Glomcon Foundation

Analysis

Glomcon Foundation is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. 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, Glomcon Foundation reported income of $935k and spending of $231k, leaving 75% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $320k to $935k (+192%), an average of +192% a year. The sharpest change came in the year to December 2023, when income rose by 192%. Over the whole period it spent 26% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Glomcon Foundation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within DE. Charities of a similar size with the same main cause include North Coast Clinics Network ($935k), Purpose of Recovery Inc ($936k) and Tahoe Forest Health System Foundation ($935k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. At year end it held assets of $969k against liabilities of $6,291, net assets of $962k.