Davis Educational Foundation
- Assets
- $118.3m
- Revenue
- $3.6m
- Investments
- $44.4m
- Employees
- 5
- Location
- Yarmouth, ME
- Founding
- 07/1985
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Davis Educational Foundation generated $3.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $3.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Davis Educational Foundation has awarded 336 individual grants totaling $35,986,490. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
AWARD GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 | $138,610 | |
Yvonne B Mumme Chief Finance & Admin. Officer | Officer | 36 | $129,810 |
Edward Mackay Chair | OfficerTrustee | 12 | $40,000 |
Sister M Therese Antone Trustee | Trustee | 8 | $25,000 |
Dennis Berkey Trustee | Trustee | 8 | $25,000 |
Richard Freeland Trustee | Trustee | 8 | $25,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz & Associates Investment Consulting | 12/30/22 | $102,149 |
Wellington Management Company Investment Management | 12/30/22 | $163,137 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,027,820 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,308,089 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,596,754 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,161,831 |
| 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. | $287,240 |
| Compensation of current officers, directors, key employees. | $171,753 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $318,755 |
| Pension plan accruals and contributions | $15,094 |
| Other employee benefits | $40,390 |
| Payroll taxes | $32,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,090 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $339,407 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,863 |
| Information technology | $13,226 |
| Royalties | $0 |
| Occupancy | $20,636 |
| Travel | $3,121 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,099 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,553 |
| All other expenses | $0 |
| Total functional expenses | $3,273,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $622,639 |
| Savings and temporary cash investments | $0 |
| 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 | $73,199,978 |
| Investments—other securities | $44,445,289 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,901 |
| Total assets | $118,326,807 |
| Accounts payable and accrued expenses | $62,029 |
| Grants payable | $1,579,916 |
| 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 | $44,180 |
| Total liabilities | $1,686,125 |
| Net assets without donor restrictions | $116,640,682 |
| 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 | $118,326,807 |
Grants Awarded
Over the last fiscal year, Davis Educational Foundation has awarded $2,159,831 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHERN NEW HAMPSHIRE UNIVERSITY PURPOSE: The First Gen Academy | $352,000 |
UNIVERSITY OF MAINE SYSTEM INCUNIVERSITY OF MAINE PURPOSE: Strengthening the Culture of General Education Assessment | $75,998 |
CHAMPLAIN COLLEGE INC PURPOSE: Embedding the College Competencies | $281,704 |
VERMONT STATE UNIVERSITY PURPOSE: Prioritizing Access Through 'Face-to-Face Plus' Expansion and OER Adoption | $216,261 |
LASELL UNIVERSITY PURPOSE: Thriving Through Transitions | $25,000 |
TRUSTEES OF TUFTS COLLEGE PURPOSE: Human Touch: Developing a More Resilient Educational Paradigm in the Age of Artificial Intelligence (AI) and Rapid Change | $23,700 |