Advisors Charitable Gift Fund INC

Tax-deductible

Woburn, MA501(c)(3)Public & Societal BenefitEIN 01-0782573Revenue $3.5M in FY2024

On file with the IRSacgfund.org12 Gill St Ste 2600, 01801-1729 · Woburn, MATax-exempt since Dec 2003Publicly supported — 509(a)(2)

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To promote charitable giving.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$14K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $1.0M a year · 16% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$14K
to officers and key staff · 0.4% of spending
Top officer’s pay lower than 99% of similar orgs
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$18K
0.07% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.5M
+5% vs prior year
Spent
$3.7M
To programs
91%
Net assets
$27.4M
By yearFY2020–FY2024
Revenue
$3.5M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$8.7M
FY2021$9.2M
FY2022$6.3M
FY2023$3.4M
FY2024$3.5M
Expenses
$3.7M
FY2024▼ -42%
Tap a bar for its year
Expenses by fiscal year
FY2020$6.6M
FY2021$10.6M
FY2022$9.0M
FY2023$6.3M
FY2024$3.7M
Net assets
$27.4M
FY2024▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$32.8M
FY2021$36.8M
FY2022$25.5M
FY2023$22.7M
FY2024$27.4M

From the FY2024 Form 990 (year ending October 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $3.3M Management & general 9% · $335K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $14K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$2,500Pt VII · Sec A
$2,500Pt VII · Sec A
$2,000Pt VII · Sec A
Past Director
$2,000Pt VII · Sec A
$2,000Pt VII · Sec A
Vice Chairman
$2,000Pt VII · Sec A
$1,500Pt VII · Sec A
$0Pt VII · Sec A

Dr Diane Cooksey Kessler’s $2K as Chairperson is at the 1st percentile of top reported officer pay among 731 $1–10M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Dr Diane Cooksey Kessler$2,500$2,500$2,500$2,500$2,500
Joseph Gibbons$2,500$2,500$2,500$2,000$2,500
David a St Yves$2,000$2,500$2,500$2,000$2,000
Ronald D Dean$2,000$2,000$1,500$2,000$1,500
Mark O'Connell$1,500$2,000$2,000$2,000$1,000
William Hogan JR$2,000$2,000$2,000$2,000$1,500
Kenneth G Y Grant$2,000$2,000$1,500$1,500—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Facilitates charitable giving by making grants to a wide range of nonprofits.

Questions for Advisors Charitable Gift Fund INC

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Provided by the organization

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1 program · $3.3M · in their own filed words · FY2023
01

The fund made grants to 581 charitable organizations in the areas of education, culture, religion, social services and overcoming poverty.

