TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023

Name of foundation
Danville Regional Foundation

Number and street (or P.O. box number if mail is not delivered to street address)512 Bridge Street 100
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Danville, VA24541

A Employer identification number

20-3319727

B Telephone number (see instructions)

(434) 799-2176

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$266,334,754J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	8,385		8,385
4	Dividends and interest from securities...	4,991,298		4,991,307
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		7,972,353
b	Gross sales price for all assets on line 6a 64,214,121
7	Capital gain net income (from Part IV, line 2)...			7,901,333
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).......	List of Attached Documents: // Content	348,650	210,429
12	Total. Add lines 1 through 11........	13,320,686		13,111,454
13	Compensation of officers, directors, trustees, etc.	509,793		56,852	452,941
14	Other employee salaries and wages......	476,773		5,778	561,200
15	Pension plans, employee benefits.......	312,688		9,948	236,985
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	3,274	1,455	1,819
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	61,157	12,590	48,567
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	2,769,584	2,550,200	302,988
17	Interest...............	41,659		22,142	19,517
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	517,749	0	0
19	Depreciation (attach schedule) and depletion...	List of Attached Documents: // Content	66,458	0
20	Occupancy..............	27,549		12,085	13,682
21	Travel, conferences, and meetings.......	72,383		0	73,111
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	787,040	254,396	533,741
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	5,646,107		2,925,446	2,244,551
25	Contributions, gifts, grants paid.......	10,914,579			12,234,144
26	Total expenses and disbursements. Add lines 24 and 25	16,560,686		2,925,446	14,478,695
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-3,240,000
b	Net investment income (if negative, enter -0-)			10,186,008
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2023)

Form 990-PF (2023)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	812,018	1,141,639	1,141,639
	2	Savings and temporary cash investments.........	12,924,553	14,264,314	14,264,314
	3	Accounts receivable 48,360
		Less: allowance for doubtful accounts	17,907	48,360	48,360
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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) 553,385
		Less: allowance for doubtful accounts 0	0	List of Attached Documents: // Content 553,385	553,385
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	272,468	135,123	135,123
	10a	Investments—U.S. and state government obligations (attach schedule)	9,678,579	List of Attached Documents: // Content 10,170,458	10,170,458
	b	Investments—corporate stock (attach schedule).......	50,340,766	List of Attached Documents: // Content 55,349,367	55,349,367
	c	Investments—corporate bonds (attach schedule).......	22,713,931	List of Attached Documents: // Content 23,785,049	23,785,049
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	149,860,424	List of Attached Documents: // Content 160,477,338	160,477,338
	14	Land, buildings, and equipment: basis 1,285,109
		Less: accumulated depreciation (attach schedule) 875,388	476,111	List of Attached Documents: // Content 409,721	409,721
	15	Other assets (describe )	List of Attached Documents: // Content 363,747	List of Attached Documents: // Content 0	List of Attached Documents: // Content 0
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	247,460,504	266,334,754	266,334,754
	17	Accounts payable and accrued expenses..........	1,044,888	622,803
	18	Grants payable.................	17,911,179	16,591,614
	19	Deferred revenue.................	129,222	116,292
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......	984,113	List of Attached Documents: // Content 885,472
	22	Other liabilities (describe )	List of Attached Documents: // Content 438,702	List of Attached Documents: // Content 787,885
	23	Total liabilities (add lines 17 through 22).........	20,508,104	19,004,066
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	226,952,400	247,330,688
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		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).....	226,952,400	247,330,688
	30	Total liabilities and net assets/fund balances (see instructions).	247,460,504	266,334,754

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

226,952,400

Enter amount from Part I, line 27a .....................

-3,240,000

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

23,618,288

Add lines 1, 2, and 3 ..........................

247,330,688

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

247,330,688

Form 990-PF (2023)

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
1 a	Publicly Traded Investments
b	Partnership Investments K-1	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	64,214,121	56,241,768	7,972,353
b		71,020	-71,020
c
d
e

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			7,972,353
b			-71,020
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	7,901,333
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 ...................		3

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	141,586
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	141,586
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	141,586
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	206,690
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	206,690
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	1,550
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	63,554
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax63,554	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

Yes

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Yes

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

www.drfonline.org

The books are in care of right arrow

Jon C Sells CFO & Treas Telephone no. right arrow

(434) 799-2176

Located at right arrow

512 Bridge Street Suite 100DanvilleVA ZIP+4 right arrow

24541

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... right arrow

and enter the amount of tax-exempt interest received or accrued during the year ........ right arrow

16 At any time during calendar year 2023, 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 right arrow

Form 990-PF (2023)

Page 5

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

Yes

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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 2023? .............

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)):

At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2023?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

Yes

If "Yes," did it have excess business holdings in 2023 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 2023.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2023? ..

