Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
THE GRACE AND MERCY FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)888 SEVENTH AVE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10106
A Employer identification number

20-8050779
B Telephone number (see instructions)

(212) 984-8877
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$663,495,142J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 0
2 Check right arrow.............
3 Interest on savings and temporary cash investments 5,037,575 5,037,575  
4 Dividends and interest from securities... 2,443,595 2,443,595  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
25,497,310
b Gross sales price for all assets on line 6a 161,149,992
7 Capital gain net income (from Part IV, line 2)... 25,497,310
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule)..... 0  
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,205,908 455,908  
12 Total. Add lines 1 through 11........ 34,184,388 33,434,388  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 4,221,367 919,685   3,301,682
14 Other employee salaries and wages...... 15,582,218 6,879,295   8,702,923
15 Pension plans, employee benefits....... 2,667,611 848,632   1,818,979
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
2,068,947 813,118   1,255,829
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
156,386 129,714   26,672
c Other professional fees (attach schedule).... 0      
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
878,588 346,003   532,585
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
7,893 3,947  
20 Occupancy.............. 2,289,232 901,342   1,387,890
21 Travel, conferences, and meetings....... 563,183 102,940   460,243
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
6,865,729 1,799,899   4,683,740
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 35,301,154 12,744,575   22,170,543
25 Contributions, gifts, grants paid....... 21,643,889 21,643,889
26 Total expenses and disbursements. Add lines 24 and 25 56,945,043 12,744,575   43,814,432
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -22,760,655
b Net investment income (if negative, enter -0-) 20,689,813
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 817,413 556,646 556,646
2 Savings and temporary cash investments......... 139,370,226 65,578,938 65,578,938
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....   0  
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow     0  
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 0 0 0
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow     0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 366,178,240 Click to see attachment
List of Attached Documents:
// Content
424,413,801 		592,743,215
14 Land, buildings, and equipment: basis right arrow601,725
Less: accumulated depreciation (attach schedule) right arrow599,846 44 Click to see attachment
List of Attached Documents:
// Content
1,879 		1,879
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
4,151,438 		Click to see attachment
List of Attached Documents:
// Content
4,614,464 		Click to see attachment
List of Attached Documents:
// Content
4,614,464
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 510,517,361 495,165,728 663,495,142
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
123,984 		Click to see attachment
List of Attached Documents:
// Content
292,131
23 Total liabilities (add lines 17 through 22)......... 123,984 292,131
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 510,393,377 494,873,597
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 510,393,377 494,873,597
30 Total liabilities and net assets/fund balances (see instructions). 510,517,361 495,165,728
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
510,393,377
2
Enter amount from Part I, line 27a .....................
