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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
DIANA DAVIS SPENCER FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)3 BETHESDA METRO CENTER 118
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BETHESDA, MD20814
A Employer identification number

20-3672969
B Telephone number (see instructions)

(301) 961-4000
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$1,510,145,435J 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 27,535 27,535  
4 Dividends and interest from securities... 20,459,442 22,453,805  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 10,933,892
b Gross sales price for all assets on line 6a 288,080,579
7 Capital gain net income (from Part IV, line 2)... 25,926,774
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)....... Click to see attachment 27,405 1,461,565  
12 Total. Add lines 1 through 11........ 31,448,274 49,869,679  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 2,049,314 993,381   993,381
14 Other employee salaries and wages...... 1,050,698 506,380   506,380
15 Pension plans, employee benefits....... 716,638 358,698   358,698
16a Legal fees (attach schedule)......... Click to see attachment 950,478 95,048   899,964
b Accounting fees (attach schedule)....... Click to see attachment 306,263 163,306   163,306
c Other professional fees (attach schedule).... Click to see attachment 3,796,072 3,351,353   347,729
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,492,844 74,406   74,406
19 Depreciation (attach schedule) and depletion... 231,910 0  
20 Occupancy.............. 194,546 0   197,122
21 Travel, conferences, and meetings....... 82,690 0   81,476
22 Printing and publications.......... 8,429 0   2,337
23 Other expenses (attach schedule)....... Click to see attachment 304,312 4,566,303   179,958
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 11,184,194 10,108,875   3,804,757
25 Contributions, gifts, grants paid....... 53,993,422 55,746,195
26 Total expenses and disbursements. Add lines 24 and 25 65,177,616 10,108,875   59,550,952
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -33,729,342
b Net investment income (if negative, enter -0-) 39,760,804
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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.............      
2 Savings and temporary cash investments......... 183,851,636 92,742,133 92,742,133
3 Accounts receivable bullet27,405
Less: allowance for doubtful accounts bullet     27,405 27,405
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.......... 553,008 1,053,808 1,053,808
10a Investments—U.S. and state government obligations (attach schedule) 247,355,441 Click to see attachment186,001,321 186,001,321
b Investments—corporate stock (attach schedule)....... 232,791,512 Click to see attachment279,117,148 279,117,148
c Investments—corporate bonds (attach schedule)....... 325,425,709 Click to see attachment310,524,323 310,524,323
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 485,270,168 Click to see attachment639,732,878 639,732,878
14 Land, buildings, and equipment: basis bullet2,156,309
Less: accumulated depreciation (attach schedule) bullet1,285,375 1,214,336 Click to see attachment870,934 870,934
15 Other assets (describe bullet) Click to see attachment4,903 Click to see attachment75,485 Click to see attachment75,485
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,476,466,713 1,510,145,435 1,510,145,435
Liabilities 17 Accounts payable and accrued expenses.......... 614,270 1,161,117
18 Grants payable................. 67,333,465 65,180,692
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 attachment2,887,892 Click to see attachment3,926,696
23 Total liabilities (add lines 17 through 22)......... 70,835,627 70,268,505
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........... 1,405,631,086 1,439,876,930
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 1,405,631,086 1,439,876,930
30 Total liabilities and net assets/fund balances (see instructions). 1,476,466,713 1,510,145,435
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
1,405,631,086
2
Enter amount from Part I, line 27a .....................
2
-33,729,342
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
67,975,186
4
Add lines 1, 2, and 3 ..........................
4
1,439,876,930
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
1,439,876,930
Form 990-PF (2021)
Form 990-PF (2021)
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 PARTNERSHIP ST CAPITAL P    
b PARTNERSHIP LT CAPITAL P    
c PARTNERSHIP 1231 GAIN P    
d PUBLICLY TRADED SECURITIES      
e PUBLICLY TRADED SECURITIES      
(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 6,114,702     6,114,702
b 8,800,683     8,800,683
c 75,468     75,468
d 8,621,575   5,838,998 2,782,577
e 264,468,151   256,314,807 8,153,344
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       6,114,702
b       8,800,683
c       75,468
d       2,782,577
e       8,153,344
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 25,926,774
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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........................... 3 552,675
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- ..... 5 552,675
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 400,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 505,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 905,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 6,107
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 10 346,218
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet0 RefundedBullet 11 346,218
Part VI-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 changesClick to see attachment....
3
Yes
 
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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 XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletDE
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.DDSFOUNDATION.ORG
    14
    The books are in care ofbulletCAROLE FEATHERSTONE Telephone no.bullet (301) 961-4000

    Located atbullet3 BETHESDA METRO CENTER 118BETHESDAMD ZIP+4bullet20814
    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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
    Yes
     
