Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo 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
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 right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$1,347,340,836J 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 right arrow.............
3 Interest on savings and temporary cash investments 116,394 116,394  
4 Dividends and interest from securities... 19,115,149 26,010,849  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 28,604,374
b Gross sales price for all assets on line 6a 644,512,249
7 Capital gain net income (from Part IV, line 2)... 19,080,397
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
List of Attached Documents:
// Content
113,500 -402,377  
12 Total. Add lines 1 through 11........ 47,949,417 44,805,263  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 3,085,526 1,494,926   1,494,926
14 Other employee salaries and wages...... 1,161,699 578,730   578,730
15 Pension plans, employee benefits....... 1,086,782 531,121   531,121
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
592,468 59,247   489,632
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
385,897 190,287   190,287
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
2,571,851 2,346,854   302,688
17 Interest............... 44 0   44
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
2,240,934 95,777   95,777
19 Depreciation (attach schedule) and depletion... 19,810 0  
20 Occupancy.............. 208,759 0   215,898
21 Travel, conferences, and meetings....... 210,294 0   209,550
22 Printing and publications.......... 7,502 0   7,502
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
366,577 3,339,052   218,480
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 11,938,143 8,635,994   4,334,635
25 Contributions, gifts, grants paid....... 52,863,189 70,760,000
26 Total expenses and disbursements. Add lines 24 and 25 64,801,332 8,635,994   75,094,635
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -16,851,915
b Net investment income (if negative, enter -0-) 36,169,269
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 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......... 112,878,132 179,496,217 179,496,217
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 1,101,103 1,177,731 1,177,731
10a Investments—U.S. and state government obligations (attach schedule) 152,603,489 Click to see attachment
List of Attached Documents:
// Content
176,678,066 		176,678,066
b Investments—corporate stock (attach schedule)....... 121,840,769 Click to see attachment
List of Attached Documents:
// Content
56,029,820 		56,029,820
c Investments—corporate bonds (attach schedule)....... 256,408,534 Click to see attachment
List of Attached Documents:
// Content
264,142,785 		264,142,785
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 709,870,105 Click to see attachment
List of Attached Documents:
// Content
668,439,308 		668,439,308
14 Land, buildings, and equipment: basis right arrow2,171,377
Less: accumulated depreciation (attach schedule) right arrow1,651,939 671,017 Click to see attachment
List of Attached Documents:
// Content
519,438 		519,438
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
878,730 		Click to see attachment
List of Attached Documents:
// Content
857,471 		Click to see attachment
List of Attached Documents:
// Content
857,471
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,356,251,879 1,347,340,836 1,347,340,836
Liabilities 17 Accounts payable and accrued expenses.......... 897,312 955,511
18 Grants payable................. 112,968,203 94,172,392
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 right arrow) Click to see attachment
List of Attached Documents:
// Content
2,980,120 		Click to see attachment
List of Attached Documents:
// Content
3,262,253
23 Total liabilities (add lines 17 through 22)......... 116,845,635 98,390,156
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 1,239,406,244 1,248,950,680
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
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)..... 1,239,406,244 1,248,950,680
30 Total liabilities and net assets/fund balances (see instructions). 1,356,251,879 1,347,340,836
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
1,239,406,244
2
Enter amount from Part I, line 27a .....................
2
-16,851,915
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
26,396,351
4
Add lines 1, 2, and 3 ..........................
4
1,248,950,680
5
Decreases not included in line 2 (itemize) right arrow
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
1,248,950,680
Form 990-PF (2023)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b PUBLICLY TRADED SECURITIES      
c PARTNERSHIP ST CAPITAL P    
d PARTNERSHIP LT CAPITAL P    
e PARTNERSHIP 1231 GAIN P    
(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 4,704,282   4,122,646 581,636
b 639,789,221   611,766,483 28,022,738
c     4,390,537 -4,390,537
d     5,152,186 -5,152,186
e 18,746     18,746
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       581,636
b       28,022,738
c       -4,390,537
d       -5,152,186
e       18,746
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 19,080,397
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
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 right arrow 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) 1 502,753
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........................... 3 502,753
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- ..... 5 502,753
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 1,216,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 670,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,886,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 1,383,247
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow1,383,247 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowDE
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 2023 or the taxable year beginning in 2023? 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
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
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowWWW.DDSFOUNDATION.ORG
14
The books are in care ofright arrowCAROLE FEATHERSTONE Telephone no.right arrow (301) 961-4000

