Glen at Hiland Meadows Inc

Analysis

Glen at Hiland Meadows Inc is a registered charity in United States, based in Queensbury, NY. It received its IRS tax-exemption ruling in March 2000, 26 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 December 2023, Glen at Hiland Meadows Inc reported income of $10.3m and spending of $12.3m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.4m to $10.3m (+60%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Glen at Hiland Meadows Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Sholom Community Alliance ($10.3m), Milford Housing Development Corperation ($10.3m) and Community Affordable Housing Equity Corporation ($10.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $176k (1.4% of expenses). Other salaries and wages came to $4.2m. At year end it held assets of $42.7m against liabilities of $56.4m, net assets of -$13.7m. It reported 251 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.