    c
    .........bullet
    d
    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? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    DIANA DAVIS SPENCER EXECUTIVE CHAIRMAN
    40.00     		726,546 46,869 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    ABBY SPENCER MOFFAT CEO & PRESIDENT
    40.00     		709,000 60,118 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    KIMBERLY F LAMANNA TRUSTEE
    1.00     		0 0 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    HARRISON HOWARD TRUSTEE
    1.00     		30,000 0 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    CAROLE A FEATHERSTONE CHIEF FINANCIAL OFFICER
    40.00     		620,029 20,306 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    CHRISTOPHER BURN AUDIT & INVESTMENT COMMITTEE MEMBER
    12.00     		170,000 0 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    JOHN RICHARDSON AUDIT & INVESTMENT COMMITTEE MEMBER
    1.00     		50,000 0 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    RICHARD PAINTER AUDIT & INVESTMENT COMMITTEE MEMBER
    1.00     		50,000 0 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    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
    NICOLE K SHAW SENIOR PROGRAM MANAG
    40.00     		236,934 100,567 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    MARY HAMILTON PROJECT MANAGER
    40.00     		196,451 83,493 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    YHEIZZI OWEN GRANTS MANAGER
    40.00     		158,729 88,951 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    ELIZABETH SMIROLDO SENIOR RESEARCH ANAL
    40.00     		184,800 43,848 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    DEBORA MARTIN SENIOR EXECUTIVE ASS
    40.00     		128,800 53,668 0
    3 BETHESDA METRO CENTER
    BETHESDA,MD20814
    Total number of other employees paid over $50,000...................bullet 2
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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 GRAYSTONE INVESTMENT ADVISORS 972,816
    12505 PARK POTOMAC AVENUE 420
    POTOMAC,MD20854
    HAMLIN CAPITAL MANGEMENT LLS INVESTMENT ADVISORS 859,568
    640 FIFTH AVENUE 11TH FLOOR
    NEW YORK,NY10019
    JONES DAY LEGAL 491,207
    PO BOX 7805 BEN FRANKLIN STATION
    WASHINGTON,DC20044
    CAMERON LLP LEGAL 388,902
    818 CONNECTICUT AVE NW STE 900
    WASHINGTON,DC20006
    CLIFTONLARSONALLEN LLP ACCOUNTING SERVICES 289,169
    220 6TH STREET SUITE 300
    MINNEAPOLIS,MN55402
    Total number of others receiving over $50,000 for professional services.............bullet2
    Part VIII-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 VIII-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 (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    1,293,104,031
    b
    Average of monthly cash balances.......................
    1b
    172,949,634
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,466,053,665
    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
    1,466,053,665
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    21,990,805
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    1,444,062,860
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    72,203,143
    Part X
    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 IX, line 6..................
    1
    72,203,143
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    552,675
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    127,219
    c
    Add lines 2a and 2b............................
    2c
    679,894
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    71,523,249
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    27,405
    5
    Add lines 3 and 4............................
    5
    71,550,654
    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 XII, line 1 ...
    7
    71,550,654
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 71,550,654
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 28,921,755
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 28,921,755
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 59,550,952
    a Applied to 2020, 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 2021 distributable amount..... 59,550,952
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 11,999,702 11,999,702
    (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 16,922,053
    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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		16,922,053
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    ACTON ACADEMY FOUNDATION
    2422 K STREET NW
    WASHINGTON,DC20037     		  PUBLIC CHARITY THE ACTON ACADEMY GROWTH AND ENTREPRENEURSHIP FUND 50,000
    AFTER-SCHOOL ALL-STARS
    1331 H STREET NW STE 1100
    WASHINGTON,DC20005     		  PUBLIC CHARITY TOWARDS THE DC CAPACITY BUILDING AND WORKFORCE DEVELOPMENT PROJECT 250,000
    AID TO THE CHURCH IN NEED
    725 LEONARD STREET 3RD FLOOR
    BROOKLYN,NY11222     		  PUBLIC CHARITY TOWARDS GENERAL SUPPORT 5,000
    AMERICAN ENDEAVOR INC
    3407 NORTH SALFORD BOULEVARD
    NORTH PORT,FL34286     		  PUBLIC CHARITY PROCLAIMING THE FORTITUDE OF THE AMERICAN SPIRIT PROJECT 20,000
    AMERICAN STRATEGY GROUP THE (CLAREMONT STRATEGY GROUP)
    937 W FOOTHILL BLVD SUITE C
    CLAREMONT,CA91711     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 200,000
    AMERICAN STUDIES CENTER FBO AMERICAN VETERANS CENTER
    1100 N GLEBE RD STE 910
    ARLINGTON,VA22201     		  PUBLIC CHARITY 2021 AMERICAN VETERANS CENTER LEGACY PROJECT 50,000
    AMERICAN SWISS FOUNDATION INC
    271 MADISON AVENUE SUITE 1403
    NEW YORK,NY10016     		  PUBLIC CHARITY AMERICAN SWISS FOUNDATION ALUMNI RELATIONS EXPENSES AND COVID-19 RELATED EXPENSES 225,000
    AMERICAS FUTURE FOUNDATION
    1633 CONNECTICUT AVE NW NO 300
    WASHINGTON,DC20009     		  PUBLIC CHARITY THE ACTIVATING YOUNG ADVOCATES FOR LIBERTY PROJECT 160,000
    ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
    1179 HAMMOND LANE
    ODENTON,MD21113     		  GOVERNMENT TO BE ALLOCATED EXCLUSIVELY AS FOLLOWS; $21,000 TOWARDS THE COVID-19 SCHOOL IMPROVEMENT PROJECT AND $4,000 TOWARDS GENERAL SUPPORT TO ENRICH AND REWARD STUDENTS. 25,000
    ASIA AMERICA INITIATIVE
    1521 16TH STREET NW
    WASHINGTON,DC20036     		  PUBLIC CHARITY EXPANDING COMMUNITY STABILIZATION DURING THE COVID PANDEMIC PROJECT 375,000
    ATLAS ECONOMIC RESEARCH FOUNDATION
    4075 WILSON BLVD NO 310
    ARLINGTON,VA22203     		  PUBLIC CHARITY AFGHANISTAN FREEDOM CHAMPIONS PROJECT 50,000
    BAR HARBOR FOOD PANTRY
    36 MOUNT DESERT STREET
    BAR HARBOR,ME04609     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    BECKET FUND
    1200 NEW HAMPSHIRE AVE
    WASHINGTON,DC20036     		  PUBLIC CHARITY STRATEGIC CAPACITY BUILDING FOR THE NEXT GENERATION OF SCHOLARS AND PRACTITIONERS PROJECT 100,000
    BEST FRIENDS FOUNDATION
    4 LAUREL PARKWAY
    CHEVY CHASE,MD20815     		  PRIVATE FOUNDATION HOW TO BE YOUR BEST SELF: PROMOTING SOCIAL-EMOTIONAL LEARNING. 300,000
    BETHESDA CHEVY CHASE RESCUE SQUAD
    5020 BATTERY LANE
    BETHESDA,MD20814     		  PUBLIC CHARITY TO BE ALLOCATED EXCLUSIVELY AS FOLLOWS; $59,000 TOWARDS THE FIRE/RESCUE OPERATIONS PROGRAM AND $1,000 TOWARDS GENERAL OPERATING SUPPORT 60,000
    BULLIS SCHOOL
    10601 FALLS ROAD
    POTOMAC,MD20854     		  PUBLIC CHARITY FINANCIAL AID PROGRAM 100,000
    CALVIN COOLIDGE PRESIDENTIAL FOUNDATION
    BOX 97
    PLYMOUTH,VT05056     		  PUBLIC CHARITY TOWARDS THE CALVIN COOLIDGE SCHOLARSHIP PROGRAM 100,000
    CAPITAL AREA FOOD BANK
    4900 PUERTO RICO AVE NE
