Civic Intelligence

Gift Clearing Trust

990 • Fiscal year 2018 • EIN 37-6639232

Oct 01, 2017 to Sep 30, 2018 • Filed on Aug 15, 2019

Organization ProfileN/A
Renpsg 8910 Purdue Rd No 500Indianapolis, IN 46268

(212) 248-3260

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.00x

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

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

2nd percentile

0.00x

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

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

9th percentile

-15%

Higher net margin than 9% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

3rd percentile

$0

Higher top officer pay than 3% of similar nonprofits.

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

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

1st percentile

-97%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

97th percentile

160%

Faster revenue growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Down

$337,944

Down $9,614,219 (-97%) from 2017

Net Assets

Down

$337,944

Down $9,614,219 (-97%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue2nd percentileNet Margin9th percentile

Revenue

Up

$63,615,998

Up $39,131,486 (+160%) from 2017

Expenses

Up

$73,230,217

Up $58,697,868 (+404%) from 2017

Net Income

Down

-$9,614,219

Down $19,566,382 (-197%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$300M$200M$100M$0Assets 2017: $9,952,163Liabilities 2017: $0Net Assets 2017: $9,952,1632017Assets 2018: $337,944Liabilities 2018: $0Net Assets 2018: $337,9442018Assets 2019: $904,727Liabilities 2019: $0Net Assets 2019: $904,7272019Assets 2020: $10,524,383Liabilities 2020: $0Net Assets 2020: $10,524,3832020Assets 2021: $47,036,280Liabilities 2021: $0Net Assets 2021: $47,036,2802021Assets 2022: $210,994,704Liabilities 2022: $0Net Assets 2022: $210,994,7042022Assets 2023: $138,504,712Liabilities 2023: $0Net Assets 2023: $138,504,7122023Assets 2024: $145,831,757Liabilities 2024: $0Net Assets 2024: $145,831,7572024

Highlighted filing

2018

Assets$337,944
Liabilities$0
Net Assets$337,944
Open 2018 Filing

Operations Trend

Revenue Growth97th percentile

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

$300M$200M$100M$0-$100MRevenue 2017: $24,484,512Expenses 2017: $14,532,349Net Income 2017: $9,952,1632017Revenue 2018: $63,615,998Expenses 2018: $73,230,217Net Income 2018: -$9,614,2192018Revenue 2019: $14,534,102Expenses 2019: $14,030,242Net Income 2019: $503,8602019Revenue 2020: $23,487,926Expenses 2020: $13,868,270Net Income 2020: $9,619,6562020Revenue 2021: $91,256,862Expenses 2021: $54,744,965Net Income 2021: $36,511,8972021Revenue 2022: $255,749,182Expenses 2022: $86,045,976Net Income 2022: $169,703,2062022Revenue 2023: -$14,719,854Expenses 2023: $49,915,138Net Income 2023: -$64,634,9922023Revenue 2024: $145,586,442Expenses 2024: $111,212,270Net Income 2024: $34,374,1722024

Highlighted filing

2018

Revenue$63,615,998
Expenses$73,230,217
Net Income-$9,614,219
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Aug 15, 2019
Return Version
2017v2.3
Gross Receipts
$136,899,665
Mission and Program Overview

Mission

The trust accepts and liquidates contributions of complex assets on behalf of morgan stanley global impact funding trust inc. To support the fostering and promotion of philantrophy across the globe.

The trust's purposes include conducting or supporting activities for the benefit of or to carry out the purposes of ms gift.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$9,952,163$281,384▼ $9,670,779
Cash and Non-Interest-Bearing Accounts-$56,560-
Total Assets$9,952,163$337,944▼ $9,614,219
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$9,952,163$337,944▼ $9,614,219
Total Net Assets Fund Balance$9,952,163$337,944▼ $9,614,219
Total Liabilities and Net Assets / Fund Balance$9,952,163$337,944▼ $9,614,219

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$281,384--
Compensation and Service Providers
Top Officer Pay3rd percentile