2
-22,760,655
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
7,240,875
4
Add lines 1, 2, and 3 ..........................
4
494,873,597
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
494,873,597
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a META SHARES P 2022-04-12 2023-03-30
b META SHARES P 2022-04-12 2023-04-19
c NVIDIA SHARES P 2022-11-02 2023-04-19
d AMAZON SHARES P 2022-04-21 2023-05-17
e MSFT SHARES P 2022-04-12 2023-05-17
APPLE SHARES P 2022-11-02 2023-05-17
SERVICENOW SHARES P 2022-11-02 2023-05-17
AMAZON SHARES P 2022-04-21 2023-06-26
META SHARES P 2022-11-02 2023-06-26
AMAZON SHARES P 2023-04-19 2023-06-26
META SHARES P 2022-11-02 2023-07-27
AMAZON SHARES P 2023-04-19 2023-08-04
ALPHABET SHARES P 2023-01-15 2023-08-10
ALPHABET SHARES P 2023-02-13 2023-10-16
AMAZON SHARES P 2023-04-19 2023-11-08
TENG YUE PARTNERS, LTD P 2018-11-01 2023-03-31
TENG YUE PARTNERS, LTD P 2018-11-01 2023-06-30
TENG YUE PARTNERS, LTD P 2018-11-01 2023-09-30
FX GAIN OR LOSS - EURO TO USD P 2020-11-01 2023-01-31
US TREASURY BILL P 2022-11-29 2023-05-05
US TREASURY NOTES P 2022-11-14 2023-01-31
US TREASURY NOTES P 2022-11-14 2023-02-28
US TREASURY NOTES P 2022-11-16 2023-02-28
US TREASURY NOTES P 2022-11-08 2023-11-30
US TREASURY NOTES P 2022-11-08 2023-11-30
SCHWAB SVUXX SHARES P 2022-11-04 2023-02-13
SCHWAB SVUXX SHARES P 2022-11-23 2023-03-10
SCHWAB SVUXX SHARES P 2023-01-26 2023-03-10
SCHWAB SVUXX SHARES P 2023-01-26 2023-03-23
SCHWAB SVUXX SHARES P 2023-01-26 2023-04-20
META SHARES P 2022-11-02 2023-04-19
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 5,060,392 0 5,302,594 -242,202
b 4,805,053 0 4,780,447 24,606
c 10,075,021 0 4,994,552 5,080,469
d 5,008,505 0 6,685,150 -1,676,645
e 10,050,951 0 9,177,950 873,001
10,161,306 0 8,704,227 1,457,079
10,082,434 0 8,272,403 1,810,031
2,854,154 0 3,305,162 -451,008
5,000,319 0 1,644,448 3,355,871
2,145,226 0 1,737,906 407,320
4,998,108 0 1,465,349 3,532,759
5,055,639 0 3,737,545 1,318,094
5,001,505 0 3,623,691 1,377,814
2,019,161 0 1,369,765 649,396
4,970,470 0 3,662,079 1,308,391
2,134,549 0 0 2,134,549
1,847,757 0 0 1,847,757
1,932,158 0 0 1,932,158
0 0 8 -8
7,000,000 0 6,863,226 136,774
6,000,000 0 5,978,119 21,881
2,500,000 0 2,470,836 29,164
3,500,000 0 3,472,917 27,083
2,500,000 0 2,391,294 108,706
8,500,000 0 8,209,953 290,047
9,947,356 0 9,944,736 2,620
4,125,000 0 4,125,062 -62
9,000,000 0 9,000,900 -900
5,000,000 0 5,001,500 -1,500
9,616,360 0 9,619,217 -2,857
258,568 0 111,646 146,922
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a 0 0 0 -242,202
b 0 0 0 24,606
c 0 0 0 5,080,469
d 0 0 0 -1,676,645
e 0 0 0 873,001
0 0 0 1,457,079
0 0 0 1,810,031
0 0 0 -451,008
0 0 0 3,355,871
0 0 0 407,320
0 0 0 3,532,759
0 0 0 1,318,094
0 0 0 1,377,814
0 0 0 649,396
0 0 0 1,308,391
0 0 0 2,134,549
0 0 0 1,847,757
0 0 0 1,932,158
0 0 0 -8
0 0 0 136,774
0 0 0 21,881
0 0 0 29,164
0 0 0 27,083
0 0 0 108,706
0 0 0 290,047
0 0 0 2,620
0 0 0 -62
0 0 0 -900
0 0 0 -1,500
0 0 0 -2,857
0 0 0 146,922
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 25,497,310
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 20,414,147
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 287,588
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 287,588
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 287,588
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 750,000
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Original Return Overpayment : -750000 7 750,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 462,412
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow462,412 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowNY
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions Click to see attachment
List of Attached Documents:
// Content
.............
11
Yes
 
