Form990-PF
Click to see list of attachments

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
Democracy Fund Inc
 
Number and street (or P.O. box number if mail is not delivered to street address)1200 17th St NW
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Washington, DC20036
A Employer identification number

38-3926408
B Telephone number (see instructions)

(408) 358-3316
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$33,172,688J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 23,173,200
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 3,440 3,440 3,440
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -868,211
b Gross sales price for all assets on line 6a 41,004,441
7 Capital gain net income (from Part IV, line 2)... 41,004,421
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 22,308,429 41,007,861 3,440
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 310,336     310,336
14 Other employee salaries and wages...... 1,463,439     1,463,439
15 Pension plans, employee benefits....... 185,799     185,799
16a Legal fees (attach schedule)......... Click to see attachment 60,044     60,044
b Accounting fees (attach schedule)....... Click to see attachment 31,000     31,000
c Other professional fees (attach schedule).... Click to see attachment 1,009,926     1,009,926
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 569,739     121,890
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 127,357     127,357
22 Printing and publications.......... 4,873     4,873
23 Other expenses (attach schedule)....... Click to see list of attachments 486,704     53,971
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 4,249,217 0   3,368,635
25 Contributions, gifts, grants paid....... 11,568,791 8,888,250
26 Total expenses and disbursements. Add lines 24 and 25 15,818,008 0   12,256,885
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 6,490,421
b Net investment income (if negative, enter -0-) 41,007,861
c Adjusted net income (if negative, enter -0-)... 3,440
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 6,365,996 33,089,595 33,089,595
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 18,519,600    
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment17,954 Click to see attachment83,093 Click to see attachment83,093
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 24,903,550 33,172,688 33,172,688
Liabilities 17 Accounts payable and accrued expenses.......... 142,872 640,745
18 Grants payable.................. 1,437,500 2,680,645
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment480,910 Click to see attachment338,759
23 Total liabilities (add lines 17 through 22)......... 2,061,282 3,660,149
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 22,842,268 29,512,539
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 22,842,268 29,512,539
31 Total liabilities and net assets/fund balances (see instructions). 24,903,550 33,172,688
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
22,842,268
2
Enter amount from Part I, line 27a .....................
2
6,490,421
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
179,850
4
Add lines 1, 2, and 3 ..........................
4
29,512,539
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
29,512,539
Form 990-PF (2015)
Form 990-PF (2015)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1 a 66000 shares eBay common D 1996-05-20 2015-01-26
b 66000 shares eBay common D 1996-05-20 2015-01-27
c 66000 shares eBay common D 1996-05-20 2015-01-28
d 66000 shares eBay common D 1996-05-20 2015-01-29
e 66000 shares eBay common D 1996-05-20 2015-01-30
26000 shares eBay common D 1996-05-20 2015-11-25
100986 shares eBay common D 1996-05-20 2015-11-27
45190 shares PayPal Holdings common D 1996-05-20 2015-11-27
77591 shares PayPal Holdings common D 1996-05-20 2015-11-30
45190 shares PayPal Holdings common D 1996-05-20 2015-11-30
116510 shares eBay common D 1996-05-20 2015-11-30
192029 shares PayPal Holdings common D 1996-05-20 2015-12-01
116504 shares eBay common D 1996-05-20 2015-12-02
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 3,697,324   1 3,697,323
b 3,628,461   1 3,628,460
c 3,584,632   1 3,584,631
d 3,541,515   1 3,541,514
e 3,527,781   1 3,527,780
751,764   1 751,763
2,923,000   2 2,922,998
1,588,018   1 1,588,017
2,714,382   2 2,714,380
1,580,891   1 1,580,890
3,412,136   2 3,412,134
6,654,367   4 6,654,363
3,400,170   2 3,400,168
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a       3,697,323
b       3,628,460
c       3,584,631
d       3,541,514
e       3,527,780
      751,763
      2,922,998
      1,588,017
      2,714,380
      1,580,890
      3,412,134
      6,654,363
      3,400,168
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 41,004,421
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 5,466,956 6,418,681 0.85173
2013      
2012      
2011      
2010      
2
Total of line 1, column (d) .....................
20.851726
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years . . .
3
0.425863
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
20,579,635
5
Multiply line 4 by line 3......................
5
8,764,105
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
410,079
7
Add lines 5 and 6........................
7
9,174,184
8
Enter qualifying distributions from Part XII, line 4.............
8
12,256,885
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2015)
Form 990-PF (2015)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 410,079
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 410,079
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 410,079
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 481,399
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 360,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 841,399
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 431,320
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet431,320 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
Yes
 