Board Members and Trustees

NameTitle
-Trustee
Andrew GrumetTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$63,612,888
Program Service Revenue
$0
Investment Income
$3,110
Other Revenue
$0
All Other Contributions
$63,612,888
Change in Net Assets
$-9,614,219

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Secur Prtnrshp Trust Intrsts13$61,682,603Liquidation Proceeds
Securities Closely Held Stock3$1,930,285Liquidation Proceeds
Total Noncash Contributions16$63,612,888-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$73,230,217
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$73,230,217--$73,230,217
Total Functional Expenses$73,230,217$0$0$73,230,217
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Morgan Stanley Global Impact Funding Trust IncNew York, NY501(c)(3)General Support$73,230,217
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 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

Form 990, Part VI, Section B, Line 11B

“The form 990 has been reviewed by a group of persons authorized to review financial and audit matters prior to filing. The final form 990 (filed with the irs) will be available at the next meeting of the board for inspection. In addition, upon request of any boardmember, a copy will be provided. If there are any material changes, an amended form 990 will be filed.”

Form 990, Part VI, Section B, Line 12C

“The organization enforces the conflict of interest policy by monitoring known relationships, questionnaires, and noting any changes in disclosed information. Any conflict is reviewed by the board before a decision is made as to whether to approve the transaction.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Gift Clearing Trust
EIN
37-6639232
Phone
2122483260
Address
RENPSG 8910 PURDUE RD NO 500, INDIANAPOLIS, IN 46268

Signing Officer

Name
Andrew Grumet
Title
Inst Trustee-pres
Phone
2122483260
Signed
2019-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melanie C Schnoll-begun
Formed
2016
Legal Domicile
De
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Skody Scot & Co Cpas Pc
Address
520 EIGHTH AVE SUITE 2200, NEW YORK, NY 10018
Preparer
William Skody
Phone
2129671100
Raw XML Appendix342 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 HAS BEEN REVIEWED BY A GROUP OF PERSONS AUTHORIZED TO REVIEW FINANCIAL AND AUDIT MATTERS PRIOR TO FILING. THE FINAL FORM 990 (FILED WITH THE IRS) WILL BE AVAILABLE AT THE NEXT MEETING OF THE BOARD FOR INSPECTION. IN ADDITION, UPON REQUEST OF ANY BOARDMEMBER, A COPY WILL BE PROVIDED. IF THERE ARE ANY MATERIAL CHANGES, AN AMENDED FORM 990 WILL BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ENFORCES THE CONFLICT OF INTEREST POLICY BY MONITORING KNOWN RELATIONSHIPS, QUESTIONNAIRES, AND NOTING ANY CHANGES IN DISCLOSED INFORMATION. ANY CONFLICT IS REVIEWED BY THE BOARD BEFORE A DECISION IS MADE AS TO WHETHER TO APPROVE THE TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt073230217
IRS990/TotalFunctionalExpensesGrp/TotalAmt073230217
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09952163
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0337944
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IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt03110
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0337944
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IRS990/UnrelatedBusIncmOverLimitInd01
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREW GRUMET
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INST TRUSTEE-PRES
ReturnHeader/BusinessOfficerGrp/PhoneNum02122483260
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-15
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ReturnHeader/FilingSecurityInformation/IPTm016:24:09
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133597814
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SKODY SCOT & CO CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0520 EIGHTH AVE SUITE 2200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010018
ReturnHeader/PreparerPersonGrp/PhoneNum02129671100
ReturnHeader/PreparerPersonGrp/PreparationDt02019-08-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM SKODY
ReturnHeader/ReturnTs02019-08-15T15:24:19-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$337,944
Liabilities
$0
Net assets
$337,944
Revenue
$63,615,998
Expenses
$73,230,217
Net income
-$9,614,219
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$146$0.00$146$146$111$34.4
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$139$0.00$139$14.7$49.9$64.6
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$211$0.00$211$256$86.0$170
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$47.0$0.00$47.0$91.3$54.7$36.5
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.5$0.00$10.5$23.5$13.9$9.62
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.00$0.90$14.5$14.0$0.50
2018Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$63.6$73.2$9.61
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.95$0.00$9.95$24.5$14.5$9.95