$3.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 924 grants · $30.0M · 2019–2023
Scholarship America INCMN · FY2023$113,840
Equip Leadership INCGA · FY2023$105,000
Leukemia & Lymphoma SocietyNY · FY2023$70,000
Jeremiah ProgramMN · FY2023$60,000
Doylestown Health FoundationPA · FY2023$55,000
Central Fund of IsraelNY · FY2023$50,000
Lake Forest ChurchNC · FY2023$40,000
First Baptist ChurchNY · FY2023$36,500
The Church of Jesus Christ of Latter-Day SaintsFY2023$32,000
Doctors Without BordersNY · FY2023$31,500
See all 924 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.5M
Ln 12
Gifts and grantsLn 1h$2.2M
Investment incomeLn 3$1.1M
Fees for servicesLn 2g$179K
Money outPt IX
$3.7M
Ln 25
Programscol B$3.3M
Managementcol C$335K
Owns and owesPt X
$27.4M
net assets · Ln 32
Cash and savingsLn 1–2$357
Total assetsLn 16$27.4M
LiabilitiesLn 26$18K
PeoplePt VI, VII
9
listed · VII A
PaidVII A7
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.2M
Noncash giftsLn 1g$919K
Fees for servicesLn 2g$179K
Investment incomeLn 3$1.1M
Gains on assetsLn 7$543K
Total revenueLn 12$3.5M
Assets in detailPt X, end of year
CashLn 1$357
Cash and savings togetherLn 1–2$357
InvestmentsLn 11–13$27.4M
Total assetsLn 16$27.4M
LiabilitiesLn 26$18K
Net assetsLn 32$27.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$396$357
InvestmentsLn 11–13$22.8M$27.4M
Total assetsLn 16$22.8M$27.4M
LiabilitiesLn 26$24K$18K
Net assetsLn 32$22.7M$27.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3.3M$3.3M
Pay of current officers, directors and key staffLn 5$12K$12K
Management feesLn 11a$107K$107K
Accounting feesLn 11c$19K$19K
Investment management feesLn 11f$11K$11K
Office expensesLn 13$423$423
Information technologyLn 14$2K$2K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$174K$174K
Total functional expensesLn 25$3.7M$3.3M$335K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.5M$3.7M−$113K$27.4M 990 PDF
FY2023 $3.4M$6.3M−$2.9M$22.7M 990 PDF
FY2022 $6.3M$9.0M−$2.7M$25.5M 990 PDF
FY2021 $9.2M$10.6M−$1.4M$36.8M 990 PDF
FY2020 $8.7M$6.6M$2.1M$32.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $3,537,730 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,527,137$2,223,357
I-9 Program service revenuePrior year $177,234$178,951
I-10 Investment incomePrior year $1,654,617$1,135,422
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,358,988$3,537,730
I-13 Grants and similar amounts paidPrior year $5,939,166$3,315,049
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $15,000$12,500
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $331,762$322,970
I-18 Total expensesPrior year $6,285,928$3,650,519
I-19 Revenue less expensesPrior year −$2,926,940−$112,789
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $3,537,730 across 7 lines filed
VIII-1f All other contributions, gifts and grants$2,223,357
VIII-1g Noncash contributions (included above)$918,921
VIII-1h Total contributions, gifts and grants$2,223,357
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $178,951$178,951
VIII-3 Investment incomeExcluded from tax $592,115$592,115
VIII-7 Net gain or loss on sales of assetsExcluded from tax $543,307$543,307
VIII-12 Total revenueRelated to mission $178,951 · Unrelated business $0 · Excluded from tax $1,135,422$3,537,730
Part IX · Statement of functional expenses $3,650,519 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $3,315,049$3,315,049
IX-5 Pay of current officers, directors and key staffManagement $12,500$12,500
IX-11a Management feesManagement $106,978$106,978
IX-11c Accounting feesManagement $18,800$18,800
IX-11f Investment management feesManagement $10,939$10,939
IX-13 Office expensesManagement $423$423
IX-14 Information technologyManagement $2,400$2,400
IX-23 InsuranceManagement $9,442$9,442
IX-24 Other expenses (24a–d)Management $173,988$173,988
IX-25 Total functional expensesPrograms $3,315,049 · Management $335,470 · Fundraising $0$3,650,519
Part X · Balance sheet $27,413,364 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $396$357
X-9 Prepaid expenses and deferred chargesStart of year $8,657$8,657
X-11 Publicly traded securitiesStart of year $22,757,014$27,404,350
X-16 Total assetsStart of year $22,766,067$27,413,364
X-17 Accounts payable and accrued expensesStart of year $23,630$18,222
X-26 Total liabilitiesStart of year $23,630$18,222
X-27 Net assets without donor restrictionsStart of year $22,742,437$27,395,142
X-32 Total net assets or fund balancesStart of year $22,742,437$27,395,142
X-33 Total liabilities and net assetsStart of year $22,766,067$27,413,364
Part XI · Reconciliation of net assets $27,395,142 net assets at year end
XI-1 Total revenue$3,537,730
XI-2 Total expenses$3,650,519
XI-3 Revenue less expenses−$112,789
XI-4 Net assets at start of year$22,742,437
XI-5 Net unrealized gains (losses) on investments$4,765,494
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$27,395,142

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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