Glenridge on Palmer Ranch Inc

Analysis

Glenridge on Palmer Ranch Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in December 1998, 28 years ago. 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 2022, Glenridge on Palmer Ranch Inc reported income of $41.5m and spending of $42.4m, spending 102% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $36.9m to $41.5m (+12%), an average of +4.0% a year. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Glenridge on Palmer Ranch Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Margaret Woodbury Strong Museum ($41.5m), Baldwin Family Health Care ($41.6m) and Rush Health Systems Inc ($41.4m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 3.5% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $305k (0.7% of expenses). Other salaries and wages came to $13.3m. At year end it held assets of $213.0m against liabilities of $308.0m, net assets of -$95.0m. It reported 421 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.