Form 990-PF (2023)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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 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
Clark Casteel	President & CEO 40.00	303,899	54,457	19,250
512 Bridge St 100 Danville,VA24541	President & CEO 40.00	303,899	54,457	19,250
Jon C Sells	Treasurer & CFO 40.00	137,567	20,630	0
512 Bridge St 100 Danville,VA24541	Treasurer & CFO 40.00	137,567	20,630	0
Alexis I Ehrhardt	Chair 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Chair 1.00	0	0	0
Paul Erwin	Vice Chair 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Vice Chair 1.00	0	0	0
Shirley Jo Hite	Secretary 35.00	68,327	32,704	0
512 Bridge St 100 Danville,VA24541	Secretary 35.00	68,327	32,704	0
Carolyn Evans	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Charles Majors	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Martha A Walker	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Tammy Wright-Warren left 2023	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Jim Bebeau	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Maggy Gregory	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Chris R Eastwood left 2023	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Maurice Ferrell	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Paul Ashworth	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0
Greg Hairston	Director 1.00	0	0	0
512 Bridge St 100 Danville,VA24541	Director 1.00	0	0	0

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
Lori Merrick	Dir.-Marketing & Com 40.00	106,427	17,904	0
512 Bridge St 100 Danville,VA24541	Dir.-Marketing & Com 40.00	106,427	17,904	0
Stephanie Blevins	Accountant 40.00	78,088	33,049	0
512 Bridge St 100 Danville,VA24541	Accountant 40.00	78,088	33,049	0
Hearn	Sr. Prog. Officer 40.00	84,460	24,130	0
512 Bridge St 100 Danville,VA24541	Sr. Prog. Officer 40.00	84,460	24,130	0
Susanne Bell	Sr. Prog. Officer 40.00	88,023	15,702	0
512 Bridge St 100 Danville,VA24541	Sr. Prog. Officer 40.00	88,023	15,702	0
Willie Jones	Sr. Prog. Officer 40.00	85,439	14,679	0
512 Bridge St 100 Danville,VA24541	Sr. Prog. Officer 40.00	85,439	14,679	0
Total number of other employees paid over $50,000...................				0

Form 990-PF (2023)

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
TCC Group	Faciliate capacity Bldg. Implementation	140,200
333 7th Avenue 9th Floor New York,NY10001	Faciliate capacity Bldg. Implementation	140,200
Parker Productions	Videographer	94,000
PO Box 601 Hart,VA24563	Videographer	94,000
DAHAB Associates	Investment Consultant	89,940
423 South Country Road Bay Shore,NY11706	Investment Consultant	89,940
Annie Martinie	Sr. Fellow Consulting	66,266
780 Starry Nights Drive Fancy Gap,VA24328	Sr. Fellow Consulting	66,266
Third Sector New England Inc TSNE Mission Wk	Consulting	59,153
89 South Street Suite 700 Boston,MA02111	Consulting	59,153

Total number of others receiving over $50,000 for professional services............. right arrow

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	N/A	0
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......................... right arrow

Form 990-PF (2023)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

184,396,679

Average of monthly cash balances.......................

12,330,792

Fair market value of all other assets (see instructions)................

57,522,886

Total (add lines 1a, b, and c).........................

254,250,357

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

547,896

Subtract line 2 from line 1d.........................

253,702,461

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

3,805,537

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

249,896,924

Minimum investment return. Enter 5% (0.05) of line 5................

12,494,846

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.)

Minimum investment return from Part IX, line 6..................

12,494,846

Tax on investment income for 2022 from Part V, line 5.......

141,586

Income tax for 2022. (This does not include the tax from Part V.) ...

13,780

Add lines 2a and 2b............................

155,366

Distributable amount before adjustments. Subtract line 2c from line 1............

12,339,480

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

12,339,480

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

12,339,480

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

14,478,695

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

14,478,695

Form 990-PF (2023)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2022	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7					12,339,480
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2022:
a From 2018......
b From 2019......
c From 2020......
d From 2021......
e From 2022......	5,318,945
f Total of lines 3a through e ........		5,318,945
4Qualifying distributions for 2023 from Part
XI, line 4: $ 14,478,695
a Applied to 2022, 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 2023 distributable amount.....					12,339,480
e Remaining amount distributed out of corpus		2,139,215
5 Excess distributions carryover applied to 2023.		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		7,458,160
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 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........					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 2018 not applied on line 5 or line 7 (see instructions) ...		0
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		7,458,160
10 Analysis of line 9:
a Excess from 2019....
b Excess from 2020....
c Excess from 2021....
d Excess from 2022....	5,318,945
e Excess from 2023....	2,139,215

Form 990-PF (2023)

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 2023, enter the date of the ruling ...... right arrow

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2023	(b) 2022	(c) 2021	(d) 2020	(e) Total

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 right arrow

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

Mr Clark Casteel Pres CEO
512 Bridge St 100
Danville,VA24541
(434) 799-2176

bThe form in which applications should be submitted and information and materials they should include:

Refer to the Foundation's grant proposal guidelines on its website for full details and information.

cAny submission deadlines:

None

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

The Foundation supports programs operating or benefiting those who live in Danville and Pittsylvania County in VA and Caswell County in NC. Refer to the Foundation's grant proposal guidelines on its website for full details and information.

