Glenridge Charitable Foundation Inc

Analysis

Glenridge Charitable Foundation Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Charitable Foundation Inc reported income of $1.5m and spending of $1.7m, spending 113% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $817k to $1.5m (+83%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 50%. Over the whole period it spent 112% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Glenridge Charitable Foundation Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Hancock County Agricultural Society ($1.5m), Together for Good ($1.5m) and Elko Senior Citizen Center Inc ($1.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $129k against liabilities of $200k, net assets of -$71k.

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.