Located atright arrow3 BETHESDA METRO CENTER 118BETHESDAMD ZIP+4right arrow20814
15
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
15
 
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)
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
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 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.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
List of Attached Documents:
// Content
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 		759,000 76,734 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
ABBY SPENCER MOFFAT CEO & PRESIDENT
40.00 		809,000 119,433 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 		569,000 228,795 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
CHRISTOPHER BURN CHIEF INVESTMENT OFFICER
40.00 		871,216 141,019 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
JOHN RICHARDSON AUDIT & INVESTMENT COMMITTEE MEMBER
4.00 		75,000 0 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
RICHARD PAINTER AUDIT & INVESTMENT COMMITTEE MEMBER
4.00 		101,000 0 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
THOMAS SKILTON GENERAL COUNSEL AND SECRETARY
40.00 		653,000 131,426 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
KIMBERLY LAMANNA TRUSTEE
1.00 		0 0 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
SPENCER MOFFAT TRUSTEE
1.00 		0 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 HALL SENIOR PROGRAM MANAG
40.00 		245,060 102,414 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
MARY HAMILTON PROJECT MANAGER
40.00 		205,200 93,642 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
YHEIZZI OWEN GRANTS MANAGER
40.00 		181,654 83,071 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
ELIZABETH SMIROLDO SENIOR RESEARCH ANAL
40.00 		190,800 71,299 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
DEBORA MARTIN SENIOR EXECUTIVE ASS
40.00 		121,517 56,223 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
Total number of other employees paid over $50,000...................right arrow 2
Form 990-PF (2023)
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
MORGAN STANLEY GRAYSTONE INVESTMENT ADVISORY SERVICES 1,176,483
12505 PARK POTOMAC AVENUE 420
POTOMAC,MD20854
K&L GATES LLP LEGAL SERVICES 457,412
1601 K STREET NW
WASHINGTON,DC20006
HAMLIN CAPITAL MANGEMENT LLC INVESTMENT ADVISORY SERVICES 328,605
640 FIFTH AVENUE 11TH FLOOR
NEW YORK,NY10019
CLIFTONLARSONALLEN LLP ACCOUNTING SERVICES 309,922
220 6TH STREET SUITE 300
MINNEAPOLIS,MN55402
COLT STRATEGY CONSULTANT BUSINESS CONSULTING SERVICES 125,326
1663 LAUREL ST
SARASOTA,FL34236
Total number of others receiving over $50,000 for professional services.............right arrow8
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.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
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
1,171,797,072
b
Average of monthly cash balances.......................
1b
153,854,523
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
1,325,651,595
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
1,325,651,595
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
19,884,774
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
1,305,766,821
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
65,288,341
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
65,288,341
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
502,753
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
4,405
c
Add lines 2a and 2b............................
2c
507,158
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
64,781,183
4
Recoveries of amounts treated as qualifying distributions................
4
113,500
5
Add lines 3 and 4............................
5
64,894,683
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
64,894,683
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
75,094,635
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
75,094,635
Form 990-PF (2023)
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 64,894,683
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...... 17,449,101
f Total of lines 3a through e ........ 17,449,101
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 75,094,635
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..... 64,894,683
e Remaining amount distributed out of corpus 10,199,952
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 27,649,053
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 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 ...... 		27,649,053
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022.... 17,449,101
e Excess from 2023.... 10,199,952
Form 990-PF (2023)
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 or
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
         
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
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 (2023)
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)
aPaid during the year

1789 FUND

6959 WILKINS LN
CHESTERTOWN,MD20620 		NONE PC EDUCATIONAL CONFERENCE 30,000

AFTER-SCHOOL ALL-STARS

1331 H STREET NW STE 1100
WASHINGTON,DC20005 		NONE PC COMPREHENSIVE ENRICHMENT PROGRAM FOR UNDER-RESOURCED STUDENTS 250,000