    WASHINGTON,DC20017     		  PUBLIC CHARITY TOWARDS INCREASING FOOD ACCESS IN GREATER WASHINGTON, DC THROUGH EMERGENCY RESPONSE AND POLICY PROGRAMS 150,000
    CAPITAL RESEARCH CENTER
    1513 16TH STREET NW
    WASHINGTON,DC20036     		  PUBLIC CHARITY TOWARDS THE CAPITAL RESEARCH CORE PROGRAMS AND IMPACT VIDEO PROGRAMS 350,000
    CENTER FOR A SECURE FREE SOCIETY (SFS)
    1440 G ST NW
    WASHINGTON,DC20005     		  PUBLIC CHARITY COMBATTING DISINFORMATION PROJECT 100,000
    CENTER FOR EDUCATION REFORM
    1455 PENNSYLVANIA AVE NW SUITE 250
    WASHINGTON,DC20004     		  PUBLIC CHARITY PARENTAL CHOICE PROJECTS 250,000
    CHAPEL HAVEN INCORPORATED
    1040 WHALLEY AVENUE
    NEW HAVEN,CT06515     		  PUBLIC CHARITY COVID-19 RAINY DAY FUND 500,000
    CHAPEL HAVEN INCORPORATED
    1040 WHALLEY AVENUE
    NEW HAVEN,CT06515     		  PUBLIC CHARITY ANNUAL FUND 100,000
    CHAPEL HAVEN INCORPORATED
    1040 WHALLEY AVENUE
    NEW HAVEN,CT06515     		  PUBLIC CHARITY BEST BUDDIES PROJECT 40,000
    CHAPEL HAVEN INCORPORATED
    1040 WHALLEY AVENUE
    NEW HAVEN,CT06515     		  PUBLIC CHARITY FOR A FROZEN YOGURT/ICE CREAM MACHINE AND TRAINING ON THIS EQUIPMENT 20,000
    CODE 3 ASSOCIATION
    480 MALCOLM RD
    VIENNA,VA22180     		  PUBLIC CHARITY TOWARDS THE UNIVERSITY STARTUPS PROJECT 55,000
    COLLEGE OF THE ATLANTIC
    105 EDEN ST
    BAR HARBOR,ME04609     		  PUBLIC CHARITY THE BROAD REACH CAMPAIGN, AS DESCRIBED IN THE APPLICATION AND AGREEMENT. 50,000
    COLLEGE OF THE ATLANTIC
    105 EDEN ST
    BAR HARBOR,ME04609     		  PUBLIC CHARITY THE BROAD REACH CAMPAIGN, AS DESCRIBED IN THE APPLICATION AND AGREEMENT. 50,000
    COLLEGIATE DIRECTIONS INC
    4827 RUGBY AVE STE 001
    BETHESDA,MD20814     		  PUBLIC CHARITY TOWARDS PROVIDING COMPREHENSIVE COLLEGE ACCESS AND SUCCESS SUPPORT PROJECTS FOR DC AREA YOUTH 300,000
    CULTURE WISE STUDIES INC
    4073 MISSION OAKS BLVD
    CAMARILLO,CA93012     		  PUBLIC CHARITY BUILDING CHARACTER DEVELOPMENT IN FUTURE GENERATIONS BY PROMOTING CONSERVATIVE, FAMILY VALUES THROUGH THE MASS MEDIA 250,000
    DARTMOUTH COLLEGE
    7 LEBANON STREET SUITE 302 6015
    HANOVER,NH03755     		  PUBLIC CHARITY TO SUPPORT OF THE POSTDOCTORAL FELLOWS PROGRAM IN US FOREIGN POLICY AND INTERNATIONAL SECURITY, AN INTERDISCIPLINARY POSTDOCTORAL FELLOWSHIP PROGRAM AIMED AT BRINGING THE BEST SCHOLARS TO THE COLLEGE FOR A YEAR OF TEACHING, STUDY, RESEARCH AND ACADEMIC COLLABORATION ON ISSUES OF VITAL REAL WORLD IMPORTANCE TO US FOREIGN POLICY AND INTERNATIONAL 300,000
    DONORS TRUST
    1800 DIAGONAL ROAD SUITE 280
    ALEXANDRIA,VA22314     		  PUBLIC CHARITY DONOR ADVISED FUND CONTRIBUTION 7,000,000
    DONORS TRUST INC
    1800 DIAGONAL ROAD SUITE 280
    ALEXANDRIA,VA22314     		  PUBLIC CHARITY UPGRADES FOR DONORS TRUST INFRASTRUCTURE PROJECT 250,000
    EARTH UNIVERSITY FOUNDATION
    151 ELLIS STREET NE FLOOR 1 STE 133
    ATLANTA,GA30303     		  PUBLIC CHARITY TO BE ALLOCATED EXCLUSIVELY AS THE FOLLOWING: $100,000 EXCLUSIVELY TOWARDS THE EARTH UNIVERSITY EDUCATING ENTREPRENEURIAL LEADERS FOR A SUSTAINABLE AND PROSPEROUS FUTURE PROJECT; AND $25,000 EXCLUSIVELY TOWARDS THE EARTH UNIVERSITY FOUNDATION ENDOWMENT 125,000
    ENCOUNTER FOR CULTURE AND EDUCATION
    900 BROADWAY SUITE 601
    NEW YORK,NY10003     		  PRIVATE OPERATING FO GENERAL SUPPORT AND YOUTH OUTREACH PROGRAMS 30,000
    EPISCOPAL DIOCESE OF WASHINGTON FBO BISHOP WALKER SCHOOL FOR BOYS
    1801 MISSISSIPPI AVE SE
    WASHINGTON,DC20020     		  PUBLIC CHARITY TOWARDS GENERAL SUPPORT IN HONOR OF WILLIAM HAGUE 25,000
    ESSENTIALS IN EDUCATION FBO NATIONAL MARRIAGE WEEK USA
    115 EAST 62ND STREET
    NEW YORK,NY10065     		  PUBLIC CHARITY NATIONAL MARRIAGE WEEK USA 200,000
    FOR LOVE OF CHILDREN
    1301 PENNSYLVANIA AVE SE
    WASHINGTON,DC20003     		  PUBLIC CHARITY THE NEIGHBORHOOD TUTORING PROGRAM 25,000
    FOUNDATION FOR AMERICAN CONTENT AND ENTERTAINMENT FBO BOLDTV
    6740 COMMERCE RD
    WEST BLOOMFIELD,MI48324     		  PUBLIC CHARITY TO SUPPORT DIGITAL MEDIA PROJECTS 500,000
    FOUNDATION FOR CULTURAL REVIEW INC
    900 BROADWAY STE 602
    NEW YORK,NY10003     		  PUBLIC CHARITY PROGRAM SUPPORT AND 40TH ANNIVERSARY PROJECTS 30,000
    FOUNDATION FOR ECONOMIC EDUCATION
    1819 PEACHTREE ROAD NE SUITE 300
    ATLANTA,GA30309     		  PUBLIC CHARITY REVOLUTION OF ONE AND FEE EN ESPAOL PROJECT 150,000
    FOUNDATION FOR INDIVIDUAL RIGHTS IN EDUCATION INC
    510 WALNUT STREET STE 1250
    PHILADELPHIA,PA19106     		  PUBLIC CHARITY TOWARDS GENERAL OPERATIONS 200,000
    FREE TO CHOOSE NETWORK
    2002 FILMORE AVENUE
    ERIE,PA16506     		  PUBLIC CHARITY TO SUPPORT GRANTEES PRODUCTION AND DISTRIBUTION OF NEW VIDEO AND ONLINE MEDIA CONTENT TO EDUCATE STUDENTS AND THE GENERAL PUBLIC IN THE UNITED STATES ON THE FUNDAMENTALS OF CIVICS AS ROOTED IN AMERICAS FOUNDING PRINCIPALS. CIVICS PROJECTS WITH JUDGE DOUGLAS GINSBURG. 100,000
    FREEDOM ALLIANCE
    22570 MARKEY COURT SUITE 240
    DULLES,VA20166     		  PUBLIC CHARITY TOWARDS THE FREEDOM ALLIANCE SCHOLARSHIP FUND & STUDENT OUTREACH PROJECT 200,000
    FUND FOR AMERICAN STUDIES
    1706 NEW HAMPSHIRE AVENUE NW
    WASHINGTON,DC20009     		  PUBLIC CHARITY INSTITUTE FOR LEADERSHIP IN THE AMERICAS, THE ROBERT NOVAK JOURNALISM FELLOWSHIP PROGRAM, AND THE CREATION OF THE DIANA DAVIS SPENCER INTERNATIONAL AFFAIRS FELLOWSHIP FOR STUDENTS ATTENDING THE INSTITUTE OF ECONOMICS AND INTERNATIONAL AFFAIRS 300,000
    GATESTONE INSTITUTE
    14 E 60TH STREET SUITE 705
    NEW YORK,NY10022     		  PUBLIC CHARITY GATESTONE FELLOWS AND WRITERS PROJECT 100,000
    GCSEN FOUNDATION
    430 OLD NEIGHBORHOOD RD
    KINGSTON,NY12401     		  PUBLIC CHARITY WHEATON COLLEGE CAMPUS CORE PROGRAM SUPPORT 200,000
    GCSEN FOUNDATION
    430 OLD NEIGHBORHOOD RD
    KINGSTON,NY12401     		  PUBLIC CHARITY WHEATON COLLEGE CAMPUS CORE PROGRAM SUPPORT 100,000
    GCSEN FOUNDATION
    430 OLD NEIGHBORHOOD RD
    KINGSTON,NY12401     		  PUBLIC CHARITY TOWARD THE GCSEN WHEATON COLLEGE (MA) CAMPUS PROGRAM 21-22 PROJECT 500,000
    GEORGE MASON UNIVERSITY
    4400 UNIVERSITY DR MS1A3
    FAIRFAX,VA22030     		  PUBLIC CHARITY DIANA DAVIS SPENCER FOUNDATION SCHOLARSHIP PROGRAM AT THE SCHAR SCHOOL 450,000
    GEORGE MASON UNIVERSITY
    4400 UNIVERSITY DR MS1A3
    FAIRFAX,VA22030     		  PUBLIC CHARITY $175,000 PER YEAR FOR THREE (3) YEARS TOWARDS JUDICIAL SEMINARS ON CAPITALISM, FREEDOM AND PROSPERITY; AND $25,000 PER YEAR FOR THREE (3) YEARS TOWARDS GENERAL SUPPORT OF THE GEORGE MASON LAW AND ECONOMICS CENTER 200,000
    GLOBAL GOOD FUND
    3066 HOBBS ROAD
    GLENWOOD,MD21738     		  PUBLIC CHARITY TOWARDS GENERAL SUPPORT 10,000
    GOVERNMENT ACCOUNTABILITY INSTITUTE
    1414 PIEDMONT DRIVE EAST
    TALLAHASSEE,FL32308     		  PUBLIC CHARITY TO BE ALLOCATED EXCLUSIVELY AS FOLLOWS: $200,000 TOWARDS RESEARCH PROGRAM INITIATIVES; AND $175,000 TOWARDS MEDIA DEPARTMENT INITIATIVES 375,000
    HAZELDEN BETTY FORD FOUNDATION
    15251 PLEASANT VALLEY ROAD
    CENTER CITY,MN55012     		  PUBLIC CHARITY TOWARDS THE BUILDING CAPACITY TO MEET THE NEEDS OF FAMILIES AFFECTED BY ADDICTION INITIATIVES 300,000
    HERITAGE FOUNDATION
    214 MASSACHUSETTS AVE NE
    WASHINGTON,DC20002     		  PUBLIC CHARITY TOWARDS THE ELECTION INTEGRITY, MARKETING, DEVELOPMENT AND CONVENING THOSE UNDER 40 PROGRAMS. 1,500,000
    HIRE HEROES USA
    1360 UNION HILL ROAD STE 2A
    ALPHARETTA,GA30004     		  PUBLIC CHARITY INDEPENDENCE PROJECT 543,195
    INDEPENDENT WOMENS FORUM (IWF)
    4 WEEMS LANE
    WINCHESTER,VA22601     		  PUBLIC CHARITY TOWARDS THE WINNING WOMEN PROGRAM 500,000
    INFORMING AMERICA INC
