Glades Academy Inc

Analysis

Glades Academy Inc is a registered charity in United States, based in Palm Beach, FL. It received its IRS tax-exemption ruling in June 2001, 25 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, Glades Academy Inc reported income of $3.2m and spending of $3.3m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.6m to $3.2m (+26%), an average of +5.9% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 99% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Glades Academy Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Lordship Foundation Inc ($3.2m), Alliance for Cancer Gene Therapy Inc ($3.2m) and San Francisco First Tee ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $132k (4.0% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $1.9m against liabilities of $894k, net assets of $1.0m. It reported 28 employees.