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowIMHYUK YI Telephone no.right arrow (212) 984-8877

Located atright arrowC/O THE GRACE AND MERCY FOUNDATIONNew YorkNY ZIP+4right arrow10106
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
Yes
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
Yes
 
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
No
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
Yes
 
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
BECKY HWANG VICE PRESIDENT AND DIRECTOR
2.00 		0 0 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
SUMI KIM PRESIDENT
40.00 		861,497 93,213 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
IMHYUK YI TREASURER
40.00 		606,538 70,193 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
DIANA PAE CHIEF OPERATING OFFICER
40.00 		1,289,139 85,868 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
ANDREW MILLS CO-CHAIRMAN AND DIRECTOR
24.00 		1,024,558 48,596 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
KAYLA BROWN SECRETARY
40.00 		439,635 66,665 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
SUNG KOOK HWANG CO-CHAIRMAN AND DIRECTOR
10.00 		0 0 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
HYUNWOO NAM INVESTMENT OFFICER
40.00 		1,204,231 72,112 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
BRANDON BERGER INVESTMENT OFFICER
24.00 		1,000,621 78,744 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
DHANI JONES INVESTMENT OFFICER
24.00 		809,769 60,431 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
SU LEE INVESTMENT OFFICER
40.00 		810,365 36,864 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
DAIKI TANIGUCHI INVESTMENT OFFICER &
40.00 		724,538 63,571 0
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
Total number of other employees paid over $50,000...................right arrow 41
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
LOWENSTEIN SANDLER LEGAL 1,719,982
ONE LOWENSTEIN DRIVE
ROSELAND,NJ07068
SEUNGHWAN KIM PROGRAM CONSULTING 333,336
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
BLANK ROME LEGAL 303,007
300 CARNEGIE CENTER SUITE 220
PRINCETON,NJ08540
CADENCE BANK INVESTMENT MANAGEMENT 240,466
1333 WEST LOOP SOUTH SUITE 1700
HOUSTON,TX77027
INSPIRATIONAL LEADERSHIP LLC PROGRAM CONSULTING 185,000
C/O THE GRACE AND MERCY FOUNDATION
NEW YORK,NY10106
Total number of others receiving over $50,000 for professional services.............right arrow5
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 THE JUST SHOW UP (JSU) BOOK CLUB, THE PURPOSE OF WHICH IS TO FOSTER COMMUNITY LEARNING MADE AVAILABLE TO THOSE WHO MIGHT NOT OTHERWISE HAVE THE ACCESS, TIME, OR INCLINATION TO PARTICIPATE IN SUCH LEARNING 7,774,527
2 THE PUBLIC READING OF SCRIPTURE (PRS) PROGRAM, THE PURPOSE OF WHICH IS TO HELP PEOPLE READ AND LEARN AS A COMMUNITY ABOUT THE CHRISTIAN BIBLE. 11,187,662
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 NOT APPLICABLE 0
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
311,322,138
b
Average of monthly cash balances.......................
1b
84,481,339
c
Fair market value of all other assets (see instructions)................
1c
225,028,847
d
Total (add lines 1a, b, and c).........................
1d
620,832,324
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
620,832,324
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
9,312,485
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
611,519,839
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
30,575,992
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
30,575,992
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
287,588
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
287,588
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
30,288,404
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
30,288,404
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
30,288,404
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
43,814,432
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
43,814,432
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 30,288,404
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 23,277,770
f Total of lines 3a through e ........ 23,277,770
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 43,814,432
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 30,288,404
e Remaining amount distributed out of corpus 13,526,028
5 Excess distributions carryover applied to 2023.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 36,803,798
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		36,803,798
10 Analysis of line 9:
a Excess from 2019.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 23,277,770
e Excess from 2023.... 13,526,028
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
NA
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
NA
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

A ROCHA INTERNATIONAL

131 EAST MAIN STREET SUITE 205
FREDERICKSBURG,TX78624 		  509(a)1170(b)(1)(A) COMMUNITY 100,000

ALLIANCE UNIVERSITY

2 WASHINGTON ST
NEW YORK,NY10004 		  509(a)1170(b)(1)(A) EDUCATION 200,000

AMBASSADORS FOR CHRIST INC

21 AMBASSADORS DRIVE
PARADISE,PA17562 		  509(a)1170(b)(1)(A) EDUCATION 60,000

ASSOCIATION OF GOSPEL RESCUE MISSIONS DBA CITYGATE NETWORK

2153 CHUCKWAGON ROAD SUITE 100
COLORADO SPRINGS,CO80919 		  509(a)1170(b)(1)(A) HUMANITARIAN 20,000

BEACON CHRISTIAN COMMUNITY HEALTH CENTER

2079 FOREST AVE
STATEN ISLAND,NY10303 		  509(a)1170(b)(1)(A) COMMUNITY 300,000

CALVIN THEOLOGICAL SEMINARY

333 BURTON ST SE
GRAND RAPIDS,MI49546 		  509(a)1170(b)(1)(A) EDUCATION 20,000

CAMPUS CRUSADE FOR CHRIST INTERNATIONAL

100 LAKE HART DRIVE 3500
ORLANDO,FL32832 		  509(a)1170(b)(1)(A) EDUCATION 100,000

CARNEGIE HALL CORPORATION

881 7TH AVENUE
NEW YORK,NY10019 		  509(a)1170(b)(1)(A) EDUCATION 100,000

CHESTERTON HOUSE

PO BOX 4405
ITHACA,NY14850 		  509(a)1170(b)(1)(A) EDUCATION 100,000

CHICAGO HOPE ACADEMY

2189 W BOWLER ST
CHICAGO,IL60612 		  509(a)1170(b)(1)(A) EDUCATION 90,000

CONSORTIUM OF CHRISTIAN STUDY CENTERS

485 HILLSDALE DRIVE SUITE 112
CHARLOTTESVILLE,VA22901 		  509(a)1170(b)(1)(A) EDUCATION 11,000

COURAGE FOR LIFE INC

1000 WHITLOCK AVENUE SUITE 320 134
MARIETTA,GA30064 		  509(a)1170(b)(1)(A) COMMUNITY 35,000

COVENANT COLLEGE

14049 SCENIC HIGHWAY
LOOKOUT MOUNTAIN,GA30750 		  509(a)1170(b)(1)(A) EDUCATION 10,000

DENVER SEMINARY

6399 S SANTA FE DR
LITTLETON,CO80120 		  509(a)1170(b)(1)(A) EDUCATION 10,000

DOOR INTERNATIONAL

1142 44TH ST SE
GRAND RAPIDS,MI49508 		  509(a)1170(b)(1)(A) EDUCATION 100,000

DOWNTOWN SOUP KITCHEN INC

PO BOX 202684
ANCHORAGE,AK99520 		  509(a)1170(b)(1)(A) HUMANITARIAN 60,000

EL POZO DE VIDA

910 W 17TH STREET SUITE B
SANTA ANA,CA92706 		  509(a)1170(b)(1)(A) HUMANITARIAN 95,000

ELIM CHRISTIAN SERVICES

13020 S CENTRAL AVE
CRESTWOOD,IL60418 		  509(a)1170(b)(1)(A) EDUCATION 50,000

EXODUS TRANSITIONAL COMMUNITY INC

2268 3RD AVENUE
NEW YORK,NY10035 		  509(a)1170(b)(1)(A) COMMUNITY 110,000

HOSANNA

2421 AZTEC RD
ALBUQUERQUE,NM87107 		  509(a)1170(b)(1)(A) RELIGIOUS 750,000

FAMILY TOUCH INC

218 MAIN ST
LITTLE FERRY,NJ07643 		  509(a)1170(b)(1)(A) COMMUNITY 45,000

FELLOWSHIP OF CHRISTIAN ATHLETES

8701 LEEDS RD
KANSAS CITY,MO64129 		  509(a)1170(b)(1)(A) EDUCATION 275,000

FOUNTAIN OF LIFE COVENANT CHURCH

655 W BADGER ROAD
MADISON,WI63713 		  509(a)1170(b)(1)(A) RELIGIOUS 50,000

HAWAIIAN ISLANDS MINISTRIES INC

PO BOX 777
HONOLULU,HI96808 		  509(a)1170(b)(1)(A) RELIGIOUS 95,000

HELPING UP MISSION INC

1029 E BALTIMORE ST
BALTIMORE,MD21202 		  509(a)1170(b)(1)(A) HUMANITARIAN 90,000

HOLLAND CHRISTIAN SCHOOLS

950 OTTAWA AVE
HOLLAND,MI49423 		  509(a)1170(b)(1)(A) EDUCATION 10,000

HOLY NAME MEDICAL CENTER FOUNDATION

718 TEANECK RD
TEANECK,NJ07666 		  509(a)1170(b)(1)(A) COMMUNITY 500,000

HOPE FOR NEW YORK

1500 BROADWAY STE 700
NEW YORK,NY100364069 		  509(a)1170(b)(1)(A) COMMUNITY 80,000

IN GRACE MISSION

2148 SEAVIEW DR
FULLERTON,CA92833 		  509(a)1170(b)(1)(A) RELIGIOUS 275,000

INFINITY BIBLE CHURCH

