Glenbrook Underground Inc

Analysis

Glenbrook Underground Inc is a registered charity in United States, based in Carson City, NV. It received its IRS tax-exemption ruling in July 2022, 4 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 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, Glenbrook Underground Inc reported income of $3.0m and spending of $931k, leaving 69% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $801k to $3.0m (+271%), an average of +270% a year. The sharpest change came in the year to December 2023, when income rose by 271%. Over the whole period it spent 28% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Glenbrook Underground Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within NV. Charities of a similar size with the same main cause include Quality Education Services and Training ($3.0m), Lower Allen Township Development Authority ($3.0m) and Citysquare Housing ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $2.7m against liabilities of $0, net assets of $2.7m.