Cleve Gray Foundation
Cleve Gray Foundation faces sustained operating deficits, drawing down assets over recent years.
EIN: 204701981 · Lakeville, CT · NTEE: T20 · Updated: 2026-03-28
Is Cleve Gray Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cleve Gray Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Cleve Gray Foundation
Cleve Gray Foundation (EIN: 204701981) is a nonprofit organization based in Lakeville, CT, classified under NTEE code T20. The organization reported total revenue of $20K and total assets of $2.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cleve Gray Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cleve Gray Foundation is a micro nonprofit that has been operating for 20 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 103.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $46K |
| Total Expenses | $118K |
| Surplus / Deficit | $-71,880 |
| Total Assets | $3.0M |
| Total Liabilities | $1 |
| Net Assets | $3.0M |
| Operating Margin | -155.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 299.6 months |
Financial Health Grade: B
In 2023, Cleve Gray Foundation reported a deficit of $72K with expenses exceeding revenue, holds 299.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2023), Cleve Gray Foundation's revenue has grown at a compound annual growth rate (CAGR) of 103.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +118.2% | +24.9% | -2.4% |
| 2022 | -16.9% | -41.2% | -2.4% |
| 2020 | -100.3% | +78.0% | -6.5% |
| 2019 | +357367600.0% | +7196.4% | +70805.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cleve Gray Foundation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Cleve Gray Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $72K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Cleve Gray Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is likely volunteer-based or compensated through other means not categorized as officer compensation, which is positive for minimizing overhead relative to its asset base of nearly $3 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Cleve Gray Foundation's IRS 990 filings:
- Consistent operating deficits (e.g., $46,386 revenue vs. $118,266 expenses in 2023).
- Declining asset base over recent years (from $3,457,363 in 2019 to $2,952,994 in 2023).
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data.
- Negative revenue reported in 2020 ($-11,712).
Strengths
The following positive indicators were identified for Cleve Gray Foundation:
- No reported officer compensation, indicating potential volunteer leadership.
- Significant asset base of nearly $3 million, providing a buffer despite recent declines.
- Consistent filing history with the IRS (9 filings).
Frequently Asked Questions about Cleve Gray Foundation
Is Cleve Gray Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Cleve Gray Foundation (EIN: 204701981) significant concerns. Mission Score: 45/100. 4 red flags identified, 3 strengths noted.
How does Cleve Gray Foundation spend its money?
Cleve Gray Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cleve Gray Foundation tax-deductible?
Cleve Gray Foundation is registered as a tax-exempt nonprofit (EIN: 204701981). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Cleve Gray Foundation a good charity?
The foundation's financial sustainability is a concern due to consistent operating deficits and declining assets. While the lack of officer compensation is positive, a full assessment requires more detailed expense breakdowns to understand program efficiency.
How does the foundation fund its operations given the revenue shortfalls?
The consistent decline in assets from $3,457,363 in 2019 to $2,952,994 in 2023 suggests the foundation is funding its operations by drawing down its endowment or accumulated reserves.
What caused the significant revenue spike in 2019?
The 2019 revenue of $3,573,677 is an outlier compared to other years. Without further detail from the 990 filing, it's unclear if this was a large one-time donation, a grant, or an asset sale.
What are the primary program activities of the Cleve Gray Foundation?
The provided data does not detail the specific program activities. Understanding these would be crucial to assess the impact of their spending.
Filing History
IRS 990 filing history for Cleve Gray Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Cleve Gray Foundation's revenue has grown by 515300%, moving from $9 to $46K. Total assets increased by 28712.5% over the same period, from $10K to $3.0M. Total functional expenses rose by 3899.5%, from $3K to $118K. In its most recent filing year (2023), Cleve Gray Foundation reported a deficit of $72K, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $46K | $118K | $3.0M | $1 | — | — |
| 2022 | $21K | $95K | $3.0M | $1 | — | View 990 |
| 2021 | $26K | $161K | $3.1M | $1 | — | View 990 |
| 2020 | $-11,712 | $212K | $3.2M | $1 | — | — |
| 2019 | $3.6M | $119K | $3.5M | $1 | — | — |
| 2014 | $1 | $2K | $5K | $1 | — | View 990 |
| 2013 | $3 | $2K | $7K | $0 | — | View 990 |
| 2012 | $10 | $2K | $8K | $0 | — | View 990 |
| 2011 | $9 | $3K | $10K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $46K, expenses of $118K, and assets of $3.0M (revenue +118.2% year-over-year).
- 2022: Revenue of $21K, expenses of $95K, and assets of $3.0M (revenue -16.9% year-over-year).
- 2021: Revenue of $26K, expenses of $161K, and assets of $3.1M.
- 2020: Revenue of $-11,712, expenses of $212K, and assets of $3.2M (revenue -100.3% year-over-year).
- 2019: Revenue of $3.6M, expenses of $119K, and assets of $3.5M (revenue +357367600.0% year-over-year).
- 2014: Revenue of $1, expenses of $2K, and assets of $5K (revenue -66.7% year-over-year).
- 2013: Revenue of $3, expenses of $2K, and assets of $7K (revenue -70.0% year-over-year).
- 2012: Revenue of $10, expenses of $2K, and assets of $8K (revenue +11.1% year-over-year).
- 2011: Revenue of $9, expenses of $3K, and assets of $10K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cleve Gray Foundation:
Data Sources and Methodology
This transparency report for Cleve Gray Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.