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Nonprofiteer
← DONORS TRUST INC

Form 990 for tax year 2022

Filed by DONORS TRUST INC.

Totals

Total revenue
$323,050,038
Total expenses
$248,109,953
Contributions and grants received
$303,257,214
Grants paid
$242,230,612
Program service revenue
$0
Investment income
$19,787,816
Other revenue
$5,008
Total assets, end of year
$1,387,471,760
Total liabilities, end of year
$1,930,558
Net assets or fund balances, end of year
$1,385,541,202
Program services expenses (Part IX)
$244,193,871
Management and general expenses
$2,239,622
Fundraising expenses
$1,676,460
Program service expenses (Part III)
$244,193,871

Program services were 98.4% 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.

  • 1d · Related organizations

    $1,318,167

  • 1f · All other contributions, gifts and grants

    $301,939,047

  • 1g · Noncash contributions included above

    $60,575,751

  • 3 · Investment income

    total $27,628,268 · excluded $27,628,268

  • 7a · Gross sales of assets other than inventory

    securities $551,928,697

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

    securities $559,769,149

  • 7c · Gain or loss

    securities -$7,840,452

  • 7d · Net gain or loss

    total -$7,840,452 · excluded -$7,840,452

  • 11a · Other revenue: Other revenue

    total $5,008 · related or exempt $5,008

  • 11e · Other revenue, total

    $5,008

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $241,763,099 · program services $241,763,099

  • 3 · Grants to foreign organizations and individuals

    total $467,513 · program services $467,513

  • 5 · Compensation of officers, directors and key employees

    total $1,190,749 · program services $542,579 · management and general $243,438 · fundraising $404,732

  • 7 · Other salaries and wages

    total $1,036,647 · program services $472,360 · management and general $211,934 · fundraising $352,353

  • 8 · Pension plan contributions

    total $117,138 · program services $53,376 · management and general $23,948 · fundraising $39,814

  • 9 · Other employee benefits

    total $111,733 · program services $50,912 · management and general $22,843 · fundraising $37,978

  • 10 · Payroll taxes

    total $124,585 · program services $56,769 · management and general $25,470 · fundraising $42,346

  • 11b · Fees: legal

    total $23,084 · program services $18,416 · management and general $391 · fundraising $4,277

  • 11c · Fees: accounting

    total $38,536 · management and general $38,536

  • 11f · Fees: investment management

    total $1,487,068 · management and general $1,487,068

  • 11g · Fees: other

    total $384,595 · program services $306,830 · management and general $6,507 · fundraising $71,258

  • 12 · Advertising and promotion

    total $215,992 · fundraising $215,992

  • 13 · Office expenses

    total $160,763 · program services $74,417 · management and general $15,821 · fundraising $70,525

  • 14 · Information technology

    total $191,588 · program services $95,794 · fundraising $95,794

  • 16 · Occupancy

    total $285,646 · program services $130,158 · management and general $58,398 · fundraising $97,090

  • 17 · Travel

    total $398,040 · program services $128,683 · management and general $57,736 · fundraising $211,621

  • 22 · Depreciation, depletion and amortization

    total $35,805 · program services $16,315 · management and general $7,320 · fundraising $12,170

  • 23 · Insurance

    total $21,988 · program services $10,019 · management and general $4,495 · fundraising $7,474

  • 24a · Other expenses: Compliance fees

    total $40,835 · management and general $32,745 · fundraising $8,090

  • 24b · Other expenses: Subscriptions and dues

    total $14,549 · program services $6,631 · management and general $2,972 · fundraising $4,946

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $303,664,289 · end of year $234,362,155

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

    $390,359

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

    $211,426

  • 10c · Land, buildings and equipment, net

    beginning of year $175,721 · end of year $178,933

  • 11 · Investments: publicly traded securities

    beginning of year $692,931,810 · end of year $761,572,146

  • 12 · Investments: other securities

    beginning of year $507,961,771 · end of year $389,350,516

  • 15 · Other assets

    beginning of year $170,060 · end of year $2,008,010

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,905 · end of year $70,297

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,860,261

  • 27 · Net assets without donor restrictions

    beginning of year $1,504,877,746 · end of year $1,385,541,202

Mission and programs · 2022

Mission

Support charities & sponsor programs which alleviate, through education, research & private initiatives, society's most pervasive and radical needs, including those relating to social welfare, health, environment, economics, foreign relations, arts and culture. Encourage private philanthropy and individual giving as opposed to governmental solutions to society's problems.

Activities or mission (Part I)

Support charities & sponsor programs that promote liberty- See Part III

  • DAF Program: A Donor Advised Fund (DAF) program allowing DAF contributors to advise grants that support charities which alleviate, through education, research and private initiatives, society's most pervasive and radical needs, including those relating to social welfare, health, environment, economics, governance, foreign relations and arts and culture; and which encourage private philanthropy and individual giving and responsibility as an answer to society's needs, as opposed to governmental involvement.

