Grace Covenant Presbyterian Church Foundation Inc

Grace Covenant Presbyterian Church Foundation Inc is a nonprofit organization based in Florida, specifically designed to support religious and philanthropic activities.

History

The foundation was established in October 2000, following the sale of property that had been donated to Grace Covenant Presbyterian Church. This church has a rich history, dating back to its founding in 1947 as a response to the need for a Christian presence in southeast Orlando.

Purpose and Mission

The foundation focuses on providing charitable disbursements, supporting outreach and mission programs, youth initiatives, and benevolence initiatives. It operates under the category of philanthropy, voluntarism, and grantmaking foundations.

Financial Overview

As a private grantmaking foundation, the organization relies on contributions, investment income, and asset sales as primary sources of revenue. In recent years, it has consistently distributed its resources entirely towards charitable causes, maintaining zero liabilities and substantial total assets.

Key Events

Significant growth occurred in 2013 when the foundation received a substantial bequest, increasing its assets and enabling it to expand its annual support for missions. This generosity allows the foundation to distribute between $30,000 and $40,000 annually.

Governance

The foundation is managed by a board of trustees, none of whom receive compensation. This reflects the organization's commitment to channeling its resources towards community support rather than administrative costs.