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← EDWARD H DAVEIS BENEVOLENT FUND

Form 990 for tax year 2023

Filed by EDWARD H DAVEIS BENEVOLENT FUND.

Totals

Total revenue
$216,793
Total expenses
$154,679
Contributions and grants received
$0
Grants paid
$98,500
Program service revenue
$0
Investment income
$0
Other revenue
$216,793
Total assets, end of year
$2,397,058
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,397,058
Program services expenses (Part IX)
$98,653
Management and general expenses
$56,026
Fundraising expenses
$0
Program service expenses (Part III)
$98,653

Program services were 63.8% 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.

  • 11a · Other revenue: Share-MCF Invest. Inc.

    total $200,936 · excluded $200,936

  • 11b · Other revenue: Share-MCF Cap. Gains

    total $15,857 · excluded $15,857

  • 11e · Other revenue, total

    $216,793

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $98,500 · program services $98,500

  • 11a · Fees: management

    total $32,463 · management and general $32,463

  • 24a · Other expenses: Share-MCF Invest. Fees

    total $23,563 · management and general $23,563

  • 24b · Other expenses: Share-MCF Program Exp.

    total $153 · program services $153

Balance sheet

Part X, book values.

  • 12 · Investments: other securities

    beginning of year $2,252,826 · end of year $2,397,058

  • 27 · Net assets without donor restrictions

    beginning of year $2,252,826 · end of year $2,397,058

Mission and programs · 2023

Mission

Support the Maine Community Foundation (MCF) and its charitable and educational purposes.

  • The Edward H. Daveis Benevolent Fund benefits nonprofit organizations serving the greater Portland area. The Fund currently focuses grantmaking efforts on organizations in the geographic area that work with: (1) young children aged birth to eight, their families and teachers, and (2) youth leadership programs for students through high school. Collaboration between and among organizations is encouraged. Requests for discrete projects are preferred over those for general operations.

    Expenses $98,653 · Grants $98,500

As filed on the 2023 return.

Listed in Part VII

  • Erik C Jorgensen

    Trustee

    Total calculated
    $0
    Hours/week
    0.1

  • Nicole Witherbee

    Trustee

    Total calculated
    $0
    Hours/week
    0.1

  • Katharine Fullam Harris

    Chair/Trustee

    Total calculated
    $0
    Hours/week
    0.1

  • Deborah Ellwood

    MCF President & CEO

    Total calculated
    $333,856
    From this org
    $0
    From related orgs
    $303,244
    Other
    $30,612
    Hours/week
    0.1 + 50.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $293,501 related
    Bonus
    $0 + $6,000 related
    Other
    $0 + $3,743 related
    Deferred
    $0 + $26,598 related
    Nontaxable benefits
    $0 + $4,014 related
    Filer's total
    $0 + $333,856 related

  • Michele Camarco

    Treasurer/MCF CFO

    Total calculated
    $234,500
    From this org
    $0
    From related orgs
    $202,322
    Other
    $32,178
    Hours/week
    0.1 + 50.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,398 related
    Bonus
    $0 + $15,873 related
    Other
    $0 + $2,051 related
    Deferred
    $0 + $18,151 related
    Nontaxable benefits
    $0 + $14,027 related
    Filer's total
    $0 + $234,500 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3
The Edward H. Daveis Benevolent Fund does not have any employees. However, the Vice President/CFO of Maine Community Foundation (MCF), the supported organization, oversees the finances of the Edward H. Daveis Benevolent Fund, and the MCF President & CEO has been named as the Organization's Principal Officer. MCF uses a compensation committee, an independent compensation consultant, the Form 990 of other organizations, compensation surveys or studies, and approval by the board or a compensation committee to assist in establishing the compensation for this position.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Andrew Marshall Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

  • David K Silverman Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

  • Mary S Marshal Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

  • Rachel Samsel Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

  • Roger A Fessaguet 2013 Charitable Remainder Trust No 1

    T · Charitable Remainder Trust · ME

  • Roger A Fessaguet 2013 Charitable Remainder Trust No 2

    T · Charitable Remainder Trust · ME

  • Sedgwick Charitable Remainder Trust

    T · Charitable Remainder Trust · ME

  • Stanley N Marshall III Charitable Remainder Unitrust

    T · Charitable Remainder Trust · ME

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202423099349302982

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