Glacc Inc

Analysis

Glacc Inc is a registered charity in United States, based in Leesburg, FL. It received its IRS tax-exemption ruling in December 2013, 13 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 December 2023, Glacc Inc reported income of $212k and spending of $115k, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $121k to $212k (+76%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Glacc Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 59th percentile within FL. Charities of a similar size with the same main cause include New Hope on the Last Frontier ($212k), Open Doors to Future Possibilities Inc ($212k) and Small Farm Institute Inc ($212k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. At year end it held assets of $358k against liabilities of $0, net assets of $358k.