Garrett Chapel Memorial Trust
Garrett Chapel Memorial Trust maintains over $1 million in assets with zero officer compensation, despite fluctuating revenues.
EIN: 160759023 · Guilford, CT · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $436K |
| Total Expenses | $71K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $1.2M |
| Transparency Score | 85/100 |
Is Garrett Chapel Memorial Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Garrett Chapel Memorial Trust directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Garrett Chapel Memorial Trust
Garrett Chapel Memorial Trust (EIN: 160759023) is a nonprofit organization based in Guilford, CT. The organization reported total revenue of $436K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Garrett Chapel Memorial Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Garrett Chapel Memorial Trust is a small nonprofit that has been operating for 67 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $126K |
| Total Expenses | $71K |
| Surplus / Deficit | +$55K |
| Total Assets | $1.2M |
| Total Liabilities | $4K |
| Net Assets | $1.2M |
| Operating Margin | 43.6% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 196.8 months |
Financial Health Grade: A
In 2023, Garrett Chapel Memorial Trust reported a surplus of $55K with revenue exceeding expenses, holds 196.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Garrett Chapel Memorial Trust's revenue has grown at a compound annual growth rate (CAGR) of 8.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.3% | -19.1% | +14.5% |
| 2022 | -55.1% | -85.9% | -9.9% |
| 2021 | +129.0% | +504.9% | -24.1% |
| 2020 | -17.1% | -50.1% | +6.8% |
| 2019 | -45.5% | +134.8% | +6.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1959 |
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 Garrett Chapel Memorial Trust with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Garrett Chapel Memorial Trust allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $55K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
Garrett Chapel Memorial Trust consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is highly efficient for an organization with over $1 million in assets.
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 Garrett Chapel Memorial Trust's IRS 990 filings:
- Significant revenue volatility, making long-term planning potentially challenging.
- Lack of detailed spending breakdown (e.g., program vs. administrative) in provided summary data, hindering a precise efficiency assessment.
Strengths
The following positive indicators were identified for Garrett Chapel Memorial Trust:
- Consistent maintenance of over $1 million in assets, indicating strong financial stability.
- Zero officer compensation reported across all filings, demonstrating exceptional efficiency and dedication.
- Expenses generally well below revenue, indicating prudent financial management.
- Ability to recover from years with higher expenses, such as 2021, without long-term financial detriment.
Frequently Asked Questions about Garrett Chapel Memorial Trust
Is Garrett Chapel Memorial Trust a legitimate charity?
Garrett Chapel Memorial Trust (EIN: 160759023) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $436K. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Garrett Chapel Memorial Trust spend its money?
Garrett Chapel Memorial Trust directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Garrett Chapel Memorial Trust tax-deductible?
Garrett Chapel Memorial Trust is registered as a tax-exempt nonprofit (EIN: 160759023). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Garrett Chapel Memorial Trust CEO make?
Garrett Chapel Memorial Trust's highest-compensated officer earns $1 annually. The organization reported $436K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Garrett Chapel Memorial Trust located?
Garrett Chapel Memorial Trust is headquartered in Guilford, Connecticut and files with the IRS under EIN 160759023.
How many years of IRS 990 filings does Garrett Chapel Memorial Trust have?
Garrett Chapel Memorial Trust has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $436K in total revenue.
Is Garrett Chapel Memorial Trust a good charity?
Based on the available data, Garrett Chapel Memorial Trust appears to be a well-managed organization with strong financial health, consistently maintaining over $1 million in assets. The absence of officer compensation suggests high efficiency and a strong commitment to its mission, making it a potentially good charity.
How does Garrett Chapel Memorial Trust manage its finances given revenue fluctuations?
The organization manages revenue fluctuations by maintaining a substantial asset base, which has consistently been over $1 million. This allows it to absorb periods where expenses exceed revenue, such as in 2021, and continue operations without significant financial distress.
What caused the significant expense increase in 2021?
In 2021, Garrett Chapel Memorial Trust reported expenses of $625,449, significantly higher than its revenue of $280,187 and typical annual expenses. Without detailed program expense breakdowns, the specific cause is unclear, but it likely represents a major program initiative or a significant one-time investment.
Filing History
IRS 990 filing history for Garrett Chapel Memorial Trust showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Garrett Chapel Memorial Trust's revenue has grown by 167.8%, moving from $47K to $126K. Total assets increased by 83.9% over the same period, from $635K to $1.2M. Total functional expenses rose by 23.7%, from $58K to $71K. In its most recent filing year (2023), Garrett Chapel Memorial Trust reported a surplus of $55K, with revenue exceeding expenses. The organization holds $4K in liabilities against $1.2M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $126K | $71K | $1.2M | $4K | — | — |
| 2022 | $126K | $88K | $1.0M | $6K | — | View 990 |
| 2021 | $280K | $625K | $1.1M | $3K | — | View 990 |
| 2020 | $122K | $103K | $1.5M | $9K | — | — |
| 2019 | $148K | $207K | $1.4M | $3K | — | View 990 |
| 2018 | $271K | $88K | $1.3M | $0 | — | View 990 |
| 2017 | $167K | $165K | $1.2M | $0 | — | View 990 |
| 2016 | $440K | $273K | $1.1M | $0 | — | View 990 |
| 2015 | $653K | $64K | $1.1M | $0 | — | View 990 |
| 2014 | $100K | $64K | $662K | $0 | — | View 990 |
| 2013 | $72K | $67K | $626K | $0 | — | View 990 |
| 2012 | $57K | $71K | $621K | $0 | — | View 990 |
| 2011 | $47K | $58K | $635K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $126K, expenses of $71K, and assets of $1.2M (revenue +0.3% year-over-year).
- 2022: Revenue of $126K, expenses of $88K, and assets of $1.0M (revenue -55.1% year-over-year).
- 2021: Revenue of $280K, expenses of $625K, and assets of $1.1M (revenue +129.0% year-over-year).
- 2020: Revenue of $122K, expenses of $103K, and assets of $1.5M (revenue -17.1% year-over-year).
- 2019: Revenue of $148K, expenses of $207K, and assets of $1.4M (revenue -45.5% year-over-year).
- 2018: Revenue of $271K, expenses of $88K, and assets of $1.3M (revenue +62.8% year-over-year).
- 2017: Revenue of $167K, expenses of $165K, and assets of $1.2M (revenue -62.2% year-over-year).
- 2016: Revenue of $440K, expenses of $273K, and assets of $1.1M (revenue -32.5% year-over-year).
- 2015: Revenue of $653K, expenses of $64K, and assets of $1.1M (revenue +554.1% year-over-year).
- 2014: Revenue of $100K, expenses of $64K, and assets of $662K (revenue +37.9% year-over-year).
- 2013: Revenue of $72K, expenses of $67K, and assets of $626K (revenue +26.3% year-over-year).
- 2012: Revenue of $57K, expenses of $71K, and assets of $621K (revenue +21.6% year-over-year).
- 2011: Revenue of $47K, expenses of $58K, and assets of $635K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Garrett Chapel Memorial Trust:
Data Sources and Methodology
This transparency report for Garrett Chapel Memorial Trust 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.