Form990-PF

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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
DOROTHY B DAVIS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 641670
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
OMAHA, NE68164
A Employer identification number

47-2493491
B Telephone number (see instructions)

(402) 990-2779
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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$80,852,331J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 121,217 121,217  
4 Dividends and interest from securities... 411,854 411,854  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,864,745
b Gross sales price for all assets on line 6a 15,977,819
7 Capital gain net income (from Part IV, line 2)... 2,864,745
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........ 3,397,816 3,397,816  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 180,000 9,000   171,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 44,439 2,222   42,217
16a Legal fees (attach schedule)......... Click to see attachment 1,429 0   1,429
b Accounting fees (attach schedule)....... Click to see attachment 7,673 0   7,673
c Other professional fees (attach schedule).... Click to see attachment 183,353 183,353   0
17 Interest............... 11,972 0   11,972
18 Taxes (attach schedule) (see instructions)... Click to see attachment 17,940 7,350   10,590
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,785 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 101 0   101
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 21,247 0   21,247
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 471,939 201,925   266,229
25 Contributions, gifts, grants paid....... 3,832,000 3,832,000
26 Total expenses and disbursements. Add lines 24 and 25 4,303,939 201,925   4,098,229
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -906,123
b Net investment income (if negative, enter -0-) 3,195,891
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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............. 27,844 174,181 174,181
2 Savings and temporary cash investments......... 377,900 433,738 433,738
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)....... 13,431,486 Click to see attachment14,786,284 71,514,277
c Investments—corporate bonds (attach schedule)....... 3,780,420 Click to see attachment3,602,204 3,680,702
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 5,078,214 Click to see attachment4,476,091 5,037,132
14 Land, buildings, and equipment: basis bullet26,495
Less: accumulated depreciation (attach schedule) bullet14,194 16,086 Click to see attachment12,301 12,301
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 22,711,950 23,484,799 80,852,331
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......   1,678,972
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 1,678,972
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 22,711,950 21,805,827
29 Total net assets or fund balances (see instructions)..... 22,711,950 21,805,827
30 Total liabilities and net assets/fund balances (see instructions). 22,711,950 23,484,799
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
22,711,950
2
Enter amount from Part I, line 27a .....................
2
-906,123
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
21,805,827
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
21,805,827
Form 990-PF (2020)
Form 990-PF (2020)
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 CAPITAL GAIN DISTRIBUTIONS P 2019-01-01 2020-12-31
b PUBLICLY TRADED SECURITIES P 2020-01-01 2020-12-31
c PUBLICLY TRADED SECURITIES P 2019-01-01 2020-12-31
d BERKSHIRE HATHAWAY CL A D 2015-07-06 2020-11-25
e BERKSHIRE HATHAWAY CL B D 2015-07-06 2020-12-15
(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 50,342     50,342
b 7,939,856   8,212,978 -273,122
c 5,575,267   4,896,879 678,388
d 2,017,182   123 2,017,059
e 395,172   3,094 392,078
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       50,342
b       -273,122
c       678,388
d       2,017,059
e       392,078
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 2,864,745
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 44,423
c All other domestic foundations enter 1.39% 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 0
3 Add lines 1 and 2........................... 3 44,423
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 44,423
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 35,466
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 35,466
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 111
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 9,068
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   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 the instructions
for the 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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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
 
No
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
 
 
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
    Yes
     
    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)
    bulletNE
    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 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    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 (2020)
    Form 990-PF (2020)
    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 addressbulletN/A
    14
    The books are in care ofbulletPAMELA SWISHER Telephone no.bullet (402) 990-2779

    Located atbulletPO BOX 641670OMAHANE ZIP+4bullet681647670
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. 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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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
     
     
    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 2020 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 2020.)..................
    3b
     
     
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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:
    Yes
    No
    (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
     
