The Us Charitable Gift Trust
- Assets
- $1.3b
- Revenue
- $236.4m
- Investments
- $1.2b
- Employees
- 0
- Location
- Boston, MA
- Founding
- 09/1999
- Data as of
- 12/2022
- EIN
- 31-1663020
Organization Overview
The Us Charitable Gift Trust is located in Boston, MA. The organization was established in 1999. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Us Charitable Gift Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Us Charitable Gift Trust generated $236.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $203.6m during the year ending 12/2022. While expenses have increased by 12.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE U.S. CHARITABLE GIFT TRUST (THE "TRUST") IS TO INCREASE CHARITABLE GIVING THROUGH A COST-EFFECTIVE AND TAX-ADVANTAGED INVESTMENT PROGRAM THAT HELPS DONORS ACHIEVE THEIR PHILANTHROPIC GOALS. EATON VANCE MANAGEMENT MANAGES THE TRUST UNDER THE SUPERVISION OF THE TRUST'S BOARD OF DIRECTORS AND, ALONG WITH EATON VANCE TRUST COMPANY ("EVTC") AND CALVERT RESEARCH AND MANAGEMENT AS WELL AS CI EATON PRIVATE WEALTH, PROVIDES INVESTMENT ADVISORY SERVICES TO THE TRUST. ON AN ONGOING BASIS, EVTC, AS THE TRUST'S TRUSTEE, HIRES AND OVERSEES CERTAIN SERVICE PROVIDERS TO THE TRUST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE U.S. CHARITABLE GIFT TRUST (TRUST) IS A TAX-EXEMPT PUBLIC CHARITY OFFERING DONOR-ADVISED FUNDS AND POOLED INCOME FUNDS. AS DESCRIBED HEREIN, THE TRUST MAKES GRANTS TO NUMEROUS CHARITABLE ORGANIZATIONS THROUGHOUT THE UNITED STATES, INCLUDING CHARITABLE ORGANIZATIONS SELECTED BY PERSONS TRANSFERRING ACCEPTABLE PROPERTY TO THE TRUST (DONORS) AND OTHERS AUTHORIZED BY DONORS TO SELECT QUALIFIED CHARITABLE ORGANIZATIONS FOR GRANTS.THE TRUST WAS ESTABLISHED TO PROVIDE SUPPORT TO A BROAD RANGE OF CHARITABLE ORGANIZATIONS OVER TIME, WITHOUT INCURRING THE COSTS AND ADMINISTRATIVE BURDENS ASSOCIATED WITH THE CREATION AND OPERATION OF SEPARATE CHARITABLE FOUNDATIONS, WHILE AT THE SAME TIME ALLOWING DONORS TO DETERMINE WHEN AND HOW TO MAKE THEIR CHARITABLE GIFTS. ALL GRANTS ARE SUBJECT TO THE TRUSTS DETERMINATION THAT THE GRANT RECIPIENT IS A QUALIFIED CHARITABLE ORGANIZATION AND THAT THE GRANT OTHERWISE MEETS APPLICABLE LEGAL REQUIREMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey P Beale Lead Director | Trustee | 4 | $60,000 |
John Griffin Director | Trustee | 3 | $48,333 |
Michelle A Shell Director | Trustee | 3.5 | $45,000 |
Katharine B Leness Director | Trustee | 3.5 | $43,333 |
Kathleen L Ames Director | Trustee | 2.5 | $37,500 |
E Michael Brown 11 To 54 Lead Director | Trustee | 4 | $18,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eaton Vance Distributors Inc Fundraising | 12/30/22 | $5,909,444 |
Renaissance Administration Llc Donor Serv/ Fd Acct/ Tax | 12/30/22 | $3,677,655 |
Eaton Vance Management Asset Management | 12/30/22 | $984,127 |
Deloitte & Touche Llp Audit | 12/30/22 | $127,720 |
Eaton Vance Trust Company Asset Mgt / Trustee Fee | 12/30/22 | $856,298 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $214,583,283 |
| Noncash contributions included in lines 1a–1f | $119,351,783 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $214,583,283 |
| Total Program Service Revenue | $0 |
| Investment income | $16,949,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,883,553 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $236,415,879 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $191,476,741 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $252,916 |
| Compensation of current officers, directors, key employees. | $252,916 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,677,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,909,444 |
| Fees for services: Investment Management | $1,791,224 |
| Fees for services: Other | $131,738 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $203,557,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,796,618 |
| Savings and temporary cash investments | $1,178,227 |
| Pledges and grants receivable | $9,484,200 |
| Accounts receivable, net | $14,852,562 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,452,122 |
| Investments—other securities | $1,188,678,130 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,350,062 |
| Total assets | $1,258,791,921 |
| Accounts payable and accrued expenses | $17,079,363 |
| Grants payable | $1,793,843 |
| Deferred revenue | $191,307,359 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,724,793 |
| Total liabilities | $213,905,358 |
| Net assets without donor restrictions | $909,687,770 |
| Net assets with donor restrictions | $135,198,793 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,258,791,921 |