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
No
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
     
    No
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletDC, DE
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
    Yes
     
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletwww.democracyfund.org
    14
    The books are in care ofbulletMatthew Deakin Telephone no.bullet (408) 358-3316

    Located atbullet720 University Ave Ste 200Los GatosCA ZIP+4bullet95032
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.......bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16 At any time during calendar year 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Pierre Omidyar Chairman
    0.75     		0    
    720 University Ave Ste 200
    Los Gatos,CA95032
    Patricia Christen Director
    1.00     		0    
    720 University Ave Ste 200
    Los Gatos,CA95032
    Michael Mohr Director
    1.00     		0    
    720 University Ave Ste 200
    Los Gatos,CA95032
    William Fitzpatrick Secretary & Dir
    1.00     		0    
    720 University Ave Ste 200
    Los Gatos,CA95032
    Joseph Goldman President & CEO
    38.00     		281,809 28,527  
    1200 17th St NW Ste 300
    Washington,DC20036
    Matthew Deakin Treasurer
    2.00     		0    
    720 University Ave Ste 200
    Los Gatos,CA95032
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    Elizabeth Hawkings Program Dir.
    39.00     		166,750 14,782  
    1200 17th St NW Ste 300
    Washington,DC20036
    Adam Ambrogi Program Dir.
    40.00     		166,520 26,496  
    1200 17th St NW Ste 300
    Washington,DC20036
    Thomas Glaisyer Program Dir.
    39.00     		153,974 11,969  
    1200 17th St NW Ste 300
    Washington,DC20036
    Margaret Yao Chief Pple Officer
    40.00     		136,125 17,866  
    1200 17th St NW Ste 300
    Washington,DC20036
    Anthony Bowen Dir of Grants Mgmt
    38.00     		101,323 14,584  
    1200 17th St NW Ste 300
    Washington,DC20036
    Total number of other employees paid over $50,000...................bullet 4
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Williams Group Branding & Comms. 184,101
    70 Ionia Avenue SW Ste 200
    Grand Rapids,MI495035139
    Karen Grattan Consulting 85,125
    5423 Long Boat Court
    Fairfax,VA22032
    RK Evaluation & Strategies Evaluation 61,819
    3155 19th St NW
    Washington,DC20010
    TCC Group Consulting 50,326
    31 West 27th Street 4th Floor
    New York,NY10001
    Community Building Institute Consulting 127,800
    127 S Highland Street
    Arlington,VA22204
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 Elections ProgramThrough its Elections Program, the Democracy Fund works to ensure that our election and campaign finance systems provide the public with confidence that their voices can be heard and that they have the ability to hold their leaders to account for their actions. The Democracy Fund promotes common sense dialogue and searches for innovative solutions that improve our campaign finance and election administration systems. The Democracy Funds aim is to understand and build consensus around those solutions that serve the needs of the American people. 927,507
    2 Public Square ProgramThrough its Public Square Program, the Democracy Fund supports platforms and practices that help people understand and engage in the democratic process. To create a more informed electorate, the Democracy Fund invests in innovations and institutions that rejuvenate local media and ensure that communities have access to diverse sources of information. We look for new ways to deepen the publics engagement in civic life and to expose them to different points of view. We support efforts to combat misinformation and develop new venues for reasoned debate and public deliberation. 892,491
    3 Governance ProgramThrough its Governance Program, the Democracy Fund works to improve the ability of governing institutions in the United States to function in the face of increased hyper-partisanship. We support approaches that help equip our elected leaders to deliberate, negotiate, and act in service of the American people. Specifically, the Governance Program has sought to improve the ability of our legislative branch to solve problems by fostering better relationships among political leaders, encouraging greater civility, and building the capacity of our political system. 647,437
    4 Other Program Services 53,477
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    2,712,500
    b
    Average of monthly cash balances.......................
    1b
    18,097,437
    c
    Fair market value of all other assets (see instructions)................
    1c
    83,093
    d
    Total (add lines 1a, b, and c).........................
    1d
    20,893,030
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    20,893,030
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    313,395
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    20,579,635
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,028,982
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
     
