Grace Charity Foundation Inc.

Grace Charity Foundation Inc. is a family-directed private grantmaking foundation led by President Jinsoo Kim and directors Seong Kim and Stephen Kim — all serving without compensation. This closely-held structure means all funding decisions rest with the Kim family. There is no formal published grant application process, RFP cycle, or published guidelines. Prospective grantees should pursue a direct, relationship-based approach by contacting the foundation at info@gracecharityfoundation.com or calling 407-470-3825. Outreach should emphasize community impact, tangible outcomes, and alignment with the foundation's core motto: "Hope can, and will, heal the world." Organizations operating in New Jersey or Central Florida (where the foundation lists program operations in Orlando) serving low-income or underserved populations will find the strongest thematic fit. Given the endowment-funded model and modest asset base, grant requests should be appropriately sized — likely $5,000–$100,000 for single-year grants.

Grace Charity Foundation is a pure endowment-driven private foundation that earns all revenue from investment returns — primarily dividends and asset sales — with zero donor contributions received. Over the five fiscal years 2019–2024, the foundation disbursed approximately $1,497,134 in total charitable grants, averaging $249,522 per year. Annual disbursements have ranged from a low of $150,706 (2021) to a high of $518,823 (2023). Total assets have fluctuated between $4.6M and $6.5M over the past six years. In fiscal year 2024, revenue was $646,157 ($121,876 in dividends, $524,281 in asset sales) against expenses of $421,682 (including $250,236 in charitable disbursements). The foundation's payout rate of approximately 6.5% of net assets in 2024 exceeds the IRS-mandated 5% minimum distribution requirement. Programs supported span community development, education and outreach (including school supply giveaways), weekly food bank operations, and social advocacy — consistent with NTEE code T20 (Private Grantmaking Foundations).

Grace Charity Foundation compares favorably to similar-sized family private foundations in New Jersey. Its 2024 disbursement rate of approximately 6.5% of net assets exceeds the IRS-mandated 5% minimum distribution requirement, indicating responsible stewardship. The zero-compensation structure for all officers is typical of family foundations of this size. The unusual dual-state presence (NJ legal HQ, FL program address) is worth noting — it may indicate the Kims have family or community ties to Central Florida.

Based on available IRS 990-PF filings (most recent filed May 2025 for fiscal year 2024), Grace Charity Foundation remains active and in compliance with federal reporting requirements. Key recent data points: Fiscal year 2024 showed a strong recovery in revenue ($646,157) compared to the previous year's $38,270, driven by robust asset sales. Charitable disbursements in 2024 totaled $250,236, down from the elevated $518,823 in 2023. The foundation's website (gracecharityfoundation.com) references ongoing weekly food bank operations (every Monday, 9am–2pm), school supply giveaways, and active community programming — suggesting continued operations. All officers (Jinsoo Kim, Seong Kim, Stephen Kim) remained the same across all recent filings, indicating stable leadership. No major leadership transitions, organizational restructuring, or public controversies were identified in available records.

Applying to Grace Charity Foundation requires a direct, personal approach given its family-run structure and lack of a formal application portal. Key tips: (1) Contact first — email info@gracecharityfoundation.com or call 407-470-3825 to introduce your organization and gauge interest before investing time in a formal proposal. (2) Align with community themes — emphasize education access, food security, community development, or advocacy for vulnerable populations in New Jersey or Central Florida. (3) Be concise and impact-focused — family foundations respond to clear stories of community need and measurable outcomes, not lengthy bureaucratic proposals. (4) Be appropriately sized — with average annual disbursements of ~$250K, requests in the $5,000–$50,000 range are most realistic for first-time applicants. (5) Demonstrate local presence — the Kim family appears rooted in both NJ and the Orlando, FL area; connections to either community strengthen your case. (6) No formal deadline exists — outreach can happen year-round, but initiating contact in Q1 or Q2 (January–June) aligns with typical private foundation grant cycles.