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← FIFTH THIRD CHARITABLE GIFT FUND

Form 990 for tax year 2023

Filed by FIFTH THIRD CHARITABLE GIFT FUND.

Totals

Total revenue
$10,806,039
Total expenses
$11,232,653
Contributions and grants received
$6,313,837
Grants paid
$10,397,858
Program service revenue
$0
Investment income
$4,490,764
Other revenue
$1,438
Total assets, end of year
$84,152,209
Total liabilities, end of year
$115,977
Net assets or fund balances, end of year
$84,036,232
Program services expenses (Part IX)
$10,397,858
Management and general expenses
$834,795
Fundraising expenses
$0
Program service expenses (Part III)
$10,397,858

Program services were 92.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $6,313,837

  • 1g · Noncash contributions included above

    $2,535,347

  • 3 · Investment income

    total $2,359,981 · excluded $2,359,981

  • 7a · Gross sales of assets other than inventory

    securities $21,919,741

  • 7b · Less cost or other basis and sales expenses

    securities $19,788,958

  • 7c · Gain or loss

    securities $2,130,783

  • 7d · Net gain or loss

    total $2,130,783 · excluded $2,130,783

  • 11a · Other revenue: OTHER INCOME

    total $1,438 · excluded $1,438

  • 11e · Other revenue, total

    $1,438

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,397,858 · program services $10,397,858

  • 11b · Fees: legal

    total $5,526 · management and general $5,526

  • 11c · Fees: accounting

    total $84,301 · management and general $84,301

  • 11f · Fees: investment management

    total $546,166 · management and general $546,166

  • 14 · Information technology

    total $85,140 · management and general $85,140

  • 23 · Insurance

    total $100,000 · management and general $100,000

  • 24a · Other expenses: MISCELLANEOUS

    total $13,662 · management and general $13,662

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,114,154 · end of year $4,137,379

  • 4 · Accounts receivable

    beginning of year $118,372 · end of year $178,401

  • 9 · Prepaid expenses and deferred charges

    beginning of year $69,705 · end of year $77,179

  • 11 · Investments: publicly traded securities

    beginning of year $73,569,635 · end of year $79,300,231

  • 15 · Other assets

    beginning of year $432,265 · end of year $459,019

  • 17 · Accounts payable and accrued expenses

    beginning of year $326 · end of year $24,366

  • 25 · Other liabilities

    beginning of year $92,881 · end of year $91,611

  • 27 · Net assets without donor restrictions

    beginning of year $76,899,353 · end of year $82,664,122

  • 28 · Net assets with donor restrictions

    beginning of year $1,311,571 · end of year $1,372,110

Mission and programs · 2023

Mission

THE COMERICA CHARITABLE TRUST IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF RECEIVING AND ADMINISTERING FUNDS TO MAKE DISTRIBUTIONS TO ORGANIZATIONS WHICH QUALIFY AS EXEMPT ORGANIZATIONS UNDER INTERNAL REVENUE CODE 501(C)(3). THE ORGANIZATION ENABLES DONORS TO CREATE A CHARITABLE FUND THAT CAN EITHER BE A DONOR ADVISED FUND OR A DONOR DESIGNATED FUND. GIFTS OR GRANTS MADE TO OTHER CHARITIES, WHICH QUALIFY AS TAX-EXEMPT ORGANIZATIONS, ARE DISBURSED FROM EACH ACCOUNT BY ADVISEMENT FROM THE DONOR, DESIGNATION OF SPECIFIC CHARITIES SELECTED BY THE DONOR, OR AT THE ORGANIZATION'S DISCRETION FOR THOSE CONTRIBUTIONS OVER WHICH IT HAS RETAINED VARIANCE POWER.

Activities or mission (Part I)

TO RECEIVE AND ADMINISTER FUNDS FOR DISTRIBUTIONS TO QUALIFIED CHARITIES.

  • DISTRIBUTIONS TO QUALIFIED CHARITIES

    Expenses $10,397,858 · Grants $10,397,858

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Comerica Bank And Trust Na

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202541269349300849

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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