Form 990-PF (2023)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Averett University 420 West Main Street Danville,VA24541		PC	AU Online	685,000
Averett University 420 West Main Street Danville,VA24541		PC	CCEC 2020-2025	249,454
Beulah Missionary Baptist Church 918 Monumnet Street Danville,VA24541		PC	Make More Happen	11,950
Bookends PO Box 11405 Danville,VA24543		PC	Next Step Grant Reading Collab	21,420
Camp Selah 620 East Hightower Road Sutherlin,VA24594		PC	Capacity Grant	23,984
Cardinal News PO Box 4455 Roanoke,VA24015		PC	New Reporter	100,000
Caswell Council for the Arts PO Box 689 Yanceyville,NC27379		PC	Make More Happen	8,850
Caswell County Chamber of Commerce PO Box 29 Yanceyville,NC27379		PC	Capacity Grant	25,000
Caswell County Yanceyville Yanceyville,NC27379		GOV	Caswell Enterprise Center - On the Square	254,000
Caswell Fund PO Box 975 Yanceyville,NC27379		PC	Capacity Grant	25,000
City of Danville Economic Development PO Box 3300 Danville,VA24543		PC	Study of Women & Minority Owned Business	22,000
City of Danville VA PO Box 3300 Danville,VA24543		GOV	Comprehensive Community Engagement	100,000
City of Danville VA PO Box 3300 Danville,VA24543		GOV	Make More Happen	7,000
Collidescope VA 209 Trade St Danville,VA24543		PC	Next Step Strategic Plan	25,000
Community Foundation of the Dan River Region 541 Loyal Street Danville,VA24541		PC	Re-granting '20-'22 & Professional Development	251,778
Community Foundation of the Dan River Region 541 Loyal Street Danville,VA24541		PC	Re-granting '23-'25 & Professional Development	300,000
County Outreach Ministry PO Box 3300 Danville,VA24543		PC	Ashby Award	60,000
Dan River Business Development Center 300 Ringgold Industrial Parkway Danville,VA24540		PC	KDM Incentive	294,601
Dan River Nonprofit Network 126 Sutherlin Avenue Danville,VA24541		PC	Capacity Grant	568,326
Danville Church & Community Tutorial Program 498 Arnett Blvd Danville,VA24540		GOV	K-12 Program	147,774
Danville Historical Society 450 W Main St Danville,VA24541		GOV	Next Step	24,750
Danville Neighborhood Development PO Box 3549 Danville,VA24540		PC	Next Step	25,000
Danville Public Schools PO Box 3300 Danville,VA24543		GOV	Next Step DPSEF Strategic Plan	18,000
Danville Research Center African American History 409 Iris Ln Danville,VA24540		PC	Make More Happen Together	50,000
Gabriella Garden Cub 181 Linden Dr Danville,VA24541		PC	Make More Happen Together	25,000
Hope Concert Series PO Box 3300 Danville,VA24543		PC	Make More Happen Together	25,000
Institute for Advanced Learning and Research 150 Slayton Avenue Danville,VA24540		GOV	Reach Partnership	1,712,981
Institute for Advanced Learning and Research 150 Slayton Avenue Danville,VA24540		GOV	Americorps 2022-2025	115,410
Institute for Advanced Learning and Research 150 Slayton Avenue Danville,VA24540		GOV	CMA Facility	398,256
Medical Society of Virginia Foundation 2924 Emerywood Pkwy 300 Richmond,VA23294		PC	Training Grant Reach	10,000
Milton Renaissance Foundation 169 Broad Street Milton,NC27305		PC	Make More Happen Together	50,000
PATH Partnership 705 Main Street Danville,VA24541		PC	Cardinal News Health Reporter	30,000
Piedmont Community College 501 College Dr Charlottesville,VA22902		GOV	Center for Educational & Agricultural Development (CEAD)	2,509,650
Piedmont Environmental Council-Food System 39990 Howsers Branch Dr Aldie,VA20105		GOV	Next Step Grant	25,000
Pittsylvania County IDA 1 Center Street Chatham,VA24531		GOV	Loan Guarantee Program Panacea	41,602
Pittsylvania County PO Box 232 Chatham,VA24531		GOV	Next Steps Parks and Rec Master Plan	25,000
Pittsylvania Public Library Foundation 24 Military Drive Chatham,VA24531		GOV	Gretna Library Expansion	38,392
Pittsylvania Public Library Foundation 24 Military Drive Chatham,VA24531		GOV	Make More Happen Together	25,000
River District Association 208 N Union St Danville,VA24541		PC	River District Revitalization Expansion	250,000
Riverview Rotary 149 Piney Forest Rd Danville,VA24540		PC	Make More Happen Together	8,440
Smart Beginnings 104 Trade St Danville,VA24541		PC	School Readiness Initiative III	891,570
Smokestack Theatre Company 319 Lynn St Danville,VA24541		PC	Next Step	24,950
Southside Business Technology Center (SBTC) 527 Bridge St 200 Danville,VA24541		PC	The Launch Place Phase 2	2,454,006
The Literacy Lab 450 W Main Street Danville,VA24541		PC	Literacy Lab Tutor Program	250,000
Town of Yanceyville 140 Main Street PO Box 698 Yanceyville,NC27379		GOV	Next Step	25,000
Total ................................. 3a				12,234,144

