Civic Intelligence

The Gates Cambridge Trust

990 • Fiscal year 2021 • EIN 98-0335263

Aug 01, 2020 to Jul 31, 2021 • Filed on Jun 14, 2022

Grd Flthe Warehouse33 Bridge StCambridge CB2 1UWUk

(122) 376-0623

Siviq Scores

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

Liabilities / Assets

14th percentile

0.03x

Higher debt load relative to assets than 14% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Liabilities / Revenue

76th percentile

1.05x

Higher debt load relative to revenue than 76% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Net Margin

60th percentile

13%

Higher net margin than 60% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Top Officer Pay

4th percentile

$126,233

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Asset Growth

83rd percentile

27%

Faster asset growth than 83% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Revenue Growth

45th percentile

9.0%

Faster revenue growth than 45% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Assets

Up

$479,481,000

Up $102,690,000 (+27%) from 2020

Net Assets

Up

$463,722,000

Up $101,449,000 (+28%) from 2020

Liabilities

Up

$15,759,000

Up $1,241,000 (+8.5%) from 2020

Revenue

Up

$14,949,000

Up $1,233,000 (+9.0%) from 2020

Expenses

Up

$12,996,000

Up $523,000 (+4.2%) from 2020

Net Income

Up

$1,953,000

Up $710,000 (+57%) from 2020

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2011: $282,952Liabilities 2011: $62Net Assets 2011: $282,8902011Assets 2012: $272,271Liabilities 2012: $70Net Assets 2012: $272,2012012Assets 2013: $308,558Liabilities 2013: $63Net Assets 2013: $308,4952013Assets 2014: $352,649Liabilities 2014: $76Net Assets 2014: $352,5732014Assets 2015: $360,176Liabilities 2015: $22Net Assets 2015: $360,1542015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016Assets 2017: $360,536Liabilities 2017: $7,580Net Assets 2017: $352,9572017Assets 2018: $382,468Liabilities 2018: $7,838Net Assets 2018: $374,6302018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $376,791,000Liabilities 2020: $14,518,000Net Assets 2020: $362,273,0002020Assets 2021: $479,481,000Liabilities 2021: $15,759,000Net Assets 2021: $463,722,0002021Assets 2022: $427,847,000Liabilities 2022: $15,017,000Net Assets 2022: $412,830,0002022Assets 2023: $445,339,000Liabilities 2023: $16,390,000Net Assets 2023: $428,949,0002023Assets 2024: $466,654,000Liabilities 2024: $19,483,000Net Assets 2024: $447,171,0002024

Highlighted filing

2021

Assets$479,481,000
Liabilities$15,759,000
Net Assets$463,722,000

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $8,945Expenses 2011: $9,992Net Income 2011: -$1,0472011Revenue 2012: $10,481Expenses 2012: $9,677Net Income 2012: $8042012Revenue 2013: $10,358Expenses 2013: $9,561Net Income 2013: $7972013Revenue 2014: $11,989Expenses 2014: $10,552Net Income 2014: $1,4372014Revenue 2015: $11,560Expenses 2015: $10,320Net Income 2015: $1,2402015Revenue 2016: $0Expenses 2016: $0Net Income 2016: $02016Revenue 2017: $11,067Expenses 2017: $10,557Net Income 2017: $5102017Revenue 2018: $12,053Expenses 2018: $11,128Net Income 2018: $9252018Revenue 2019: $12,211Expenses 2019: $0Net Income 2019: $12,2112019Revenue 2020: $13,716,000Expenses 2020: $12,473,000Net Income 2020: $1,243,0002020Revenue 2021: $14,949,000Expenses 2021: $12,996,000Net Income 2021: $1,953,0002021Revenue 2022: $13,824,000Expenses 2022: $12,998,000Net Income 2022: $826,0002022Revenue 2023: $16,528,000Expenses 2023: $14,728,000Net Income 2023: $1,800,0002023Revenue 2024: $17,949,000Expenses 2024: $16,179,000Net Income 2024: $1,770,0002024

Highlighted filing

2021

Revenue$14,949,000
Expenses$12,996,000
Net Income$1,953,000
Jump To
Filing Snapshot
Filing Period
Aug 1, 2020 to Jul 31, 2021
Signed
Jun 14, 2022
Return Version
2020v4.1
Gross Receipts
$14,949,000
Mission and Program Overview

Mission

The bill and melinda gates foundation donated $210 million to create in perpetuity an international scholarship programme to enable outstanding students (with leadership qualities and a desire to contribute to society) from outside the uk to study at the university of cambridge.