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
     
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    12,256,885
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    12,256,885
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
    410,079
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    11,846,806
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7  
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$  
    a Applied to 2014, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2015 distributable amount.....  
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2015.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		 
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
    3,440 903     4,343
    b 85% of line 2a ......... 2,924 768     3,692
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		12,256,885 5,466,956     17,723,841
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		8,888,250 4,518,675     13,406,925
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		3,368,635 948,281     4,316,916
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		685,988 189,924     875,912
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    Pierre Omidyar
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    American Press Institute
    4401 Wilson Blvd Ste 900
    Arlington,VA22203     		N/A PC Program support for research and education acitivites related to fact checking in journalism 100,000
    Bipartisan Policy Center Inc
    1225 Eye St NW
    Washington,DC20005     		N/A PC Program support for the Democracy Program 1,100,000
    Center for Public Integrity
    910 17th St NW Ste 700
    Washington,DC20006     		N/A PC Program support for Consider the Source 350,000
    Ethics and Public Policy Center Inc
    1730 M St NW
    Washington,DC20036     		N/A PC Program support for the Faith Angle Forum 60,000
    Faith and Politics Institute
    110 Maryland Ave NESte 504
    Washington,DC20002     		N/A PC General support 250,000
    Free Press
    1025 Connecticut Ave
    Washington,DC20036     		N/A PC Program support for the News Voices: New Jersey Project 150,000
    Online News Association
    1111 North Capitol St NE
    Washington,DC20002     		N/A PC Program support for the Challenge Fund for Innovation in Journalism 100,000
    Rock the Vote
    1001 Connecticut Ave NW Ste 640
    Washington,DC20036     		N/A PC General support 75,000
    Rutgers The State University
    3 Rutgers Plaza
    New Brunswick,NJ08901     		N/A PC Program support for the News Measures Project 100,000
    The Aspen Institute Inc
    One Dupont Circle NW
    Washington,DC20036     		N/A PC Program support for Aspen Congressional Program 150,000
    The Campaign Finance Institute
    1425 K St NW
    Washington,DC20005     		N/A PC General support 100,000
    The Campaign Legal Center Inc
    1411 K St NW Ste 1400
    Washington,DC20005     		N/A PC Capacity support for strategic planning 100,000
    Voice of the People
    1779 Massachusetts Ave NW
    Washington,DC20036     		N/A PC Program support for the Citizen Cabinet Pilot Project 300,000
    Democracy Works Inc
    20 Jay St Ste 824
    Brooklyn,NY11201     		N/A PC General support 250,000
    Fordham University
    441 E Fordham Rd Faber Hall 667
    Bronx,NY10458     		N/A PC Program support for Field Experiments on Money in Politics 200,000
    George Washington University
    2115 G St NW
    Washington,DC20036     		N/A PC Program support for The Monkey Cage 100,000
    Institute for Nonprofit News
    17514 Ventura Blvd
    Encino,CA91316     		N/A PC General support 280,000
    Issue One
    11 Dupont Cir Ste 350
    Washington,DC20036     		N/A PC Capacity building support for grant making program 21,250
    Massachusetts Institute of Technolo
    30 Wadsworth St
    Cambridge,MA02142     		N/A PC Program support for Polling Place of the Future 100,000
    No Labels Foundation
    1130 Connecticut Ave NW 325
    Washington,DC20036     		N/A PC Capacity support for professional development for senior management 25,000
    No Labels Foundation
    1130 Connecticut Ave NW 325
    Washington,DC20036     		N/A PC General support 200,000
    Participatory Budgeting Project
    33 Flatbush Ave
    Brooklyn,NY11217     		N/A PC Program support to foster increased use of participatory budgeting in the United States 200,000
    The Pew Charitable Trusts
    901 E St NW
    Washington,DC20004     		N/A PC Program support for the Pew Election Initiatives 750,000
    Proteus Fund
    15 Research Dr
    Amherst,MA01002     		N/A PC Program support for the Collaborative Communications Inititative on Money in Politics 300,000
    The Aspen Institute Inc
    One Dupont Cir NW
    Washington,DC20036     		N/A PC Program support for the Rodel Fellowship in Public Leadership 200,000
    Trustees of Columbia Univ in City o
    729 Seventh Ave
    New York,NY10019     		N/A PC Program support for Columbia Journalism Review's United States Project 200,000
    The University of Arizona Foundatio
    57 E Jackson St
    Tucson,AZ85701     		N/A PC Program support for the National Institute for Civil Discourse 80,000
    AZ State U Fndtn for a New American
    300 E University Drive
    Tempe,AZ85280     		N/A PC Program support for research and public education on the Citizens' Initiative Review 50,000
    Center for Technology and Civic Lif
    1649 W Cortland Street
    Chicago,IL60622     		N/A PC General support 200,000
    Civic Hall LLC
    156 5th Avenue
    New York,NY10010     		N/A NC Program support for nonpartisan research on how debates can increase engagement and become more responsive to voters' concerns 175,000
    Congressional Management Foundation
    710 E Street SE
    Washington,DC20003     		N/A PC General support 200,000
    Democracy Works Inc
    20 Jay St Ste 824
    Brooklyn,NY11201     		N/A PC Program support for election administration website 100,000
