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Gift Clearing Trust
Gift Clearing Trust reported $125.9 million in revenue and $188.5 million in expenses for the fiscal year ending September 30, 2025. Of every $100 it spent, $99.95 went to program services, $0.05 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 96.1% of the total. Revenue rose 436% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending September 30, 2025 · Form 990, Part IX, line 25 · total expenses $189MFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending September 30, 2025 · Form 990, Part VIII · total revenue $126MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 100.0% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 0.0% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 96.1% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | Not reported | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | Not reported | 1.56% |
| People paid over $100,000 Part VII, line 2 | 0 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 5.3 | 56.6 |
| Independent voting board members Part VI 1a–1b | 1 of 1 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseGift 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
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b1 · 1 independent
- Audited financial statements Part XII 2bNo
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
- Volunteers Part I, line 61
Correct a figure or respond
Every number above is copied from Gift Clearing Trust's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Gift Clearing Trust, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Gift Clearing Trust spent in FY2025, $99.95 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Christian Community Foundation of MemphisMemphis, TN · revenue $125M · programs 95.8% · FY2025
- United Way of Central AlabamaBirmingham, AL · revenue $128M · programs 93.5% · 2024
- Greater Washington Community FoundationWashington, DC · revenue $123M · programs 93.8% · FY2025
- Jewish Community Foundation of Greater Metrowest NJWhippany, NJ · revenue $129M · programs 86.9% · FY2025
- Community Foundation for Monterey CountyMonterey, CA · revenue $123M · programs 94.8% · 2024
All philanthropy, voluntarism & grantmaking charities · Largest charities in Indiana
Questions people ask
How much of Gift Clearing Trust's spending goes to programs?
In the fiscal year ending September 30, 2025, Gift Clearing Trust reported that 100.0% of its $188.5 million in expenses went to program services, 0.0% to management and general and 0.0% to fundraising (Form 990, Part IX).
Where does Gift Clearing Trust get its money?
Of $125.9 million in revenue in the fiscal year ending September 30, 2025, 96.1% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Gift Clearing Trust a registered charity?
The IRS lists EIN 37-6639232 as a 501(c)(3) organization (supporting organization, type i), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending September 30, 2025, object 202642269349301849 · read the filing
- FY2024: Form 990 for the fiscal year ending September 30, 2024, object 202513219349325381 · read the filing
- FY2023: Form 990 for the fiscal year ending September 30, 2023, object 202413189349304341 · read the filing
- FY2022: Form 990 for the fiscal year ending September 30, 2022, object 202302279349304155 · read the filing
- FY2021: Form 990 for the fiscal year ending September 30, 2021, object 202232279349305008 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202102289349304275 · read the filing
All filings for EIN 37-6639232: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.