     
    .........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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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
    CLINT SEEMANN DIRECTOR
    1.00     		0 0 0
    PO BOX 641670
    OMAHA,NE68164
    LEE D SEEMANN JR PRESIDENT
    1.00     		0 0 0
    PO BOX 641670
    OMAHA,NE68164
    PAMELA SWISHER EXECUTIVE DIRECTOR
    40.00     		180,000 36,000 8,440
    PO BOX 641670
    OMAHA,NE68164
    TOM NICHOLS TRUSTEE/DIRECTOR
    1.00     		0 0 0
    PO BOX 641670
    OMAHA,NE68164
    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
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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
    MORGAN STANLEY INVESTMENT FEES 183,353
    1585 BROADWAY
    NEW YORK,NY10036
    Total number of others receiving over $50,000 for professional services.............bullet0
    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  
    2  
    3  
    4  
    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.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    71,067,684
    b
    Average of monthly cash balances.......................
    1b
    720,613
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    71,788,297
    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
    0
    3
    Subtract line 2 from line 1d.........................
    3
    71,788,297
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,076,824
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    70,711,473
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,535,574
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,535,574
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    44,423
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    44,423
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,491,151
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,491,151
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    3,491,151
    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
    4,098,229
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    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
    4,098,229
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    4,098,229
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 3,491,151
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 35,854,643
    b From 2016......  
    c From 2017...... 468,277
    d From 2018...... 9,351,722
    e From 2019...... 2,469,416
    fTotal of lines 3a through e........ 48,144,058
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 4,098,229
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 3,491,151
    e Remaining amount distributed out of corpus 607,078
    5 Excess distributions carryover applied to 2020. 0 0
    (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 48,751,136
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    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......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    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) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		35,854,643
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		12,896,493
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017.... 468,277
    c Excess from 2018.... 9,351,722
    d Excess from 2019.... 2,469,416
    e Excess from 2020.... 607,078
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    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...     		         
    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 foundation 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).)
    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 (2020)
    Form 990-PF (2020)
    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
    ASSISTANCE LEAGUE
    3569 LEAVENWORTH STREET
    OMAHA,NE68105     		  PC OPERATION SCHOOL BELL 50,000
    AUTISM ACTION PARTNERSHIPS
    10110 NICHOLAS ST STE 202
    OMAHA,NE68114     		  PC CIRCLE OF FRIENDS PROGRAM 50,000
    BIG BROTHERS BIG SISTERS
    10831 OLD MILL ROAD STE 400
    OMAHA,NE68154     		  PC GENERAL OPERATING 50,000
    CAMP FOSTER YOUNG MENS CHRISTIAN ASSOCIATION INC
    1900 41ST STREET
    SPIRIT LAKE,IA51360     		  PC SCHOLARSHIPS FOR THOSE UNABLE TO AFFORD CAMP 42,000
    CASA FOR DOUGLAS COUNTY
    2412 ST MARYS AVE
    OMAHA,NE68105     		  PC UNDERWRITE VOLUNTEER PROGRAM 75,000
    CHILD SAVING INSTITUTE
    4545 DODGE STREET
    OMAHA,NE68132     		  PC GENERAL OPERATING 75,000
    CHILDREN'S RESPITE CARE CENTERS
    2010 N 89TH STREET
    OMAHA,NE68134     		  PC PATIENT ASSISTANCE FUND AND DAYCARE FOR ESSENTIAL WORKERS DURING COVID 50,000
    CHILDREN'S SCHOLARSHIP FUND
    7101 MERCY ROAD STE 150
    OMAHA,NE68106     		  PC SCHOLARHIPS 100,000
    COLLEGE POSSIBLE
    755 PRIOR AVE STE 210
    ST PAUL,MN55104     		  PC EDUCATIONAL ACCESS FOR LOW INCOME STUDENTS 50,000
    COMMUNITY ALLIANCE
    4001 LEAVENWORTH ST
    OMAHA,NE68105     		  PC GENERAL OPERATING 50,000
    GRIEFS JOURNEY
    7811 FARNAM DRIVE
    OMAHA,NE68114     		  PC GENERAL OPERATING 30,000
    HABITAT FOR HUMANITY OMAHA
    1701 N 24TH STREET
    OMAHA,NE68110     		  PC LOW INCOME HOUSING 150,000
    HARBOR HOUSE DBA HOSPICE HOUSE
    12809 W DODGE RD
    OMAHA,NE68154     		  PC PATIENT ASSISTANCE FUND 100,000