    FairVote
    6930 Carroll Avenue
    Takoma Park,MD20912     		N/A PC General support 150,000
    John S and James L Knight Fndtion I
    200 South Biscayne Boulevard
    Miami,FL33131     		N/A PF Program support for Knight News Challenge on Elections 250,000
    Millennial Action Project
    1601 Connecticut Avenue NW
    Washington,DC20009     		N/A PC General support 138,000
    Nat'l Conference of State Legislatu
    7700 East First Place
    Denver,CO80230     		N/A PC Program support for research on election administration 175,000
    New York University
    105 EAst 17th Street
    New York,NY10003     		N/A PC Program support for bipartisan research on the current state of money in politics 100,000
    New Venture Fund
    1200 18th Street NW
    Washington,DC20036     		N/A PC Program support for Next Century Cities' Democracy on a Gig Initiative 100,000
    Public Citizen Foundation Inc
    1601 20th Street NW
    Washington,DC20009     		N/A PC Program support for Bright Lines Project 150,000
    Take Back our Republic Inc
    246 East Glenn Avenue
    Auburn,AL36830     		N/A PC General support 300,000
    The Institute for Cultural Evolutio
    743 Pine Street
    Boulder,CO80302     		N/A PC Program support for convening on the future of conservatism 96,500
    The OpenGov Foundation
    30011 Ivy Glenn Drive
    Laguna Niguel,CA92677     		N/A PC Program support to plan for the development of a Congressional Digital Service 100,000
    The Pew Charitable Trusts
    901 E St NW
    Washington,DC20004     		N/A PC Program support for Safe Spaces Project 100,000
    The Project on Government Oversight
    1100 G Street NW
    Washington,DC20005     		N/A PC Program support for Congressional oversight trainings 137,500
    The University of Arizona Foundatio
    57 E Jackson St
    Tucson,AZ85701     		N/A PC Program support for the National Institute for Civic Discourse 400,000
    Times Publishing Company
    940 First Avenue South
    St Petersburg,FL33701     		N/A NC Program support for independent nonpartisan fact-checking to improve news coverage and civic discourse in the states 125,000
    Total .................................bullet 3a 8,888,250
    bApproved for future payment
    Common Cause Education Fund
    1133 19th St NW 9th Flr
    Washington,DC20036     		N/A PC General support 350,000
    Internet Archive
    PO Box 292
    San Francisco,CA94129     		N/A PC Program support for promoting collaboration on democracy issues 49,634
    The University of Texas at Austin
    1 University Station A1105
    Austin,TX78712     		N/A GOV Program support for promoting collaboration on democracy issues 31,632
    American Press Institute
    4401 Wilson Blvd Ste 900
    Arlington,VA22203     		N/A PC General support 250,000
    Online News Association
    1111 North Capitol St NE
    Washington,DC20002     		N/A PC Program support for the Challenge Fund for Innovation in Journalism 150,000
    Trustees of Tufts College
    Lincoln Filene Hall
    Medford,MA02155     		N/A PC Program support for promoting collaboration on democracy issues 15,000
    Civic Hall Labs Inc
    156 5th Avenue
    New York,NY10010     		N/A PC Program support for Civic Hall Imagination Fellow 100,000
    Democracy Works Inc
    20 Jay St Ste 824
    Brooklyn,NY11201     		N/A PC Program support for promoting collaboration on democracy issues 36,000
    Democracy Works Inc
    20 Jay St Ste 824
    Brooklyn,NY11201     		N/A PC Program support for promoting collaboration on democracy issues 50,000
    Congressional Management Foundation
    710 E Street SE
    Washington,DC20003     		N/A PC Program support for promoting collaboration on democracy issues 49,900
    Democracy Works Inc
    20 Jay St Ste 824
    Brooklyn,NY11201     		N/A PC General support 300,000
    FairVote
    6930 Carroll Avenue
    Takoma Park,MD20912     		N/A PC Program support for promoting collaboration on democracy issues 50,000
    Geraldine R Dodge Foundation Inc
    14 Maple Avenue
    Morristown,NJ07960     		N/A PF Program support for the Local News Lab in New Jersey 200,000
    Institute for Nonprofit News
    17514 Ventura Blvd
    Encino,CA91316     		N/A PC Program support for the INNovation Fund 200,000
    Library of Congress
    101 Independence Avenue SE
    Washington,DC20540     		N/A GOV Program support for Congressional Research Service seminars and trainings 100,000
    Open Source Election Technology Fou
    530 Lytton Avenue
    Palo Alto,CA94301     		N/A PC General support 250,000
    ReThink Media Inc
    2039 Shattuck Avenue
    Berkeley,CA94704     		N/A PC Program support for Collaborative Communications Inititative on Money in Politics 250,000
    Trustees of Columbia Univ in City o
    729 Seventh Ave
    New York,NY10019     		N/A PC Program support for promoting collaboration on democracy issues 25,875
    US Vote Foundation
    4325 Old Glebe Road
    Arlington,VA22207     		N/A PC Program support for promoting collaboration on democracy issues 50,000
    Voice of San Diego
    2508 Historic Decatur Road
    San Diego,CA92106     		N/A PC Program support for Membership Academy 25,000
    Women's Policy Inc
    409 12th Street
    Washington,DC20024     		N/A PC General support 130,000
    Participatory Budgeting Project
    33 Flatbush Ave
    Brooklyn,NY11217     		N/A PC Program support to promoting collaboration on democracy issues 17,500
    Total .................................bullet 3b 2,680,541
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		         
    4 Dividends and interest from securities....     14 3,440  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 -868,211  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   -864,771  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13-864,771
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
    Yes
     
