Glad Tidings Community Development Corporation

Analysis

Glad Tidings Community Development Corporation is a registered charity in United States, based in Hayward, CA. It received its IRS tax-exemption ruling in August 2020, 6 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Glad Tidings Community Development Corporation reported income of $1.6m and spending of $763k, leaving 52% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $187k to $1.6m (+757%), an average of +71% a year. The sharpest change came in the year to September 2022, when income rose by 204%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Glad Tidings Community Development Corporation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Turning Point Housing Development Fund Corporation ($1.6m), Community Homes of Lebanon County Inc ($1.6m) and Lyngblomsten Apartments Inc ($1.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 2.5% of the total. Other salaries and wages came to $295k. At year end it held assets of $3.9m against liabilities of $522k, net assets of $3.4m. It reported 8 employees.