1326 MORRISON AVE
BRONX,NY10472 		  509(a)1170(b)(1)(A) RELIGIOUS 50,000

INHERITANCE OF HOPE

PO BOX 90
PISGAH FOREST,NC28768 		  509(a)1170(b)(1)(A) COMMUNITY 185,000

INTERNATIONAL JUSTICE MISSION

PO BOX 2227
ARLINGTON,VA22202 		  509(a)1170(b)(1)(A) HUMANITARIAN 400,000

INTERVARSITY CHRISTIAN FELLOWSHIP

635 SCIENCE DRIVE
MADISON,WI53711 		  509(a)1170(b)(1)(A) EDUCATION 95,000

KNIGHTS OF COLUMBUS CHARITABLE FUND INC

1 COLUMBUS PLAZA
NEW HAVEN,CT06510 		  509(a)1170(b)(1)(A) COMMUNITY 8,606,069

THE KOREAN-AMERICAN FAMILY SERVICE CENTER INC

PO BOX 541429
FLUSHING,NY11354 		  509(a)1170(b)(1)(A) HUMANITARIAN 75,000

LAUSANNE COMMITTEE FOR WORLD EVANGELIZATION

10524 MOSS PARK ROAD SUITE 201
ORLANDO,FL32832 		  509(a)1170(b)(1)(A) RELIGIOUS 290,000

LIMA CHRISTIAN SCHOOL

1574 ROCHESTER ST
LIMA,NY14485 		  509(a)1170(b)(1)(A) EDUCATION 6,000

LUIS PALAU ASSOCIATION

PO BOX 50
PORTLAND,OR97207 		  509(a)1170(b)(1)(A) RELIGIOUS 350,000

MANGO FUND INC

27 NYE ROAD
FALMOUTH,MA02540 		  509(a)1170(b)(1)(A) ENTREPRENEURSHIP 150,000

MANHATTAN CHRISTIAN ACADEMY

401 WEST 205TH STREET
NEW YORK,NY10034 		  509(a)1170(b)(1)(A) EDUCATION 220,000

MANHATTAN GOSPEL CHURCH

13 LONGVIEW DR
TOWACO,NJ07082 		  509(a)1170(b)(1)(A) RELIGIOUS 10,000

MILITARY COMMUNITY YOUTH MINISTRIES

540 NORTH CASCADE AVENUE SUITE 300
COLORADO SPRINGS,CO80903 		  509(a)1170(b)(1)(A) EDUCATION 40,000

MILWAUKEE RESCUE MISSION

830 N 19TH ST
MILWAUKEE,WI53233 		  509(a)1170(b)(1)(A) HUMANITARIAN 60,000

MULTIPLY222 NETWORK

477 SW CASHMERE BLVD
PORT ST LUCIE,FL34986 		  509(a)1170(b)(1)(A) RELIGIOUS 15,000

NATIONAL PHILANTHROPIC TRUST

165 TOWNSHIP LINE ROAD SUITE 1200
JENKINTOWN,PA19046 		  509(a)1170(b)(1)(A) COMMUNITY 200,000

NEHEMIAH CORPORATION

655 W BADGER ROAD
MADISON,WI53713 		  509(a)1170(b)(1)(A) EDUCATION 135,000

NEW ASIA FOUNDATION FOR ED AND CULTURE

3440 WILSHIRE BLVD STE 505
LOS ANGELES,CA90010 		  509(a)1170(b)(1)(A) HUMANITARIAN 75,000

NEW BRIDGE AUSTIN

9101 HOG EYE RD APT 1327
AUSTIN,TX78724 		  509(a)1170(b)(1)(A) HUMANITARIAN 9,500

NEW CANAAN SOCIETY INC

45 ROCKEFELLER PLZ STE 2000
NEW YORK,NY10111 		  509(a)1170(b)(1)(A) COMMUNITY 135,000

CITY RELIEF INC

295 WALNUT ST
ELIZABETH,NJ07201 		  509(a)1170(b)(1)(A) HUMANITARIAN 175,000

NOMI NETWORK INC

PO BOX 42
NEW YORK,NY10156 		  509(a)1170(b)(1)(A) HUMANITARIAN 50,000

NORTH AMERICAN CHRISTIAN CONVENTION

PO BOX 1197
LONGMONT,CO80502 		  509(a)1170(b)(1)(A) RELIGIOUS 75,000

NURU INTERNATIONAL

2020 PENNSYLVANIA AVENUE NORTHWEST
WASHINGTON,DC20006 		  509(a)1170(b)(1)(A) ENTREPRENEURSHIP 100,000

OPEN HANDS LEGAL SERVICES

145 E 125TH STREET
NEW YORK,NY10035 		  509(a)1170(b)(1)(A) COMMUNITY 90,000

OTR LIVING WATER MINISTRY

1610 WALNUT ST
CINCINNATI,OH45202 		  509(a)1170(b)(1)(A) RELIGIOUS 35,000

PAVE ACADEMY CS

732 HENRY STREET
BROOKLYN,NY11231 		  509(a)1170(b)(1)(A) EDUCATION 40,000

PEORIA RESCUE MINISTRIES

601 SW ADAMS ST
PEORIA,IL61652 		  509(a)1170(b)(1)(A) HUMANITARIAN 50,000

PRISON FELLOWSHIP INTERNATIONAL

PO BOX 17434
WASHINGTON,DC20041 		  509(a)1170(b)(1)(A) HUMANITARIAN 600,000

RBC MINISTRIES(OUR DAILY BREAD)