    1747 PENNSYLVANIA AVE NW SUITE 1000
    WASHINGTON,DC20006     		  PUBLIC CHARITY GENERAL OPERATION SUPPORT 1,500,000
    INOVA HEALTH SYSTEM FOUNDATION
    8110 GATEHOUSE RD STE 200
    FALLS CHURCH,VA22042     		  TYPE II SUPPORTING O TEAM MEMBER COMPASSION AND RESILIENCE PROGRAM 100,000
    INSTITUTE FOR JUSTICE
    901 N GLEBE ROAD SUITE 900
    ARLINGTON,VA22203     		  PUBLIC CHARITY TOWARDS THE PRESERVING THE AMERICAN DREAM THROUGH STRATEGIC PUBLIC INTEREST LITIGATION 150,000
    INSTITUTE FOR RESPONSIBLE CITIZENSHIP INC
    1227 25TH STREET NW 6TH FLOOR
    WASHINGTON,DC20037     		  PUBLIC CHARITY TOWARDS GENERAL PROGRAM SUPPORT 500,000
    INTERCOLLEGIATE STUDIES INSTITUTE INC
    3901 CENTERVILLE RD
    WILMINGTON,DE19807     		  PUBLIC CHARITY DIANA DAVIS SPENCER FOUNDATION DEBATE SERIES 200,000
    INTERNATIONAL SPY MUSEUM
    700 LENFANT PLAZA SW
    WASHINGTON,DC20024     		  PUBLIC CHARITY TOWARDS YOUTH EDUCATION PROGRAMS AND EXPANDING OUTREACH ALONGSIDE WITH CODE 3 ASSOCIATION 200,000
    INVESTIGATIVE PROJECT ON TERRORISM FOUNDATION
    5614 CONNECTICUT AVE NW NO 341
    WASHINGTON,DC20015     		  PUBLIC CHARITY FOR MULTIMEDIA PRODUCTION DIVISION PROJECTS 225,000
    IONA SENIOR SERVICES
    4125 ALBEMARLE STREET NW
    WASHINGTON,DC20016     		  PUBLIC CHARITY IONA SENIOR SERVICES, MEMORIAL TRIBUTE FOR ANN H. WINSOR 5,000
    ISLAND HOUSING TRUST
    1366 STATE HIGHWAY 102
    BAR HARBOR,ME04609     		  PUBLIC CHARITY TO SUPPORT YEAR ROUND HOUSING OPPORTUNITIES FOR PEOPLE WORKING ON MOUNT DESERT ISLAND (MDI), MAINE. ISLAND HOUSING 50,000
    ISLAND READERS AND WRITERS AN INITIATIVE FOR MAINE CHILDREN
    246 MAIN STREET
    SOUTHWEST HARBOR,ME04679     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 30,000
    JACKSON LABORATORY
    10 DISCOVERY DRIVE
    FARMINGTON,CT06032     		  PUBLIC CHARITY VISION RESEARCH PROJECT 2,000,000
    JAMES WILSON INSTITUTE FOR NATURAL RIGHTS AND THE AMERICAN FOUNDING
    722 12TH STREET NW FOURTH FLOOR
    WASHINGTON,DC20005     		  PUBLIC CHARITY JAMES WILSON INSTITUTE: A SECOND FOUNDING PROJECT 100,000
    JEWISH INSTITUTE FOR NATIONAL SECURITY AFFAIRS (JINSA)
    1101 14TH AVENUE NW NO 1030
    WASHINGTON,DC20008     		  PUBLIC CHARITY EDUCATIONAL MILITARY LEADERSHIP PROGRAM 300,000
    KEYSTONE SERVICE SYSTEMS INC
    1078 GRAVEL HILL ROAD
    GRANTVILLE,PA17028     		  PUBLIC CHARITY TOWARDS THE SUSQUEHANNA SERVICE DOGS INFRASTRUCTURE AND PROFESSIONAL DEVELOPMENT PROJECTS 100,000
    KING BAUDOUIN FOUNDATION UNITED STATES
    10 ROCKEFELLER PLAZA 16TH FLOOR
    NEW YORK,NY10020     		  PUBLIC CHARITY ENTREPRENEURIAL YOUTH IN BRUSSELS 12,000
    LAND CONSERVATION ASSISTANCE NETWORK
    106 LAFAYETTER STREET SUITE 3G
    YARMOUTH,ME04096     		  PUBLIC CHARITY THE GEORGIA LANDCAN, AN AMERICAN VALUE PROPOSITION 75,000
    LAW ENFORCEMENT LEGAL DEFENSE FUND
    2560 HUNTINGTON AVE NO 100
    ALEXANDRIA,VA22303     		  PUBLIC CHARITY DIANA DAVIS SPENCER FOUNDATION SCHOLARSHIP PROGRAM AT THE SCHAR SCHOOL 300,000
    LAWYERS DEMOCRACY FUND
    56295 LITTLE MONITEAU ROAD
    CALIFORNIA,MO65018     		  NC EDUCATIONAL INITIATIVES, PUBLIC INTEREST LITIGATION AND NONPARTISAN POLICY RESEARCH ACTIVITIES IN CONNECTION WITH ITS ELECTION INTEGRITY INVESTMENT PROJECT, WHICH AIMS TO EDUCATE THE AMERICAN PUBLIC ON THE ISSUES OF VOTING IRREGULARITIES AND ELECTORAL SYSTEM INTEGRITY 275,000
    LEADERSHIP INSTITUTE
    1101 NORTH HIGHLAND STREET
    ARLINGTON,VA22201     		  PUBLIC CHARITY TOWARD THE NORMANDY PROJECT: CONSERVATIVES LIBERATING COLLEGE CAMPUSES 100,000
    LEUKEMIA & LYMPHOMA SOCIETY
    3 INTERNATIONAL DRIVE SUITE 200
    RYE BROOK,NY10573     		  PUBLIC CHARITY TO SUPPORT FARA MOSKOWITZ FUNDRAISING (THE MAN & WOMAN OF THE YEAR CAMPAIGN) 1,000
    LIFEFLIGHT FOUNDATION
    13 MAIN ST 2ND FL
    CAMDEN,ME04843     		  PUBLIC CHARITY NEXT GENERATION MEDICAL HELICOPTERS PROJECT 200,000
    LINCOLN NETWORK INC
    2443 FILLMORE ST 380-3386
    SAN FRANCISCO,CA94115     		  PUBLIC CHARITY ASSESSING CHINA AND CYBER SECURITY RISKS PROJECT 100,000
    MAINE SEACOAST MISSION
    127 WEST STREET
    BAR HARBOR,ME04609     		  PUBLIC CHARITY TOWARDS THE YOUTH DEVELOPMENT, FAMILY SUPPORT, FOOD SECURITY, AND HEALTH 250,000
    MAPLEBROOK SCHOOL INC
    5142 ROUTE 22
    AMENIA,NY12501     		  PUBLIC CHARITY TOWARDS GENERAL SUPPORT 100,000
    MEDIA RESEARCH CENTER INC
    1900 CAMPUS COMMONS DRIVE 600
    RESTON,VA20191     		  PUBLIC CHARITY $2,400,000 FOR THE FREE SPEECH AMERICA AND $600,000 FOR CNS NEWS. 3,000,000
    MIDDLE EAST CHILDREN'S INSTITUTE INC
    63 FOREST AVENUE SUITE 5B
    LOCUST VALLEY,NY11560     		  PUBLIC CHARITY TO THE CHILDREN AND WOMEN IN CRISIS INITIATIVE 50,000
    MIDDLE EAST MEDIA AND RESEARCH INSTITUTE INC
    1819 L STREET NW 5TH FLOOR
    WASHINGTON,DC20036     		  PUBLIC CHARITY GENERAL OPERATIONS AND THE RUSSIA MEDIA STUDIES PROJECT 500,000
    MIDDLE EAST MEDIA AND RESEARCH INSTITUTE INC
    1819 L STREET NW 5TH FLOOR
    WASHINGTON,DC20036     		  PUBLIC CHARITY TOWARDS THE CHINA MEDIA STUDIES PROJECT. 500,000
    MONPELIER FOUNDATION
    13384 LAUNDRY ROAD
    MONTPELIER STATION,VA22957     		  PUBLIC CHARITY THE POWER WHICH KNOWLEDGE GIVES PROJECT 25,000
    MOUNT DESERT FESTIVAL OF CHAMBER MUSIC INC
    PO BOX 87
    MOUNT DESERT,ME04640     		  PUBLIC CHARITY TOWARDS INCREASING ONLINE PRESENCE THROUGH PRODUCING, STREAMING, & POSTING CONCERT RECORDINGS 15,000
    MOVING PICTURE INSTITUTE
    375 GREENWICH ST
    NEW YORK,NY10013     		  PUBLIC CHARITY SUPPORTING THE PRODUCTION BUDGETS FOR MPIS ORIGINAL PRODUCTION FILMS 400,000
    MT DESERT ISLAND HOSPITAL
    10 WAYMAN LANE
    BAR HARBOR,ME04609     		  PUBLIC CHARITY GENERAL SUPPORT 300,000
    MYSA SCHOOL
    1500 HARVARD ST NW
    WASHINGTON,DC20009     		  PUBLIC CHARITY SCHOLARSHIPS 800,000
    NATIONAL ASSOCIATION OF SCHOLARS
    420 MADISON AVE 7TH FL
    NEW YORK,NY10017     		  PUBLIC CHARITY TOWARDS FOREIGN INFLUENCE & ACADEMIC FREEDOM PROJECT 200,000
    NATIONAL FATHERHOOD INITIATIVE
    12410 MILESTONE CENTER DRIVE SUITE
    600
    GERMANTOWN,MD20876     		  PUBLIC CHARITY TOWARDS THE EXPAND THE EVIDENCE-BASED 24/7 DAD PROGRAM IN THE WESTERN U.S. 60,000
    NATIONAL FOREST FOUNDATION
    27 FORT MISSOULA RD SUITE 3
    MISSOULA,MT59804     		  PUBLIC CHARITY FOR GENERAL SUPPORT IN HONOR OF TIM SCHIEFFELIN FOR HIS CONTINUED EFFORTS AND DEDICATION TO THE NATIONAL FOREST FOUNDATION 5,000
    NATIONAL HISTORY DAY
    4511 KNOX ROAD SUITE 205
    COLLEGE PARK,MD20740     		  PUBLIC CHARITY NATIONAL HISTORY DAY VIRTUAL NATIONAL COMPETITION 150,000
    NATIONAL PARK TRUST
    401 EAST JEFFERSON STREET SUITE 207
    ROCKVILLE,MD20850     		  PUBLIC CHARITY TOWARDS THE ENGAGING MILITARY FAMILIES IN PUBLIC LANDS INITIATIVE 50,000
    NATIONAL REHABILITATION HOSPITAL INC (MEDSTAR NATIONAL REHABILITATION NETW
    102 IRVING STREET NW
    WASHINGTON,DC20016     		  PUBLIC CHARITY TOWARDS THE FUNCTIONAL ELECTRICAL STIMULATION BIKE PROJECT & NEUROLOGIC MUSIC WELLNESS PROGRAM. 100,000
    NATIONAL RIGHT TO WORK LEGAL DEFENSE & EDUCATION FOUNDATION INC
    8001 BRADDOCK RD NO 600
    SPRINGFIELD,VA22160     		  PUBLIC CHARITY TOWARDS STRATEGIC LITIGATION, PUBLIC INFORMATION, AND EDUCATION PROGRAMS 150,000
    NATIONAL TAXPAYERS UNION FOUNDATION
    122 C STREET NW SUITE 650
    WASHINGTON,DC20001     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 150,000
    NATIONAL TRUST FOR HISTORIC PRESERVATION
    2600 VIRGINIA AVENUE NW 1100
    WASHINGTON,DC20037     		  PUBLIC CHARITY TOWARDS GENERAL OPERATING SUPPORT 10,000
    NEIGHBORHOOD HOUSE CLUB
    PO BOX 332 1 KIMBALL ROAD
