Civic Intelligence

Frederick L Ray Trust

990 • Fiscal year 2021 • EIN 06-6026044

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 29, 2021

Organization ProfileN/A
P O Box 1802Providence, RI 02901-1802

(888) 866-3275

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

70th percentile

26%

Higher net margin than 70% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

33rd percentile

$80,544

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

62nd percentile

15%

Faster asset growth than 62% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

77th percentile

47%

Faster revenue growth than 77% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$9,372,578

Up $1,217,841 (+15%) from 2020

Net Assets

Up

$9,372,578

Up $1,217,841 (+15%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin70th percentile

Revenue

Up

$554,813

Up $178,038 (+47%) from 2020

Expenses

Up

$412,032

Up $54,054 (+15%) from 2020

Net Income

Up

$142,781

Up $123,984 (+660%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2012: $6,946,809Liabilities 2012: $0Net Assets 2012: $6,946,8092012Assets 2013: $7,028,897Liabilities 2013: $0Net Assets 2013: $7,028,8972013Assets 2014: $6,949,323Liabilities 2014: $0Net Assets 2014: $6,949,3232014Assets 2015: $7,205,669Liabilities 2015: $0Net Assets 2015: $7,205,6692015Assets 2016: $7,108,241Liabilities 2016: $0Net Assets 2016: $7,108,2412016Assets 2017: $7,238,095Liabilities 2017: $0Net Assets 2017: $7,238,0952017Assets 2018: $7,769,936Liabilities 2018: $0Net Assets 2018: $7,769,9362018Assets 2019: $8,285,611Liabilities 2019: $0Net Assets 2019: $8,285,6112019Assets 2020: $8,154,737Liabilities 2020: $0Net Assets 2020: $8,154,7372020Assets 2021: $9,372,578Liabilities 2021: $0Net Assets 2021: $9,372,5782021Assets 2022: $9,572,771Liabilities 2022: $0Net Assets 2022: $9,572,7712022Assets 2023: $8,951,887Liabilities 2023: $0Net Assets 2023: $8,951,8872023Assets 2024: $8,952,417Liabilities 2024: $0Net Assets 2024: $8,952,4172024Assets 2025: $9,171,761Liabilities 2025: $0Net Assets 2025: $9,171,7612025

Highlighted filing

2021

Assets$9,372,578
Liabilities$0
Net Assets$9,372,578
Open 2021 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2012: $142,683Expenses 2012: $316,514Net Income 2012: -$173,8312012Revenue 2013: $376,280Expenses 2013: $309,790Net Income 2013: $66,4902013Revenue 2014: $211,378Expenses 2014: $330,028Net Income 2014: -$118,6502014Revenue 2015: $566,226Expenses 2015: $323,605Net Income 2015: $242,6212015Revenue 2016: $286,505Expenses 2016: $328,016Net Income 2016: -$41,5112016Revenue 2017: $256,440Expenses 2017: $336,892Net Income 2017: -$80,4522017Revenue 2018: $626,150Expenses 2018: $335,523Net Income 2018: $290,6272018Revenue 2019: $1,300,590Expenses 2019: $352,648Net Income 2019: $947,9422019Revenue 2020: $376,775Expenses 2020: $357,978Net Income 2020: $18,7972020Revenue 2021: $554,813Expenses 2021: $412,032Net Income 2021: $142,7812021Revenue 2022: $1,717,303Expenses 2022: $398,992Net Income 2022: $1,318,3112022Revenue 2023: -$345,631Expenses 2023: $396,092Net Income 2023: -$741,7232023Revenue 2024: $241,935Expenses 2024: $423,439Net Income 2024: -$181,5042024Revenue 2025: $780,548Expenses 2025: $480,410Net Income 2025: $300,1382025

Highlighted filing

2021

Revenue$554,813
Expenses$412,032
Net Income$142,781
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 29, 2021
Return Version
2020v4.1
Gross Receipts
$1,842,955
Mission and Program Overview

