Civic Intelligence

Gift Clearing Trust

990 • Fiscal year 2021 • EIN 37-6639232

Oct 01, 2020 to Sep 30, 2021 • Filed on Aug 15, 2022

Organization ProfileN/A
CO 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.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Liabilities / Revenue

2nd percentile

0.00x

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

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Net Margin

82nd percentile

40%

Higher net margin than 82% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2021 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2021

Asset Growth

99th percentile

347%

Faster asset growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

289%

Faster revenue growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$47,036,280

Up $36,511,897 (+347%) from 2020

Net Assets

Up

$47,036,280

Up $36,511,897 (+347%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue2nd percentileNet Margin82nd percentile

Revenue

Up

$91,256,862

Up $67,768,936 (+289%) from 2020

Expenses

Up

$54,744,965

Up $40,876,695 (+295%) from 2020

Net Income

Up

$36,511,897

Up $26,892,241 (+280%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth99th 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

2021

Assets$47,036,280
Liabilities$0
Net Assets$47,036,280
Open 2021 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

2021

Revenue$91,256,862
Expenses$54,744,965
Net Income$36,511,897
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Aug 15, 2022
Return Version
2020v4.2
Gross Receipts
$151,352,365
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.

To support ms gift in fostering and promoting philanthropy across the globe.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$8,871,953$42,382,236▲ $33,510,283
Savings and Temporary Cash Investments$457,430$4,654,044▲ $4,196,614
Land, Buildings, and Equipment, Net$1,195,000--
Total Assets$10,524,383$47,036,280▲ $36,511,897
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,524,383$47,036,280▲ $36,511,897
Total Net Assets Fund Balance$10,524,383$47,036,280▲ $36,511,897
Total Liabilities and Net Assets / Fund Balance$10,524,383$47,036,280▲ $36,511,897

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$719,679--
Compensation and Service Providers
Top Officer Pay4th percentile

Board Members and Trustees

NameTitle
-Trustee
Revenue and Support

Revenue Composition

Contributions and Grants
$92,410,786
Program Service Revenue
$0
Investment Income
$-1,153,924
Other Revenue
$0
All Other Contributions
$92,410,786
Change in Net Assets
$36,511,897

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Secur Prtnrshp Trust Intrsts27$70,942,584Fair Market Value
Securities Publicly Traded1$8,500,000Fair Market Value
Securities Miscellaneous1$6,701,902Fair Market Value
Securities Closely Held Stock4$6,266,300Fair Market Value
Total Noncash Contributions33$92,410,786-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$54,744,965
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$54,744,965--$54,744,965
Total Functional Expenses$54,744,965$0$0$54,744,965
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Morgan Stanley Global Impact Funding Trust IncIndianapolis, IN501(c)(3)General Support$54,744,965
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

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

“The form 990 is prepared by the organization's independent tax accountant, ernst & young llp. A copy of the form 990 is then reviewed by a group of persons authorized to review financial matters, prior to the filing of the form 990 with the irs.”

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

“The organization enforces its conflict of interest policy by monitoring known relationships, reviewing questionnaires, and noting any changes to information disclosed. Any conflict is reviewed by the board of ms gift, a related entity, 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, financial information, and conflict of interest policy are made available upon request.”

Filing and Contact Details

Filer

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

Signing Officer

Name
Melanie Schnoll-begun
Title
Institutional Trustee
Phone
2122483260
Signed
2022-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melanie Schnoll-begun
Formed
2016
Legal Domicile
De
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
1

Preparer

Firm
Ernst & Young US Llp
Address
99 WOOD AVENUE SOUTH, ISELIN, NJ 08830
Preparer
Michael R Sales
Phone
7325164200
Raw XML Appendix388 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/ActivitiesConductedPrtshpInd00
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IRS990/BooksInCareOfDetail/PhoneNum02122483260
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt08910 PURDUE RD 500
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IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IN
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IRS990/GoverningBodyVotingMembersCnt01
IRS990/GrantAmt054744965
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IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt01195000
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt057063762
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IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
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IRS990/IndependentVotingMemberCnt01
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt08871953
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt042382236
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01195000
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0DE
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IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt058900503
IRS990/LoanOutstandingInd00
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IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt047036280
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-1836741
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt0998
IRS990/NetUnrelatedBusTxblIncmAmt0171
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt010524383
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt047036280
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt092410786
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MELANIE SCHNOLL-BEGUN
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
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IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt09619656
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IRS990/PYTotalRevenueAmt023487926
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
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IRS990/RevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0457430
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IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleD/OtherSecuritiesGrp/Desc3CLOSELY HELD STOCK
IRS990ScheduleD/OtherSecuritiesGrp/Desc4LAND TRUST - BENEFICIAL INTEREST
IRS990ScheduleD/OtherSecuritiesGrp/Desc5C CORP INTEREST
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
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IRS990ScheduleI/RecipientTable/RecipientEIN0527082731
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IRS990ScheduleI/RecipientTable/USAddress/CityNm0INDIANAPOLIS
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GIFT CLEARING TRUST ONLY GRANTS TO ITS SUPPORTED ORGANIZATION, MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST, INC. ("MS GIFT"). IT DOES NOT MONITOR GRANTS TO MS GIFT SINCE IT OPERATES FOR THE EXCLUSIVE BENEFIT OF MS GIFT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
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IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt08500000
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/ContributionCnt027
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/NoncashContributionsRptF990Amt070942584
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HIRES RENPSG, AN UNRELATED THIRD PARTY ORGANIZATION, TO PROCESS AND LIQUIDATE ALL NONCASH CONTRIBUTIONS. RENPSG ENGAGES WITH REAL ESTATE AGENTS TO PERFORM THE SALE OF CERTAIN PROPERTY ASSETS, WHEN NECESSARY.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 32B:
IRS990ScheduleM/ThirdPartiesUsedInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PREPARED BY THE ORGANIZATION'S INDEPENDENT TAX ACCOUNTANT, ERNST & YOUNG LLP. A COPY OF THE FORM 990 IS THEN REVIEWED BY A GROUP OF PERSONS AUTHORIZED TO REVIEW FINANCIAL MATTERS, PRIOR TO THE FILING OF THE FORM 990 WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ENFORCES ITS CONFLICT OF INTEREST POLICY BY MONITORING KNOWN RELATIONSHIPS, REVIEWING QUESTIONNAIRES, AND NOTING ANY CHANGES TO INFORMATION DISCLOSED. ANY CONFLICT IS REVIEWED BY THE BOARD OF MS GIFT, A RELATED ENTITY, BEFORE A DECISION IS MADE AS TO WHETHER TO APPROVE THE TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL INFORMATION, AND CONFLICT OF INTEREST POLICY ARE MADE 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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
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IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0RECEIVE COMPLEX ASSETS
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt047036280
IRS990/TotalAssetsGrp/BOYAmt010524383
IRS990/TotalAssetsGrp/EOYAmt047036280
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/USAddress/ZIPCd046268
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL R SALES
ReturnHeader/ReturnTs02022-08-15T21:22:20-05:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02020-10-01
ReturnHeader/TaxPeriodEndDt02021-09-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$47,036,280
Liabilities
$0
Net assets
$47,036,280
Revenue
$91,256,862
Expenses
$54,744,965
Net income
$36,511,897
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
2021Detailed filing. Detailed filing data is available for this year.$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
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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