Davis Educational Foundation
- Assets
- $128.3m
- Revenue
- $9.1m
- Investments
- $41.9m
- Employees
- 5
- Location
- Yarmouth, ME
- Founding
- 07/1985
- Data as of
- 12/2021
- EIN
- 04-2864042
Organization Overview
Davis Educational Foundation is located in Yarmouth, ME. The organization was established in 1985. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2021, Davis Educational Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Davis Educational Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Davis Educational Foundation generated $9.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $5.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Davis Educational Foundation has awarded 297 individual grants totaling $29,886,963. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AWARDS GRANTS
Describe the Organization's Program Activity:
GRANTS MADE TO COLLEGES AND UNIVERSITIES IN NEW ENGLAND FROM ORGANIZATION ASSETS, INCLUDING DIRECT INVESTMENT RELATED COSTS. SEE SCHEDULE I FOR GRANTS APPROVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leanne Greeley Bond Director Of Grants & Programs | 40 | $127,057 | |
Yvonne B Mumme Chief Finance & Admin. Officer | Officer | 16 | $126,610 |
Edward Mackay Chairman | OfficerTrustee | 12 | $40,000 |
Richard Freeland Trustee | Trustee | 8 | $25,000 |
Sister M Therese Antone Trustee | Trustee | 8 | $25,000 |
Richard W Cost Trustee | Trustee | 8 | $25,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wellington Management Company Investment Management | 12/30/21 | $164,570 |
Sanderson Asset Management Inc Investment Management | 12/30/21 | $123,113 |
Prime Buhholz & Associates Investment Consulting | 12/30/21 | $101,116 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Total Program Service Revenue | $0 |
| Investment income | $729,447 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,152,259 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,135,716 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,167,298 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $280,830 |
| Compensation of current officers, directors, key employees. | $161,830 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,661 |
| Pension plan accruals and contributions | $13,700 |
| Other employee benefits | $28,217 |
| Payroll taxes | $31,061 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $522,271 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,265 |
| Information technology | $20,991 |
| Royalties | $0 |
| Occupancy | $18,119 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,037 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,672 |
| All other expenses | $0 |
| Total functional expenses | $5,401,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,358,746 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $80,998,223 |
| Investments—other securities | $41,897,114 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,007 |
| Total assets | $128,309,090 |
| Accounts payable and accrued expenses | $83,040 |
| Grants payable | $2,464,312 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $50,459 |
| Total liabilities | $2,597,811 |
| Net assets without donor restrictions | $125,711,279 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $128,309,090 |
Grants Awarded
Over the last fiscal year, Davis Educational Foundation has awarded $4,167,298 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: Open Educational Resources as the Means to Enhance Integrative Learning | $372,757 |
Bennington, VT PURPOSE: Restructuring Academic Leadership to Strengthen the Student Experience | $300,000 |
Cambridge, MA PURPOSE: Climate, Environment, and Sustainability Infusion Fellowship (CESIF): Strengthening Teaching and Learning Through Interdisciplinary Partnerships at MIT | $300,000 |
Newton, MA PURPOSE: Career Readiness Through Connected Learning | $282,345 |
VERMONT STATE COLLEGES SYSTEM PURPOSE: Creating a Strong Foundation for Academic Programs Optimization | $281,000 |
Boston, MA PURPOSE: Improving Student Support Through Experimentation with Student Engagement | $249,998 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Davis Educational Foundation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Ninigret Foundation Inc Salt Lake City, UT PURPOSE: LEARNING THROUGH MUSIC, FILM & ART | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Davis Educational Foundation Yarmouth, ME | $128,309,090 | $9,135,716 |
The Foundation For Maine Community Colleges South Portland, ME | $20,354,624 | $16,834,487 |
New Hampshire Womens Foundation Concord, NH | $2,010,896 | $584,227 |
Duncan-Jenkins Tr Henniker, NH | $9,421,570 | $1,619,289 |
Olin J Cochran Tr Uw Bedford, NH | $4,499,075 | $1,000,465 |
Dr A Everett And Ruth E Rosen Foundation Inc Dayton, ME | $2,548,926 | $256,769 |
Friends Of The Portland Community Free Clinic South Portland, ME | $300,192 | $165,835 |
Hope For Nica Corporation New Ipswich, NH | $7,836 | $0 |
Bangor Christian Schools Foundation Bangor, ME | $603,814 | $151,636 |
Lily Sarah Grace Fund Inc Portland, ME | $746,937 | $0 |
Cape Elizabeth Education Foundation Cape Elizabeth, ME | $883,307 | $90,846 |
Boothbay Region Education Foundation Boothbay Harbor, ME | $104,551 | $76,260 |