Gray Reed Foundation

Nonprofit profile at a glance

EIN
862729435
IRS 990-EZ coverage
2022–2024
Forms available
Form 990-EZ 2024
Location
Dallas, TX, USA
Phone
7139867000
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$33,075
Expenses
$21,197
Assets
$219,026
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • MARK GARGIULO (PRESIDENT/TREASURER)
  • MICHAEL BLACHLY (VICE PRESIDENT/ASST. SECRETARY)

People named in this filing

  • MARK GARGIULO (PRESIDENT/TREASURER)
  • DARRELL ARMER (SECRETARY)
  • JAMES GARY GRAY (CHAIRMAN)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote community involvement and philanthropy by supporting charitable organizations where the gray reed team invests their own money and time.

What it reported doing in 2024

The gray reed foundation fosters philanthropy and community engagement by supporting IRS-recognized 501(c)(3) charitable organizations through a matching contribution program. Each attorney or staff member may request up to $2,000 annually in matching gifts, subject to review and approval by the foundation's directors via a match request form. Ineligible organizations include political entities, religious organizations (unless meeting specific secular access criteria), educational institutions without scholarships/endowments, donor-advised funds, private foundations, and organizations violating gray reed's non-discrimination policy or us anti-terrorism laws. The foundation also accepts tax-deductible gifts from employees, partners, clients, and other donors, with major gifts requiring prior approval.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 100
  • Sustainability: 82
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.8%; rating input score 92
  • Program expense ratio: 92.1%; rating input score 92

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 35.9%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 10.33; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -19.7% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 49th percentile among comparable filings
  • Asset growth: 22.1% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 91.8% of revenue deployed · 92.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $20K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.