Mission

To benefit the inhabitants of the town of hadaam, ct with vocational training in manual training and the useful arts

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$8,154,737$9,372,578▲ $1,217,841
Investments in Publicly Traded Securities$7,877,754$9,218,207▲ $1,340,453
Savings and Temporary Cash Investments$276,983$154,371▼ $122,612
Total Assets$8,154,737$9,372,578▲ $1,217,841
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,154,737$9,372,578▲ $1,217,841
Total Liabilities and Net Assets / Fund Balance$8,154,737$9,372,578▲ $1,217,841
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleBaseTotal
Bank of America N aTrustee$80,544$80,544
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$554,813
Other Revenue
$0
Change in Net Assets
$142,781
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$324,498
Salaries, Compensation, and Employee Benefits$80,544
Other Expenses$6,990
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$324,498--$324,498
Current Officers, Directors, Trustees, and Key Employees$48,326$32,218-$80,544
All Other Expenses-$5,740-$5,740
Fees for Services Accounting-$1,250-$1,250
Total Functional Expenses$372,824$39,208$0$412,032
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ray School CorporationEast Haddam, CT-Unrestricted General Support$324,498
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8A

“When decisions are made, they are documented in permanent record.”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8B

“N/A”

Form 990, Page 6, Part VI, Line 11-description of Process for Review

“Tax department prepares, reviews and files form 990”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12C

“ANNUAL STATEMENT”

FORM 990, PAGE 6, PART VI, LINE 15A

“Not applicable trust has corporate trustee”

FORM 990, PAGE 6, PART VI, LINE 15B

“Not applicable trust has corporate trustee”

Form 990, Page 6, Part VI, Line 18

“UPON REQUEST”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Frederick L Ray Trust
EIN
06-6026044
Phone
8888663275
Address
P O BOX 1802, PROVIDENCE, RI 02901-1802

Signing Officer

Name
Bank of America N a
Title
Managing Director
Phone
8888663275
Signed
2021-11-29

Organization Details

Principal Officer
Same as Above
Formed
1928
Legal Domicile
Ct
Voting Board Members
0
Independent Board Members
0
Employees
0
Supplemental Narrative

Additional Explanations

Explanation for Form 990, Part XI, Line 9

“Ctf adjustment $1,108,595, tye sales adjustment $(33,535).”

