Glass Charitable Foundation
- Assets
- $15.2m
- Revenue
- $402.3k
- Investments
- $14.1m
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 04/1999
- Data as of
- 12/2022
- EIN
- 36-7255316
Organization Overview
Glass Charitable Foundation is located in Springfield, MA. The organization was established in 1999. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glass Charitable Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Glass Charitable Foundation generated $402.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $598.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Glass Charitable Foundation has awarded 133 individual grants totaling $13,276,123. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey D Glass Trustee | 2 | $0 | |
Dale St Lawrence Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $241,401 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $146,453 |
| Capital Gain Net Income | $148,721 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $14,455 |
| Total Revenue | $402,309 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $841 |
| Taxes | $52,132 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,551 |
| Total operating and administrative expenses | $164,386 |
| Contributions, gifts, grants paid | $434,000 |
| Total expenses and disbursements | $598,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17 |
| Savings and temporary cash investments | $431,679 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $14,070,547 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $653,040 |
| Total assets | $15,155,283 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Glass Charitable Foundation has awarded $434,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ARLINGTON FREE CLINIC PURPOSE: GENERAL USE | $10,000 |
ABBY'S HOUSE PURPOSE: GENERAL USE | $10,000 |
FOOD BANK OF THE ROCKIES PURPOSE: GENERAL USE | $50,000 |
BLESSINGS IN A BACKPACK PURPOSE: GENERAL USE | $50,000 |
MASSACHUSETTS GENERAL HOSPITAL PURPOSE: GENERAL USE | $50,000 |
NORTHAMPTON SURVIVAL CENTER PURPOSE: GENERAL USE | $50,000 |