PO BOX 2222
GRAND RAPIDS,MI49501 		  509(a)1170(b)(1)(A) RELIGIOUS 60,000

RESCUE MISSION OF SALT LAKE INC

430 S 400 W
SALT LAKE CITY,UT84101 		  509(a)1170(b)(1)(A) HUMANITARIAN 50,000

RESTORE NYC INC

PO BOX 1003 BOWLING GREEN STATION
NEW YORK,NY10274 		  509(a)1170(b)(1)(A) HUMANITARIAN 150,000

RISING TIDE CAPITAL

311 MARTIN LUTHER KING DRIVE
JERSEY CITY,NJ07305 		  509(a)1170(b)(1)(A) ENTREPRENEURSHIP 200,000

THE BIBLE PROJECT

1302 SE ANKENY ST
PORTLAND,OR97214 		  509(a)1170(b)(1)(A) EDUCATION 50,000

THE BIBLE SEMINARY

2655 S MASON RD
KATY,TX77450 		  509(a)1170(b)(1)(A) EDUCATION 10,000

CHRISTIAN HERALD ASSOCIATION

335 LEXINGTON AVENUE 19TH FL
NEW YORK,NY10017 		  509(a)1170(b)(1)(A) HUMANITARIAN 200,000

THE CHILDREN'S AID SOCIETY

117 W 124TH ST
NEW YORK,NY10027 		  509(a)1170(b)(1)(A) COMMUNITY 100,000

THE NAVIGATORS

PO BOX 6000
COLORADO SPRINGS,CO809045001 		  509(a)1170(b)(1)(A) EDUCATION 92,000

THE POTTER'S HOUSE

810 VAN RAALTE DR SW
WYOMING,MI49509 		  509(a)1170(b)(1)(A) EDUCATION 75,000

THE SALVATION ARMY GENERAL

120 WEST 14TH STREET
NEW YORK,NY10011 		  509(a)1170(b)(1)(A) HUMANITARIAN 200,000

THEOLOGY OF WORK PROJECT

29 SAINT JOHN ST
JAMAICA PLAIN,MA02130 		  509(a)1170(b)(1)(A) EDUCATION 150,000

UNION RESCUE MISSION

545 S SAN PEDRO ST
LOS ANGELES,CA90013 		  509(a)1170(b)(1)(A) HUMANITARIAN 175,000

USTA FOUNDATION

70 WEST RED OAK LANE
WHITE PLAINS,NY10604 		  509(a)1170(b)(1)(A) EDUCATION 42,500

VOCATIO CAREER PREP HIGH SCHOOL

4455 N 6TH ST
PHILADELPHIA,PA19140 		  509(a)1170(b)(1)(A) EDUCATION 10,000

CHRISTIAN COMMUNITY FOUNDATION

10807 NEW ALLEGIANCE DR SUITE 240
COLORADO SPRINGS,CO80921 		  509(a)1170(b)(1)(A) COMMUNITY 3,053,820

WESTERN CAROLINA RESCUE MINISTRIES

PO BOX 909
ASHEVILLE,NC28802 		  509(a)1170(b)(1)(A) HUMANITARIAN 90,000

414 WINDOW NEW YORK INC

130-30 31ST AVE 9TH FLOOR
FLUSHING,NY113540000 		  509(a)1170(b)(1)(A) RELIGIOUS 300,000

YOUNG LIFE

420 N CASCADE AVENUE
COLORADO SPRINGS,CO80903 		  509(a)1170(b)(1)(A) EDUCATION 140,000

YOUTH FOR CHRIST

PO BOX 4478
ENGLEWOOD,CO80155 		  509(a)1170(b)(1)(A) EDUCATION 400,000

ZIMELE USA

PO BOX 5762
ENGLEWOOD,NJ07631 		  509(a)1170(b)(1)(A) ENTREPRENEURSHIP 33,000
Total .................................right arrow 3a 21,643,889
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 5,037,575  
4 Dividends and interest from securities ....     14 2,443,595  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 25,497,310  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aLONE CASCADE, L.P. - FROM K-1 		    14 197,925  
bKKR GLOBAL IMPACT FUND SCSP - FROM K-1     14 557,007  
cTIGER GLOBAL PRIV INV PARTNERS XI - FROM K-1     14 -40,002  
dFURTHER GLOBAL CAPITAL PARTNERS-A, LP - FROM K-1     14 -203,717  
eASCEND CAPITAL PARTNERS CO-INVEST (BLOCKER), L.P. - FROM K-1     14 -55,305  
12 Subtotal. Add columns (b), (d), and (e) ..   33,434,388  
13Total. Add line 12, columns (b), (d), and (e)..................
13
33,434,388
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  
Part VI Line 7 -Original Return Overpayment: -750,000