    NORTHEAST HARBOR,ME04662     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT AND THE GREAT HALL LIGHTING IMPROVEMENT PROJECT 100,000
    NETWORK FOR TEACHING ENTREPRENEURSHIP
    120 WALL STREET 18TH FLOOR
    NEW YORK,NY10005     		  PUBLIC CHARITY A $2 MILLION FUNDRAISING CHALLENGE FOR NFTE PER THE TERMS IN THE AGREEMENT 2,000,000
    NETWORK OF ENLIGHTENED WOMEN INC
    1360 EAST CAPITOL STREET NE
    WASHINGTON,DC20003     		  PUBLIC CHARITY EDUCATING AND TRAINING AMERICAS PRO-LIBERTY LEADERS PROJECT 120,000
    NFTE NEW HAVEN CORPORATION
    1040 WHALLEY AVENUE
    NEW HAVEN,CT06515     		  PUBLIC CHARITY NFTE NEW HAVEN YOUTH ENTREPRENEURSHIP PROGRAM 45,000
    NORTHEAST HARBOR LIBRARY
    1 JOY RD
    NORTHEAST HARBOR,ME04662     		  PUBLIC CHARITY SCHOLARSHIP PROGRAM 25,000
    NORTHEAST HARBOR LIBRARY
    1 JOY RD
    NORTHEAST HARBOR,ME04662     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 10,000
    OPERA CLUB OF THE VILLAGES
    720 SAN MARINO DR
    LADY LAKE,FL32159     		  PUBLIC CHARITY FOR MUSIC SCHOLARSHIP FUND, IN MEMORY OF PAT PISCITELLI 5,000
    OPERATION OPPORTUNITY FOUNDATION DBA THE WARRIOR SCHOLAR PROJECT
    1012 14TH ST NW SUITE 1200
    WASHINGTON,DC20005     		  PUBLIC CHARITY TOWARDS 2021 BOOTCAMPS AND DIANA DAVIS SPENCER SCHOLARS FUND 250,000
    PACIFIC LEGAL FOUNDATION
    930 G STREET
    SACRAMENTO,CA95814     		  PUBLIC CHARITY TO SUPPORT LITIGATION, RESEARCH, LEGAL POLICY, AND OUTREACH PROGRAMS 100,000
    PACIFIC RESEARCH INSTITUTE FOR PUBLIC POLICY
    101 MONTGOMERY STREET SUITE 1300
    SAN FRANCISCO,CA94104     		  PUBLIC CHARITY TOWARDS THE 2021 HEALTH CARE COMMUNICATIONS STRATEGY PROJECT 75,000
    PARKINSON FOUNDATION OF THE NATIONAL CAPITAL AREA
    8830 CAMERON ST 201
    SILVER SPRING,MD20910     		  PUBLIC CHARITY GENERAL OPERATING IN MEMORY OF PHILIP PILLSBURY 5,000
    PENFAULKNER FOUNDATION
    6218 GEORGIA AVENUE NW UNIT 1062
    WASHINGTON,DC20011     		  PUBLIC CHARITY GENERAL SUPPORT 25,000
    PRAGER UNIVERSITY FOUNDATION
    15021 VENTURA BLVD 552
    SHERMAN OAKS,CA91403     		  PUBLIC CHARITY PRAGERU RESOURCES FOR EDUCATORS AND PARENTS PROGRAM 250,000
    RARE CROSSROADS INC
    3066 HOBBS ROAD
    GLENWOOD,MD21738     		  PUBLIC CHARITY AUTISM RESEARCH PROGRAM 100,000
    RISING TIDE CAPITAL
    384 MARTIN LUTHER KING DRIVE
    JERSEY CITY,NJ07305     		  PUBLIC CHARITY TOWARD NATIONAL REPLICATION, PROGRAM INNOVATION AND THOUGHT LEADERSHIP PROGRAM 800,000
    SAMARITAN'S PURSE
    801 BAMBOO RD
    BOONE,NC28607     		  PUBLIC CHARITY TORNADO DISASTER RELIEF 100,000
    SHALEM FOUNDATION
    845 THIRD AVENUE SIXTH FLOOR
    NEW YORK,NY10022     		  PUBLIC CHARITY MODERN MIDDLE EASTERN STUDIES PROGRAM 100,000
    SISTER STATES OF MARYLAND
    16 FRANCIS STREET
    ANNAPOLIS,MD21403     		  PUBLIC CHARITY MARYLAND SISTER STATES PROGRAM INITIATIVES 150,000
    SOCIETY OF THE FOUR ARTS
    100 FOUR ARTS PLAZA
    PALM BEACH,FL33480     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 25,000
    SPAULDING REHABILITATION HOSPITAL CORPORATION
    300 FIRST AVENUE
    CHARLESTOWN,MA02129     		  PUBLIC CHARITY THE JOHN MEANS SPENCER CAREGIVER AWARD AND THE NURSING PROFESSIONAL DEVELOPMENT PROGRAM. 110,000
    SPECIAL OPERATIONS WARRIOR FOUNDATION
    1137 MARBELLA PLAZA DRIVE
    TAMPA,FL33619     		  PUBLIC CHARITY DIANA DAVIS SPENCER ENDOWED SCHOLARSHIP 150,000
    SPEECH FIRST INC
    1300 I ST NW STE 400E
    WASHINGTON,DC20005     		  PUBLIC CHARITY STRATEGIC CAMPUS FREE SPEECH LITIGATION PROJECT 100,000
    STEPHEN SILLER TUNNEL TO TOWERS FOUNDATION
    2361 HYLAN BOULEVARD
    STATEN ISLAND,NY10306     		  PUBLIC CHARITY GENERAL OPERATING SUPPORT 5,000
    SUBURBAN HOSPITAL FOUNDATION INC
    8600 OLD GEORGETOWN ROAD
    BETHESDA,MD20814     		  TYPE I SUPPORTING OR TOWARDS THE SUBURBAN HOSPITAL NURSE RESIDENCY AND COVID19 COMMUNITY RAPID RESPONSE PROGRAM 200,000
    TENEO NETWORK INC
    2606 W 8TH ST
    AUSTIN,TX78703     		  PUBLIC CHARITY TENEO ACCELERATE PROGAM AND RETREAT SPONSORSHIP 225,000
    TEXAS A&M UNIVERSITY
    2132 ALLEN BUILDING 4420 TAMU
    COLLEGE STATION,TX77843     		  PUBLIC CHARITY CREATE A NEW WASHINGTON D.C.-BASED GRADUATE EDUCATION PROGRAM IN NATIONAL SECURITY AND INTELLIGENCE WITHIN TAMUS BUSH SCHOOL OF GOVERNMENT AND PUBLIC SERVICE 7,000,000
    THE SALVATION ARMY A GEORGIA CORPORATION
    2626 PENNSYLVANIA AVENUE NW
    WASHINGTON,DC20037     		  PUBLIC CHARITY TOWARDS RELIEF EFFORTS IN TEXAS 50,000
    UNITED SERVICE ORGANIZATION INC
    2111 WILSON BOULEVARD SUITE 1200
    ARLINGTON,VA22201     		  PUBLIC CHARITY TOWARDS THE USO TRANSITIONS INVESTING IN THE FUTURES OF AMERICA'S SERVICE MEMBERS AND MILITARY FAMILIES PROGRAM 250,000
    US FOUNDATION FOR THE COMMEMORATION OF THE WORLD WARS
    701 PENNSYLVANIA AVE NW 123
    WASHINGTON,DC20004     		  PUBLIC CHARITY TO INSTALL A NATIONAL WORLD WAR I MEMORIAL IN WASHINGTON, DC 250,000
    VICTIMS OF COMMUNISM MEMORIAL FOUNDATION INC
    300 NEW JERSEY AVENUE NW SUITE 900
    WASHINGTON,DC20001     		  PUBLIC CHARITY MARXISM IN AMERICA PROJECT: COUNTERING COMMUNIST INFLUENCE THROUGH PUBLIC EDUCATION, RESEARCH, AND POLICY STUDIES 700,000
    WASHINGTON TENNIS & EDUCATION FOUNDATION INC
    5220 16TH ST NW
    WASHINGTON,DC20011     		  PUBLIC CHARITY CHILDREN & YOUTH RESIDING IN LOW-INCOME DC COMMUNITIES PROJECT 100,000
    WHEATON COLLEGE
    26 EAST MAIN ST
    NORTON,MA02766     		  PUBLIC CHARITY TOWARD SCHOLARSHIP IN MEMORY OF DALE MARSHALL 5,000
    WHEATON COLLEGE
    26 EAST MAIN ST
    NORTON,MA02766     		  PUBLIC CHARITY TOWARDS THE WHEATON COLLEGE DISCOVERY CENTER. 5,000,000
    WHEATON COLLEGE
    26 EAST MAIN ST
    NORTON,MA02766     		  PUBLIC CHARITY ENDOWMENT FOR PROFESSORSHIP AND CHALLENGE GRANT 5,000,000
    WHITE HOUSE HISTORICAL ASSOCIATION
    1610 H STREET NW
    WASHINGTON,DC20006     		  PUBLIC CHARITY TOWARD THE DIANA DAVIS SPENCER FOUNDATION MEMBERSHIP FOR THE NATIONAL COUNCIL ON WHITE HOUSE HISTORY 25,000
    WOODROW WILSON INTERNATIONAL CENTER FOR SCHOLARS
    1300 PENNSYLVANIA AVE NW SUITE 8
    WASHINGTON,DC20004     		  PUBLIC CHARITY GETTING RUSSIA RIGHT: ADVANCING EXPERTISE ON RUSSIAN CHALLENGES TO U.S. NATIONAL SECURITY PROJECT 100,000
    WOODSON CENTER
    1625 K STREET NW
    WASHINGTON,DC20001     		  PUBLIC CHARITY 1776 UNITES PROJECT 250,000
    YALE NEW HAVEN HOSPITAL
    PO BOX 1849
    NEW HAVEN,CT06473     		  PUBLIC CHARITY GENERAL SUPPORT 100,000
    Total .................................bullet 3a 55,746,195
    bApproved for future payment
    FOUNDATION FIGHTING BLINDNESS
    7168 COLUMBIA GATEWAY DRIVE SUITE
    100
    COLUMBIA,MD21046     		  PUBLIC CHARITY ENHANCED TRANSLATION RESEARCH ACCELERATION PROGRAM & CAREER DEVELOPMENT AWARD PROGRAM 1,000,000
    FOUNDATION FOR EXCELLENCE IN HIGHER EDUCATION INC
    16 STOCKTON STREET
    PRINCETON,NJ08540     		  PRIVATE FOUNDATION TOWARDS THE NETWORK EFFECT: LEVERAGING THE FOUNDATION FOR EXCELLENCE IN HIGHER EDUCATION TO RENENEW UNIVERSITIES FROM WITHIN PROJECT 1,000,000
    Total .................................bullet 3b 2,000,000
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 27,535  
    4 Dividends and interest from securities ....          
    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 10,933,892  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aGRANTS REPAID     		    01 27,405  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 31,448,274 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    31,448,274
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 306,263 163,306   163,306

