Gray Foundation Inc
Gray Foundation Inc. maintains stable assets and zero liabilities with no officer compensation.
EIN: 208823263 · Old Lyme, CT · NTEE: B82 · Updated: 2026-03-28
Is Gray Foundation Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gray Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gray Foundation Inc
Gray Foundation Inc (EIN: 208823263) is a nonprofit organization based in Old Lyme, CT, classified under NTEE code B82. The organization reported total revenue of $99K and total assets of $20K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gray Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Gray Foundation Inc with a Mission Score of 95 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, Gray Foundation Inc 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.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly commendable for a nonprofit of its size.
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.
Strengths
The following positive indicators were identified for Gray Foundation Inc:
- Consistent reporting of zero liabilities across all filings.
- No officer compensation reported, indicating efficient use of funds.
- Healthy asset base relative to revenue, demonstrating financial stability.
- Long history of IRS 990 filings (13 filings), showing commitment to transparency.
- Expenses generally align with or are below revenue in recent years, suggesting prudent spending.
Frequently Asked Questions about Gray Foundation Inc
Is Gray Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Gray Foundation Inc (EIN: 208823263) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Gray Foundation Inc spend its money?
Gray Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gray Foundation Inc tax-deductible?
Gray Foundation Inc is registered as a tax-exempt nonprofit (EIN: 208823263). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Gray Foundation Inc. a good charity?
Based on the provided financial data, Gray Foundation Inc. appears to be a good charity. It consistently reports zero liabilities, has no officer compensation, and maintains a healthy asset base relative to its revenue, indicating strong financial management and a focus on its mission.
How has Gray Foundation Inc.'s revenue trended over time?
Gray Foundation Inc.'s revenue has shown significant fluctuation, with a low of $5,077 in 2016 and a high of $99,340 in 2021. The most recent filing for 2023 shows revenue of $89,341, indicating a generally upward trend in recent years after some volatility.
What is the Gray Foundation Inc.'s financial stability?
The Gray Foundation Inc. demonstrates strong financial stability, consistently reporting $0 in liabilities across all 13 filings. Its assets have also remained positive, reaching $20,713 in 2023, indicating a healthy balance sheet.
Filing History
IRS 990 filing history for Gray Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Gray Foundation Inc's revenue has grown by 509.3%, moving from $15K to $89K. Total assets increased by 153.2% over the same period, from $8K to $21K. Total functional expenses rose by 420.2%, from $15K to $79K. In its most recent filing year (2023), Gray Foundation Inc reported a surplus of $10K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $89K | $79K | $21K | $0 | — | — |
| 2022 | $65K | $90K | $11K | $0 | — | View 990 |
| 2021 | $99K | $80K | $36K | $0 | — | View 990 |
| 2020 | $5K | $17K | $17K | $0 | — | — |
| 2019 | $28K | $11K | $29K | $0 | — | View 990 |
| 2018 | $13K | $14K | $11K | $0 | — | View 990 |
| 2017 | $7K | $6K | $12K | $0 | — | — |
| 2016 | $5K | $9K | $11K | $0 | — | View 990 |
| 2015 | $17K | $18K | $16K | $0 | — | View 990 |
| 2014 | $12K | $13K | $17K | $0 | — | View 990 |
| 2013 | $14K | $8K | $19K | $0 | — | View 990 |
| 2012 | $10K | $6K | $12K | $0 | — | View 990 |
| 2011 | $15K | $15K | $8K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $89K, expenses of $79K, and assets of $21K (revenue +37.8% year-over-year).
- 2022: Revenue of $65K, expenses of $90K, and assets of $11K (revenue -34.7% year-over-year).
- 2021: Revenue of $99K, expenses of $80K, and assets of $36K (revenue +1797.6% year-over-year).
- 2020: Revenue of $5K, expenses of $17K, and assets of $17K (revenue -81.4% year-over-year).
- 2019: Revenue of $28K, expenses of $11K, and assets of $29K (revenue +110.2% year-over-year).
- 2018: Revenue of $13K, expenses of $14K, and assets of $11K (revenue +105.4% year-over-year).
- 2017: Revenue of $7K, expenses of $6K, and assets of $12K (revenue +28.7% year-over-year).
- 2016: Revenue of $5K, expenses of $9K, and assets of $11K (revenue -69.4% year-over-year).
- 2015: Revenue of $17K, expenses of $18K, and assets of $16K (revenue +43.3% year-over-year).
- 2014: Revenue of $12K, expenses of $13K, and assets of $17K (revenue -20.1% year-over-year).
- 2013: Revenue of $14K, expenses of $8K, and assets of $19K (revenue +40.6% year-over-year).
- 2012: Revenue of $10K, expenses of $6K, and assets of $12K (revenue -29.8% year-over-year).
- 2011: Revenue of $15K, expenses of $15K, and assets of $8K.
Data Sources and Methodology
This transparency report for Gray Foundation Inc 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.