Irene E And George A Davis Foundation
- Assets
- $74.8m
- Revenue
- $13.1m
- Investments
- $60.0m
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 08/2017
- Data as of
- 12/2020
- 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 12/2020, Irene E And George A Davis Foundation generated $13.1m in total revenue. All expenses for the organization totaled $6.8m during the year ending 12/2020.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Belsito Exec Dir | 40 | $197,500 | |
Magnus Monroe Grants Manager | 40 | $85,000 | |
Mary Walachy Phil Lead 5/20-1/21 | 40 | $10,000 | |
John H Davis Pres/dir | 0 | $0 | |
Stephen A Davis Vp/treas/dir | 0 | $0 | |
Laurel D Ferretti Director | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nashton Search | 12/30/21 | $100,000 |
Eagle Capital Management Llc | 12/30/21 | $136,752 |
Schwerin Boyle Capital Management | 12/30/21 | $233,099 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $474,959 |
| Interest on Savings | $0 |
| Dividends & Interest | $450,108 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $12,142,734 |
| Capital Gain Net Income | $8,859,927 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $13,067,801 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $352,956 |
| Pension plans, employee benefits | $25,118 |
| Interest | $0 |
| Taxes | $70,491 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $17,138 |
| Printing and publications | $0 |
| Other expenses | $78,506 |
| Total operating and administrative expenses | $935,216 |
| Contributions, gifts, grants paid | $5,907,428 |
| Total expenses and disbursements | $6,842,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,761,072 |
| 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 | $41,173,308 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $74,799,666 |
| 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 | $2,681 |
| Total liabilities | $2,681 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
Robert W Wilson Charitable Tr New York, NY | $246,803,641 | $15,248,568 |
The Zegar Family Foundation New York, NY | $255,794,688 | $35,430,517 |
The Blackrock Charitable Foundation New York, NY | $304,949,202 | $10,722,340 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Zankel Fund New York, NY | $8,426,526 | $6,600,017 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Estee Lauder Companies Charitable Foundation New York, NY | $35,974,866 | $21,957,506 |
Theodore J Forstmann Charitable Trust New York, NY | $79,816,371 | $674,210 |
The Carol A Ammon Foundation Albany, NY | $10,088,469 | $6,097,174 |