Glide Economic Development Corporation

Analysis

Glide Economic Development Corporation is a registered charity in United States, based in Corte Madera, CA. It received its IRS tax-exemption ruling in October 2001, 25 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Glide Economic Development Corporation reported income of $827k and spending of $33.1m, spending 3999% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $106k to $827k (+680%), an average of +67% a year. The sharpest change came in the year to December 2023, when income rose by 357%. Over the whole period it spent 2484% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Glide Economic Development Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include Unity Point Counseling and Resource Center Inc ($827k), Neighborhood Housing Renewal Corporation III ($827k) and NHDC Forest Hills Apartments Inc ($826k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. At year end it held assets of $2.0m against liabilities of $1.4m, net assets of $558k.

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.