Irene E And George A Davis Foundation
- Assets
- $77.5m
- Revenue
- $10.7m
- Investments
- $71.9m
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 61-1816364
Organization Overview
Irene E And George A Davis Foundation is located in Springfield, MA. The organization was established in 2017. 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. Irene E And George A Davis 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 12/2022, Irene E And George A Davis Foundation generated $10.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 29.2% each year . All expenses for the organization totaled $8.4m during the year ending 12/2022. While expenses have increased by 4.4% per year over the past 4 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John H Davis Director | 0 | $0 | |
Stephen A Davis Vp/treas/dir | 0 | $0 | |
Jane E Davis-Kusek Vp/sec/dir | 0 | $0 | |
Laurel D Ferretti Pres/dir | 0 | $0 | |
Andrew M Davis Director | 0 | $0 | |
Meredith Kent Grants Manager | 40 | $51,300 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schwerin Boyle Capital Management | 12/30/22 | $238,897 |
Nashton Search | 12/30/22 | $175,000 |
Eagle Capital Management Llc | 12/30/22 | $127,902 |
Sharp Lehman Consulting Llc | 12/30/22 | $64,290 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $9,577,764 |
| Interest on Savings | $0 |
| Dividends & Interest | $599,953 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $461,946 |
| Capital Gain Net Income | $1,104,137 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $47,500 |
| Total Revenue | $10,687,163 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $329,180 |
| Pension plans, employee benefits | $59,363 |
| Interest | $0 |
| Taxes | $121,222 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $16,901 |
| Printing and publications | $0 |
| Other expenses | $94,900 |
| Total operating and administrative expenses | $1,415,133 |
| Contributions, gifts, grants paid | $6,940,400 |
| Total expenses and disbursements | $8,355,533 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,609,077 |
| Net Accounts receivable | $0 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $13,015 |
| Investments—mortgage loans | $0 |
| Investments—other | $47,232,792 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $77,539,879 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |