The Grateful Lives Foundation
To support Christian-based ministries that help people live a dedicated Christian life.
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$84.8M
Total Expenses
$17.0M
Net Assets
$1.1B
Employees
0
Grants Paid
$16.6M
Program Expense Ratio
97.6%
This nonprofit profile presents IRS Form 990 tax filing data for The Grateful Lives Foundation (EIN: 32-6402383), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
The Grateful Lives Foundation is a 501(c)(3) nonprofit headquartered in Wilmington, DE, founded in 2015. It is classified under NTEE code T22 (Private Independent Foundations), within the Philanthropy, Voluntarism & Grantmaking category. The organization has held tax-exempt status since 2016. In its 2024 filing, the organization reported $84.8M in total revenue, a 53.1% increase from the prior year, and $17.0M in total expenses. , Trustee, is the highest-compensated individual at $361,190. The organization runs 1 program, totaling $16.6M in program expenses. 3 of 6 recommended governance policies are in place.
The Grateful Lives Foundation is classified under NTEE code T22 (Private Independent Foundations), which falls within the Philanthropy, Voluntarism & Grantmaking category. Its foundation type is 21.
Programs(Tax Year 2024)
1 record
The Grateful Lives Foundation operates 1 program, with total program expenses of $16.6M. The Grateful Lives Foundation's largest program accounts for 100% of total program spending.
The Foundation made grants, totaling $16,575,000, to its supported organization, the National Christian Charitable Foundation (NCF).
Financial Overview(Tax Years 2020–2024)
5 records
Over the past 5 years, The Grateful Lives Foundation's revenue has grown from $38.9M to $84.8M, a 118.1% increase. Program expenses represent 98% of total spending.
Revenue increased 53.1% year-over-year, while expenses grew 33.8%. net assets rose to $1.1B, up 57.1% from the prior year.
The Grateful Lives Foundation derives 74% from contributions and grants, with 26% from investment income.
Revenue is primarily driven by contributions and grants (74%), with investment income at 26%.
The Grateful Lives Foundation allocates 98% to programs, 2% to management and general.
Revenue grew by 53.1% while expenses grew by only 33.8%, suggesting improving operational efficiency.
The Grateful Lives Foundation distributed $16.6M in grants to other organizations and individuals, representing 98% of total expenses.
Over 5 filings from 2020–2024, The Grateful Lives Foundation grew revenue from $38.9M to $84.8M (+118.1%) while maintaining a program expense ratio of 98%.
The Grateful Lives Foundation holds $1.1B in total assets against $81K in liabilities (debt-to-asset ratio of 0%). The organization has 787.2 months of operating reserves. Cash and equivalents of $0 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $84.8M | $63.0M | $0 | $0 | $21.7M |
| 2023 | $55.3M | $42.0M | $0 | $0 | $13.3M |
| 2022 | $44.8M | $35.6M | $0 | $0 | $9.1M |
| 2021 | $48.4M | $33.2M | $0 | $0 | $15.3M |
| 2020 | $38.9M | $26.7M | $0 | $0 | $12.2M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $17.0M | $16.6M | $415K | $0 | $16.6M |
| 2023 | $12.7M | $12.4M | $338K | $0 | $12.4M |
| 2022 | $23.1M | $22.9M | $246K | $0 | $22.9M |
| 2021 | $19.6M | $19.4M | $227K | $0 | $19.4M |
| 2020 | $16.4M | $16.2M | $189K | $0 | $16.2M |
Program Expense Ratio
97.6%
Admin Expense Ratio
2.4%
Fundraising Efficiency
—
Operating Reserve
787.2 mo
People & Compensation(Tax Year 2024)
7 records
The Grateful Lives Foundation reported compensation for 7 officers and key employees. Total officer compensation was $1.3M, representing 7.5% of total expenses.
The Grateful Lives Foundation's highest-compensated individual received $361K in total compensation. Total officer compensation of $1.3M represents 7.5% of total expenses.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| Trustee | Trustee | 10.00 | $361,190 | $0 | $361,190 | |
| Michael King | Trustee | Director | 1.00 | $0 | $255,100 | $303,070 |
| Dana Ring | Secretary/Trustee | OfficerDirector | 1.00 | $0 | $237,362 | $266,693 |
| Paul Forbes | Trustee | Director | 1.00 | $0 | $205,093 | $239,624 |
| Kelly Shepard | Trustee/Former Secretary | Director | 1.00 | $0 | $85,197 | $111,955 |
| Devon Rolf | Trustee | Director | 1.00 | $0 | $0 | $0 |
| Jonathan C Burrell | President/Trustee | OfficerDirector | 5.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
Michael King
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Dana Ring
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Paul Forbes
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Governance & Compliance(Tax Year 2024)
The Grateful Lives Foundation has 3 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 7 members, 4 of whom are independent.
The Grateful Lives Foundation does not have audited financial statements.
The Grateful Lives Foundation has family or business relationships among officers, directors, or key employees.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
1 record
The Grateful Lives Foundation awarded $16.6M across 1 grant to organizations. Top recipients include National Christian Charitable Foundation Inc (NCF) (Alpharetta, GA) — $16.6M for 2024 unrestricted grant for general purposes.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| National Christian Charitable Foundation Inc (NCF)581493949 | Alpharetta, GA | $16.6M | 2024 unrestricted grant for general purposes |
Filing History(Tax Years 2016–2024)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $84.8M | $17.0M | $1.1B |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $55.3M | $12.7M | $709.5M |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $44.8M | $23.1M | $508.0M |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $48.4M | $19.6M | $671.5M |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $38.9M | $16.4M | $575.8M |
| 2016–2019 | No filings acquired yet | ||||
Frequently Asked Questions
What does The Grateful Lives Foundation do?
To support Christian-based ministries that help people live a dedicated Christian life.
How much revenue does The Grateful Lives Foundation have?
The Grateful Lives Foundation reported $84,765,909 in total revenue for tax year 2024, up 53.1% from the prior year.
Who is the highest-paid executive at The Grateful Lives Foundation?
, Trustee, received $361,190 in total compensation as of tax year 2024.
Is The Grateful Lives Foundation a 501(c)(3)?
Yes, The Grateful Lives Foundation is classified as a 501(c)(3) tax-exempt organization.
Where is The Grateful Lives Foundation located?
The Grateful Lives Foundation is headquartered in Wilmington, DE 19807.
What type of nonprofit is The Grateful Lives Foundation?
The Grateful Lives Foundation is classified under NTEE code T22 (Private Independent Foundations), within the Philanthropy, Voluntarism & Grantmaking category. It is a 501(c)(3) tax-exempt organization.
Is The Grateful Lives Foundation audited?
No, The Grateful Lives Foundation does not currently have audited financial statements.
Does The Grateful Lives Foundation give grants?
Yes, The Grateful Lives Foundation distributed $16,575,000 in grants to other organizations and individuals in tax year 2024. Top recipients include National Christian Charitable Foundation Inc (NCF).
Data Source
Prepared by: McGuireWoods LLP, Richmond, VA
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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