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Clay Fellowship Charitable Tr FY2020 filing

Tax-deductible

Boston, MA501(c)(3)Foundations & GrantmakersEIN 04-3560268Revenue −$657K in FY2020

On file with the IRS31 Saint James Ave Ste 740, 02116-4186 · Boston, MATax-exempt since Mar 2002Supporting organization — 509(a)(3)

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The sole activity of the trust is to make contributions to the smithsonian astrophysical observatory of the smithsonian institution of washington, DC, a 501(c)(3) public charity.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
4 of 6
filings with a surplus
Average surplus $59K a year · 15% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$657K
-499% vs prior year
Spent
$353K
To programs
89%
Net assets
$5.1M
By yearFY2019–FY2024
Revenue
−$657K
FY2020▼ -499%
Tap a bar for its year
Revenue by fiscal year
FY2019$165K
FY2020−$657K
FY2021$416K
FY2022$770K
FY2023$510K
FY2024$1.1M
Expenses
$353K
FY2020▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2019$403K
FY2020$353K
FY2021$396K
FY2022$506K
FY2023$119K
FY2024$150K
Net assets
$5.1M
FY2020▼ -20%
Tap a bar for its year
Net assets by fiscal year
FY2019$6.4M
FY2020$5.1M
FY2021$5.4M
FY2022$6.0M
FY2023$6.6M
FY2024$7.8M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2002.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $314K Management & general 11% · $39K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Lee Kozol
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
See Clay Fellowship Charitable Tr executive salaries →

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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

Donates funds to the Smithsonian Astrophysical Observatory.

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Provided by the organization

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1 program · $314K · in their own filed words · FY2020
01

Fellowship distribution to the smithsonian astrophysical observatory of the smithsonian institute of washington, D.C. The funds contributed by the trust will support a post-doctoral fellowship program in astrophysics.

$314Kprogram 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 · 3 grants · $1.1M · 2019–2021
Smithsonian InstitutionDC · FY2021$367,114
Smithsonian InstitutionDC · FY2020$313,659
Smithsonian InstitutionDC · FY2019$396,910

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$657K
Ln 12
Investment incomeLn 3$82K
Money outPt IX
$353K
Ln 25
Programscol B$314K
Managementcol C$39K
Owns and owesPt X
$5.1M
net assets · Ln 32
Cash and savingsLn 1–2$113K
Total assetsLn 16$5.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$82K
Gains on assetsLn 7−$739K
Total revenueLn 12−$657K
Assets in detailPt X, end of year
CashLn 1$113K
SavingsLn 2$0
Cash and savings togetherLn 1–2$113K
InvestmentsLn 11–13$5.0M
Total assetsLn 16$5.1M
LiabilitiesLn 26$0
Net assetsLn 32$5.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$465K$113K
InvestmentsLn 11–13$5.9M$5.0M
Total assetsLn 16$6.4M$5.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$6.4M$5.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$314K$314K
Accounting feesLn 11c$11K$11K
Investment management feesLn 11f$21K$21K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$353K$314K$39K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$150K$926K$7.8M 990 PDF
FY2023 $510K$119K$391K$6.6M 990 PDF
FY2022 $770K$506K$264K$6.0M 990 PDF
FY2021 $416K$396K$20K$5.4M 990 PDF
FY2020 Viewing −$657K$353K−$1.0M$5.1M 990 PDF
FY2019 $165K$403K−$238K$6.4M 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 FY2020 990 (6 parts)
Part I · Summary −$657,136 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $164,533−$657,136
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $164,533−$657,136
I-13 Grants and similar amounts paidPrior year $396,910$313,659
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,799$39,428
I-18 Total expensesPrior year $402,709$353,087
I-19 Revenue less expensesPrior year −$238,176−$1,010,223
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue −$657,136 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $81,906$81,906
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$739,042−$739,042
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$657,136−$657,136
Part IX · Statement of functional expenses $353,087 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $313,659$313,659
IX-11c Accounting feesManagement $11,050$11,050
IX-11f Investment management feesManagement $21,281$21,281
IX-24 Other expenses (24a–d)Management $7,097$7,097
IX-25 Total functional expensesPrograms $313,659 · Management $39,428 · Fundraising $0$353,087
Part X · Balance sheet $5,126,748 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $88,922$113,376
X-2 Savings and temporary cash investmentsStart of year $376,167$0
X-11 Publicly traded securitiesStart of year $3,701,662$3,061,635
X-12 Other securitiesStart of year $2,246,007$1,951,737
X-16 Total assetsStart of year $6,412,758$5,126,748
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $6,412,758$5,126,748
X-33 Total liabilities and net assetsStart of year $6,412,758$5,126,748
Part XI · Reconciliation of net assets $5,126,748 net assets at year end
XI-1 Total revenue−$657,136
XI-2 Total expenses$353,087
XI-3 Revenue less expenses−$1,010,223
XI-4 Net assets at start of year$6,412,758
XI-5 Net unrealized gains (losses) on investments−$294,270
XI-9 Other changes in net assets$18,483
XI-10 Net assets at end of year$5,126,748

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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