Glcac Support Corporation

Analysis

Glcac Support Corporation is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Glcac Support Corporation reported income of $72k and spending of $74, leaving 100% of income unspent that year. Across the 2 years on record, from September 2022 to September 2023, income fell from $2.5m to $72k (-97%), an average of -97% a year. The sharpest change came in the year to September 2023, when income dropped by 97%. Over the whole period it spent 0.0% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Glcac Support Corporation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 37th percentile within MA. Charities of a similar size with the same main cause include Ouzinkie Community Holding Corporation ($72k), President Theatre Inc ($72k) and Philomatheon Club of Loveland Colorado ($72k).

At year end it held assets of $18.7m against liabilities of $15.8m, net assets of $2.8m.