Glide Legacy Fund

Nonprofit profile at a glance

EIN
831198943
IRS 990 coverage
2018–2020
Forms available
Form 990 2020
Location
San Francisco, CA, USA
Phone
4156373753
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$3,880,323
Expenses
$14,186,361
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • CATHERINE DODD (CHAIR)
  • MALCOM WALTER (SECRETARY)
  • DONALD K TAMAKI (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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).

What it reported doing in 2020

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.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 11
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: $139.46 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -265.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 127.6% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: -68.1% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -79.3% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.3% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $14.1M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2018 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.