ALEXANDER HAMILTON INSTITUTE FOR THE STUDY OF WESTERN CIVILIZATION

21 W PARK ROW
CLINTON,NY13323 		NONE PC THE AHI WASHINGTON PROGRAM ON NATIONAL SECURITY 45,000

AMERICAN COUNCIL OF TRUSTEES AND ALUMNI

1730 M STREET NW SUITE 600
WASHINGTON,DC20036 		NONE PC HIGHER EDUCATION PROGRAMS 1,000,000

AMERICAN PRIVATE RADIO

1723- B UNIVERSITY AVE SUITE 361
OXFORD,MS38655 		NONE PC EDUCATIONAL PROGRAMS 600,000

AMERICAN STRATEGY GROUP

937 W FOOTHILL BLVD SUITE C
CLAREMONT,CA91711 		NONE PC RESEARCH AND EDUCATION 500,000

AMERICAN SWISS FOUNDATION

271 MADISON AVE 1403
NEW YORK,NY10016 		NONE PC EDUCATIONAL PROGRAMS 30,000

AMERICAN VETERANS CENTER FBO AMERICAN STUDIES CENTER

1100 N GLEBE ROAD SUITE 910
ARLINGTON,VA22201 		NONE PC ANNUAL VETERANS CONFERENCE AND YOUTH LEADERSHIP SUMMIT 50,000

ANNE ARUNDEL COUNTY PUBLIC SCHOOLS

1179 HAMMOND LANE
ODENTON,MD21113 		NONE GOV TECHNOLOGY EDUCATION PROGRAM 65,000

ARMY HISTORICAL FOUNDATION INC

1775 LIBERTY DRIVE STE 400
FORT BELVOI,VA22060 		NONE PC TOWARDS THE NATIONAL MUSEUM OF THE U.S. ARMY 125,000

ASIA AMERICA INITIATIVE

1521 16TH STREET NW
WASHINGTON,DC20036 		NONE PC GENERAL OPERATING SUPPORT AND DISASTER RELIEF 25,000

BAR HARBOR FOOD PANTRY

36 MOUNT DESERT STREET
BAR HARBOR,ME04609 		NONE PC FOOD INSECURITY PROGRAM 40,000

BECKET FUND

1919 PENNSYLVANIA AVENUE NW SUITE
400
WASHINGTON,DC20006 		NONE PC RELIGIOUS FREEDOM INITIATIVES 150,000

BEST FRIENDS FOUNDATION INC

4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		NONE PF YOUTH SOCIAL-EMOTIONAL LEARNING PROGRAMS 560,000

BEST FRIENDS FOUNDATION INC

4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		NONE PF YOUTH SOCIAL-EMOTIONAL LEARNING PROGRAMS 30,000

BETHESDA FIRE DEPARTMENT INC

6600 WISCONSIN AVE
CHEVY CHASE,MD20815 		NONE PC GENERAL OPERATING SUPPORT 400,000

BULLIS SCHOOL

10601 FALLS ROAD
POTOMAC,MD20854 		NONE PC FINANCIAL AID SCHOLARSHIP PROGRAM 100,000

CALVIN COOLIDGE PRESIDENTIAL

3780 VT-100A
PLYMOUTH,VT05056 		NONE PC SCHOLARSHIPS PROGRAM 100,000

CAPITAL CLUBHOUSE

1517 18TH STREET
WASHINGTON,DC20036 		NONE PC GENERAL OPERATING SUPPORT 75,000

CAPITAL RESEARCH CENTER

1513 16TH STREET NW
WASHINGTON,DC20036 		NONE PC CORE PROGRAMS 500,000

CARING FOR MILITARY FAMILIES THE ELIZABETH DOLE FOUNDATION

600 NEW HAMPSHIRE AVENUE NW STE
1020
WASHINGTON,DC20037 		NONE PC MILITARY CAREGIVER SUPPORT 10,000

CARING FOR MILITARY FAMILIES THE ELIZABETH DOLE FOUNDATION

600 NEW HAMPSHIRE AVENUE NW STE
1020
WASHINGTON,DC20037 		NONE PC MILITARY CAREGIVER SUPPORT 1,000,000

CENTER FOR A FREE CUBA

417 WEST BROAD STREET SUITE 204
FALLS CHURCH,VA22046 		NONE PC GENERAL OPERATING SUPPORT 350,000

CENTER FOR A SECURE FREE SOCIETY (SFS)

