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Nonprofiteer
← DAVIS EDUCATIONAL FOUNDATION

Form 990 for tax year 2022

Filed by DAVIS EDUCATIONAL FOUNDATION.

Totals

Total revenue
$2,690,787
Total expenses
$4,986,116
Contributions and grants received
$0
Grants paid
$3,944,696
Program service revenue
$0
Investment income
$2,473,661
Other revenue
$217,126
Total assets, end of year
$103,795,591
Total liabilities, end of year
$2,126,626
Net assets or fund balances, end of year
$101,668,965
Program services expenses (Part IX)
$4,287,661
Management and general expenses
$698,455
Fundraising expenses
$0
Program service expenses (Part III)
$4,287,661

Program services were 86.0% 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 $992,353 · unrelated business $9,235 · excluded $983,118

  • 7a · Gross sales of assets other than inventory

    securities $8,347,319

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

    securities $6,866,011

  • 7c · Gain or loss

    securities $1,481,308

  • 7d · Net gain or loss

    total $1,481,308 · excluded $1,481,308

  • 11a · Other revenue: Management Fees

    total $187,064 · excluded $187,064

  • 11b · Other revenue: Returned Grants

    total $30,062 · related or exempt $30,062

  • 11e · Other revenue, total

    $217,126

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,944,696 · program services $3,944,696

  • 5 · Compensation of officers, directors and key employees

    total $282,988 · program services $115,472 · management and general $167,516

  • 7 · Other salaries and wages

    total $246,665 · program services $154,705 · management and general $91,960

  • 8 · Pension plan contributions

    total $9,753 · program services $9,422 · management and general $331

  • 9 · Other employee benefits

    total $28,578 · program services $11,202 · management and general $17,376

  • 10 · Payroll taxes

    total $29,409 · program services $11,864 · management and general $17,545

  • 11c · Fees: accounting

    total $19,694 · management and general $19,694

  • 11f · Fees: investment management

    total $366,525 · management and general $366,525

  • 13 · Office expenses

    total $11,710 · program services $7,995 · management and general $3,715

  • 14 · Information technology

    total $10,314 · program services $9,264 · management and general $1,050

  • 16 · Occupancy

    total $20,275 · program services $14,598 · management and general $5,677

  • 17 · Travel

    total $1,297 · program services $1,297

  • 19 · Conferences, conventions and meetings

    total $1,903 · program services $1,665 · management and general $238

  • 23 · Insurance

    total $2,441 · program services $1,430 · management and general $1,011

  • 24a · Other expenses: Dues

    total $5,279 · program services $3,893 · management and general $1,386

  • 24b · Other expenses: UBI Taxes

    total $2,803 · management and general $2,803

  • 24c · Other expenses: Miscellaneous

    total $1,786 · program services $158 · management and general $1,628

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,358,746 · end of year $431,035

  • 11 · Investments: publicly traded securities

    beginning of year $80,998,223 · end of year $68,489,271

  • 12 · Investments: other securities

    beginning of year $41,897,114 · end of year $34,827,793

  • 15 · Other assets

    beginning of year $55,007 · end of year $47,492

  • 17 · Accounts payable and accrued expenses

    beginning of year $83,040 · end of year $66,079

  • 18 · Grants payable

    beginning of year $2,464,312 · end of year $2,014,693

  • 25 · Other liabilities

    beginning of year $50,459 · end of year $45,854

  • 27 · Net assets without donor restrictions

    beginning of year $125,711,279 · end of year $101,668,965

Listed in Part VII

  • Edward MacKay

    Chairman

    Total calculated
    $40,000
    From this org
    $40,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Sister M Therese Antone

    Trustee

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Richard W Cost

    Trustee

    Total calculated
    $20,850
    From this org
    $20,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Peter K Davis

    Past Trustee

    Total calculated
    $0
    Hours/week
    8

  • Richard Freeland

    Trustee

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Judith B Wittenberg

    Trustee

    Total calculated
    $25,000
    From this org
    $25,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Yvonne B Mumme

    Chief Finance & Admin. Officer

    Total calculated
    $147,553
    From this org
    $130,357
    From related orgs
    $0
    Other
    $17,196
    Hours/week
    40

  • Leanne Greeley Bond

    Director of Grants & Programs

    Total calculated
    $154,546
    From this org
    $131,090
    From related orgs
    $0
    Other
    $23,456
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,316
    Bonus
    $0
    Other
    $774
    Deferred
    $9,385
    Nontaxable benefits
    $14,071
    Filer's total
    $154,546

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

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

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
17 October 2023
IRS schema version
2022v5.0
Source object
202332919349301853

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