Davis Love Iii Foundation
- Assets
- $5.2m
- Revenue
- $11.0m
- Investments
- $1.7m
- Employees
- 0
- Location
- St Simons Island, GA
- Founding
- 09/2005
- Data as of
- 12/2021
- EIN
- 20-2920597
Organization Overview
Davis Love Iii Foundation is located in St Simons Island, GA. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Davis Love Iii 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 Love Iii Foundation generated $11.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $10.5m during the year ending 12/2021. While expenses have increased by 2.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Davis Love Iii Foundation has awarded 493 individual grants totaling $8,230,620. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd G Thompson Tournament Directr | 40 | $182,800 | |
John W Mckenzie Marketing Director | 40 | $107,558 | |
Christian E Freeman Tournament Op | 40 | $70,147 | |
Jamie Bohler Business Operation | 40 | $68,981 | |
Alexia L Whatley Office Manager | 40 | $62,155 | |
Davis M Love III Director | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tony Schuster Company Llc | 12/30/21 | $89,000 |
Guardian Security Consultants | 12/30/21 | $78,515 |
Trotland Group Llc | 12/30/21 | $38,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $506,710 |
| Interest on Savings | $17,717 |
| Dividends & Interest | $28,320 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $124,155 |
| Capital Gain Net Income | $124,155 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,315,423 |
| Total Revenue | $10,992,325 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $545,825 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $55,541 |
| Depreciation | $9,450 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $11,009 |
| Printing and publications | $0 |
| Other expenses | $8,953,699 |
| Total operating and administrative expenses | $9,600,783 |
| Contributions, gifts, grants paid | $879,760 |
| Total expenses and disbursements | $10,480,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $613,404 |
| Savings and temporary cash investments | $2,258,444 |
| Net Accounts receivable | $602,421 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,669 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $84,721 |
| Other assets | $0 |
| Total assets | $5,238,841 |
| Accounts payable and accrued expenses | $1,671,962 |
| Grants payable | $0 |
| Deferred revenue | $35,500 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $12,855 |
| Total liabilities | $1,720,317 |
Grants Awarded
Over the last fiscal year, Davis Love Iii Foundation has awarded $879,760 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
St Simons Island, GA PURPOSE: COMMUNITY ASSISTANCE | $115,000 |
Brunswick, GA PURPOSE: COMMUNITY ASSISTANCE | $92,943 |
Sun Valley, ID PURPOSE: COMMUNITY ASSISTANCE | $67,000 |
RONALD MCDONALD HOUSE OF THE COASTAL EMP PURPOSE: COMMUNITY ASSISTANCE | $64,644 |
Brunswick, GA PURPOSE: COMMUNITY ASSISTANCE | $58,228 |
FIRST TEE OF THE GOLDEN ISLES PURPOSE: COMMUNITY ASSISTANCE | $42,770 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Davis Love Iii Foundation has recieved totaling $346,000.
| Awarding Organization | Amount |
|---|---|
Pga Tour Inc Ponte Vedra Beach, FL PURPOSE: GENERAL SUPPORT | $175,000 |
Southeast Georgia Health System Inc Brunswick, GA PURPOSE: Primary Exempt Activity | $75,000 |
Wedge Foundation Inc Louisville, KY PURPOSE: FINANCIAL SUPPORT | $25,000 |
The@karl G Estes Foundation Jacksonville, FL PURPOSE: GENERAL DONATION | $22,000 |
Evander Lewis Family Foundation Memphis, TN PURPOSE: TO FURTHER THE CHARITY'S EXEMPT PURPOSE | $20,000 |
India Benton Lesser Foundation Sarasota, FL PURPOSE: GENERAL | $13,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Frederick A Deluca Foundation Inc Pompano Beach, FL | $724,648,898 | $109,039,821 |
Ted Arison Family Found Aventura, FL | $489,424,665 | $63,628,275 |
Arison Arts Foundation Coral Gables, FL | $423,071,215 | $88,937,143 |
Poses Family Foundation Miami Beach, FL | $501,022,398 | $55,408,716 |
Jim Moran Foundation Inc Deerfield Beach, FL | $191,270,194 | $47,763,594 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
Darla Moore And Richard Rainwater Foundation Lake City, SC | $538,432,800 | $34,322,461 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Kovner Foundation Jupiter, FL | $0 | $19,441,586 |
Naples Children And Education Naples, FL | $64,560,487 | $12,642,425 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |