Civic Intelligence

Gray Collection Trust C/O Richard & Mary Gray

990PF • Fiscal year 2022 • EIN 26-1596672

Jan 01, 2022 to Dec 31, 2022 • Filed on May 29, 2024

1130 N Lake Shore Dr 5EChicago, IL 60611-1048

(312) 642-8877

Siviq Scores

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

Liabilities / Assets

24th percentile

0.00x

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

2022 filings • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

21st percentile

0.00x

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

2022 filings • $5M-$10M nonprofits • Source year 2022

Net Margin

97th percentile

100%

Higher net margin than 97% of similar nonprofits.

2022 filings • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • $5M-$10M nonprofits • Source year 2022

Asset Growth

100th percentile

1357%

Faster asset growth than 100% of similar nonprofits.

2022 filings • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

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

Annualized from 2021 to 2022

Assets

Up

$8,577,914

Up $7,989,329 (+1357%) from 2021

Net Assets

Up

$8,577,914

Up $7,989,329 (+1357%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue

Up

$6,762,517

Up $6,843,207 (+8481%) from 2021

Expenses

Down

$23,188

Down $1,324,083 (-98%) from 2021

Net Income

Up

$6,739,329

Up $8,167,290 (+572%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $1,778,617Liabilities 2011: $0Net Assets 2011: $1,778,6172011Assets 2012: $2,611,673Liabilities 2012: $0Net Assets 2012: $2,611,6732012Assets 2013: $5,409,038Liabilities 2013: $0Net Assets 2013: $5,409,0382013Assets 2014: $8,194,293Liabilities 2014: $0Net Assets 2014: $8,194,2932014Assets 2015: $9,524,266Liabilities 2015: $0Net Assets 2015: $9,524,2662015Assets 2016: $12,820,926Liabilities 2016: $0Net Assets 2016: $12,820,9262016Assets 2019: $1,130,433Liabilities 2019: $0Net Assets 2019: $1,130,4332019Assets 2020: $855,681Liabilities 2020: $0Net Assets 2020: $855,6812020Assets 2021: $588,585Liabilities 2021: $0Net Assets 2021: $588,5852021Assets 2022: $8,577,914Liabilities 2022: $0Net Assets 2022: $8,577,9142022Assets 2023: $568,342Liabilities 2023: $0Net Assets 2023: $568,3422023Assets 2024: $558,818Liabilities 2024: $0Net Assets 2024: $558,8182024

Highlighted filing

2022

Assets$8,577,914
Liabilities$0
Net Assets$8,577,914

Operations Trend

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

$40M$20M$0-$20M-$40MExpenses 2011: $11,0342011Expenses 2012: $21,1912012Revenue 2013: $3,718,038Expenses 2013: $21,515Net Income 2013: $3,696,5232013Revenue 2014: $5,100,000Expenses 2014: $46,148Net Income 2014: $5,053,8522014Revenue 2015: $3,274,000Expenses 2015: $36,938Net Income 2015: $3,237,0622015Revenue 2016: $5,178,894Expenses 2016: $68,879Net Income 2016: $5,110,0152016Revenue 2019: $100,543Expenses 2019: $21,921,142Net Income 2019: -$21,820,5992019Revenue 2020: $55,330Expenses 2020: $3,201,040Net Income 2020: -$3,145,7102020Revenue 2021: -$80,690Expenses 2021: $1,347,271Net Income 2021: -$1,427,9612021Revenue 2022: $6,762,517Expenses 2022: $23,188Net Income 2022: $6,739,3292022Revenue 2023: $5,595,931Expenses 2023: $6,769,503Net Income 2023: -$1,173,5722023Revenue 2024: $4,389,902Expenses 2024: $5,199,426Net Income 2024: -$809,5242024

Highlighted filing

2022

Revenue$6,762,517
Expenses$23,188
Net Income$6,739,329
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 29, 2024
Return Version
2022v5.0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
PAUL GRAYTrustee-$0--
MARY GRAYTrustee-$0--
Filing and Contact Details

Filer

Filer Name
Gray Collection Trust
EIN
26-1596672
Phone
3126428877
Address
1130 N LAKE SHORE DR 5E, CHICAGO, IL 60611-1048

Signing Officer

Name
Paul Gray
Title
Trustee
Phone
3126428877
Signed
2024-05-29
Discuss with paid preparer
Yes