bApproved for future payment
Averett University 420 West Main Street Danville,VA24541	PC	CCECC 2020-2025	82,000
Averett University 420 West Main Street Danville,VA24541	PC	TED Talk	12,500
Cardinal News PO Box 4455 Roanoke,VA24015	PC	New Reporter	100,000
City of Danville VA PO Box 3300 Danville,VA24543	GOV	Comprehensive Community Engagement	100,000
City of Danville VA PO Box 3300 Danville,VA24543	GOV	Riverfront Park	2,000,000
Community Foundation of the Dan River Region 541 Loyal Street Danville,VA24541	PC	Re-granting '20-'22 & Professional Development	31,423
Community Foundation of the Dan River Region 541 Loyal Street Danville,VA24541	PC	Re-granting '23-'25 & Professional Development	600,000
Dan River Nonprofit Network 126 Sutherlin Avenue Danville,VA24541	PC	Capacity Grant	3,428,333
Danville Church & Community Tutorial Program 498 Arnett Blvd Danville,VA24540	GOV	K-12 Program	295,548
Institute for Advanced Learning and Research 150 Slayton Avenue Danville,VA24540	GOV	REACH Partnership	2,424,424
Institute for Advanced Learning and Research 150 Slayton Avenue Danville,VA24540	GOV	CMA Facility	1,483,021
Institute for Advanced Learning and Research 150 Slayton Avenue Danville,VA24540	GOV	AmeriCorps 2022-2025	346,820
Institute for Advanced Learning and Research PO Box 3300 Danville,VA24543	GOV	Dan River Region Collaborative - 3 years	297,965
Pittsylvania County PO Box 232 Chatham,VA24531	GOV	County Admin Search	25,000
River District Association 208 N Union St Danville,VA24541	PC	River District Revitalization Expansion	750,000
Smart Beginnings 104 Trade St Danville,VA24541	PC	School Readiness Initiative III	1,793,625
Southside Business Technology Center (SBTC) 527 Bridge St 200 Danville,VA24541	PC	The Launch Place Phase 2	2,303,744
The Launch Place 527 Bridge St 200 Danville,VA24541	PC	Entrepreneurial Ecosystem	252,211
The Literacy Lab 450 W Main Street Danville,VA24541	PC	Literacy Lab Tutor Program	250,000
West Piedmont Planning District 1100 Madison St Danville,VA24541	GOV	West Piedmont Planning District Commission	15,000
Total ................................. 3b			16,591,614

Form 990-PF (2023)

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	(e) Related or exempt function income (See instructions.)
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	8,385
4 Dividends and interest from securities ....			14	4,991,298
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 .....	531120	138,221	14	210,429
8 Gain or (loss) from sales of assets other than inventory ............			18	7,972,353
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) ..		138,221		13,182,465	0

13Total. Add line 12, columns (b), (d), and (e)..................

13,320,686

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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 (2023)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Audit & accounting fees	61,157	12,590		48,567

- TIN:

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

TY 2023 DepreciationSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense
Software	2007-01-10	22,565	22,565	SL	3.000000000000	0
Additional software licenses	2007-07-24	2,414	2,414	SL	2.500000000000	0
Server and computer equipment	2007-12-12	5,014	5,014	SL	3.000000000000	0
Computers	2008-02-28	2,658	2,658	SL	3.000000000000	0
Computers	2008-03-10	1,712	1,712	SL	3.000000000000	0
Phone system	2008-04-30	6,641	6,641	SL	5.000000000000	0
Computers	2008-04-01	1,504	1,504	SL	3.000000000000	0
Phones/security	2011-09-01	38,250	38,250	SL	5.000000000000	0
Furniture	2011-10-06	72,746	72,746	SL	8.000000000000	0
Board table and chairs	2011-12-02	16,196	16,196	SL	8.000000000000	0
Alarm system	2011-12-02	4,428	4,428	SL	5.000000000000	0
Building (finance lease right of use asset)	2011-12-01	891,000	493,763	SL	20.000000000000	44,550
Server	2012-10-30	7,996	7,996	SL	5.000000000000	0
Office Furniture	2013-12-31	7,469	7,469	SL	5.000000000000	0
Computer equipment	2014-06-01	3,041	3,041	SL	3.000000000000	0
Leasehold improvements	2014-04-01	2,597	1,320	SL	17.000000000000	221
Notebook computers	2014-06-18	6,664	6,664	SL	3.000000000000	0
Leasehold improvements	2014-08-01	13,708	6,853	SL	17.000000000000	806
Leasehold improvements	2014-12-01	56,167	26,591	SL	17.000000000000	3,304
Website upgrades	2015-11-13	34,370	34,370	SL	3.000000000000	0
Carpet	2019-05-02	7,506	5,504	SL	5.000000000000	1,501
Automobile	2019-08-12	44,983	30,740	SL	5.000000000000	8,997
Carrier Indoor/Outdoor Unit	2002-07-13	35,480	10,559	SL	5.000000000000	7,079

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Name of Bond	End of Year Book Value	End of Year Fair Market Value
Allstate Corp	234,832	234,832
Amazon.com Inc.	143,965	143,965
American Express Co.	211,295	211,295
Amgen Inc	166,803	166,803
Anheuser Busch	194,182	194,182
AT&T Inc.	197,762	197,762
Avalonbay Communities	550,508	550,508
Bank New York Mellon Corp	445,815	445,815
Bank of America Corp.	393,172	393,172
Becton Dickinson & Co	421,536	421,536
BP Cap	644,443	644,443
Broadcom Inc.	251,430	251,430
Burlington North Santa Fe	296,226	296,226
Cap One	677,254	677,254
Capital One Financial Co.	501,816	501,816
Charles Schwab Corp	296,561	296,561
Cintas Corporation	464,944	464,944
Citigroup Inc	1,879,440	1,879,440
Comcast Corp	241,182	241,182
CVS Health Corp	319,491	319,491
Duke Energy	637,428	637,428
Dupont De Nemours Inc.	188,599	188,599
Enterprise Products	246,670	246,670
EOG Resources Inc.	64,407	64,407
Fifth Third BankCorp	339,175	339,175
Fiserv Inc.	234,549	234,549
Franklin Resources Inc	180,184	180,184
General Mills Inc.	295,788	295,788
Genuine Part Co.	167,116	167,116
Goldman Sachs Group Inc	704,034	704,034
Halliburton Co	151,890	151,890
Hartford Finl Svcs Group Inc	272,412	272,412
Honda Auto	668,327	668,327
JP Morgan Chase & Co	333,399	333,399
JP Morgan Chase Mbs Serv.	80,543	80,543
Keycorp	180,072	180,072
Lincoln National Corp	272,300	272,300
Lowes Cos Inc.	196,884	196,884
Magellan Midstream Partners	299,355	299,355
Markel Group	370,515	370,515
Marriott Internat'l	251,625	251,625
McDonalds Corp	395,486	395,486
Metlife Inc	635,810	635,810
Mondelez International	285,966	285,966
Morgan Stan Cap/Ser	280,139	280,139
Morgan Stanley	66,757	66,757
Morgan Stanley Fr	183,659	183,659
Morgan Stanley Sr	422,713	422,713
MS Bofa MI Trust Serv.	155,187	155,187
Oracle Corp	403,832	403,832
PNC Financial Services	294,004	294,004
Progressive Corp.	314,310	314,310
Rpm Intl Inc	270,954	270,954
Rtx Corporation	427,801	427,801
Spectra Energy Partners	216,614	216,614
Stryker Corp	248,752	248,752
Sysco Corp	228,508	228,508
Targa Res Partners	249,955	249,955
Toronto Dominion Bank	265,740	265,740
Travelers Ppty	530,630	530,630
Truist Finl Corp	512,288	512,288
US Bancorp Fr	394,100	394,100
Verizon Communications	367,057	367,057
Virginia Elec & Power Co	538,149	538,149
Walt Disney Company	337,259	337,259
Wells Fargo & Co	521,253	521,253
Westlake Chem Corp	386,368	386,368
Williams Cos Inc.	183,829	183,829