1775 TYSONS BLVD
TYSONS,VA22102 		NONE PC EDUCATIONAL FORUM 145,000

CENTER FOR STRATEGIC AND INTERNATIONAL STUDIES

1616 RHODE ISLAND AVENUE NW
WASHINGTON,DC20036 		NONE PC NATIONAL SECURITY PROGRAMS 225,000

CERTELL INC

2201 E 46TH STREET SUITE 302
INDIANAPOLIS,IN46205 		NONE PC EDUCATIONAL INITIATIVES 200,000

CHAPEL HAVEN ENDOWMENT

1040 WHALLEY AVE
NEW HAVEN,CT06515 		NONE PC DISABILITIES EDUCATION AND SOCIAL SERVICES 500,000

CHAPEL HAVEN INC

1040 WHALLEY AVE
NEW HAVEN,CT06515 		NONE PC DISABILITIES EDUCATION AND SOCIAL SERVICES 500,000

COLLEGIATE DIRECTIONS INC

4827 RUGBY AVENUE SUITE 001
BETHESDA,MD20814 		NONE PC 2023-2024 SUPPORTING STRATEGIC GROWTH PROJECT 350,000

CONSTITUTING AMERICA

9382 MT VERNON CIRCLE
ALEXANDRIA,VA22309 		NONE PC YOUTH EDUCATION PROGRAMS 300,000

CONSUMER ACTION NETWORK

1029 VERMONT AVENUE NW SUITE 810
WASHINGTON,DC20005 		NONE PC GENERAL OPERATING SUPPORT 300,000

CROSSXREACH INC

213 SE 7TH AVENUE
DELRAY BEACH,FL33483 		NONE PC ALCOHOL AND DRUG PREVENTION 500,000

CULTURE WISE STUDIES INC

4072 MISSION OAKS BLVD
CAMARILLO,CA93012 		NONE PC PUBLIC EDUCATIONAL OUTREACH 475,000

CULTURE WISE STUDIES INC

4073 MISSION OAKS BLVD
CAMARILLO,CA93012 		NONE PC PUBLIC EDUCATIONAL OUTREACH 25,000

DAILY CALLER NEWS FOUNDATION

1775 EYE STREET NW SUITE 1150-291
WASHINGTON,DC20006 		NONE PC PUBLIC INTEREST JOURNALISM 50,000

DONORS TRUST

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,DC22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 500,000

DONORS TRUST

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 1,000,000

DONORS TRUST

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 3,000,000

DONORS TRUST

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 5,000,000

DONORS TRUST

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 800,000

DONORS TRUST

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 300,000

DONORS TRUST INC

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 1,000,000

DONORS TRUST INC

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DATABASE AND IT IMPROVEMENT PROJECTS 350,000

EARTH UNIVERSITY FOUNDATION

151 ELLIS STREET NE FLOOR I SUITE
133
ATLANTA,GA30303 		NONE PC AGRICULTURAL BUSINESS EDUCATION AND TRAINING 300,000

ENCOUNTER FOR CULTURE AND EDUCATION

900 BROADWAY SUITE 601
NEW YORK,NY10003 		NONE POF EDUCATIONAL PUBLICATIONS AND PROGRAMS 30,000

FOR LOVE OF CHILDREN

1301 PENNSYLVANIA AVE SE
WASHINGTON,DC20003 		NONE PC NEIGHBORHOOD TUTORING PROGRAM 50,000

FORGE LEADERSHIP NETWORK

707 MIAMISBURG-CENTERVILLE RD
DAYTON,OH45459 		NONE PC LEADERSHIP AND EDUCATION PROGRAMS 200,000

FOUNDATION FIGHTING BLINDNESS INC

7168 COLUMBIA GATEWAY DRIVESUITE
100
COLUMBIA,MD21046 		NONE PC MEDICAL RESEARCH 1,000,000

FOUNDATION FOR CULTURAL REVIEW (NEW CRITERION)

900 BROADWAY SUITE 602
NEW YORK,NY10003 		NONE PC EDUCATIONAL PUBLICATIONS 30,000

FOUNDATION FOR ECONOMIC EDUCATION

1819 PEACHTREE RD NE STE 300
ATLANTA,GA30309 		NONE PC TEACHER EDUCATION PROGRAMS 150,000

FOUNDATION FOR EXCELLENCE IN HIGHER EDUCATION INC

16 STOCKTON STREET
PRINCETON,NJ08540 		NONE PC CAMPUS EDUCATIONAL INITIATIVES 1,000,000

FOUNDATION FOR INDIVIDUAL RIGHTS AND EXPRESSION (FIRE)

