Richard L Gray Perpetual Charitable Tr
Richard L Gray Perpetual Charitable Tr maintains strong assets and zero officer compensation amidst fluctuating revenues.
EIN: 206784832 · Pittsfield, IL · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $923K |
| Total Expenses | $448K |
| Program Spending | 95% |
| Net Assets | $3.8M |
| Transparency Score | 90/100 |
Is Richard L Gray Perpetual Charitable Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richard L Gray Perpetual Charitable Tr directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richard L Gray Perpetual Charitable Tr
Richard L Gray Perpetual Charitable Tr (EIN: 206784832) is a nonprofit organization based in Pittsfield, IL, classified under NTEE code T22. The organization reported total revenue of $923K and total assets of $3.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard L Gray Perpetual Charitable Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richard L Gray Perpetual Charitable Tr is a small nonprofit that has been operating for 16 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $566K |
| Total Expenses | $448K |
| Surplus / Deficit | +$119K |
| Total Assets | $3.8M |
| Total Liabilities | $1 |
| Net Assets | $3.8M |
| Operating Margin | 20.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 101.5 months |
Financial Health Grade: A
In 2023, Richard L Gray Perpetual Charitable Tr reported a surplus of $119K with revenue exceeding expenses, holds 101.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Richard L Gray Perpetual Charitable Tr's revenue has grown at a compound annual growth rate (CAGR) of 3.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +19.7% | +15.9% | +3.2% |
| 2022 | +135.4% | -32.2% | +2.4% |
| 2021 | -67.4% | +30.0% | -9.3% |
| 2020 | +87.2% | +39.3% | +4.7% |
| 2019 | +26.4% | -39.7% | -29.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2010 |
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 Richard L Gray Perpetual Charitable Tr with a Mission Score of 90 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Richard L Gray Perpetual Charitable Tr allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $119K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or the trust is managed without traditional executive salaries, which is highly efficient for a charitable trust 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.
Red Flags
The following concerns were identified during AI analysis of Richard L Gray Perpetual Charitable Tr's IRS 990 filings:
- Consistent reporting of $1 in liabilities across all periods, which is unusual and lacks detailed explanation.
Strengths
The following positive indicators were identified for Richard L Gray Perpetual Charitable Tr:
- Consistent growth in assets from $1.5M to $3.7M over the past decade, indicating strong financial stewardship.
- Zero officer compensation reported across all filings, demonstrating exceptional efficiency and dedication to mission.
- Minimal liabilities ($1 reported consistently), indicating a very strong balance sheet.
- Consistent filing of IRS 990s over 10 periods, showing good transparency.
Frequently Asked Questions about Richard L Gray Perpetual Charitable Tr
Is Richard L Gray Perpetual Charitable Tr a legitimate charity?
Richard L Gray Perpetual Charitable Tr (EIN: 206784832) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 90/100. It has 10 years of IRS 990 filings on record. Total revenue: $923K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Richard L Gray Perpetual Charitable Tr spend its money?
Richard L Gray Perpetual Charitable Tr directs 95% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Richard L Gray Perpetual Charitable Tr tax-deductible?
Richard L Gray Perpetual Charitable Tr is registered as a tax-exempt nonprofit (EIN: 206784832). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Richard L Gray Perpetual Charitable Tr compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Richard L Gray Perpetual Charitable Tr is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Richard L Gray Perpetual Charitable Tr located?
Richard L Gray Perpetual Charitable Tr is headquartered in Pittsfield, Illinois and files with the IRS under EIN 206784832. It is classified under NTEE code T22.
How many years of IRS 990 filings does Richard L Gray Perpetual Charitable Tr have?
Richard L Gray Perpetual Charitable Tr has 10 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 $923K in total revenue.
What is the nature of the $1 liability consistently reported across all filings?
The consistent reporting of $1 in liabilities is unusual and could be a placeholder or represent a nominal, recurring obligation. Further detail from the full 990 form would be needed to understand its exact nature.
How does the trust manage its operations without any reported officer compensation?
The absence of officer compensation suggests that the trust is either managed by volunteers, fiduciaries who do not draw a salary, or that administrative functions are outsourced and reported under other expense categories, though the latter is less likely given the 0% figure.
What causes the significant fluctuations in annual revenue, such as $4,553,066 in 2014 versus $200,971 in 2021?
Such large fluctuations in revenue are common for perpetual trusts that rely heavily on investment income, capital gains, or large, infrequent donations. Market performance or the timing of asset sales could explain these variations.
Filing History
IRS 990 filing history for Richard L Gray Perpetual Charitable Tr showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richard L Gray Perpetual Charitable Tr's revenue has grown by 52.5%, moving from $371K to $566K. Total assets increased by 140.2% over the same period, from $1.6M to $3.8M. Total functional expenses rose by 62.9%, from $275K to $448K. In its most recent filing year (2023), Richard L Gray Perpetual Charitable Tr reported a surplus of $119K, with revenue exceeding expenses. The organization holds $1 in liabilities against $3.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $566K | $448K | $3.8M | $1 | — | — |
| 2022 | $473K | $386K | $3.7M | $1 | — | View 990 |
| 2021 | $201K | $570K | $3.6M | $1 | — | View 990 |
| 2020 | $616K | $438K | $4.0M | $1 | — | — |
| 2019 | $329K | $315K | $3.8M | $1 | — | View 990 |
| 2015 | $260K | $521K | $5.3M | $1 | — | View 990 |
| 2014 | $4.6M | $537K | $5.8M | $1 | — | View 990 |
| 2013 | $213K | $307K | $1.8M | $1 | — | View 990 |
| 2012 | $635K | $324K | $1.9M | $1 | — | View 990 |
| 2011 | $371K | $275K | $1.6M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $566K, expenses of $448K, and assets of $3.8M (revenue +19.7% year-over-year).
- 2022: Revenue of $473K, expenses of $386K, and assets of $3.7M (revenue +135.4% year-over-year).
- 2021: Revenue of $201K, expenses of $570K, and assets of $3.6M (revenue -67.4% year-over-year).
- 2020: Revenue of $616K, expenses of $438K, and assets of $4.0M (revenue +87.2% year-over-year).
- 2019: Revenue of $329K, expenses of $315K, and assets of $3.8M (revenue +26.4% year-over-year).
- 2015: Revenue of $260K, expenses of $521K, and assets of $5.3M (revenue -94.3% year-over-year).
- 2014: Revenue of $4.6M, expenses of $537K, and assets of $5.8M (revenue +2040.6% year-over-year).
- 2013: Revenue of $213K, expenses of $307K, and assets of $1.8M (revenue -66.5% year-over-year).
- 2012: Revenue of $635K, expenses of $324K, and assets of $1.9M (revenue +71.0% year-over-year).
- 2011: Revenue of $371K, expenses of $275K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richard L Gray Perpetual Charitable Tr:
Data Sources and Methodology
This transparency report for Richard L Gray Perpetual Charitable Tr 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.