Glide Legacy Fund

THE GLIDE LEGACY FUND WAS CREATED TO HELP CREATE A RADICALLY INCLUSIVE, JUST AND LOVING COMMUNITY MOBILIZED TO ALLEVIATE SUFFERING AND BREAK CYCLES OF POVERTY AND MARGINALIZATION, AND SERVE A DIVERSE CROSS-SECTION OF HOMELESS, LOW-INCOME AND MARGINALIZED POPULATIONS WITH A SUITE OF PROGRAMS, INCLUDING BUT NOT LIMITED TO, DAILY FREE MEALS, HOUSING ASSISTANCE, DOMESTIC VIOLENCE COUNSELING AND ABATEMENT, SUBSTANCE ABUSE RECOVERY, CHILDCARE, AFTERSCHOOL AND SUMMER PROGRAMS FOR K-5, A FAMILY RESOURCE CENTER, HIV/HEP-C OUTREACH AND PREVENTION, A DROP-IN LEGAL CLINIC, AND ACCESS TO PRIMARY AND MENTAL HEALTH CARE, ALL WITHIN THE MEANING OF SECTION 501(C)(3).

GLIDE LEGACY FUND ("GLF") IS A NONPROFIT ORGANIZATION FORMED IN 2018 UNDER THE NONPROFIT PUBLIC BENEFIT CORPORATION LAW FOR CHARITABLE PURPOSES. GLF'S PURPOSE IS TO ENGAGE IN CHARITABLE AND EDUCATIONAL ACTIVITIES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, INCLUDING BUT NOT LIMITED TO PROVIDING SOCIAL SERVICES TO THE COMMUNITY.IN 2018, THE BOARD OF TRUSTEES OF THE GLIDE FOUNDATION (THE "FOUNDATION") MADE AN $11,000,000 GRANT TO GLF FOR THE PURPOSE OF GLF ESTABLISHING A BOARD DESIGNATED ENDOWMENT KNOWN AS THE GLIDE PROGRAM FUND, WHICH SHALL BE USED BY GLF TO HELP CREATE A RADICALLY INCLUSIVE, JUST AND LOVING COMMUNITY (CONTINUED ON SCHEDULE O) MOBILIZED TO ALLEVIATE SUFFERING AND BREAK CYCLES OF POVERTY AND MARGINALIZATION, AND SERVE A DIVERSE CROSS-SECTION OF HOMELESS, LOW-INCOME AND MARGINALIZED POPULATIONS WITH A SUITE OF PROGRAMS, INCLUDING BUT NOT LIMITED TO, DAILY FREE MEALS, HOUSING ASSISTANCE, DOMESTIC VIOLENCE COUNSELING AND ABATEMENT, SUBSTANCE ABUSE RECOVERY, CHILDCARE, AFTER-SCHOOL AND SUMMER PROGRAMS FOR K-5, A FAMILY RESOURCE CENTER, HIV/HEP-C OUTREACH AND PREVENTION, A DROP-IN LEGAL CLINIC, AND ACCESS TO PRIMARY AND MENTAL HEALTH CARE, ALL WITHIN THE MEANING OF SECTION 501(C)(3).IN FEBRUARY 2021, THE BOARD OF DIRECTORS OF GLF ANNOUNCED THE DISSOLUTION OF GLF WITH A WIND DOWN OF OPERATIONS COMPLETED BY MAY 31, 2021. AS PART OF THE DISSOLUTION PLAN, GLF WILL SETTLE ALL DEBTS AND LIABILITIES AND THE REMAINING ASSETS OF GLF WILL BE DISTRIBUTED TO THE FOUNDATION. IN APRIL 2021, THE BOARD OF DIRECTORS OF GLF REMOVED THE RESTRICTION ON THE BOARD DESIGNATED ENDOWMENT FUND KNOWN AS THE GLIDE PROGRAM FUND AND APPROVED THE TRANSFER OF THE FUNDS IN THE GLIDE PROGRAM FUND TO THE FOUNDATION. IN MAY 2021, GLF TRANSFERRED THE FUNDS IN THE GLIDE PROGRAM FUND, WHICH AMOUNTED TO $11,790,758, TO THE FOUNDATION ALONG WITH REMAINING FUNDS IN GLF OF $121,445. AS OF MAY 31, 2021, GLF HAS SETTLED ALL DEBTS AND LIABILITIES AND HAVE DISTRIBUTED ALL REMAINING ASSETS TO THE FOUNDATION.