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3M Co Com	120,252	120,252
Abbvie Inc.	280,340	280,340
Acuity Brands Inc	117,777	117,777
Agco Corp Com	114,732	114,732
Alamo Group Inc Com	596,939	596,939
Alkami Technology Inc.	690,397	690,397
Allison Transmission Holdings	116,067	116,067
Ally Financial Inc	385,970	385,970
Amcor PLC	68,482	68,482
Amdocs LTD Com	743,373	743,373
Ameriprise Finl Inc	346,784	346,784
Amgen Inc	290,036	290,036
Apple Inc	715,634	715,634
Aptargroup Inc Com	218,189	218,189
Archer Daniels Midland Co	65,792	65,792
Arista Networks Inc	711,475	711,475
Asbury Automotive Group Inc.	636,440	636,440
Atkore Inc.	121,440	121,440
Autoliv Inc Com	115,148	115,148
Autozone Inc	426,625	426,625
Baker Hughes Co.	168,028	168,028
Bank Ozk Com	393,059	393,059
Bel Fuse Inc Cl B Com	656,349	656,349
Berry Global Group Inc.	67,592	67,592
Biogen Inc.	295,774	295,774
Blackbaud Inc Com	164,296	164,296
Booz Allen Hamilton Hldg	722,179	722,179
Borgwarner Inc. Com	118,520	118,520
BP PLC - ADR	166,663	166,663
Brunswick Corp	471,172	471,172
Cadence Design Systems Inc	713,337	713,337
Cannae Holdings Inc.	243,972	243,972
Cardinal Health Inc.	265,406	265,406
Carlisle Cos Inc	115,911	115,911
Caseys Gen Stores Inc.	440,408	440,408
Cass Information Sys.	532,941	532,941
Centene Corp	293,797	293,797
Championx Corp	264,642	264,642
Chesapeake Energy Corp Com	157,496	157,496
Cigna Corp	293,461	293,461
Citigroup Inc	395,367	395,367
Commercial Metals Co	71,507	71,507
Cummins Inc.	116,670	116,670
CVS Health Corp	317,182	317,182
D R Horton Inc Com	453,356	453,356
Davita Inc	280,756	280,756
Deckers Outdoor Corp	401,726	401,726
Dicks Sporting Goods Inc	439,233	439,233
Dillards Inc	439,978	439,978
Discover Financial Services	398,682	398,682
Dover Corp Com	116,434	116,434
Dropbox Inc Cl A	714,123	714,123
Duke Energy Corp New Com	108,296	108,296
Eagle Matls Inc Com	283,976	283,976
Eastman Chem Co Com	69,430	69,430
Edison Intl Com	113,812	113,812
Element Solutions Inc.	425,313	425,313
Elevance Health Inc.	283,408	283,408
Emcor Group Inc Com	105,129	105,129
Emerald Holding Inc Com	284,887	284,887
Emerson Electric Co	119,521	119,521
Enstar Group Limited	1,011,092	1,011,092
Eqt Corp Com	168,750	168,750
Evergy Inc	107,218	107,218
Fidelity National Financial	403,058	403,058
First Advantage Corp	396,023	396,023
First Interstate BancSystem Inc	428,962	428,962
First Merchants Corp Com	363,384	363,384
Firstenergy Corp Com	108,256	108,256
Fleetcor Technologies Inc.	749,481	749,481
Floor & Decor	329,994	329,994
Foot Locker Inc Com	156,373	156,373
Fortinet Inc. Com	736,541	736,541
Franklin Resources Inc	390,129	390,129
Gartner Inc. Com	692,453	692,453
Gates Industrial Corp	424,595	424,595
General Mills Inc.	274,890	274,890
Gentex Corp	119,306	119,306
Genuine Part Co.	113,847	113,847
Goldman Sachs Group Inc	385,384	385,384
Halliburton Co	161,084	161,084
Hartford Finl Svcs Group Inc	354,877	354,877
HCA Healthcare, Inc.	298,830	298,830
Healthequity Inc.	390,828	390,828
Hologic Inc. Com	287,371	287,371
Humana Inc	251,795	251,795
Ingredion Inc	62,838	62,838
International Paper Co	63,009	63,009
Intuit Com	730,660	730,660