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    LAWYERS DEMOCRACY FUND
          		56295 LITTLE MONITEAU ROAD
    CALIFORNIA,MO65018     		2021-07-16 275,000 EDUCATIONAL INITIATIVES, PUBLIC INTEREST LITIGATION AND NONPARTISAN POLICY RESEARCH ACTIVITIES IN CONNECTION WITH ITS ELECTION INTEGRITY INVESTMENT PROJECT, WHICH AIMS TO EDUCATE THE AMERICAN PUBLIC ON THE ISSUES OF VOTING IRREGULARITIES AND ELECTORAL SYSTEM INTEGRITY 25,438 NO 2021 FINANCIALS REPORT 2021-12-31  
    BEST FRIENDS FOUNDATION
          		5335 WISCONSIN AVE NW 440
    WASHINGTON,DC20015     		2021-10-29 300,000 PROMOTING SOCIAL EMOTIONAL LEARNING 12,400 NO DISBURSEMENT REPORT AT YEAR END 2021-12-31  

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ENHANCED YIELD (T.ROWE PRICE INSTITUTIONAL FLOATING) 499,488 499,488
    FIXED INCOME (VANGUARD INTERMEDIATE TERM BOND ETF) 124,946,120 124,946,120
    FIXED INCOME (VANGUARD LONG-TERM CORP BOND) 48,792,240 48,792,240
    FIXED INCOME (VANGUARD TOTAL BOND MARKET ETF) 136,286,475 136,286,475

