GLIDE ECONOMIC DEVELOPMENT CORPORATION (EIN 943365110) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

MELVIN CARRIERE

Phone

4159247707

Tax Period

2023-01-01 to 2023-12-31

GLIDE ECONOMIC DEVELOPMENT CORPORATION, founded in 2000, is a small nonprofit in the Housing & Shelter sector that reported $827K in total revenue in fiscal year 2023. Revenue surged 357% from the prior year, signaling strong growth momentum. Expenses of $33.1M exceeded revenue, resulting in a 3899% operating deficit.

Mission

GEDC'S PRIMARY ACTIVITIES ARE THE OVERSIGHT AND MANAGEMENT OF AFFORDABLE HOUSING PROJECTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,615

Program Service Revenue $825,002

Investment Income $182

Other Revenue $0

TOTAL REVENUE $826,799

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $33,024,796

Other Expenses $33,063,746

TOTAL EXPENSES $33,063,746

Year-over-Year Comparison

	2023	2022	Change
Revenue	$826,799	$180,969	+3.6%
Expenses	$33,063,746	$2,471,637	+12.4%
Net Income	$-32,236,947	$-2,290,668	+13.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD PAUL	SECRETARY & TREASURER	0.25	Officer Director	$0	$0	$0
MELVIN CARRIERE	PRESIDENT & COO	22.00	Officer Director	$0	$0	$0
THOMAS S BECHARD	CHAIRMAN	0.25	Officer Director	$0	$0	$0
DION L GRIFFIN	DIRECTOR	3.00	Director	$0	$0	$0
SEAN JEFFRIES	DIRECTOR	0.25	Director	$0	$0	$0
ANDREW C WOODARD	DIRECTOR	0.25	Director	$0	$0	$0
JERRY VALLERY	DIRECTOR	0.25	Director	$0	$0	$0
ROD HENMI	DIRECTOR	0.25	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$826,799	$33,063,746	$1,951,009	$-32,236,947
2022	$180,969	$2,471,637	$9,436,707	$-2,290,668
2021	$328,718	$1,431,233	$9,861,139	$-1,102,515
2020	$91,302	$965,258	$11,144,921	$-873,956
2019	$106,046	$176,374	$11,823,621	$-70,328
2018	$144,447	$175,874	$11,893,695	$-31,427

GLIDE ECONOMIC DEVELOPMENT CORPORATION