International scholarship programme to enable outstanding students from outside the uk to study at the university of cambridge funded by the bill and melinda gates fdn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$362,273,000$463,722,000▲ $101,449,000
Investments in Publicly Traded Securities$361,441,000$461,375,000▲ $99,934,000
Savings and Temporary Cash Investments$8,267,000$13,290,000▲ $5,023,000
Investments Other Securities$2,871,000$2,593,000▼ $278,000
Accounts Receivable$1,298,000$1,472,000▲ $174,000
Cash and Non-Interest-Bearing Accounts$2,914,000$751,000▼ $2,163,000
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$376,791,000$479,481,000▲ $102,690,000
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$14,518,000$15,759,000▲ $1,241,000
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$14,518,000$15,759,000▲ $1,241,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$362,273,000$463,722,000▲ $101,449,000
Total Liabilities and Net Assets / Fund Balance$376,791,000$479,481,000▲ $102,690,000

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$299,000$299,000
Equipment$0$157,000$157,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$362,274,000-▲ $114,432,000$19,000$463,713,000
2019$351,820,000-▲ $22,927,000$276,000$362,274,000
2018$374,630,000-▼ $11,793,000$299,000$351,820,000
2017$352,957,000-▲ $32,799,000$316,000$374,630,000
2016$316,776,000-▲ $46,347,000$344,000$352,957,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Jade TranDirector of FinanceFT$126,233$126,233
Mr Jim SmithEmployeeFT$118,906$118,906
Professor Barry EverittProvostPT$96,770$96,770

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$14,949,000
Other Revenue
$0
Change in Net Assets
$1,953,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,949,000
Revenue Not Reported on Form 990
$77,354,000
Total Revenue per Audited Statements
$92,303,000
Total Revenue per Form 990
$14,949,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,296,000
Salaries, Compensation, and Employee Benefits$562,000
Other Expenses$138,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$12,296,000--$12,296,000
Other Salaries and Wages-$336,000-$336,000
Current Officers, Directors, Trustees, and Key Employees-$223,000-$223,000
Occupancy-$80,000-$80,000
Advertising-$28,000-$28,000
Information Technology-$23,000-$23,000
Other Expenses$19,000$0$0$19,000
Fees for Services Accounting-$10,000-$10,000
Other Employee Benefits-$3,000-$3,000
Fees for Services Management-$2,000-$2,000
Office Expenses-$-24,000-$-24,000
Total Functional Expenses$12,315,000$681,000$0$12,996,000

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,996,000
Total Expenses per Audited Statements$12,996,000
Total Expenses per Form 990$12,996,000
International Activity

International Summary

Offices
1
Employees
7
Spending
$12,296,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)GrantmakingNone17$12,296,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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, LINE 7A:

The university of cambridge appoints all trustees apart from two nominated by the bill and melinda gates foundation.

FORM 990, PART VI, LINE 11A:

The form 990 is approved by the trustees by circulation prior to filing with the irs. Moreover, the form 990 was independently reviewed by qualified advisors prior to consideration by trustees.

FORM 990, PART VI, LINE 12C:

Trustees, officers and executive employees receive a copy of the trust's conflict of interest policy on an annual basis. Such individuals are required to certify each year that they have read and understood the trust's conflict of interest policy as well as to make certain disclosures on the annual conflict questionnaire. The completed questionnaires are maintained by the trust for reference throughout the year at trustee/committee meetings and otherwise as needed. Trustees, officers and executive employees are also required to promptly disclose all material facts of any actual or potential conflicts of interest that arises during their tenure. In addition, trustees and officers are asked to disclose actual or potential conflicts of interest prior to all meetings of the board of trustees or committees.

