Gift Clearing Trust
TO SUPPORT MS GIFT IN FOSTERING AND PROMOTING PHILANTHROPY ACROSS THE GLOBE.
IRS Tax Year 2023
Period ending September 30, 2024
Total Revenue
$145.6M
Total Expenses
$111.2M
Net Assets
$145.8M
Employees
0
Volunteers
1
Grants Paid
$111.2M
Program Expense Ratio
100.0%
This nonprofit profile presents IRS Form 990 tax filing data for Gift Clearing Trust (EIN: 37-6639232), based on the 2023 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Gift Clearing Trust is a 501(c)(3) nonprofit headquartered in INDIANAPOLIS, IN, founded in 2016. It is classified under NTEE code T11 (Single Organization Support), within the Philanthropy, Voluntarism & Grantmaking category. The organization has held tax-exempt status since 2018. In its 2023 filing, the organization reported $145.6M in total revenue, a 1089.0% increase from the prior year, and $111.2M in total expenses. The organization engaged 1 volunteers. The organization runs 1 program, totaling $111.2M in program expenses. 3 of 6 recommended governance policies are in place.
Gift Clearing Trust is classified under NTEE code T11 (Single Organization Support), which falls within the Philanthropy, Voluntarism & Grantmaking category. Its foundation type is 21.
Programs(Tax Year 2023)
1 record
Gift Clearing Trust operates 1 program, with total program expenses of $111.2M. Gift Clearing Trust's largest program accounts for 100% of total program spending.
GIFT CLEARING TRUST ACCEPTED AND LIQUIDATED CONTRIBUTIONS OF COMPLEX ASSETS ON BEHALF OF MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC. TO SUPPORT THE FOSTERING AND PROMOTION OF PHILANTHROPY ACROSS THE GLOBE. GIFT CLEARING TRUST OPERATES FOR THE SOLE AND EXCLUSIVE BENEFIT OF AND TO PERFORM THE FUNCTION OF MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC., AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
Financial Overview(Tax Years 2019–2023)
5 records
Over the past 5 years, Gift Clearing Trust's revenue has grown from $23.5M to $145.6M, a 519.8% increase. Program expenses represent 100% of total spending.
Revenue increased 1089.0% year-over-year, while expenses grew 122.8%. net assets rose to $145.8M, up 5.3% from the prior year.
Gift Clearing Trust derives 140% from contributions and grants.
Gift Clearing Trust allocates 100% to programs, 0% to management and general.
Revenue grew by 1089.0% while expenses grew by only 122.8%, suggesting improving operational efficiency.
Gift Clearing Trust distributed $111.2M in grants to other organizations and individuals, representing 100% of total expenses.
Over 5 filings from 2019–2023, Gift Clearing Trust grew revenue from $23.5M to $145.6M (+519.8%) while maintaining a program expense ratio of 100%.
Gift Clearing Trust holds $145.8M in total assets against $0 in liabilities (debt-to-asset ratio of 0%). The organization has 15.7 months of operating reserves. Cash and equivalents of $0 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2023 | $145.6M | $204.0M | $0 | $0 | $-58.4M |
| 2022 | $-14.7M | $30.3M | $0 | $0 | $-45.0M |
| 2021 | $255.7M | $256.6M | $0 | $0 | $-814K |
| 2020 | $91.3M | $92.4M | $0 | $0 | $-1.2M |
| 2019 | $23.5M | $23.1M | $0 | $0 | $371K |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2023 | $111.2M | $111.2M | $11K | $0 | $111.2M |
| 2022 | $49.9M | $49.9M | $0 | $0 | $49.9M |
| 2021 | $86.0M | $86.0M | $0 | $0 | $86.0M |
| 2020 | $54.7M | $54.7M | $0 | $0 | $54.7M |
| 2019 | $13.9M | $13.9M | $0 | $0 | $13.9M |
Program Expense Ratio
100.0%
Admin Expense Ratio
0.0%
Fundraising Efficiency
—
Operating Reserve
15.7 mo
People & Compensation(Tax Year 2023)
1 record
Gift Clearing Trust reported compensation for 1 officers and key employees.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| MS GLOBAL IMPACT FUND | TRUSTEE | Trustee | 2.00 | $0 | $0 | $0 |
Governance & Compliance(Tax Year 2023)
Gift Clearing Trust has 3 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 1 members, 1 of whom are independent.
Gift Clearing Trust does not have audited financial statements.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2023)
1 record
Gift Clearing Trust awarded $57.0M across 1 grant to organizations. Top recipients include MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC (INDIANAPOLIS, IN) — $57.0M for general support.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC527082731 | INDIANAPOLIS, IN | $57.0M | GENERAL SUPPORT |
Filing History(Tax Years 2018–2023)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2023 | 990 | 2023-10-01 – 2024-09-30 | $145.6M | $111.2M | $145.8M |
| 2022 | 990 | 2022-10-01 – 2023-09-30 | $-14.7M | $49.9M | $138.5M |
| 2021 | 990 | 2021-10-01 – 2022-09-30 | $255.7M | $86.0M | $211.0M |
| 2020 | 990 | 2020-10-01 – 2021-09-30 | $91.3M | $54.7M | $47.0M |
| 2019 | 990 | 2019-10-01 – 2020-09-30 | $23.5M | $13.9M | $10.5M |
| 2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Gift Clearing Trust do?
TO SUPPORT MS GIFT IN FOSTERING AND PROMOTING PHILANTHROPY ACROSS THE GLOBE.
How much revenue does Gift Clearing Trust have?
Gift Clearing Trust reported $145,586,442 in total revenue for tax year 2023, up 1089.0% from the prior year.
Who is the highest-paid executive at Gift Clearing Trust?
MS GLOBAL IMPACT FUND, TRUSTEE, received $0 in total compensation as of tax year 2023.
Is Gift Clearing Trust a 501(c)(3)?
Yes, Gift Clearing Trust is classified as a 501(c)(3) tax-exempt organization.
Where is Gift Clearing Trust located?
Gift Clearing Trust is headquartered in INDIANAPOLIS, IN 46268.
What type of nonprofit is Gift Clearing Trust?
Gift Clearing Trust is classified under NTEE code T11 (Single Organization Support), within the Philanthropy, Voluntarism & Grantmaking category. It is a 501(c)(3) tax-exempt organization.
Is Gift Clearing Trust audited?
No, Gift Clearing Trust does not currently have audited financial statements.
Does Gift Clearing Trust give grants?
Yes, Gift Clearing Trust distributed $111,201,123 in grants to other organizations and individuals in tax year 2023. Top recipients include MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC.
Data Source
Prepared by: ERNST & YOUNG US LLP, NEW YORK, NY
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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