Global Advance Inc

Analysis

Global Advance Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in March 1991, 35 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Global Advance Inc reported income of $2.9m and spending of $2.2m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $2.9m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2021, when income rose by 27%. Over the whole period it spent 80% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Global Advance Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 92nd percentile within TX. Charities of a similar size with the same main cause include Kollel Zichron Avrohom Inc ($2.9m), Mosdos Kever Rachel Imeinu ($2.9m) and Sibi Foundation ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. Compensation of current officers, directors and key employees was $295k (13% of expenses). Other salaries and wages came to $696k. At year end it held assets of $8.4m against liabilities of $24k, net assets of $8.4m. It reported 11 employees.