    HOLY NAME HOUSING CORP
    4324 FORT ST
    OMAHA,NE68111     		  PC SENIOR HOUSING 50,000
    MAKE A WISH
    1005 S 107TH AVE STE 102
    OMAHA,NE68114     		  PC GENERAL OPERATING 75,000
    MENDING FACES
    PO BOX 214
    BROOMFIELD,CO80038     		  PC GENERAL OPERATING 25,000
    NEBRASKA CHILDREN AND FAMILIES
    215 CENTENNIAL MALL S STE 200
    LINCOLN,NE68508     		  PC COVID AWARENESS CAMPAIGN AND PROJECT EVERLAST 60,000
    NEBRASKA HUMANE SOCIETY
    8929 FORT STREET
    OMAHA,NE68134     		  PC GENERAL OPERATING 50,000
    OMAHA CHILDREN'S MUSEUM
    500 S 20TH STREET
    OMAHA,NE68102     		  PC COVID SUPPORT AND GENERAL OPERATING 50,000
    OMAHA COMMUNITY FOUNDATION
    3555 FARNAM ST STE 222
    OMAHA,NE68131     		  PC CAMPAIGN TO STOP HUMAN SEX TRAFFICKING 100,000
    OMAHA CRIME STOPPERS
    PO BOX 126
    OMAHA,NE68102     		  PC REWARD FUND FOR TIPS ON LOCAL CRIME 25,000
    PHOENIX ACADEMY
    1110 N 66TH ST
    OMAHA,NE68132     		  PC EDUCATIONAL ACESS FOR LOW INCOME STUDENTS 100,000
    PROJECT HARMONY
    11949 Q STREET
    OMAHA,NE68137     		  PC GENERAL OPERATING 100,000
    PROJECT HOUSEWORKS
    2316 S 24TH STREET
    OMAHA,NE68108     		  PC SUPPORT FOR HOME REPAIRS FOR LOW INCOME SENIORS 50,000
    RONALD MCDONALD HOUSE
    620 SOUTH 38TH AVENUE
    OMAHA,NE68105     		  PC GENERAL OPERATING 75,000
    SEVENTY FIVE NORTH REVITALIZATION CORPORATION
    2112 N 30TH ST STE 200
    OMAHA,NE68111     		  PC AFFORDABLE HOUSING 50,000
    SPECIAL OLYMPICS
    9427 F ST
    OMAHA,NE68127     		  PC GENERAL OPERATING 50,000
    UNIVERSITY OF NEBRASKA FOUNDATION
    1010 LINCOLN MALL STE 300
    LINCOLN,NE68508     		  PC TEACHERS SCHOLARS ACADEMY FUND, CAPITAL PAYMENT FOR DAVIS GLOBAL CENTER AND DAVIS PRIZE IN UROLOGY 700,000
    USA HOCKEY FOUNDATION
    1775 BOB JOHNSON DRIVE
    COLORADO SPRINGS,CO80906     		  SO I GENERAL OPERATING 100,000
    VISITING NURSE ASSOCIATION
    12565 W CENTER RD STE 100
    OMAHA,NE68144     		  PC COVID EQUIPMENT FUND AND HEALTHCARE ASSISTANCE FOR LOW INCOME SENIORS 75,000
    YMCA OF GREATER OMAHA
    430 SOUTH 20TH
    OMAHA,NE68102     		  PC DAYCARE FOR ESSENTIAL WORKERS DURING COVID 25,000
    AVENUE SCHOLARS
    7101 MERCY RD STE 240
    OMAHA,NE68106     		  PC EDUCATIONAL ACCESS FOR LOW INCOME STUDENTS 200,000
    BOYS & GIRLS CLUB
    2610 HAMILTON ST
    OMAHA,NE68131     		  PC COVID EQUIPMENT FUND 10,000
    COFFEE HOUSE PRESS
    1345 NEW HAMPSHIRE STREET
    LINCOLN,NE68508     		  PC GENERAL OPERATING 5,000
    COMPLETELY KIDS
    2566 ST MARYS AVE
    OMAHA,NE68105     		  PC FOOD PANTRY DURING PANDEMIC 25,000
    COUNCIL BLUFFS SCHOOLS FOUNDATION
    300 W BROADWAY SUITE 212
    COUNCIL BLUFFS,IA51503     		  PC DAYCARE FOR ESSENTIAL WORKERS DURING COVID 10,000
    ECONOMIC EMPOWERMENT
    4706 S 24ST ST
    OMAHA,NE68107     		  PC COVID TESTING IN MEAT PACKING PLANTS 25,000
    HEARTLAND EQUINE THERAPY
    10130 S 222ND STREET
    GRETNA,NE68028     		  PC GENERAL OPERATING 30,000
    INTERCULTURAL SENIOR CENTER
    5545 CENTER STREET
    OMAHA,NE68106     		  PC FOOD PANTRY DURING PANDEMIC AND PROGRAMS FOR SENIORS 110,000
    KAMO INC
    2925 COUNTY ROAD O
    TEKAMAH,NE68061     		  PC ANIMAL WELFARE 10,000
    LAURITZEN GARDENS
    100 BANCROFT ST
    OMAHA,NE68108     		  PC GENERAL OPERATING 25,000
    METRO AREA CONTINUUM OF CARE FOR THE HOMELESS
    6001 DODGE ST COMMUNITY ENGAGEMENT
    OMAHA,NE68182     		  PC HOUSING STABILITY DURING PANDEMIC 250,000
    NEW VISIONS HOMELESS SERVICE
    6111 SORENSEN PKWY
    OMAHA,NE68152     		  PC COVID SUPPLIES AND PROGRAM FOR HOMELESS VETERANS 35,000
    ONE WORLD COMMUNITY
    4920 SOUTH 30TH STREET
    OMAHA,NE68107     		  PC GENERAL OPERATING AND PHARMACY RENOVATION 200,000
    PGA REACH NE
    610 J ST STE 10
    LINCOLN,NE68508     		  PC PROGRAMS FOR YOUTH 10,000
    POLICE ATHLETICS COMMUNITY
    PO BOX 24251
    OMAHA,NE68124     		  PC GENERAL OPERATING 30,000
    ROSE THEATER
    2001 FARMAN ST
    OMAHA,NE68102     		  PC GENERAL OPERATING 25,000
    SAVING GRACE PERISHABLE FOOD RESCUE
    4611 S 96TH ST STE 112
    OMAHA,NE68127     		  PC FOOD DELIVERY TO HOMELESS SHELTERS AND FOOD PANTRIES 30,000
    SIENA FRANCIS HOUSE
    PO BOX 217 DTS
    OMAHA,NE68101     		  PC SHELTER FOR THE HOMELESS 50,000
    SPIRIT LAKE COMMUNITY SCHOOLS
    PO BOX 46
    SPIRIT LAKE,IA51360     		  GOV CAPITAL - SPIRIT LAKE PARK 50,000
    VOLUNTEERS ASSISTING
    1941 S 42ND ST STE 312
    OMAHA,NE68105     		  PC ASSISTANCE FOR SENIORS 20,000
    WOMEN'S CENTER FOR ADVANCEMENT
    3801 HARNEY ST
    OMAHA,NE68131     		  PC GENERAL OPERATING 50,000
    Total .................................bullet 3a 3,832,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 ...........     		    14 121,217  
    4 Dividends and interest from securities....     14 411,854  
    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 2,864,745  
    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).. 0 3,397,816 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    3,397,816
    (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 (2020)
    Form 990-PF (2020)
    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) (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)
     