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
    Yes
     
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    1b(4) 4,187 Democracy Fund Voice Inc Reimbursement of shared expenses
    1c 51,089 Democracy Fund Voice Inc Shared paid employees
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Democracy Fund Voice Inc 501(c)(4) Common Director - Pierre Omidyar
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID: 15000324
    Software Version: 2015v2.0


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2015
    Name of the organization
    Democracy Fund Inc
     
    Employer identification number

    38-3926408
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015) Page 2
    Name of organization
    Democracy Fund Inc
          		Employer identification number
    38-3926408
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    Pierre M Omidyar Trust  
    720 University Avenue Ste 200
     
    Los Gatos, CA95032

    		$ 10,395,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    Pierre M Omidyar Trust  
    720 University Avenue Ste 200
     
    Los Gatos, CA95032

    		$ 12,778,200


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 3
    Name of organization
    Democracy Fund Inc
          		Employer identification number

    38-3926408
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    1
    		 360,000 shares eBay Inc common stock $ 10,395,000 2015-11-25
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    2
    		 360,000 shares Paypal common stock $ 12,778,200 2015-11-25
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 4
    Name of organization
    Democracy Fund Inc
          		Employer identification number

    38-3926408
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

    Additional Data


    Software ID: 15000324
    Software Version: 2015v2.0

    TY 2015 AccountingFeesSchedule
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting fees 31,000 0 0 31,000

    TY 2015 GeneralExplanationAttachment
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Identifier Return Reference Explanation
      General Explanation Supplemental Information for Form 990-PF Form 990PF, PART VIIB, LINE 1a(3) During the period ended December 31, 2015, affiliated entities and related parties provided in-kind services including financial manager fees of $137,500, recruiting fees of $22,300, legal fees of $90,000, rent expense of $214,926 and other expenses of $161,472. The total amount of these contributed services is valued at $626,198 but was not recorded on Form 990-PF.

    TY 2015 LegalFeesSchedule
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal Fees 60,044 0 0 60,044


    TY 2015 OtherAssetsSchedule
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Prepaid expenses and other assets 17,954 83,093 83,093


    TY 2015 OtherExpensesSchedule
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accrual to cash adjustment       -432,733
    Conference sponsorships 153,100     153,100
    Event location and support 37,212     37,212
    Hosted events - Internal 35,103     35,103
    Other Expenses 194,155     194,155
    Software 33,434     33,434
    Staff professional development 33,700     33,700


    TY 2015 OtherLiabilitiesSchedule
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Beginning of Year - Book Value End of Year - Book Value
    Federal excise tax payable 110,518 338,759
    Deferred Federal Excise Tax Liability 370,392  


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Consultants 969,101 0 0 969,101
    Contracted services 40,825 0 0 40,825


    TY 2015 TaxesSchedule
    Name:
    Democracy Fund Inc
    EIN:
    38-3926408
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Federal Excise Tax Expense 447,849      
    Payroll Taxes 121,890     121,890