Jacobs Solutions Inc.	107,474	107,474
Jazz Pharmaceuticals PLC	289,542	289,542
John Bean Technologies Corp Com	445,536	445,536
Kla Corporation	722,555	722,555
Knight Swift Transn Hldgs Inc Cl A	114,435	114,435
Kroger Co	285,093	285,093
Laboratory Corp Amer Hldgs	312,296	312,296
Lam Resh Corp Com	754,279	754,279
Lear Corp	114,944	114,944
Lennar Corp Cl A	437,879	437,879
Lyondellbasell Industries	68,552	68,552
M D C Hldgs Inc.	261,608	261,608
Marathon Oil Corp	162,355	162,355
Marriott Internat'l	436,587	436,587
Masco Corp	116,076	116,076
Maximus Inc Com	332,085	332,085
McKesson Corp	279,639	279,639
Miller Inds Inc. Tenn	1,014,621	1,014,621
Molina Healthcare Inc.	290,131	290,131
Molson Coors Beverage Company	289,156	289,156
Monarch Casino & Resort Inc.	586,046	586,046
Mueller Inds Inc Com	120,232	120,232
Murphy USA Inc.	413,966	413,966
Netapp Inc Com	705,368	705,368
Nicolet Bankshares Inc.	480,063	480,063
NRG Energy Inc Com New	112,861	112,861
Nucor Corp	67,353	67,353
O Reilly Automotive Inc.	418,985	418,985
Oge Energy Corp Com	104,231	104,231
Onespaworld Holdings Limited Com	177,589	177,589
Oshkosh Truck Corp	120,660	120,660
Ovintiv Inc.	162,811	162,811
Owens Corning Inc	68,778	68,778
Packaging Corp of America	63,209	63,209
Parker Hannifin Corp	114,714	114,714
Paychex Inc.	670,946	670,946
Performance Food Group Co.	669,510	669,510
Pinnacle West Cap Corp	101,007	101,007
Post Hldgs Inc Com	282,056	282,056
PPL Corp Com	110,866	110,866
Public Svc Enterprise Group Inc	107,012	107,012
Pulte Svc Enterprise Group Inc Com	452,310	452,310
Pvh Corp Com	424,489	424,489
Quest Diagnostics Inc.	302,232	302,232
Range Res Corp Com	168,576	168,576
Regions Finl Corp New Com	392,076	392,076
Reliance STL & Alum Co Com	69,920	69,920
Ryder Sys Inc.	115,750	115,750
Schein Henry Inc	301,855	301,855
Shell PLC Spon	166,737	166,737
Skyline Champion Corp	532,147	532,147
Sm Energy Co	168,160	168,160
Snap-On Inc.	110,048	110,048
Sonoco Prods Co	68,999	68,999
Southstate Corp	443,953	443,953
Spirit Aerosystems Hldgs	257,576	257,576
State Str Corp Com	345,626	345,626
Steel Dynamics Inc Com	66,254	66,254
Super Micro Computer Inc Com	679,665	679,665
Synchrony Financial	384,038	384,038
Timken Co Com	117,019	117,019
T-Mobile US Inc	106,619	106,619
Toll Bros Inc Com	447,136	447,136
Totalenergies SE	166,563	166,563
Transdigm Group Inc Com	728,352	728,352
Trimas Corp Com New	237,975	237,975
Trinet Group Inc	111,675	111,675
Trinity Inds Inc	234,124	234,124
Ufp Industries Inc.	70,559	70,559
UGI Corp New Com	114,242	114,242
United Rentals Inc Com	120,991	120,991
Unumprovident Corp	348,284	348,284
Valvoline Inc	499,814	499,814
Verizon Communications	110,687	110,687
Viad Corp Com New	760,200	760,200
Vistra Corp	109,242	109,242
Vontier Corporation Com	108,694	108,694
Webster Finl Corp	455,723	455,723
Wells Fargo & Co	383,719	383,719
Western Un Co Com	289,775	289,775
Westlake Corp	68,160	68,160
Royal Caribbean Cruises LTD	451,143	451,143
Cencora Inc Com	284,041	284,041
Applied Matls Inc Com	728,343	728,343
Autonation Inc Com	459,100	459,100
Boise Cascade Co Del Com	125,350	125,350
Builders Firstsource Inc Com	71,283	71,283
Metlife Inc	370,328	370,328