    No
    (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
     
    No
    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
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (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
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 7,673 0   7,673

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2020 DepreciationSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    TRAP EQUIPMENT 2017-03-31 26,495 10,409 SL 7.000000000000 3,785 0    

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BANK OF AMERICA CORP 6.5% 220,536 228,500
    CENTURYLINK INC 188,541 198,188
    CITIGROUP INC. 180,053 200,672
    FORD MOTOR CREDIT CO LLC 173,544 173,263
    GENERAL ELECTRIC CO 5.0% 179,010 189,771
    GENERAL MOTORS 5.75% 421,840 410,800
    GOLDMAN SACHS GROUP INC 5.375% 179,267 174,647
    GOLDMAN SACHS GROUP INC. 179,714 189,418
    HANESBRANDS INC 176,721 190,094
    JP MORGAN CHASE & CO. 5.3% 179,536 174,424
    L BRANDS 196,324 208,716
    MORGAN STANLEY SERIES F 86,000 99,212
    MOTOROLA INC. DEBENTURES 188,368 193,388
    SOUTHERN CO 5.5% 182,544 176,742
    SYNOVUS FINANCIAL CORP FXD 190,065 188,650
    TOLL BROS FINANCE CORP 171,617 184,535
    UNITED CONTINENTAL 101,495 99,250
    VERIZON COMMUNICATIONS 181,844 188,182
    WELLS FARGO & CO 5.9% 225,185 212,250

