Glendower Group Inc

Analysis

Glendower Group Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in June 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Glendower Group Inc reported income of $1.5m and spending of $5.3m, spending 343% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $2.9m to $1.5m (-47%), an average of -15% a year. The sharpest change came in the year to September 2023, when income dropped by 59%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Glendower Group Inc sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within CT. Charities of a similar size with the same main cause include Baptist Service Corporation ($1.5m), Rocky Creek Youth Ranch Inc ($1.5m) and World Outreach Fund ($1.5m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 79% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $19.9m against liabilities of $5.9m, net assets of $14.0m. It reported 51 employees.