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

Danville Regional Foundation

EIN:

20-3319727

US Government Securities - End of Year Book Value:

10,170,458

US Government Securities - End of Year Fair Market Value:

10,170,458

State & Local Government Securities - End of Year Book Value:

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

- TIN:

TY 2023 InvestmentsOtherSchedule2

Name:

Danville Regional Foundation

EIN:

20-3319727

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Commingled real estate investment fund - alternative investment	FMV	12,644,454	12,644,454
Fidelity Mid Cap Index Fund	FMV	12,849,911	12,849,911
Lazard Emerging Markets Equity	FMV	15,877,571	15,877,571
LLC fund	FMV	23,900,000	23,900,000
Offshore feeder funds - alternative investments	FMV	9,099,963	9,099,963
Real estate investment properties	FMV	10,697,912	10,697,912
Vanguard Developed Markets Index Fund	FMV	27,517,275	27,517,275
Vanguard Growth Index Fund	FMV	33,804,490	33,804,490
Vanguard Russell 2000 Growth Index Fund	FMV	14,085,762	14,085,762

- TIN:

TY 2023 LandEtcSchedule2

Name:

Danville Regional Foundation

EIN:

20-3319727

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
Software	22,565	22,565	0
Additional software licenses	2,414	2,414	0
Server and computer equipment	5,014	5,014	0
Computers	2,658	2,658	0
Computers	1,712	1,712	0
Phone system	6,641	6,641	0
Computers	1,504	1,504	0
Phones/security	38,250	38,250	0
Furniture	72,746	72,746	0
Board table and chairs	16,196	16,196	0
Alarm system	4,428	4,428	0
Building (finance lease right of use asset)	891,000	538,313	352,687
Server	7,996	7,996	0
Office Furniture	7,469	7,469	0
Computer equipment	3,041	3,041	0
Leasehold improvements	2,597	1,541	1,056
Notebook computers	6,664	6,664	0
Leasehold improvements	13,708	7,659	6,049
Leasehold improvements	56,167	29,895	26,272
Website upgrades	34,370	34,370	0
Carpet	7,506	7,005	501
Automobile	44,983	39,737	5,246
Carrier Indoor/Outdoor Unit	35,480	17,638	17,842

- TIN:

TY 2023 LegalFeesSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Legal fees	3,274	1,455		1,819

- TIN:

TY 2023 MortgagesAndNotesPayableSch

Name:

Danville Regional Foundation

EIN:

20-3319727

Total Mortgage Amount:

Item No.	1
Lender's Name	Diversified Capital-Virginia LLC
Lender's Title
Relationship to Insider	None
Original Amount of Loan	510,000
Balance Due	365,129
Date of Note	2015-07
Maturity Date	2025-08
Repayment Terms	2,958 monthly -1st 12 mo's; then $3,247 monthly; balloon payment at maturity
Interest Rate	5.000000000000
Security Provided by Borrower	Real estate
Purpose of Loan	Finance the purchase of real estate investment property
Description of Lender Consideration	N/A
Consideration FMV

Item No.	2
Lender's Name	Jerome D Cook Sr & Barbara T Cook
Lender's Title
Relationship to Insider	None
Original Amount of Loan	280,000
Balance Due	65,111
Date of Note	2015-09
Maturity Date	2025-09
Repayment Terms	34,521 annually
Interest Rate	4.000000000000
Security Provided by Borrower	Real estate
Purpose of Loan	Finance the purchase of real estate investment property
Description of Lender Consideration	N/A
Consideration FMV

Item No.	3
Lender's Name	Industrial Development Authority of Danville
Lender's Title
Relationship to Insider	None
Original Amount of Loan	891,000
Balance Due	455,232
Date of Note	2011-12
Maturity Date	2031-11
Repayment Terms	6,105 monthly
Interest Rate	5.450000000000
Security Provided by Borrower	Building
Purpose of Loan	Finance lease (formerly termed capital lease) - building
Description of Lender Consideration	N/A
Consideration FMV

- TIN:

TY 2023 OtherAssetsSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
Accrued int. rec.	363,747	0	0

- TIN:

TY 2023 OtherExpensesSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Marketing / promotion	136,713	0	136,713
Insurance	36,719	14,121	22,598
Supplies	8,792	0	9,889
Small capital purchases, software licenses	13,896	0	13,896
Bank charges	694	694	0
Postage	981	0	981
Website hosting & maintenance	3,870	0	3,870
Special initiatives (non-fundraising)	323,505	0	323,505
Maintenance & repairs	10,367	8,199	2,168
Telephone	13,085	12,038	1,047
Dues and subscriptions	62,288	57,304	4,984
Miscellaneous	176,130	162,040	14,090

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

Danville Regional Foundation

EIN:

20-3319727

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Rental income from investments (non-debt financed)	210,429	210,429	210,429
Rental income from investments (debt financed)	138,221	0	138,221

- TIN:

TY 2023 OtherIncreasesSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Description	Amount
Unrealized gain on investments per audited financial statements	23,618,288

- TIN:

TY 2023 OtherLiabilitiesSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Description	Beginning of Year - Book Value	End of Year - Book Value
Def. excise tax	438,702	787,885

- TIN:

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

TY 2023 OtherNotesLoansRcvblLongSch

Name:

Danville Regional Foundation

EIN:

20-3319727

Borrower's Name	Relationship to Insider	Original Amount of Loan	Balance Due	Date of Note	Maturity Date	Repayment Terms	Interest Rate	Security Provided by Borrower	Purpose of Loan	Description of Lender Consideration	Consideration FMV
Virginia based LLC	None	545,000	553,385	2023-11	2024-11	No payments required until Maturity date	1200.0000000000 %	Guaranteed in Full by an Individual through an unconditional agreement	Real Estate	none	553,385

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
Payroll & benefit administration fees	9,204	4,326	9,161
Partnership Investment K-1 Expenses	0	1,633	0
Other professional fees	597,045	280,070	293,827
Investment management and advisory fees	1,519,159	1,619,995	0
Property Management expenses	644,176	644,176	0

- TIN:

TY 2023 TaxesSchedule

Name:

Danville Regional Foundation

EIN:

20-3319727

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Federal excise taxes	168,566	0		0
Deferred excise taxes	349,183	0		0