510 WALNUT STREET SUITE 1250
PHILADELPHIA,PA19106 		NONE PC GENERAL OPERATING SUPPORT 400,000

FREE TO CHOOSE NETWORK

2002 FILMORE AVENUE
ERIE,PA16506 		NONE PC EDUCATIONAL PUBLICATIONS AND MEDIA 600,000

FREEDOM ALLIANCE

25 W PICCADILLY ST
WINCHESTER,VA22601 		NONE PC SCHOLARSHIP AND STUDENT EDUCATIONAL PROGRAMS 200,000

GCSEN FOUNDATION

430 OLD NEIGHBORHOOD ROAD
KINGSTON,NY12401 		NONE PC VETERAN'S EDUCATIONAL SERVICES AND OUTREACH 50,000

GEORGE MASON UNIVERSITY FOUNDATION FBO GEORGE MASON LAW & ECONOMICS

4400 UNIVERSITY DR MS1A3
FAIRFAX,VA22030 		NONE PC LAW AND ECONOMICS CENTER 200,000

GLOUCESTER INSTITUTE

3201 LEADERSHIP DRIVE
GLOUCESTER,VA23061 		NONE PC YOUTH LEADERSHIP PROGRAMS 500,000

GOVERNMENT ACCOUNTABILITY INSTITUTE

1414 PIEDMONT DRIVE EAST
TALLAHASSE,FL32308 		NONE PC RESEARCH AND EDUCATION 425,000

HANOVER CHARITIES USA

824 ISLAND CIRCLE WEST
HELENA ISLAND,SC29920 		NONE PC HEALTH, EDUCATION AND FOOD INSECURITY INITIATIVES 5,000

HAZELDEN BETTY FORD FOUNDATION

15251 PLEASANT VALLEY ROAD PO BOX
11
CENTER CITY,MN55012 		NONE PC FAMILY AND CHILDREN'S HEALTH PROGRAMS 2,000,000

HERITAGE FOUNDATION

214 MASSACHUSETTS AVE NE
WASHINGTON,DC20002 		NONE PC PUBLIC POLICY AND RESEARCH PROGRAMS 5,000,000

HERITAGE FOUNDATION

214 MASSACHUSETTS AVE NE
WASHINGTON,DC20002 		NONE PC PUBLIC POLICY AND RESEARCH PROGRAMS 1,000

HILLSDALE COLLEGE

33 E COLLEGE ST
HILLSDALE,MI49242 		NONE PC HIGHER EDUCATION INITIATIVES 5,000,000

HUDSON INSTITUTE

1201 PENNSYLVANIA AVENUE NW FOURTH
FLOOR
WASHINGTON,DC20004 		NONE PC PUBLIC POLICY RESEARCH AND EDUCATION 125,000

INDEPENDENT WOMEN'S FORUM (IWF)