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Name of Stock End of Year Book Value End of Year Fair Market Value
    21 VIANET GROUP INC 29,619 42,669
    ABBOTT LABORATORIES 93,356 245,696
    ACCENTURE PLC IRELAND CL A 17,879 37,353
    ACTIVISION BLIZZARD 65,385 112,070
    ADIDAS AG 61,380 87,286
    ADOBE INC 82,883 160,038
    ADVANCE AUTO PARTS 41,391 59,224
    ADVANCED MICRO DEVICES 31,605 32,649
    ADYEN B.V. 49,122 153,837
    ADYEN N V UNSPONSRED ADR 51,195 178,547
    AGILENT TECHNOLOGIES 7,874 8,176
    AIR LIQUIDE ADR 27,359 29,009
    AIR PROD & CHEM INC. 46,100 89,889
    AKAMAI TECHNOLOGIES 31,288 53,965
    ALCON INC 31,458 37,411
    ALEXANDRIA REAL ESTATE EQ INC 12,775 19,604
    ALEXION PHARM 47,395 68,746
    ALIBABA GROUP 254,079 374,463
    ALLEGION PUB LTD CO 42,457 62,612
    ALPHABET INC CL C 240,675 453,737
    ALTRIA GROUP INC 11,194 12,054
    AMADEUS IT GROUP SSA ADR 16,252 25,998
    AMAZON 577,770 1,051,988
    AMERICAN EXPRESS CO 60,524 82,582
    AMERISOURCEBERGEN CORP 40,690 43,699
    AMGEN INC 40,182 46,214
    AMPHENOL CORP NEW CL A 101,325 196,940
    ANALOG DEVICES INC 69,047 121,730
    ANHEUSER BUSCH 33,581 44,113
    ANSYS INC 27,790 62,210
    ANTHEM INC 15,795 19,265
    AON PLC SHS CL- A 13,038 24,719
    ARCH CAPITAL GROUP LTD 36,000 47,468
    APPLE INC. 240,508 640,893
    APTIV PLC 113,514 226,314
    ARTHUR J. GALLAGHER 18,428 42,680
    ASML HOLDING NY NY 63,294 112,663
    ASTRAZENECA 66,925 92,482
    ATLASSIAN CORP PLC CL A 66,263 103,838
    AUTODESK INC. DELAWARE 23,275 96,487
    AUTOMATIC DATA PROCESSING INC. 123,398 150,299
    AVALONBAY COMM INC 34,770 36,899
    B&M EUROPEAN VALUE 42,854 71,906
    BANK OF AMERICA CORP 66,642 115,420
    BECTON DICKINSON & CO 56,210 75,066
    BEST BUY CO 22,054 25,446
    BERKSHIRE A STOCK 2,600 43,476,875
    BERKSHIRE B STOCK 23,134 3,129,086
    BIOMARIN PHARMAC 11,049 13,417
    BLACK KNIGHT 42,583 83,226
    BLACKROCK INC 76,273 137,093
    BLUE PRISM GROUP 10,580 21,348
    BOSTON PROPERTIES INC (BXP) 12,929 15,597
    BRIGHT HORIZONS FAMILY SOLUTION 12,561 16,088
    BOOKING HOLDINGS 38,450 73,500
    BOOZT AB 10,816 47,318
    BRISTOL MYERS SQUIBB CO 98,024 123,564
    BROOKFIELD ASSET MGNT CL A LTD 87,055 137,842
    BROOKFIELD INFRASTURE SB VTG A 23,993 44,248
    BROOKFIELD PPTY REIT INC CL A 4,446 5,498
    BROOKFIELD RENEWABLE CORP CL A 2,359 4,079
    BROWN & BROWN INC 23,717 44,423
    BROWN FORMAN CORP CL B 10,385 17,872
    CANNAE HOLDINGS INC 6,881 8,278
    CAPGEMINI S E 15,418 31,447
    CAPITAL ONE FINANCIAL CORP 20,621 28,271
    CARMAX INC. 53,824 90,776
    CARSALES COM 36,921 71,225
    CBRE GROUP INC 38,697 63,724
    CDW CORPORATION 78,668 94,098
    CHARLES SCHWAB NEW 189,127 298,774
    CHEVRON CORP 6,876 7,432
    CHUBB LTD 38,457 48,485
    CIGNA CORP 44,507 60,164
    CME GROUP INC 69,369 106,135
