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← DD AND VELMA DAVIS FAMILY FOUNDATION INC

Form 990 for tax year 2022

Filed by DD AND VELMA DAVIS FAMILY FOUNDATION INC.

Totals

Total revenue
$961,887
Total expenses
$895,834
Contributions and grants received
$0
Grants paid
$500,000
Program service revenue
$0
Investment income
$961,844
Other revenue
$43
Total assets, end of year
$37,989,678
Total liabilities, end of year
$264,000
Net assets or fund balances, end of year
$37,725,678
Program services expenses (Part IX)
$500,000
Management and general expenses
$395,834
Fundraising expenses
$0
Program service expenses (Part III)
$500,000

Program services were 55.8% 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.

  • 3 · Investment income

    total -$218,049 · unrelated business -$869,746 · excluded $651,697

  • 7a · Gross sales of assets other than inventory

    securities $13,189,400

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

    securities $12,009,507

  • 7c · Gain or loss

    securities $1,179,893

  • 7d · Net gain or loss

    total $1,179,893 · excluded $1,179,893

  • 11a · Other revenue: MISC INCOME

    total $43 · related or exempt $43

  • 11e · Other revenue, total

    $43

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $500,000 · program services $500,000

  • 5 · Compensation of officers, directors and key employees

    total $15,000 · management and general $15,000

  • 11a · Fees: management

    total $269,000 · management and general $269,000

  • 11b · Fees: legal

    total $1,320 · management and general $1,320

  • 11c · Fees: accounting

    total $7,260 · management and general $7,260

  • 11f · Fees: investment management

    total $75,064 · management and general $75,064

  • 11g · Fees: other

    total $10,000 · management and general $10,000

  • 17 · Travel

    total $15,564 · management and general $15,564

  • 19 · Conferences, conventions and meetings

    total $1,940 · management and general $1,940

  • 24a · Other expenses: TAXES, LICENSES, PERMIT

    total $686 · management and general $686

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $67,272 · end of year $24,304

  • 2 · Savings and temporary cash investments

    beginning of year $742,685 · end of year $703,158

  • 4 · Accounts receivable

    beginning of year $4,660 · end of year $772

  • 7 · Other notes and loans receivable

    beginning of year $850,000 · end of year $850,000

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $17,051,914 · end of year $11,127,952

  • 12 · Investments: other securities

    beginning of year $22,607,158 · end of year $25,283,492

  • 25 · Other liabilities

    beginning of year $75,000 · end of year $264,000

  • 27 · Net assets without donor restrictions

    beginning of year $41,248,689 · end of year $37,725,678

Mission and programs · 2022

Mission

PROVIDE FUNDING AND SUPPORT TO CHARITIES IN FULFILLMENT OF THE EXEMPT PURPOSES OF SERVANT FOUNDATION D/B/A THE SIGNATRY.

Activities or mission (Part I)

SUPPORT OF COMMUNITY DEVELOPMENT CHARITIES AND RELIGIOUS MINISTRIES

  • PROVIDE FUNDING AND SUPPORT TO CHARITIES IN FULFILLMENT OF THE EXEMPT PURPOSES OF THE SUPPORTED ORGANIZATION.

    Expenses $500,000 · Grants $500,000

As filed on the 2022 return.

Listed in Part VII

  • Beverly D Davis

    PRESIDENT/DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joanna Roxanne Randolph

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • William High

    DIRECTOR

    Total calculated
    $334,395
    From this org
    $0
    From related orgs
    $305,458
    Other
    $28,937
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,458 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,438 related
    Nontaxable benefits
    $0 + $18,499 related
    Filer's total
    $0 + $334,395 related

  • Kim Harris

    SECRETARY

    Total calculated
    $91,101
    From this org
    $0
    From related orgs
    $62,734
    Other
    $28,367
    Hours/week
    1 + 40 related

  • Mark Klinger

    TREASURER

    Total calculated
    $244,290
    From this org
    $0
    From related orgs
    $223,635
    Other
    $20,655
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,635 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,167 related
    Nontaxable benefits
    $0 + $12,488 related
    Filer's total
    $0 + $244,290 related

  • Dana Nielsen

    VICE PRESIDENT

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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 INDIVIDUALS LISTED IN SCHEDULE J, PART II ARE PAID BY THE RELATED ORGANIZATION THAT UTILIZES A COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEYS, AND BOARD APPROVAL IN THE PROCESS OF COMPENSATION DETERMINATION.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • DAVIS HOUSTON LAKESIDE RESORT PROJECT

    HOLDS INV REAL ESTATE · SC · income -$840,901 · assets $2,623,290

    Directly controlled by DD AND VELMA DAVIS FAMILY FDN INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HIGHROADS MEMBERS RESORT LLC

    UNRELATED · RESORT OWNERSHIP · DE · 53.69% owned · share of income -$840,901 · share of assets $2,623,290

    Directly controlled by DAVIS HOUSTON LAKESIDE RESORT PROJECT LLC

  • GIVE INTERACTIVE

    SOFTWARE DEVELOPMENT · DE

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333199349304838

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