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THE GRACE AND MERCY FOUNDATION INC

NEW YORK, NY · EIN 208050779 · Form 990PF · FY2024 · NTEE T20 · Philanthropy & Grantmaking · Very Large (>$50M)
revenue
$53.1M
expenses
$38.8M
net assets
$495.2M
employees
profile · synthesized from sources

The Grace and Mercy Foundation Inc is a private foundation based in New York that provides grants to support religious, educational, humanitarian, and community initiatives. The organization does not appear to run direct programs but instead funds other nonprofit organizations across the United States and internationally. In 2024, it distributed over $16 million in grants to faith-based and community-serving entities.

activities · 4 groups

What they do

  • Community Foundation & United Way Support 1 activity
    • Funding community-focused initiatives
      Funds local and community-based programs and projects through grantmaking. The foundation supports initiatives that address community needs, as evidenced by its grant distribution.
  • Teacher & Classroom Innovation Grants 1 activity
    • Funding educational programs and institutions
      Provides grants to support educational initiatives and institutions, including programs that advance learning and academic development.
  • Charitable Grantmaking to Specific Causes 1 activity
    • Funding humanitarian aid efforts
      Supports humanitarian relief and assistance programs through grants, including initiatives aimed at providing aid to vulnerable or crisis-affected populations.
  • Jewish Religious Institution Support 1 activity
    • Funding religious organizations and programs
      Provides financial support to religious entities and faith-based programs through grants. This includes funding for religious institutions and their associated activities.
financials · form 990PF · fy2024
revenue
Total revenue$53.09M
Contributions & grants$00%
Program service revenue
Investment income$8.65M16%
Other revenue$42.96M
expenses
Total expenses$38.81M
Program expenses
Admin / overhead
Fundraising
Salaries & benefits$4.24M
Grants paid out$21.74M
balance sheet
Total assets$495.22M
Cash
Investments
Liabilities
Net assets$495.20M
3 years on record · 2020–2024 · YoY revenue +55.3%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 5
NameTitleHours/wkCompensation
DIANA PAE CHIEF OPERATING OFFICER 40 $1.42M
ANDREW MILLS CO-CHAIRMAN AND DIRECTOR 24 $1.03M
SUMI KIM PRESIDENT 40 $976K
IMHYUK YI TREASURER 40 $676K
KAYLA BROWN SECRETARY 40 $540K
board members · 2
  • BECKY HWANG — VICE PRESIDENT AND DIRECTOR
  • SUNG KOOK HWANG — CO-CHAIRMAN AND DIRECTOR
relationships · 12

Who they work with

  • BEACON CHRISTIAN COMMUNITY HEALTH CENTER Partner — Recipient of $315,000 grant for community health initiatives
  • CHRISTIAN COMMUNITY FOUNDATION Partner — Recipient of $11,932,315 grant for community-focused initiatives
  • FELLOWSHIP OF CHRISTIAN ATHLETES Partner — Recipient of $305,000 grant for educational programming
  • HOLY NAME MEDICAL CENTER FOUNDATION Partner — Recipient of $400,000 grant for community health services
  • HOSANNA (DBA FAITH COMES BY HEARING) Partner — Recipient of $1,000,000 grant for religious programming
  • IN GRACE MISSION Partner — Recipient of $270,000 grant for religious ministry
  • LUIS PALAU ASSOCIATION Partner — Recipient of $401,000 grant for religious outreach
  • MANHATTAN CHRISTIAN ACADEMY Partner — Recipient of $250,000 grant for educational support
  • NATIONAL PHILANTHROPIC TRUST Partner — Recipient of $250,000 grant for community-focused giving
  • NEW YORK CITY RELIEF INC Partner — Recipient of $225,000 grant for humanitarian aid
  • PRISON FELLOWSHIP INTERNATIONAL Partner — Recipient of $700,000 grant for humanitarian work
  • YOUTH FOR CHRIST USA INC Partner — Recipient of $450,000 grant for educational programming
strategies · 2

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Faith-Based Community Development
    methodology: faith_based_grantmaking
    By awarding grants to faith-based and local service organizations, we strengthen community development because religious institutions serve as trusted, on-the-ground partners that can effectively deliver services and foster social cohesion.
  • Religious Outreach as Ministry Advancement
    methodology: religious_outreach_funding
    By providing targeted grant funding to religious outreach initiatives, we advance spiritual and communal ministry goals because structured financial support enables broader evangelism, discipleship, and pastoral care efforts.