Raw XML Appendix343 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/AllOtherExpensesGrp/TotalAmt05740
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IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt07877754
IRS990/InvestmentsPubTradedSecGrp/EOYAmt09218207
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt09372578
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IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc0TAXES
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IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0SAME AS ABOVE
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt048326
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0274284
IRS990/PYInvestmentIncomeAmt0376775
IRS990/PYOtherExpensesAmt09087
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IRS990/PYSalariesCompEmpBnftPaidAmt074607
IRS990/PYTotalExpensesAmt0357978
IRS990/PYTotalRevenueAmt0376775
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0142781
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/AdjustedNetIncomeGrp/AdjustedGrossIncomeGrp/PriorYearAmt00
IRS990ScheduleA/AdjustedNetIncomeGrp/DepreciationDepletionGrp/PriorYearAmt00
IRS990ScheduleA/AdjustedNetIncomeGrp/NetSTCapitalGainAdjNetIncmGrp/PriorYearAmt00
IRS990ScheduleA/AdjustedNetIncomeGrp/OtherExpensesGrp/PriorYearAmt00
IRS990ScheduleA/AdjustedNetIncomeGrp/OtherGrossIncomeGrp/PriorYearAmt00
IRS990ScheduleA/AdjustedNetIncomeGrp/ProductionIncomeGrp/PriorYearAmt00
IRS990ScheduleA/AdjustedNetIncomeGrp/RecoveriesPYDistributionsGrp/PriorYearAmt00
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IRS990ScheduleA/DistributableAmountGrp/CYDistributableAsAdjustedAmt00
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IRS990ScheduleA/DistributableAmountGrp/CYIncomeTaxImposedPYAmt00
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IRS990ScheduleA/DistributionAllocationsGrp/ExcessDistributionCyovYr5Amt00
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0The trustee meets periodically with the officers/directors of the charity to discuss the charity's budget so that the trustee may better meet the needs of the charity through the investment strategy of the trust. The organization has the input on the use of income.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1We maintain open dialog of investments to support the needs of the supported organization
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IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3NonFuncInd0X
IRS990ScheduleA/SupportSumAmt0324498
IRS990ScheduleA/TrustIntegralPartTestInd0X
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0UNRESTRICTED GENERAL SUPPORT
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0064230295
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PER BANK POLICY THIS IS MONITORED BY THE TRUST OFFICER
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WHEN DECISIONS ARE MADE, THEY ARE DOCUMENTED IN PERMANENT RECORD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TAX DEPARTMENT PREPARES, REVIEWS AND FILES FORM 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUAL STATEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NOT APPLICABLE TRUST HAS CORPORATE TRUSTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NOT APPLICABLE TRUST HAS CORPORATE TRUSTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8CTF ADJUSTMENT $1,108,595, TYE SALES ADJUSTMENT $(33,535).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8EXPLANATION FOR FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08154737
IRS990/TotalAssetsEOYAmt09372578
IRS990/TotalAssetsGrp/BOYAmt08154737
IRS990/TotalAssetsGrp/EOYAmt09372578
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt039208
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0372824
IRS990/TotalFunctionalExpensesGrp/TotalAmt0412032
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08154737
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09372578
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0372824
IRS990/TotalReportableCompFromOrgAmt080544
IRS990/TotalRevenueGrp/ExclusionAmt0160586
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0554813
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08154737
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09372578
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BANK OF AMERICA N A
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08888663275
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREDERICK L RAY TRUST
ReturnHeader/Filer/BusinessNameControlTxt0RAY
ReturnHeader/Filer/EIN0066026044
ReturnHeader/Filer/PhoneNum08888663275
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 1802
ReturnHeader/Filer/USAddress/CityNm0PROVIDENCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd0029011802
ReturnHeader/ReturnTs02021-11-29T10:00:13-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,372,578
Liabilities
$0
Net assets
$9,372,578
Revenue
$554,813
Expenses
$412,032
Net income
$142,781
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.17$0.00$9.17$0.78$0.48$0.30
2024Detailed filing. Detailed filing data is available for this year.$8.95$0.00$8.95$0.24$0.42$0.18
2023Detailed filing. Detailed filing data is available for this year.$8.95$0.00$8.95$0.35$0.40$0.74
2022Detailed filing. Detailed filing data is available for this year.$9.57$0.00$9.57$1.72$0.40$1.32
2021Detailed filing. Detailed filing data is available for this year.$9.37$0.00$9.37$0.55$0.41$0.14
2020Summary only. Only limited summary data is available for this year.$8.15$0.00$8.15$0.38$0.36$0.02
2019Summary only. Only limited summary data is available for this year.$8.29$0.00$8.29$1.30$0.35$0.95
2018Summary only. Only limited summary data is available for this year.$7.77$0.00$7.77$0.63$0.34$0.29
2017Summary only. Only limited summary data is available for this year.$7.24$0.00$7.24$0.26$0.34$0.08
2016Summary only. Only limited summary data is available for this year.$7.11$0.00$7.11$0.29$0.33$0.04
2015Summary only. Only limited summary data is available for this year.$7.21$0.00$7.21$0.57$0.32$0.24
2014Summary only. Only limited summary data is available for this year.$6.95$0.00$6.95$0.21$0.33$0.12
2013Summary only. Only limited summary data is available for this year.$7.03$0.00$7.03$0.38$0.31$0.07
2012Summary only. Only limited summary data is available for this year.$6.95$0.00$6.95$0.14$0.32$0.17