    CMS ENERGY CP 26,666 38,985
    COCA COLA CO 41,624 50,453
    COGNEX CORP 3,321 5,941
    COLFAX CORP 5,647 10,095
    COMCAST CORP - CLASS A 123,960 210,019
    CONOCOPHILLIPS 34,688 40,910
    COPART INC 34,825 101,546
    COSTAR GROUP INC 52,949 72,094
    COSTCO WHOLESALE CORP 34,383 60,285
    CREDIT ACCEPTANCE CORP 12,179 15,230
    CSL LTD 52,984 71,598
    CVS HEALTH CORP 31,380 37,770
    DANAHER CORPORATION 27,933 59,089
    DEERE & CO 44,125 68,608
    DOCUSIGN INC 70,325 72,470
    DOLLAR GEN CORP 25,060 53,837
    DOMINOS PIZZA 26,618 40,647
    DOVER CORP 65,916 106,808
    DYNATRACE INC 52,604 65,381
    EATON CORP 70,530 96,833
    ECOLAB INC 29,923 52,575
    EDENRED S A ADR 29,903 52,068
    ELI LILLY & CO 42,585 71,250
    ENTERGY CORP NEW 2,967 2,995
    EOG RESOURCES INC 29,117 28,675
    EQUINIX INC COM PAR 58,611 99,985
    EVOLUTION GAMING GROUP 6,111 43,237
    EXPERIAN GP LTD 52,455 63,773
    EXXON MOBIL CORP 100,150 46,991
    FACEBOOK 362,942 643,838
    FARFETCH LTD CL A 33,551 37,137
    FASTENAL CO 24,747 42,922
    FERRARI N V 97,803 152,172
    FIDELITY NATIONAL FINANCIAL 34,501 44,172
    FIDELITY NATIONAL INFORMATION SE 71,199 111,895
    FIRST REPUBLIC BANK 18,010 28,211
    FISERV INC 45,421 63,534
    FORTIVE CORP 17,869 20,538
    FRESENIUS MEDICAL CARE 51,590 62,091
    GARTNER INC 35,364 56,707
    GENL DYNAMICS CORP 45,334 47,325
    GIVAUDAN SA ADR 44,880 72,895
    GLOBAL PAYMENT 48,777 84,445
    GUIDEWIRE SOFTWARE 34,286 48,402
    HEICO CORP 27,545 39,800
    HARTFORD FIN SERVICES GRP INC 40,044 45,160
    HASBRO INC 35,682 45,367
    HERMES INTL SCA UNSPON ADR 41,818 62,169
    HILTON WOLDWIDE HOLDINGS 52,189 82,444
    HOME DEPOT INC. 81,225 158,310
    HONEYWELL INTERNATIONAL INC. 49,316 81,464
    HOWARD HUGHES CORP 18,984 24,863
    HUYA INC ADS REP SHS A 13,525 13,672
    HYATT HOTELS CORP 14,696 19,825
    IDEXX LABS 18,279 46,988
    IHS MARKIT LTD 59,650 109,952
    INTERCONTINENTAL EXCHANGE 13,636 20,291
    INTL BUSINESS MACHINES CORP 39,794 43,303
    INTUIT INC 59,576 98,381
    INTUITIVE SURGICAL CENTER 32,390 57,267
    IQVIA HOLDINGS INC 157,327 311,756
    JAPAN EXCHANGE GROUP 43,537 70,223
    JOHNSON & JOHNSON 96,715 123,858
    KENNEDY-WILSON 12,469 15,779
    KERING S A ADR 36,358 47,672
    KERRY GROUP PLC 49,350 67,805
    KKR & CO 55,299 95,030
    L OREAL CO ADR 46,298 61,758
    LENNAR CORPORATION 24,677 42,155
    LIBERTY BROADBAND CORP 6,714 18,594
    LIBERTY BROADBAND CORP S-C 36,422 81,244
    LIBERTY MEDIA C SER A SIRIUSXM 6,050 9,199
    LIBERTY MEDIA C SER C SIRIUSXM 14,630 21,929
    LIBERTY MEDIA CORP SER A 1,537 3,001
    LIBERTY MEDIAL CORP SER C 19,609 29,096
    LIVE NATION ENTERTAINMENT INC 30,603 46,733
    LONZA GROUP 45,012 104,707
    LULULEMON ATHLETICA 31,833 61,949
    LVMH MOET HENNESSY 139,074 210,420
    M&T BANK CORP 7,669 9,548
    MARKEL CORP 26,051 29,966