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ABLAMSKY & COMPANY CPAS LLC TAX & ACCOUNTING 39,000 15,359   23,641
CITCO FUND SERVICES FUND SERVICES 62,000 62,000   0
EZE CASTLE SOFTWARE LLC FUND SERVICES 50,386 50,386   0
GRACE NEGGIE CPA AUDITING 5,000 1,969   3,031

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TY 2023 DepreciationSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
F&F 2015-07-01 838 838 200DB 7.000000000000 0      
F&F 2016-07-01 1,020 974 200DB 7.000000000000 46      
COMPUTER 2017-07-01 10,708 10,708 200DB 5.000000000000 0      
F&F 2019-07-01 3,294 0 200DB 7.000000000000 0      
LEASEHOLD IMPS 2020-07-01 11,342 0 SL 15.000000000000 0      
F&F 2021-07-01 2,040 0 200DB 7.000000000000 0      
COMPUTER 2021-07-01 425,832 0 200DB 5.000000000000 0      
LEASEHOLD IMPS 2021-07-01 24,963 0 SL 15.000000000000 0      
COMPUTER 2022-07-01 37,968 0 200DB 5.000000000000 0      
LEASEHOLD IMPS 2022-07-01 53,000 0 SL 15.000000000000 0      
F&F 2022-07-01 20,992 0 200DB 7.000000000000 0      
LEASEHOLD IMPS 2023-01-18 9,728   SL 15.000000000000 65 3,947    

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TY 2023 GainLossSaleOtherAssetsSch
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
META SHARES 2022-04 Purchased 2023-03   5,060,392 5,302,594     -242,202  
META SHARES 2022-04 Purchased 2023-04   4,805,053 4,780,447     24,606  
NVIDIA SHARES 2022-11 Purchased 2023-04   10,075,021 4,994,552     5,080,469  
AMAZON SHARES 2022-04 Purchased 2023-05   5,008,505 6,685,150     -1,676,645  
MSFT SHARES 2022-04 Purchased 2023-05   10,050,951 9,177,950     873,001  
APPLE SHARES 2022-11 Purchased 2023-05   10,161,306 8,704,227     1,457,079  
SERVICENOW SHARES 2022-11 Purchased 2023-05   10,082,434 8,272,403     1,810,031  
AMAZON SHARES 2022-04 Purchased 2023-06   2,854,154 3,305,162     -451,008  
META SHARES 2022-11 Purchased 2023-06   5,000,319 1,644,448     3,355,871  
AMAZON SHARES 2023-04 Purchased 2023-06   2,145,226 1,737,906     407,320  
META SHARES 2022-11 Purchased 2023-07   4,998,108 1,465,349     3,532,759  
AMAZON SHARES 2023-04 Purchased 2023-08   5,055,639 3,737,545     1,318,094  
ALPHABET SHARES 2023-01 Purchased 2023-08 3 5,001,505 3,623,691     1,377,814  
ALPHABET SHARES 2023-02 Purchased 2023-10   2,019,161 1,369,765     649,396  
AMAZON SHARES 2023-04 Purchased 2023-11   4,970,470 3,662,079     1,308,391  
TENG YUE PARTNERS, LTD 2018-11 Purchased 2023-03   2,134,549 0     2,134,549  
TENG YUE PARTNERS, LTD 2018-11 Purchased 2023-06   1,847,757 0     1,847,757  
TENG YUE PARTNERS, LTD 2018-11 Purchased 2023-09   1,932,158 0     1,932,158  
FX GAIN OR LOSS - EURO TO USD 2020-11 Purchased 2023-12   0 8     -8  
US TREASURY BILL 2022-11 Purchased 2023-05   7,000,000 6,863,226     136,774  
US TREASURY NOTES 2022-11 Purchased 2023-01   6,000,000 5,978,119     21,881  
US TREASURY NOTES 2022-11 Purchased 2023-02   2,500,000 2,470,836     29,164  
US TREASURY NOTES 2022-11 Purchased 2023-02   3,500,000 3,472,917     27,083  
US TREASURY NOTES 2022-11 Purchased 2023-11   2,500,000 2,391,294     108,706  
US TREASURY NOTES 2022-11 Purchased 2023-11   8,500,000 8,209,953     290,047  
SCHWAB SVUXX SHARES 2022-11 Purchased 2023-02   9,947,356 9,944,736     2,620  
SCHWAB SVUXX SHARES 2022-11 Purchased 2023-03   4,125,000 4,125,062     -62  
SCHWAB SVUXX SHARES 2023-01 Purchased 2023-03   9,000,000 9,000,900     -900  
SCHWAB SVUXX SHARES 2023-01 Purchased 2023-03   5,000,000 5,001,500     -1,500  
SCHWAB SVUXX SHARES 2023-01 Purchased 2023-04   9,616,360 9,619,217     -2,857  
META SHARES 2022-11 Purchased 2023-04   258,568 111,646     146,922  

