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Nonprofiteer
← DAVIS FAMILY FOUNDATION

Form 990 for tax year 2023

Filed by DAVIS FAMILY FOUNDATION.

Totals

Total revenue
$3,243,299
Total expenses
$2,432,775
Contributions and grants received
$0
Grants paid
$2,015,188
Program service revenue
$0
Investment income
$3,234,681
Other revenue
$8,618
Total assets, end of year
$89,607,909
Total liabilities, end of year
$132,909
Net assets or fund balances, end of year
$89,475,000
Program services expenses (Part IX)
$2,167,856
Management and general expenses
$264,919
Fundraising expenses
$0
Program service expenses (Part III)
$2,167,856

Program services were 89.1% 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 $985,190 · related or exempt $0 · unrelated business $0 · excluded $985,190

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $11,856,719 · other assets $0

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

    securities $9,607,228 · other assets $0

  • 7c · Gain or loss

    securities $2,249,491 · other assets $0

  • 7d · Net gain or loss

    total $2,249,491 · related or exempt $0 · unrelated business $0 · excluded $2,249,491

  • 11a · Other revenue: Prior period grant recovery

    total $8,618 · related or exempt $8,618 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $8,618

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,015,188 · program services $2,015,188

  • 5 · Compensation of officers, directors and key employees

    total $98,442 · program services $33,844 · management and general $64,598

  • 11a · Fees: management

    total $93,687 · program services $83,405 · management and general $10,282

  • 11b · Fees: legal

    total $4,800 · program services $2,400 · management and general $2,400

  • 11c · Fees: accounting

    total $10,450 · management and general $10,450

  • 11f · Fees: investment management

    total $163,223 · management and general $163,223

  • 13 · Office expenses

    total $3,725 · program services $1,501 · management and general $2,224

  • 14 · Information technology

    total $13,440 · program services $11,817 · management and general $1,623

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $20,191 · program services $13,528 · management and general $6,663

  • 17 · Travel

    total $109 · program services $103 · management and general $6

  • 19 · Conferences, conventions and meetings

    total $1,508 · program services $1,370 · management and general $138

  • 23 · Insurance

    total $2,208 · program services $1,194 · management and general $1,014

  • 24a · Other expenses: Dues

    total $4,958 · program services $3,322 · management and general $1,636 · fundraising $0

  • 24b · Other expenses: Miscellaneous

    total $846 · program services $184 · management and general $662 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $63,702 · end of year $30,036

  • 2 · Savings and temporary cash investments

    beginning of year $1,853,240 · end of year $634,414

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,507 · end of year $2,633

  • 11 · Investments: publicly traded securities

    beginning of year $56,064,384 · end of year $65,088,851

  • 12 · Investments: other securities

    beginning of year $18,609,902 · end of year $23,566,481

  • 14 · Intangible assets

    beginning of year $102,460 · end of year $72,775

  • 15 · Other assets

    beginning of year $151,838 · end of year $212,719

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,942 · end of year $56,557

  • 25 · Other liabilities

    beginning of year $106,482 · end of year $76,352

  • 27 · Net assets without donor restrictions

    beginning of year $76,699,609 · end of year $89,475,000

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

To provide grants to colleges, universities, and other educational institutions; to hospitals and other health organizations with a primary interest in programs designed to increase the effectiveness or decrease the cost of medical care; and organizations whose customary and primary activity is to promote music, theater, drama, history, literature, the arts or similar cultural activities.

Activities or mission (Part I)

Award Grants

  • Grants allocated in support of 501(c)(3) & governmental organizations. See Schedule I for grants approved.

    Expenses $2,167,856 · Grants $2,015,188 · Revenue $8,618

As filed on the 2023 return.

Listed in Part VII

  • Yvonne B Mumme

    Chief Finance and Administrative Officer

    Total calculated
    $65,257
    From this org
    $56,560
    From related orgs
    $0
    Other
    $8,697
    Hours/week
    15.3

    Schedule J breakdown matched by us

    Base
    $56,560
    Bonus
    $0
    Other
    $0
    Deferred
    $3,961
    Nontaxable benefits
    $4,736
    Filer's total
    $65,257

  • Michael R Currie

    Trustee

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Anne B Pringle

    Trustee

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Samuel M DiCapua

    Trustee

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Edward L Dilworth III

    Trustee

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Al Noyes

    Trustee

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Rebekah A Bucci

    Chair

    Total calculated
    $0
    Hours/week
    3.5

  • David J Bucci

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Colleen Bucci Liddy

    Trustee

    Total calculated
    $0
    Hours/week
    2

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)

Schedule J, Part I
See Form 990 Part VII, Line 5: Yvonne Mumme, Chief Finance and Administrative Officer for the Organization, receives compensation from Davis Educational Foundation, an unrelated organization, for services rendered to the filing organization. Yvonne's unrelated organization compensation was as follows: Salary - $56,560 and Benefits $4,736. These amounts are included in the amounts listed on Part II. A retirement contribution of $3,961 was paid by the Organization.

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
2023
Filed
22 October 2024
IRS schema version
2023v5.0
Source object
202422979349300807

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

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