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Name of Stock End of Year Book Value End of Year Fair Market Value
    COMMON STOCKS - REAL ESTATE 533,813 533,813
    COMMON STOCKS- COMMUNICATION SERVICES 5,960,355 5,960,355
    COMMON STOCKS- CONSUMER DISCRETIONARY 6,997,165 6,997,165
    COMMON STOCKS- CONSUMER STAPLES 2,115,445 2,115,445
    COMMON STOCKS- DOMESTIC 123,008,027 123,008,027
    COMMON STOCKS- ENERGY 1,266,485 1,266,485
    COMMON STOCKS- FINANCIALS 8,044,248 8,044,248
    COMMON STOCKS- FOREIGN 4,193,621 4,193,621
    COMMON STOCKS- HEALTH CARE 7,483,499 7,483,499
    COMMON STOCKS- INDUSTRIALS 5,359,195 5,359,195
    COMMON STOCKS- INFORMATION TECHNOLOGY 16,134,300 16,134,300
    COMMON STOCKS- MATERIALS 2,032,388 2,032,388
    COMMON STOCKS- UTILITIES 1,499,001 1,499,001
    DOMESTIC EQUITY 94,489,606 94,489,606

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    US Government Securities - End of Year Book Value:

    186,001,321
    US Government Securities - End of Year Fair Market Value:

