Burning Glass Institute

Analysis

Burning Glass Institute is a registered charity in United States, based in Bala Cynwyd, PA. It received its IRS tax-exemption ruling in August 2022, 4 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2023, Burning Glass Institute reported income of $7.9m and spending of $5.7m, leaving 28% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $2.3m to $7.9m (+250%), an average of +250% a year. The sharpest change came in the year to December 2023, when income rose by 250%. Over the whole period it spent 79% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Burning Glass Institute sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within PA. Charities of a similar size with the same main cause include Downtown Fort Worth Initiatives Inc ($7.9m), Developemental Enterprises Corp ($7.9m) and Vocational Training Center Inc ($7.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $730k (13% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $4.3m against liabilities of $1.9m, net assets of $2.4m. It reported 27 employees.