Comerica Charitable Trust: FY2024 Nonprofit Profile & Form 990 (EIN 65-1259308)

Revenue by fiscal year
FY2021	$21.2M
FY2022	$13.3M
FY2023	$13.0M
FY2024	$10.8M
FY2025	$22.6M

Expenses by fiscal year
FY2021	$16.7M
FY2022	$8.6M
FY2023	$16.6M
FY2024	$11.2M
FY2025	$22.2M

Net assets by fiscal year
FY2021	$85.9M
FY2022	$75.7M
FY2023	$78.2M
FY2024	$84.0M
FY2025	$87.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2006.

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

Where the money goes

93 cents of each dollar spent went to programs.

93%

Program services 93% · $10.4M Management & general 7% · $835K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Comerica Bank and Trust NA

Trustee

$0Pt VII · Sec A

See Comerica Charitable Trust 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

Manages and distributes financial assets to support qualified charitable organizations and their programs.

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Provided by the organization

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1 program · $10.4M · in their own filed words · FY2023

01

Distributions to qualified charities

$10.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2025

Mpri Charitable FoundationFY2025$10K

Total grants receivedfrom 1 funder$10K

Grants paid · 1,054 grants · $67.6M · 2020–2024

Society for Protestant Reformed Secondary EducationMI · FY2024$5,000,000

Global ImpactDC · FY2024$4,015,300

Chaldean Catholic Church of the United States of AmericaMI · FY2024$1,724,997

Bank of America Charitable Gift FundMA · FY2024$572,661

Heritage FoundationDC · FY2024$450,000

Fidelity Investments Charitable Gift FundMA · FY2024$344,957

Campbell Hall -Episcopal-CA · FY2024$320,000

Watertown Area Community FoundationWI · FY2024$300,000

Geneva Camp & Retreat CenterMI · FY2024$250,000

Fellowship of Catholic University StudentsCO · FY2024$250,000

St Vincent De Paul Catholic Parish in DenverCO · FY2024$200,000

B I G Love Cancer Care ServicesTX · FY2024$200,000

Mayo ClinicMN · FY2024$160,000

Huron Intermediate School DistrictFY2024$126,500

St Jude Children's Research Hospital INCTN · FY2024$125,750

Porter-Gaud SchoolSC · FY2024$125,000

From the Heart Productions INCCA · FY2024$120,000

Christ Episcopal ChurchTX · FY2024$120,000

See all 1,054 grants →

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$10.8M

Ln 12

Gifts and grantsLn 1h$6.3M

Investment incomeLn 3$4.5M

Other incomeLn 4–11$1K

Money outPt IX

$11.2M

Ln 25

Programscol B$10.4M

Managementcol C$835K

Owns and owesPt X

$84.0M

net assets · Ln 32

Cash and savingsLn 1–2$4.1M

Total assetsLn 16$84.2M

LiabilitiesLn 26$116K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$6.3M

Noncash giftsLn 1g$2.5M

Investment incomeLn 3$4.5M

Other incomeLn 4–11$1K

Gains on assetsLn 7$2.1M

Total revenueLn 12$10.8M

Assets in detailPt X, end of year

CashLn 1$4.1M

Cash and savings togetherLn 1–2$4.1M

InvestmentsLn 11–13$79.3M

Other assetsLn 15$459K

Total assetsLn 16$84.2M

LiabilitiesLn 26$116K

Net assetsLn 32$84.0M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$4.1M	$4.1M
InvestmentsLn 11–13	$73.6M	$79.3M
Total assetsLn 16	$78.3M	$84.2M
LiabilitiesLn 26	$93K	$116K
Net assetsLn 32	$78.2M	$84.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$10.4M	$10.4M
Legal feesLn 11b	$6K		$6K
Accounting feesLn 11c	$84K		$84K
Investment management feesLn 11f	$546K		$546K
Information technologyLn 14	$85K		$85K
InsuranceLn 23	$100K		$100K
Other expenses (24a–d)Ln 24	$14K		$14K
Total functional expensesLn 25	$11.2M	$10.4M	$835K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$22.6M	$22.2M	$419K	$87.0M	990 PDF
FY2024 Viewing	$10.8M	$11.2M	−$427K	$84.0M	990 PDF
FY2023	$13.0M	$16.6M	−$3.6M	$78.2M	990 PDF
FY2022	$13.3M	$8.6M	$4.7M	$75.7M	990 PDF
FY2021	$21.2M	$16.7M	$4.4M	$85.9M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $10,806,039 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $10,560,193$6,313,837

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $2,432,681$4,490,764

I-11 Other revenuePrior year $1,195$1,438

I-12 Total revenuePrior year $12,994,069$10,806,039

I-13 Grants and similar amounts paidPrior year $15,833,006$10,397,858

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 $805,210$834,795

I-18 Total expensesPrior year $16,638,216$11,232,653

I-19 Revenue less expensesPrior year −$3,644,147−$426,614

Part VI · Governance 0 of 1 board members independent, 3 to look at

VI-1a Voting members of the governing body1

VI-1b Independent voting members0

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

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $10,806,039 across 7 lines filed

VIII-1f All other contributions, gifts and grants$6,313,837

VIII-1g Noncash contributions (included above)$2,535,347

VIII-1h Total contributions, gifts and grants$6,313,837

VIII-3 Investment incomeExcluded from tax $2,359,981$2,359,981

VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,130,783$2,130,783

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,438$1,438

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,492,202$10,806,039

Part IX · Statement of functional expenses $11,232,653 across 7 lines filed

IX-1 Grants to domestic organizationsPrograms $10,397,858$10,397,858

IX-11b Legal feesManagement $5,526$5,526

IX-11c Accounting feesManagement $84,301$84,301

IX-11f Investment management feesManagement $546,166$546,166

IX-14 Information technologyManagement $85,140$85,140

IX-23 InsuranceManagement $100,000$100,000

IX-24 Other expenses (24a–d)Management $13,662$13,662

IX-25 Total functional expensesPrograms $10,397,858 · Management $834,795 · Fundraising $0$11,232,653

Part X · Balance sheet $84,152,209 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $4,114,154$4,137,379

X-4 Accounts receivableStart of year $118,372$178,401

X-9 Prepaid expenses and deferred chargesStart of year $69,705$77,179

X-11 Publicly traded securitiesStart of year $73,569,635$79,300,231

X-15 Other assetsStart of year $432,265$459,019

X-16 Total assetsStart of year $78,304,131$84,152,209

X-17 Accounts payable and accrued expensesStart of year $326$24,366

X-25 Other liabilitiesStart of year $92,881$91,611

X-26 Total liabilitiesStart of year $93,207$115,977

X-27 Net assets without donor restrictionsStart of year $76,899,353$82,664,122

X-28 Net assets with donor restrictionsStart of year $1,311,571$1,372,110

X-32 Total net assets or fund balancesStart of year $78,210,924$84,036,232

X-33 Total liabilities and net assetsStart of year $78,304,131$84,152,209

Part XI · Reconciliation of net assets $84,036,232 net assets at year end

XI-1 Total revenue$10,806,039

XI-2 Total expenses$11,232,653

XI-3 Revenue less expenses−$426,614

XI-4 Net assets at start of year$78,210,924

XI-5 Net unrealized gains (losses) on investments$6,240,959

XI-9 Other changes in net assets$10,963

XI-10 Net assets at end of year$84,036,232

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

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Comerica Charitable Trust FY2024 filing

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