Overview
What is Gift Clearing Trust?
Gift Clearing Trust is a nonprofit organization based in Indianapolis, Indiana, specifically at CO RENPSG 8910 Purdue Rd 500. Its primary function is to accept and liquidate complex assets on behalf of Morgan Stanley Global Impact Funding Trust Inc., an organization classified under section 501(C)(3) of the Internal Revenue Code. The trust's mission is to support and promote philanthropy globally by managing the contributions of intricate assets on Morgan Stanley Global Impact Funding Trust Inc.'s behalf.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating.
Gift Clearing Trust has received a Two-Star rating from Charity Navigator, reflecting an overall score of 73%. This rating indicates that while the nonprofit demonstrates good accountability and financial practices, it falls short in certain areas that are critical for transparency and governance, particularly concerning its board composition and financial statement availability.
The organization boasts a fully independent board, which is a positive aspect, ensuring that there are no conflicts of interest among board members. Additionally, it has a strong financial health profile, with a 100% program expense ratio and zero liabilities, showcasing its commitment to directing funds towards its mission. The presence of vital policies, such as conflict of interest and whistleblower protections, further enhances its operational integrity.
However, the lack of financial statements and the small independent board size are notable limitations. These factors can raise concerns about transparency and the overall governance framework of the organization. Improving these areas could help enhance the trust and confidence of stakeholders and potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Gift Clearing Trust legitimate?
Gift Clearing Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gift Clearing Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Gift Clearing Trust?
The Gift Clearing Trust functions solely for the benefit of Morgan Stanley Global Impact Funding Trust Inc., a charitable organization. Its primary mission is to facilitate and support the fostering and promotion of philanthropy on a global scale. The trust accepts and liquidates complex assets donated to Morgan Stanley Global Impact Funding Trust Inc. for this noble cause. These assets are then used to further the growth and influence of philanthropy around the world. The trust operates under Internal Revenue Code section 501(c)(3), designating it as a tax-exempt charitable organization.
Who is the CEO of Gift Clearing Trust?
Melanie Schnoll-Begun is the Principal Officer of Gift Clearing Trust.
What is the revenue of Gift Clearing Trust?
Gift Clearing Trust's revenue in 2022 was $255,749,182.
Who are the executives of Gift Clearing Trust and what are their salaries?
There 1 volunteer at Gift Clearing Trust.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Gift Clearing Trust?
Gift Clearing Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Gift Clearing Trust
Gift Clearing Trust, a trust established for the sole benefit of Morgan Stanley Global Impact Funding Trust Inc, is dedicated to fostering and promoting philanthropy on a global scale. The trust plays a crucial role in accepting and liquidating complex assets on behalf of Morgan Stanley Global Impact Funding Trust Inc. This process enables the support and advancement of philanthropic initiatives worldwide.
The Gift Clearing Trust operates with the primary objective of furthering Morgan Stanley Global Impact Funding Trust Inc's mission to foster philanthropy. By managing the liquidation of intricate assets, the trust contributes significantly to the ultimate goal of making a positive impact on communities and individuals in need across the globe. The trust's actions are executed with the utmost dedication and commitment, allowing the Morgan Stanley Global Impact Funding Trust Inc to continue its essential work.
In essence, Gift Clearing Trust serves as a vital intermediary that facilitates the conversion of intricate assets into financial resources. These resources are later directed towards philanthropic initiatives, thus amplifying their potential impact on a global scale. The trust's mission is pivotal in enabling Morgan Stanley Global Impact Funding Trust Inc to effectively allocate resources towards initiatives aimed at improving lives and creating lasting change.
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Impact
October, 2024
Gift Clearing Trust plays a significant role in enhancing philanthropy worldwide by managing and liquidating complex asset contributions. By facilitating the acceptance and conversion of these assets, it enables more efficient funding for charitable initiatives under the Morgan Stanley Global Impact Funding Trust. This process not only underscores the trust’s commitment to philanthropy but also empowers donors to contribute more effectively, promoting a culture of giving and supporting a variety of global causes. Through its operations, Gift Clearing Trust helps to streamline the philanthropic process, making it easier for individuals and organizations to engage in charitable giving and contribute to meaningful change.
This information is meant to be a general summary of Gift Clearing Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$813,954
- Gross Receipts: $344,715,325
Assets and Liabilities:
- Total Assets: $210,994,704
- Total Liabilities: $0
- Net Assets: $210,994,704
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Organization Details
Founding Year
2016
Phone
(212) 248-3260Principal Officer
Melanie Schnoll-Begun
Main Address
CO RENPSG 8910 PURDUE RD 500, INDIANAPOLIS, IN, 46268
NTEE Category
Code: T11 - Philanthropy
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