FORM 990, PART VI, LINE 15 A & B:

Compensation arrangements for the provost and the director of finance are approved in advance by the board of trustees based up compensation recommendations made by the trust's remuneration committee. In making initial compensation determinations, the remuneration committee obtains appropriate and reliable comparability data regarding remuneration paid by the university of cambridge for senior academic appointments and information concerning compensation levels paid by similar organizations for comparable positions. Final compensation determinations are made by the board of trustees. In making final compensation determinations, the board of trustees contemporaneously documents the basis for the compensation determinations in its meeting minutes, including the comparability data relied upon. No member of the board of trustees or the remuneration committee who has an actual or potential conflict of interest with respect to any compensation determination is permitted to participate in and/or to be present for any vote regarding the compensation determination.

FORM 990, PART VI, LINE 19:

Documents, including the trust deed, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Gates Cambridge Trust
EIN
98-0335263
In Care Of
% DR JADE TRAN
Phone
1223760623
Address
UK
Doing Business As
Gates Cambridge Scholarships

Signing Officer

Name
Dr Jade Tran
Title
Director of Finance
Phone
1223760623
Signed
2022-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Professor Barry Everitt
Formed
2000
Voting Board Members
10
Independent Board Members
10
Employees
7
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
8401 GREENSBORO DRIVE 800, MCLEAN, VA 22102
Preparer
Marc Berger
Phone
7038930600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Other changes in the net assets relates to a shift in the exchange rate between gbp (in which the trust's assets are denominated) and the us dollar.

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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/Form990PartVIISectionAGrp/TitleTxt0Director of Finance
IRS990/Form990PartVIISectionAGrp/TitleTxt1Employee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Provost
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee (From 10/20)
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee (FROM 10/20)
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0THE BILL AND MELINDA GATES FOUNDATION DONATED $210 MILLION TO CREATE IN PERPETUITY AN INTERNATIONAL SCHOLARSHIP PROGRAMME TO ENABLE OUTSTANDING STUDENTS (WITH LEADERSHIP QUALITIES AND A DESIRE TO CONTRIBUTE TO SOCIETY) FROM OUTSIDE THE UK TO STUDY AT THE UNIVERSITY OF CAMBRIDGE.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
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IRS990/NetAssetsOrFundBalancesEOYAmt0463722000
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OperateHospitalInd0false
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt03000
IRS990/OtherExpensesGrp/Desc0SCHOLARS ACTIVITIES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
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IRS990/OtherExpensesGrp/TotalAmt019000
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IRS990/PrincipalOfficerNm0Professor Barry Everitt
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IRS990/ProgSrvcAccomActy2Grp/Desc0EXPENSES ASSOCIATED WITH EVENTS PUT ON BY THE TRUST FOR SCHOLARS AND FOR EVENTS RUN BY THE GATES CAMBRIDGE SCHOLAR'S SOCIETY.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt0530000
IRS990/PYTotalExpensesAmt012473000
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt013716000
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0362273000
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0463722000
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08267000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt013290000
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$467$19.5$447$17.9$16.2$1.77
2023Detailed filing. Detailed filing data is available for this year.$445$16.4$429$16.5$14.7$1.80
2022Detailed filing. Detailed filing data is available for this year.$428$15.0$413$13.8$13.0$0.83
2021Detailed filing. Detailed filing data is available for this year.$479$15.8$464$14.9$13.0$1.95
2020Detailed filing. Detailed filing data is available for this year.$377$14.5$362$13.7$12.5$1.24
2019Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.01$0.00$0.01
2018Summary only. Only limited summary data is available for this year.$0.38$0.01$0.37$0.01$0.01$0.00
2017Summary only. Only limited summary data is available for this year.$0.36$0.01$0.35$0.01$0.01$0.00
2016Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2015Summary only. Only limited summary data is available for this year.$0.36$0.00$0.36$0.01$0.01$0.00
2014Summary only. Only limited summary data is available for this year.$0.35$0.00$0.35$0.01$0.01$0.00
2013Summary only. Only limited summary data is available for this year.$0.31$0.00$0.31$0.01$0.01$0.00
2012Summary only. Only limited summary data is available for this year.$0.27$0.00$0.27$0.01$0.01$0.00
2011Summary only. Only limited summary data is available for this year.$0.28$0.00$0.28$0.01$0.01$0.00