    Expenses $242,698,990 · Grants $240,965,472 · Revenue $5,008

  • Fiscal Sponsorship Program: Donors Trust serves as an incubator for organizations with missions that align with that of Donors Trust and that are in the process of applying for tax-exempt status, thereby allowing these start-up organizations a chance to begin operations while waiting for formal recognition of their non-profit status.

    Expenses $542,130 · Grants $533,229

  • Grants to Foreign NGOs: Donors Trust initiated a program to make grants to foreign NGOs for which Donors Trust receives an equivalency determination that finds had the foreign organization been (1) a U.S. based organization and (2) applied for tax-exempt status the NGO would have received recognition as a 501(c)(3) publicly supported charity.

    Expenses $467,513 · Grants $467,513

  • Board of Director Grants: The board of directors make annual grants from the board's discretionary funds to organizations that fall within DonorsTrust's mission.

    Expenses $264,398 · Grants $264,398

  • Health Policy Research: The Galen Institute at Donors project was created in 2022 for the purpose of advancing market-based health policy.

    Expenses $220,840

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lawson R Bader

    President and CEO

    Total calculated
    $447,243
    From this org
    $387,750
    From related orgs
    $0
    Other
    $59,493
    Hours/week
    42 + 3 related

    Schedule J breakdown matched by us

    Base
    $364,000
    Bonus
    $23,750
    Other
    $0
    Deferred
    $47,700
    Nontaxable benefits
    $11,793
    Filer's total
    $447,243

  • Kimberly O Dennis

    Chair

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • James Piereson

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Thomas E Beach

    Director

    Total calculated
    $0
    Hours/week
    1

  • George G H Coates Jr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey C Zysik

    CFO, COO and Treasurer

    Total calculated
    $366,152
    From this org
    $295,150
    From related orgs
    $0
    Other
    $71,002
    Hours/week
    42 + 3 related

    Schedule J breakdown matched by us

    Base
    $283,900
    Bonus
    $11,250
    Other
    $0
    Deferred
    $44,273
    Nontaxable benefits
    $26,729
    Filer's total
    $366,152

  • Peter A Lipsett

    Vice President/ Secretary

    Total calculated
    $264,258
    From this org
    $228,500
    From related orgs
    $0
    Other
    $35,758
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $218,500
    Bonus
    $10,000
    Other
    $0
    Deferred
    $34,275
    Nontaxable benefits
    $1,483
    Filer's total
    $264,258

  • Stephen M Johnson

    CTO

    Total calculated
    $112,997
    From this org
    $108,000
    From related orgs
    $0
    Other
    $4,997
    Hours/week
    45

  • Gregory P Conko

    Vice President of Programs

    Total calculated
    $255,531
    From this org
    $203,500
    From related orgs
    $0
    Other
    $52,031
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,500
    Bonus
    $2,000
    Other
    $0
    Deferred
    $30,330
    Nontaxable benefits
    $21,701
    Filer's total
    $255,531

  • Lukas C Dwelly

    Philanthropic Advisor

    Total calculated
    $111,565
    From this org
    $105,625
    From related orgs
    $0
    Other
    $5,940
    Hours/week
    40

  • Stephanie L Giovanetti

    Philanthropic Advisor

    Total calculated
    $170,013
    From this org
    $148,000
    From related orgs
    $0
    Other
    $22,013
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,000
    Bonus
    $3,000
    Other
    $0
    Deferred
    $22,013
    Nontaxable benefits
    $0
    Filer's total
    $170,013

  • Christopher D Renner

    Controller

    Total calculated
    $194,958
    From this org
    $154,150
    From related orgs
    $0
    Other
    $40,808
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,900
    Bonus
    $3,250
    Other
    $0
    Deferred
    $23,123
    Nontaxable benefits
    $17,685
    Filer's total
    $194,958

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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

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 1a
Officers are allowed to pay reasonable upgrade fees to first class at the time tickets are purchased if that option is offered by the airline for a discounted first class fare. Officers may also upgrade to first class after the purchase of a ticket if the upgrade fee is reasonable. The organization does not pay for full fare full fare first class tickets.

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.

  • Donors Capital Fund Inc

    501(c)(3) · Grant making organization · MD

  • Project Liberty Inc

    501(c)(3) · Direct charitable program activity · DE

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.

  • Donors Trust LLC

    Inactive · MD · income $0 · assets $0

    Directly controlled by Donors Trust Inc

  • Talent Market LLC

    Inactive, holding cash to be granted · MD · income $0 · assets $992,994

    Directly controlled by Donors Trust Inc

  • DT Investments I LLC

    Hold investment property · DE · income $0 · assets $934,950

    Directly controlled by Donors Trust Inc

  • Galen Institute at Donors LLC

    Charitable program activity · VA · income $3,173 · assets $1,270,901

    Directly controlled by Donors Trust Inc

Provenance

Return type
form_990
Tax year
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202323049349300742

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

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