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Glide Legacy Fund

San Francisco, CAUnknown exempt organizationEIN 83-1198943

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).

99¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $5.4M a year · 178% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
3
named funders · $1.1M
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.9M
+81% vs prior year
Spent
$14.2M
To programs
99%
Net assets
$0
By yearFY2020–FY2021
Revenue
$3.9M
FY2021▲ +81%
Revenue by fiscal year
FY2020$2.1M
FY2021$3.9M
Expenses
$14.2M
FY2021▲ +451%
Expenses by fiscal year
FY2020$2.6M
FY2021$14.2M
Net assets
$0
FY2021▼ -100%
Net assets by fiscal year
FY2020$11.0M
FY2021$0

From the FY2021 Form 990 (year ending May 2021) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $14.1M Management & general 1% · $91K Fundraising 0% · $8K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Malcom Walter
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Glide Legacy Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides meals, housing, counseling, and healthcare to alleviate suffering and break poverty cycles.

Provided by the organization

This section is blank until Glide Legacy Fund claims this page.

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1 program service account for $14.1M of program spending, described in the organization's own filed words · FY2020.
01

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…

$14.1Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2020$1.0M
National Philanthropic TrustFY2020$100K
Fidelity Investments Charitable Gift FundFY2020$11K
Total grants receivedfrom 3 funders$1.1M
See all 3 funders →
Grants paid · 2 grants · $16.6M · 2019–2020
Glide FoundationCA · FY2020$14,087,203
Glide FoundationCA · FY2019$2,470,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.9M
Ln 12
Investment incomeLn 3$2.7M
Gifts and grantsLn 1h$1.2M
Money outPt IX
$14.2M
Ln 25
Programscol B$14.1M
Managementcol C$91K
Fundraisingcol D$8K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Noncash giftsLn 1g$52K
Investment incomeLn 3$2.7M
Gains on assetsLn 7$2.5M
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$769K$0
InvestmentsLn 11–13$10.1M$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$11.1M$0
LiabilitiesLn 26$5K$0
Net assetsLn 32$11.0M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14.1M$14.1M
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$60K$60K
Other fees for servicesLn 11g$27K$18K$8K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$14.2M$14.1M$91K$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $3.9M$14.2M−$10.3M$0 990 PDF
FY2020 $2.1M$2.6M−$437K$11.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $3,880,323 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,175,652
VIII-1g Noncash contributions (included above)$51,822
VIII-1h Total contributions, gifts and grants$1,175,652
VIII-3 Investment incomeExcluded from tax $182,717$182,717
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,521,954$2,521,954
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,704,671$3,880,323
Part IX · Statement of functional expenses $14,186,361 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $14,087,203$14,087,203
IX-11b Legal feesManagement $4,876$4,876
IX-11c Accounting feesManagement $60,275$60,275
IX-11g Other fees for servicesManagement $18,253 · Fundraising $8,430$26,683
IX-23 InsuranceManagement $5,232$5,232
IX-24 Other expenses (24a–d)Management $2,092$2,092
IX-25 Total functional expensesPrograms $14,087,203 · Management $90,728 · Fundraising $8,430$14,186,361
Part X · Balance sheet $0 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $35,861$0
X-2 Savings and temporary cash investmentsStart of year $733,618$0
X-3 Pledges and grants receivableStart of year $156,271$0
X-4 Accounts receivableStart of year $33,000$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $10,094,685$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $11,053,435$0
X-17 Accounts payable and accrued expensesStart of year $5,191$0
X-26 Total liabilitiesStart of year $5,191$0
X-27 Net assets without donor restrictionsStart of year $212,271$0
X-28 Net assets with donor restrictionsStart of year $10,835,973$0
X-32 Total net assets or fund balancesStart of year $11,048,244$0
X-33 Total liabilities and net assetsStart of year $11,053,435$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$3,880,323
XI-2 Total expenses$14,186,361
XI-3 Revenue less expenses−$10,306,038
XI-4 Net assets at start of year$11,048,244
XI-5 Net unrealized gains (losses) on investments−$742,206
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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