W L Gilbert Trust Corporation

Analysis

W L Gilbert Trust Corporation is a registered charity in United States, based in Winsted, CT. It received its IRS tax-exemption ruling in October 1931, 95 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, W L Gilbert Trust Corporation reported income of $821k and spending of $1.5m, spending 183% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.8m to $821k (-70%), an average of -26% a year. The sharpest change came in the year to June 2023, when income dropped by 52%. Over the whole period it spent 119% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, W L Gilbert Trust Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($820k), Central Minnesota Sexual Assault Center ($821k) and Nashville Area Iron Workers Joint Apprenticeship Committee ($820k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $140k (9.3% of expenses). Other salaries and wages came to $249k. At year end it held assets of $7.5m against liabilities of $2.9m, net assets of $4.6m. It reported 25 employees.