TY 2023 GeneralExplanationAttachment
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Identifier Return Reference Explanation
  SELF-DEALING, PAGE 5, PART VI-B, 1A 3-4 DURING THE YEAR, GRACE AND MERCY FOUNDATION BECAME AWARE OF ANDURING THE YEAR, GRACE AND MERCY FOUNDATION BECAME AWARE OF ANDURING THE YEAR, GRACE AND MERCY FOUNDATION BECAME AWARE OF ANDURING THE YEAR, GRACE AND MERCY FOUNDATION BECAME AWARE OF ANDURING THE YEAR, GRACE AND MERCY FOUNDATION BECAME AWARE OF AN
  PAGE 5, PART VI-B, LINE 1B  

TY 2023 InvestmentsOtherSchedule2
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
VARIOUS INVESTMENTS   424,413,801 592,743,215

TY 2023 LandEtcSchedule2
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
FURNITURE & FIXTURES 28,182 28,138 44  
COMPUTER EQUIPMENT 474,509 474,509 0  
LEASEHOLD IMPROVEMENTS 99,034 97,199 1,835  


TY 2023 LegalFeesSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
GIBBONS P.C. LEGAL 4,234 0   4,234
JUDY CHANG LAW FIRM LEGAL 8,515 3,353   5,162
LOWENSTEIN SANDLER LLP LEGAL 1,719,982 677,357   1,042,624
SPEARS & IMES LLP LEGAL 29,942 11,792   18,150
VARIOUS LEGAL 3,267 1,287   1,981
BLANK ROME LLP LEGAL 303,007 119,329   183,678


TY 2023 OtherAssetsSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
SECURITY DEPOSIT 1,049,294 1,062,089 1,062,089
INTANGIBLE ASSETS 3,102,144 3,552,375 3,552,375


TY 2023 OtherExpensesSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ADMINISTRATION EXPENSE 277,410 254,914   22,496
CONTRACT HIRE 1,149,247 21,257   1,127,990
Amortization 764,181 382,091    
FILING FEES 2,151 847   1,304
INSURANCE 286,800 112,947   173,854
LOCAL TRANSPORTATION 152,747 24,750   127,997
MARKETING AND CHARITABLE PROGRAM MATERIALS 448,156 486   447,669
MEALS 514,254 64,701   449,553
MISCELLANEOUS 3,666 3,221   445
MOVING & STORAGE 25,546 10,060   15,486
PAYROLL EXPENSES 12,696 5,000   7,696
RESEARCH 472,124 472,124   0
SUPPLIES,POSTAGE,PRINTING,ETC 197,257 57,385   139,872
TECHNOLOGY AND SYSTEMS 2,559,494 390,116   2,169,378


TY 2023 OtherIncomeSchedule2
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
LONE CASCADE, L.P. - FROM K-1 197,925 197,925  
KKR GLOBAL IMPACT FUND SCSP - FROM K-1 557,007 557,007  
TIGER GLOBAL PRIV INV PARTNERS XI - FROM K-1 -40,002 -40,002  
FURTHER GLOBAL CAPITAL PARTNERS-A, LP - FROM K-1 -203,717 -203,717  
ASCEND CAPITAL PARTNERS CO-INVEST (BLOCKER), L.P. -55,305 -55,305  
EXCISE TAX REFUND 750,000 0  


TY 2023 OtherIncreasesSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Description Amount
BOOK TO TAX ADJUSTMENT 7,240,875


TY 2023 OtherLiabilitiesSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Description Beginning of Year - Book Value End of Year - Book Value
EMPLOYEE BENEFITS PAYABLE 18,202 14,785
PE CAPITAL CALLS PAYABLE 0 163,291
CREDIT CARD 105,782 114,055


TY 2023 TaxesSchedule
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL TAXES 878,588 346,003   532,585


TY 2023 TransfersToControlledEntities
Name:
THE GRACE AND MERCY FOUNDATION INC
EIN:
20-8050779
Name US /
Foreign Address		 EIN Description Amount
Sonamu Partners Offshore LP C/O MOURANT OZANNES CORPORATE SERVI
GRAND CAYMAN,KY11108 		98-1689868 CAPITAL CONTRIBUTION 0
Total     0