    MARRIOTT INT'L INC NEW 16,833 20,975
    MARSH & MCLENNAN COS 14,934 18,954
    MARTIN MARIETTA MATERIALS 25,490 42,596
    MASTERCARD INC CL A 188,233 518,991
    MATCH GROUP INC. 83,043 106,740
    MCDONALDS CORP 60,721 79,609
    MEDTRONIC PLC SHS 85,603 110,229
    MEITUAN ADR 31,374 58,998
    MERCADOLIBRE INC 109,060 288,138
    MERCK & CO INC NEW COM 27,840 43,190
    METLIFE INC. 30,442 41,973
    METTLER TOLEDO 24,751 47,867
    MICROCHIP TECHNOLOGY INC 25,927 56,901
    MICRON TECH INC 39,522 65,707
    MICROSOFT CORP 375,071 938,390
    MONDELEZ INTL INC. COM 65,463 84,489
    MONOTARO CO LTD ADR 19,599 40,853
    MONSTER BEVERAGE CORP NEW COM 34,746 51,326
    MOODYS CORP 10,311 30,185
    MORGAN STANLEY 74,435 123,011
    MOTOROLA SOLUTIONS INC 20,924 28,910
    MSCI INC. COM 9,855 32,507
    NESTLE SPON ADR REP REG SHR 78,774 81,400
    NETFLIX 109,560 202,774
    NEXTERA ENERGY INC 53,274 109,862
    NIHON M&A CENTER INC 30,873 82,234
    NIKE INC 222,095 295,814
    NORFOLK SOUTHERN CORP 40,998 70,808
    NORTHERN TRUST CORP 21,652 26,452
    NORTHROP GRUMMAN CP 28,861 30,167
    NUTANIX INC 23,017 46,626
    NVIDIA CORPORATION 86,626 173,370
    NXP SEMICONDUCTORS NV 30,464 40,548
    O'REILLY AUTOMOTIVE INC 43,848 76,937
    OTIS WORLDWIDE CROP 15,905 17,968
    PALO ALTO NETWORKS 38,493 73,566
    PARKER HANNIFIN 59,171 95,888
    PAYPAL HOLDINGS 43,777 125,531
    PELOTON INTERACTIVE INC CL A 52,616 112,880
    PEPSICO INC 54,227 68,663
    PERNOD RECARD SA UNSPONS ADR 31,101 34,515
    PFIZER INC 26,560 34,270
    PHILIP MORRIS INTL INC. 100,864 104,978
    PHILLIPS 66 COM 100,015 99,315
    PNC FINL SVCS GP 87,785 124,862
    PPG INDUSTRIES INC 61,907 86,099
    PROCTOR & GAMBLE 39,319 60,108
    PROGRESSIVE CORP OHIO 31,098 66,250
    PROLOGIS INC COM 21,040 22,025
    PROSUS N V SPONSORED ADR 20,713 31,819
    PUBLIC SERVICE ENTERPRISE 22,403 25,535
    QUALCOMM INC 41,853 104,810
    RAYTHEON TECHNOLOGIES CORP 87,823 101,115
    REALPAGE INC 27,489 45,801
    REALTY INCOME CORP 1,104 1,430
    REPUBLIC SERVICES INC 30,268 47,572
    REMY COINTREAU S A ADR 31,128 49,149
    RESTAURANT BRANDS INTL INC 46,851 54,388
    RING CENTRAL INC CLA A 63,682 118,239
    ROPER TECHNOLOGIES 31,807 59,922
    ROSS STORES INC 28,692 50,598
    ROYAL DUTCH SHELL PLC CL B 99,931 51,423
    S&P GLOBAL INC COM 5,754 15,779
    SALESFORCE.COM 123,872 171,793
    SBA COMMUNICATIONS CORP 42,615 84,357
    SEA LIMITED ADR 30,632 32,843
    SERVICENOW 44,793 133,754
    SHOPIFY 84,647 185,640
    SIEMENS HEALTHINEERS AG 29,269 37,864
    SIG COMBIBLOC GROUP AG NAMEN A 21,246 22,423
    SIKA AG ADR 27,419 29,218
    SLACK TECHNOLOGIES 14,243 24,204
    SNAP ON INC. 16,476 18,276
    SNOWFLAKE INC CL A 56,047 47,275
    SPLUNK INC 68,439 102,614
    SQUARE INC 8,129 22,635
    ST JAMES PLACE 30,708 37,512
    STANLEY BACK & DECKER INC 39,671 49,283
