2023-01-01 to 2023-12-31

FURNISHED BY GRACE INC, founded in 2021, is a micro nonprofit in the Human Services sector that reported $43K in total revenue in fiscal year 2023. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $70K exceeded revenue, resulting in a 61% operating deficit.

Mission

PROVIDING HOME FURNISHINGS TO SINGLE MOMMAS AND THEIR CHILDREN WHO ARE IN NEED.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $43,411
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $43,411

Expense Breakdown

Grants Paid $51,844
Salaries & Benefits $3,875
Fundraising Expenses $0
Program Expenses $67,861
Other Expenses $14,248
TOTAL EXPENSES $69,967

Year-over-Year Comparison

2023 2022 Change
Revenue $43,411 $96,747 -0.6%
Expenses $69,967 $53,555 +0.3%
Net Income $-26,556 $43,192 -1.6%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
1
Volunteers
5

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$3,600
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHELE SMITH PRESIDENT 20.00
Officer
$3,600 $0 $3,600
LAURA KNOWLTON TREASURER 2.00
$0 $0 $0
LAURA MACK SECRETARY N/A
$0 $0 $0
WENDY WHITFORD DIRECTOR N/A
$0 $0 $0
KELLY SMITH CHAIRMAN N/A
$0 $0 $0
GREG KNOWLTON DIRECTOR N/A
$0 $0 $0
KATIE LUNA MEMBER N/A
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $43,411 $69,967 $53,639 $-26,556
2022 $96,747 $53,555 $82,961 $43,192
2021 $69,293 $32,367 $36,925 $36,926
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