Civic Intelligence

Frederick L Ray Trust

990 • Fiscal year 2023 • EIN 06-6026044

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 27, 2023

Organization ProfileN/A
PO Box 653067Dallas, TX 75265-3067

(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.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2023

Net Margin

100th percentile

215%

Higher net margin than 100% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

31st percentile

$78,567

Higher top officer pay than 31% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

14th percentile

-6.5%

Faster asset growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets8th percentile

Assets

Down

$8,951,887

Down $620,884 (-6.5%) from 2022

Net Assets

Down

$8,951,887

Down $620,884 (-6.5%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$345,631

Down $2,062,934 (-120%) from 2022

Expenses

Down

$396,092

Down $2,900 (-0.7%) from 2022

Net Income

Down

-$741,723

Down $2,060,034 (-156%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2023

Assets$8,951,887
Liabilities$0
Net Assets$8,951,887
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2023

Revenue-$345,631
Expenses$396,092
Net Income-$741,723
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 27, 2023
Return Version
2022v5.0
Gross Receipts
$1,961,404
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$9,572,771$8,951,887▼ $620,884
Investments in Publicly Traded Securities$9,200,624$8,853,222▼ $347,402
Savings and Temporary Cash Investments$372,147$98,665▼ $273,482
Total Assets$9,572,771$8,951,887▼ $620,884
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$9,572,771$8,951,887▼ $620,884
Total Liabilities and Net Assets / Fund Balance$9,572,771$8,951,887▼ $620,884
Compensation and Service Providers
Top Officer Pay31st percentile

Employees

NameTitleBaseTotal
Bank of America N aTrustee$78,567$78,567
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-345,631
Other Revenue
$0
Change in Net Assets
$-741,723
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$302,771
Salaries, Compensation, and Employee Benefits$78,567
Other Expenses$14,754
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$302,771--$302,771
Current Officers, Directors, Trustees, and Key Employees$47,140$31,427-$78,567
All Other Expenses-$12,761-$12,761
Fees for Services Accounting-$1,250-$1,250
Fees for Services Legal-$743-$743
Total Functional Expenses$349,911$46,181$0$396,092
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ray School CorporationEast Haddam, CT-Unrestricted General Support$302,771
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
PO BOX 653067, DALLAS, TX 75265-3067

Signing Officer

Name
Bank of America N a
Title
Managing Director
Phone
8888663275
Signed
2023-10-27

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 $120,838, rounding $1.”

Raw XML Appendix347 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.

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IRS990/PartialLiquidationInd0false
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IRS990ScheduleI/RecipientTable/USAddress/CityNm0EAST HADDAM
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CT
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 $120,838, ROUNDING $1.
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/TotalAssetsBOYAmt09572771
IRS990/TotalAssetsEOYAmt08951887
IRS990/TotalAssetsGrp/BOYAmt09572771
IRS990/TotalAssetsGrp/EOYAmt08951887
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt046181
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0349911
IRS990/TotalFunctionalExpensesGrp/TotalAmt0396092
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09572771
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08951887
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0349911
IRS990/TotalReportableCompFromOrgAmt078567
IRS990/TotalRevenueGrp/ExclusionAmt0172591
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-345631
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09572771
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08951887
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BANK OF AMERICA N A
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08888663275
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREDERICK L RAY TRUST
ReturnHeader/Filer/BusinessNameControlTxt0RAY
ReturnHeader/Filer/EIN0066026044
ReturnHeader/Filer/PhoneNum08888663275
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 653067
ReturnHeader/Filer/USAddress/CityNm0DALLAS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd0752653067
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/ReturnTs02023-10-27T14:00:36-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,951,887
Liabilities
$0
Net assets
$8,951,887
Revenue
-$345,631
Expenses
$396,092
Net income
-$741,723
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