    186,001,321
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2021 InvestmentsOtherSchedule2
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BLACKSTONE TACTICAL OPPORTUNITIES FUND II FMV 4,047,146 4,047,146
    DEBT (ATLAS POINT PRIVATE CREDIT OPPORTUNITY) FMV 93,484 93,484
    GROWTH CAPITAL (PINEBROOK CAPITAL) FMV 548,767 548,767
    HEDGED EQUITY FUND - ACL ALTERNATIVE FUND CLASS A FMV 93,063,218 93,063,218
    HEDGED FUND - AHL (CAYMEN) SPC CI A1 EVOLUTION FMV 51,374,285 51,374,285
    HEDGED FUND - ELLIOT CO FMV 17,624,778 17,624,778
    HEDGED FUND - EXODUS POINT PARTNERS INT'L FUND FMV 16,198,885 16,198,885
    HEDGED FUND - GRAHAM ABSOLUTE RETURN FMV 60,586,436 60,586,436
    HEDGED FUND - MILLENNIUM INTERNATIONAL, LTD FMV 93,652,132 93,652,132
    HEDGED FUND - MILLENNIUM INTERNATIONAL, LTD FMV 8,808,145 8,808,145
    HEDGED FUND - POINTER OFFSHORE LTD FMV 114,441,492 114,441,492
    HEDGED FUND - WMQS GLOBAL EQUITY OFFSHORE CI F-2 FMV 57,235,715 57,235,715
    HEDGED FUNDS - BREVAN HOWARD LTD FMV 35,000,000 35,000,000
    HEDGED FUNDS - WEATHERLOW OFFSHORE FUND I LTD FMV 35,000,000 35,000,000
    MISCELLANEOUS (WISHBONE STRATA LP) FMV 428,751 428,751
    OAKTREE OPPORTUNITIES FUND X FMV 2,392,893 2,392,893
    OAKTREE OPPORTUNITIES FUND XB FMV 6,007,534 6,007,534
    OAKTREE OPPORTUNITIES FUND XI FMV 7,265,214 7,265,214
    PRIVATE ADVISORS SMALL COMPANY PEF IX (PA CAPITAL) FMV 4,863,086 4,863,086
    PRIVATE ADVISORS SMALL COMPANY PEF VII FMV 8,974,992 8,974,992
    PRIVATE EQUITY FUND (EXCEL VENTURE FUND II) FMV 244,569 244,569
    SCHRODER FOCUS II FMV 21,881,356 21,881,356

    TY 2021 LandEtcSchedule2
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    EQUIPMENT 372,588 304,590 67,998 67,998
    COMPUTER SOFTWARE 479,400 466,084 13,316 13,316
    LEASEHOLD IMPROVEMENT 1,304,321 514,701 789,620 789,620


    TY 2021 LegalFeesSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 950,478 95,048   899,964


    TY 2021 OtherAssetsSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SECURITY DEPOSITS 4,903 4,903 4,903
    457(B) AND 457(F) PLAN ASSETS   70,582 70,582


    TY 2021 OtherExpensesSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 113,347 0   121,801
    OFFICE SUPPLIES 28,311 0   28,311
    POSTAGE & DELIVERY 733 0   733
    TELEPHONE & FAX 13,576 0   13,576
    SUBSCRIPTIONS & MEMBERSHIPS 7,852 0   3,763
    EQUIPMENT RENTAL & MAINTENANCE 11,513 0   8,065
    OTHER FEES 2,754 0   2,709
    PARTNERSHIP EXPENSES 0 4,560,818   0
    BANK FEES 5,485 5,485   0
    AMORTIZATION 119,741 0   0
    HONORARIA 1,000 0   1,000


    TY 2021 OtherIncomeSchedule2
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PARTNERSHIP ORDINARY INCOME   2,764  
    PARTNERSHIP ROYALTIES   31,420  
    PARTNERSHIP OTHER INCOME   1,438,013  
    PARTNERSHIP RENTAL INCOME   -10,632  
    GRANTS REPAID 27,405   27,405


    TY 2021 OtherIncreasesSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Description Amount
    UNREALIZED GAIN ON INVESTMENTS 67,975,186


    TY 2021 OtherLiabilitiesSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED RENT 74,252 77,586
    DEFERRED LEASEHOLD INCENTIVE 158,157 131,427
    DEFERRED TAX LIABILITY 2,655,483 3,647,101
    457(B) AND 457(F) PLAN LIABILITIES 0 70,582


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER PROFESSIONAL FEES 110,913 64,241   42,827
    RETIREMENT MANAGEMENT 34,779 0   33,434
    INVESTMENT FEES - ATLANTIC TRUST 200,317 198,694   0
    INVESTMENT FEES - FSTC 2,744,101 2,744,101   0
    CONSULTING - MANAGEMENT 439,961 344,317   20,100
    CONSULTING-COMPUTER SUPPORT 98,077 0   97,514
    CONSULTING - GRANTEES 167,924 0   153,854


    TY 2021 TaxesSchedule
    Name:
    DIANA DAVIS SPENCER FOUNDATION INC
    EIN:
    20-3672969
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAXES 141,044 67,021   67,021
    WORKERS COMP PREMIUMS 9,830 7,385   7,385
    EXCISE TAX 1,341,970 0   0