Glorybound

Analysis

Glorybound is a registered charity in United States, based in Maple Grove, MN. It received its IRS tax-exemption ruling in June 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 March 2023, Glorybound reported income of $67k and spending of $58k, spending 88% of its income. Across the 5 years on record, from March 2019 to March 2023, income fell from $117k to $67k (-43%), an average of -13% a year. The sharpest change came in the year to March 2021, when income dropped by 27%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Glorybound sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 23rd percentile within MN. Charities of a similar size with the same main cause include Peachcenter Ministries Inc ($67k), Kaleidoscope Ministries ($67k) and Dancing Well the Soldier Project Inc ($67k).

On its Form 990-EZ for the period ending March 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $12k against liabilities of $0, net assets of $12k.