Glenwood Academy

Analysis

Glenwood Academy is a registered charity in United States, based in Glenwood, IL. It received its IRS tax-exemption ruling in November 1942, 84 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Glenwood Academy reported income of $6.8m and spending of $4.6m, leaving 32% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $5.8m to $6.8m (+17%), an average of +4.1% a year. The sharpest change came in the year to August 2021, when income rose by 166%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Glenwood Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IL. Charities of a similar size with the same main cause include Memphis Delta Preparatory Charter School Inc ($6.8m), Hope Academy Charter School ($6.8m) and Monterey College of Law ($6.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 72% of the total. Compensation of current officers, directors and key employees was $724k (16% of expenses). Other salaries and wages came to $460k. At year end it held assets of $88.1m against liabilities of $18.6m, net assets of $69.6m. It reported 105 employees.