Preparer

Firm
Rsm US Llp
Address
1450 AMERICAN LANE SUITE 1400, SCHAUMBURG, IL 60173
Preparer
Stacey Conner
Phone
8475177070
Raw XML Appendix376 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
AccountingFeesSchedule/AccountingFeesDetail/AdjustedNetIncomeAmt00
AccountingFeesSchedule/AccountingFeesDetail/Amt013600
AccountingFeesSchedule/AccountingFeesDetail/CategoryTxt0ACCOUNTING FEES
AccountingFeesSchedule/AccountingFeesDetail/DisbursementsCharitablePrpsAmt013600
AccountingFeesSchedule/AccountingFeesDetail/NetInvestmentIncomeAmt00
GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc0990-PF PART II AND PART III
GeneralExplanationAttachment/GeneralExplanationGrp/IdentifierTxt0CHANGES TO 990-PF DUE TO CHANGE OF BASIS OF TWO PIECES OF DONATED ARTWORK
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt0990-PF PART II LINE 15: DUE TO THE CHANGE OF BASIS OF TWO PIECES OF ARTWORK, THE BOOK VALUE (COLUMN B) ON LINE 15 INCREASED FROM $1,648,994 TO $8,484,994.990-PF PART II LINE 26: DUE TO THE CHANGES ABOVE, THE TOTAL CAPITAL STOCK INCREASED FROM $1,741,914 TO $8,577,914990-PF PART III LINE 3: AS AMENDED, THERE IS A INCREASE OF $1,250,000 TO ACCOUNT FOR THE BUILT IN LOSS ON THE TWO PIECES OF DONATED ARTWORK IN 2022. THE BUILT IN LOSS IS THE DIFFERENCE OF THE FAIR MARKET VALUE ($6,750,000) AND BOOK VALUE ($8,000,000) OF THE TWO DONATED ARTWORKS.990-PF PART III LINE 6: DUE TO THE CHANGES ABOVE, THE TOTAL NET ASSETS INCREASED FROM $1,741,914 TO $8,577,914.
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IRS990PF/ChgInNetAssetsFundBalancesGrp/OtherDecreasesAmt00
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IRS990PF/ExciseTaxBasedOnInvstIncmGrp/OverpaymentAmt088
IRS990PF/ExciseTaxBasedOnInvstIncmGrp/RefundAmt00
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IRS990PF/OfficerDirTrstKeyEmplInfoGrp/CompOfHghstPdCntrctOrNONETxt0NONE
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IRS990PF/StatementsRegardingActyGrp/LegislativePoliticalActyInd00
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/AddressLine1Txt0875 N MICHIGAN AVENUE NO 3800
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/CityNm0CHICAGO
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/StateAbbreviationCd0IL
IRS990PF/StatementsRegardingActyGrp/LocationOfBooksUSAddress/ZIPCd0606111803
IRS990PF/StatementsRegardingActyGrp/MoreThan100SpentInd00
IRS990PF/StatementsRegardingActyGrp/NewSubstantialContributorsInd00
IRS990PF/StatementsRegardingActyGrp/OrganizationDissolvedEtcInd00
IRS990PF/StatementsRegardingActyGrp/OrgReportOrRegisterStateCd0IL
IRS990PF/StatementsRegardingActyGrp/OwnControlledEntityInd00
IRS990PF/StatementsRegardingActyGrp/PhoneNum03126428877
IRS990PF/StatementsRegardingActyGrp/PrivateOperatingFoundationInd01
IRS990PF/StatementsRegardingActyGrp/Section4955ManagersTaxAmt00
IRS990PF/StatementsRegardingActyGrp/Section4955OrganizationTaxAmt00
IRS990PF/StatementsRegardingActyGrp/Section508eRqrSatisfiedInd01
IRS990PF/StatementsRegardingActyGrp/TaxReimbursedAmt00
IRS990PF/StatementsRegardingActyGrp/UnrelatedBusIncmOverLimitInd00
IRS990PF/StatementsRegardingActyGrp/WebsiteAddressTxt0N/A
IRS990PF/SummaryOfDirectChrtblActyGrp/Description1Txt0THE PRIMARY PURPOSES OF THE TRUST ARE TO RECEIVE WORKS OF ART AND TO PERFORM CURATORIAL SERVICES WITH RESPECT TO THE ART DONATED TO THE TRUST, INCLUDING APPROPRIATE CATALOGING AND RESEARCH.
IRS990PF/SummaryOfDirectChrtblActyGrp/Description2Txt0TO LEND AND MAKE AVAILABLE SUCH WORKS OF ART FOR DISPLAY TO THE PUBLIC AND FOR SUITABLE SCHOLARLY STUDIES AND TO DISTRIBUTE SUCH WORKS OF ART TO APPROPRIATE CHARITABLE ORGANIZATIONS.
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses1Amt07648
IRS990PF/SummaryOfDirectChrtblActyGrp/Expenses2Amt00
IRS990PF/SumOfProgramRelatedInvstGrp/TotalAmt00
IRS990PF/SupplementaryInformationGrp/ContributingManagerNm0PAUL GRAY
IRS990PF/SupplementaryInformationGrp/ContributingManagerNm1MARY GRAY
IRS990PF/SupplementaryInformationGrp/OnlyContriToPreselectedInd0X
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriApprvFutAmt00
IRS990PF/SupplementaryInformationGrp/TotalGrantOrContriPdDurYrAmt00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/LoansOrLoanGuaranteesInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PerformanceOfServicesEtcInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/PurchaseOfAssetsNonchrtblEOInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/ReimbursementArrangementsInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RelationshipsNonchrtblEOInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/RentalOfFacilitiesOthAssetsInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SalesOrExchangesOfAssetsInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/SharingOfFacilitiesEtcInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOfCashToNonchrtblEOInd00
IRS990PF/TrnsfrTransRlnNonchrtblEOGrp/TrnsfrOtherAssetNonchrtblEOInd00
IRS990ScheduleB/ContributorInformationGrp/ContributorNum01
IRS990ScheduleB/ContributorInformationGrp/ContributorNum12
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm0MARY L GRAY
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm1MARY L GRAY
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt01130 N LAKE SHORE DR APT 5E
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt11130 N LAKE SHORE DR APT 5E
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm0CHICAGO
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm1CHICAGO
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd0IL
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd1IL
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd060611
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd160611
IRS990ScheduleB/ContributorInformationGrp/NoncashContributionInd0X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd0X
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt011638
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt16750000
IRS990ScheduleB/GeneralRuleInd0X
IRS990ScheduleB/NonCashPropertyContributionGrp/ContributorNum02
IRS990ScheduleB/NonCashPropertyContributionGrp/ContributorNum12
IRS990ScheduleB/NonCashPropertyContributionGrp/FairMarketValueAmt02750000
IRS990ScheduleB/NonCashPropertyContributionGrp/FairMarketValueAmt14000000
IRS990ScheduleB/NonCashPropertyContributionGrp/NoncashPropertyDesc0ARTWORK - WILLEM DE KOONING, "TWO WOMEN I"
IRS990ScheduleB/NonCashPropertyContributionGrp/NoncashPropertyDesc1ARTWORK - PABLO PICASSO, "THE ARTIST AND MODEL"
IRS990ScheduleB/NonCashPropertyContributionGrp/ReceivedDt02022-02-14
IRS990ScheduleB/NonCashPropertyContributionGrp/ReceivedDt12022-02-14
IRS990ScheduleB/Organization501c3ExemptPFInd0X
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt035000
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt115000
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt22750
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt3425000
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt44000
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt53244
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt60
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt70
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt80
OtherAssetsSchedule/OtherAssetsScheduleGrp/BOYBookValueAmt90
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc0DUBUFFET, "QUATRE PERSONNAGES"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc1GREEK, "ATTIC BLACK FIGURE AMPHORA/ATHENA & HERMES RECEIVING HERAKLES"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc2HELLENISTIC, "STATUETTE OF A YOUNG BOY"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc3LE SALON LEROLLE, OIL ON CANVAS BY EDOUARD VUILLARD
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc4PLENSA, "VEILED SHADOW XIX"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc5ROMAN/ETRUSCAN, "ETRUSCAN OINOCHOE"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc6GREEK, "OPLE VASE"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc7ROMAN/ETRSCAN, "ROMAN HERCULES"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc8WILLEM DE KOONING, "TWO WOMEN I"
OtherAssetsSchedule/OtherAssetsScheduleGrp/Desc9PABLO PICASSO, "THE ARTIST AND MODEL"
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt035000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt115000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt22750
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt3425000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt44000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt53244
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt60
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt70
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt84000000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYBookValueAmt94000000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt0950000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt150000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt24000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt31800000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt416000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt515000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt612000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt720000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt82750000
OtherAssetsSchedule/OtherAssetsScheduleGrp/EOYFMVAmt94000000
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt00
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc0OFFICE
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt01925
OtherExpensesSchedule/OtherExpensesScheduleGrp/NetInvestmentIncomeAmt00
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt01925
OtherIncreasesSchedule/OtherIncreasesDetail/Amt01250000
OtherIncreasesSchedule/OtherIncreasesDetail/Desc0BUILT IN LOSS FROM CONTRIBUTED ARTWORK
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/AdjustedNetIncomeAmt00
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/Amt07648
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/CategoryTxt0INDEPENDENT CONTRACTOR
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/DisbursementsCharitablePrpsAmt07648
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/NetInvestmentIncomeAmt00
TaxesSchedule/TaxesDetail/AdjustedNetIncomeAmt00
TaxesSchedule/TaxesDetail/Amt015
TaxesSchedule/TaxesDetail/CategoryTxt0IL TAXES
TaxesSchedule/TaxesDetail/DisbursementsCharitablePrpsAmt00
TaxesSchedule/TaxesDetail/NetInvestmentIncomeAmt00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL GRAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum03126428877
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRAY COLLECTION TRUST
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O MARY GRAY
ReturnHeader/Filer/BusinessNameControlTxt0GRAY
ReturnHeader/Filer/EIN0261596672
ReturnHeader/Filer/PhoneNum03126428877
ReturnHeader/Filer/USAddress/AddressLine1Txt01130 N LAKE SHORE DR 5E
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd0606111048
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0420714325
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RSM US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01450 AMERICAN LANE SUITE 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SCHAUMBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060173
ReturnHeader/PreparerPersonGrp/PhoneNum08475177070
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STACEY CONNER
ReturnHeader/ReturnTs02024-06-06T09:31:36-05:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PAUL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GRAY
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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