Nonprofit · EIN 86-1040503
GRACELINE INC
Tax-exempt · DALLAS, TX 75248
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $227,973 | $207,032 | $20,941 | $2,092,411 | $2,476 | $2,089,935 |
| December 31, 2023 | 990 | $359,529 | $153,906 | $205,623 | $2,069,367 | $373 | $2,068,994 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $190,376
- Program service revenue
- $0
- Investment income
- $36,543
- Royalties
- $48
- Other revenue
- $1,054
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $37,170
- Salaries, compensation and benefits (total)
- $198,910
- Professional fundraising fees
- $0
- Depreciation
- $640
- Program services (functional)
- $80,735
- Management and general (functional)
- $126,297
Balance sheet and other
- Total assets, start of year
- $2,069,367
- Total assets, end of year
- $2,092,411
- Total liabilities, end of year
- $2,476
- Net assets, end of year
- $2,089,935
- Land, buildings and equipment
- $2,842
- Publicly traded securities
- $1,803,568
- Gross receipts
- $757,973
- Employees
- 2
- Year formed
- 2001
- State of legal domicile
- AZ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Fred Chay | President Officer | 20 | $108,944 |
| Jim O'Connor | Director Trustee or director | 1 | $0 |
| Craig Skillicorn | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Fred Chay | President Officer | 20 | $54,408 |
| Jim O'Connor | Director Trustee or director | 1 | $0 |
| Craig Skillicorn | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 5011 BRIAR TREE DR, DALLAS, TX 75248-6004
- In care of
- % FRED CHAY
- Principal officer (990 for 2024)
- Fred Chay, 5011 Briar Tree Drive, Dallas, TX 75248
- Signed the 990
- Fred Chay, President
- Phone
- (602) 622-1033
- Website
- www.graceline.net
- Return prepared by
- REGIER & ASSOCIATES PLLC
Mission
The organization provides speakers to teach at local churches in order to further the gospel of Jesus Christ. Additionally, the organization mentors others to train and equip them for Christian ministry.
Program accomplishments
- Grace Line's president, Dr. Chay, taught a weekly adult Sunday Bible Class at Grace Bible Church in Dallas,TX. Video and audio recordings of these presentations have been made available on YouTube the www.GraceLine.net.Expenses $80,735
- Grace Line consulted with Grace School of Theology regarding educational strategies and curriculum along with several speaking engagements including podcasts and the National Conference of the Free Grace Alliance.
- A weekly email devotional "Friday with Fred" continued for the eleventh year, and subscription numbers continued to increase.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 86-1040503
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2002
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Religion-related (X21)
- Assets (IRS master file)
- $2,092,411
- Income (IRS master file)
- $757,973
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $227,973 | $207,032 | $2,092,411 | XML |
| 990 | December 2023 | $359,529 | $153,906 | $2,069,367 | XML |
| 990 | December 2022 | $323,626 | $119,163 | $2,238,533 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 86-1040503).
Questions about GRACELINE INC
- What is the EIN of GRACELINE INC?
- The employer identification number (EIN) of GRACELINE INC is 86-1040503.
- Is GRACELINE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to GRACELINE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GRACELINE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GRACELINE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GRACELINE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GRACELINE INC?
- The 990 for the year ended December 31, 2024 names Fred Chay.
- Who are the officers and directors of GRACELINE INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 1 received compensation from the organization, the highest $108,944 (Fred Chay, President).
- How much revenue does GRACELINE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $227,973, expenses of $207,032 and total assets of $2,092,411 at year end.
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