    STARBUCKS CORP WASHINGTON 27,114 39,369
    STERICYCLE INC 114,083 170,136
    STRYKER CORP 37,136 54,644
    SUMMIT MATLS INC 10,270 14,016
    SYSCO COROP 41,478 52,799
    T ROWE PRICE GROUP INC 25,476 50,716
    TAIWAN SMCNDCTR MFG 55,297 125,614
    TAL EDUC GROUP 16,930 52,202
    TELADOC HEALTH INC 35,072 37,992
    TENCENT HOLDINGS 178,994 294,030
    TESLA INC 26,129 165,832
    TEXAS INSTRUMENTS 79,609 165,115
    THERMO FISHER 86,867 168,147
    TJX COS INC NEW 183,907 239,903
    TRADE DESK INC 21,657 68,886
    TRANE TECHNOLOGIES PLC 21,657 33,096
    TRANSDIGM GROUP 68,578 147,905
    TRANSUNION 29,242 48,618
    TRUIST FINL CORP 34,984 48,409
    TWILIO INC CL A 53,611 77,178
    TYLER TECHNOLOGIES INC 23,521 29,683
    US BANCORP COM NEW 44,948 54,371
    UBER TECHNOLOGIES 50,507 77,112
    UBISOFT 61,583 79,810
    ULTA BEAUTY INC 77,003 103,090
    UNITED PARCEL SER INC CL-B 52,981 89,757
    UNITEDHEALTH GP INC 181,171 314,911
    V F CORPORATION 24,685 32,029
    VAIL RESORTS 35,439 54,397
    VALERO ENERGY CP DELA NEW 12,796 17,820
    VENTAS INC 2,334 3,580
    VERISIGN INC 33,850 60,159
    VERISK ANALYTICS INC COM 88,864 230,840
    VERIZON COMMUNICATIONS 77,994 87,361
    VERTEX PHARMACEUTICALS 41,387 58,376
    VISA INC 220,801 353,905
    VMWARE INC 25,528 28,333
    VORNADO REALTY TRUST 11,352 12,546
    VULCAN MATERIALS CO 54,605 76,973
    W W GRAINGER 43,079 65,016
    WALMART 54,007 73,372
    WALT DISNEY CO 47,522 77,907
    WILLIS TOWERS WATSON 15,258 16,012
    WIX COM 41,696 75,738
    WORKDAY INC CL A 25,247 46,484
    WUXI BIOLOGICS CAYMAN INC 26,948 112,633
    XCEL ENERGY INC 34,197 51,936
    YANDEX 31,150 70,067
    YUM BRANDS 13,058 16,284
    ZOETIS INC. CLASS A 120,567 293,101

    TY 2020 InvestmentsOtherSchedule2
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    EXCH TRADED FUNDS AT COST 2,241,327 2,447,819
    EXCH TRADED FUNDS AT COST 136,267 157,990
    ACCRUED INTEREST AT COST 0 45,982
    MUTUAL FUNDS AT COST 2,096,765 2,383,609
    CAP GAIN DIV REC 0189 AT COST 124 124
    DIVIDENDS RECEIVABLE AT COST 1,572 1,572
    WASH SALE COST ADJUSTMENT AT COST 36 36

    TY 2020 LandEtcSchedule2
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    TRAP EQUIPMENT 26,495 14,194 12,301  


    TY 2020 LegalFeesSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 1,429 0   1,429


    TY 2020 OtherExpensesSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUTO EXPENSE 1,474 0   1,474
    OFFICE SUPPLIES 493 0   493
    TELEPHONE 970 0   970
    INSURANCE 5,643 0   5,643
    OTHER EXPENSES 12,667 0   12,667


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT FEES 183,353 183,353   0


    TY 2020 TaxesSchedule
    Name:
    DOROTHY B DAVIS FOUNDATION
    EIN:
    47-2493491
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 6,793 6,793   0
    PAYROLL TAXES 11,147 557   10,590