4 WEEMS LANE SUITE 312
WINCHESTER,VA22601 		NONE PC PUBLIC POLICY EDUCATION AND RESEARCH 1,200,000

INDEPENDENT WOMEN'S FORUM

4 WEEMS LANE SUITE 312
WINCHESTER,VA22601 		NONE PC PUBLIC POLICY EDUCATION AND RESEARCH 350,000

INDEPENDENT WOMEN'S FORUM

4 WEEMS LANE SUITE 312
WINCHESTER,VA22601 		NONE PC PUBLIC POLICY EDUCATION AND RESEARCH 10,000

INSTITUTE FOR HUMANE STUDIES

3434 WASHINGTON BOULEVARD MC 1C5
ARLINGTON,VA22201 		NONE PC HIGHER EDUCATION INITIATIVES 100,000

INTERCOLLEGIATE STUDIES INSTITUTE INC

3901 CENTERVILLE RD
WILMINGTON,DE19807 		NONE PC HIGHER EDUCATION INITIATIVES 1,000,000

INTERCOLLEGIATE STUDIES INSTITUTE INC

3901 CENTERVILLE RD
WILMINGTON,DE19807 		NONE PC HIGHER EDUCATION INITIATIVES 100,000

INTERCOLLEGIATE STUDIES INSTITUTE INC

3901 CENTERVILLE ROAD
WILMINGTON,DE19807 		NONE PC HIGHER EDUCATION INITIATIVES 200,000

IONA SENIOR SERVICES

4125 ALBEMARLE ST NW
WASHINGTON,DC20016 		NONE PC SENIOR HEALTH SERVICES 3,000

ISLAND HOUSING TRUST

1366 STATE HIGHWAY 102
BAR HARBOR,ME04609 		NONE PC COMMUNITY HOUSING OPPORTUNITIES 50,000

ISLAND READERS & WRITERS AN INITIATIVE FOR MAINE CHILDREN

246 MAIN STREET
SOUTHWEST HARBOR,ME04679 		NONE PC CHILDREN'S EDUCATIONAL INITIATIVES 35,000

ISLAND READERS & WRITERS AN INITIATIVE FOR MAINE CHILDREN

246 MAIN STREET
SOUTHWEST HARBOR,ME04679 		NONE PC YOUTH EDUCATIONAL INITIATIVES 40,000

JACK KEMP FOUNDATION

5614 CONNECTICUT AVENUE NW SUITE
305
WASHINGTON,DC20015 		NONE PC COMMUNITY DEVELOPMENT RESEARCH AND EDUCATION 75,000

JAMES W FOLEY LEGACY FOUNDATION

200 MARCY STREET SUITE 102
PORTSMOUTH,NH03801 		NONE PC GENERAL OPERATING SUPPORT 50,000

JAMES W FOLEY LEGACY FOUNDATION

200 MARCY STREET SUITE 102
PORTSMOUTH,NH03801 		NONE PC 2023 ANNUAL FREEDOM AWARDS DINNER 1,000

JAMES WILSON INSTITUTE FOR NATURAL RIGHTS AND THE AMERICAN FOUNDING

124 WEST ST S SUITE 200
ALEXANDRIA,VA22314 		NONE PC PUBLIC EDUCATIONAL OUTREACH 10,000

JAMES WILSON INSTITUTE FOR NATURAL RIGHTS AND THE AMERICAN FOUNDING

124 WEST ST S SUITE 200
ALEXANDRIA,VA22314 		NONE PC RESEARCH AND EDUCATION PROGRAMS 350,000

JEWISH INSTITUTE FOR NATIONAL SECURITY OF AMERICA

1101 14TH STREET NW SUITE 1030
WASHINGTON,DC20008 		NONE PC EDUCATIONAL LEADERSHIP PROGRAMS 300,000

JOHN JAY INSTITUTE

705 S BELLEVUE AVE
LANGHORNE,PA19047 		NONE PC GENERAL OPERATING SUPPORT 100,000

JUBILEE JOBS INC

2712 ONTARIO ROAD NW
WASHINGTON,DC20009 		NONE PC GENERAL OPERATING SUPPORT 50,000

KEYSTONE SERVICE SYSTEMS FBO SUSQUEHANNA SERVICE DOGS

1078 GRAVEL HILL ROAD
GRANTVILLE,PA17028 		NONE PC SUSQUEHANNA SERVICE DOGS PROGRAM 100,000

LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM)

1858 WEST GRANDVIEW BLVD
ERIE,PA16509 		NONE PC GENERAL OPERATING SUPPORT 50,000

LAND CONSERVATION ASSISTANCE NETWORK

106 LAFAYETTE STREET SUITE 3G
YARMOUTH,ME04096 		NONE PC CONSERVATION PROGRAMS 75,000

LAW ENFORCEMENT LEGAL DEFENSE FUND

2560 HUNTINGTON AVE SUITE 100
ALEXANDRIA,VA22303 		NONE PC PUBLIC INTEREST LITIGATION AND EDUCATIONAL OUTREACH 350,000

LINCOLN NETWORK INC

2443 FILLMORE ST 380-3386
SAN FRANCISCO,CA94115 		NONE PC RESEARCH AND EDUCATION 200,000

MAINE SEACOAST MISSION

127 WEST STREET
BAR HARBOR,ME04609 		NONE PC HEALTH AND SOCIAL SERVICES 400,000

MAPLEBROOK SCHOOL

5142 ROUTE 22
AMENIA,NY12501 		NONE PC GENERAL OPERATING SUPPORT 50,000

MARY CHRISTIE INSTITUTE

80 HAYDEN AVE
LEXINGTON,MA02421 		NONE PF TEEN AND YOUNG ADULT HEALTH EDUCATION 100,000

MASTER SCHOOL

49 CLINTON AVENUE
DOBBS FERRY,NY10522 		NONE PC 2022 -2023 ANNUAL FUND 75,000

MCV FOUNDATION AKA VCU MASSEY CANCER CENTER

1228 EAST BROAD STREET
RICHMOND,VA23298 		NONE PC MEDICAL RESEARCH 25,000

MEDIA RESEARCH CENTER INC

1900 CAMPUS COMMONS DRIVE SUITE 600
RESTON,VA20191 		NONE PC PUBLIC EDUCATIONAL OUTREACH 2,000,000

MIDDLE EAST MEDIA RESEARCH INSTITUTE

1819 L STREET NW 5TH FLOOR
WASHINGTON,DC20036 		NONE PC PUBLIC EDUCATIONAL OUTREACH 200,000

MIDDLE EAST MEDIA RESEARCH INSTITUTE

1819 L STREET NW 5TH FLOOR
WASHINGTON,DC20036 		NONE PC PUBLIC EDUCATIONAL OUTREACH 900,000

MIGHTY OAKS FOUNDATION

33134 MAGNOLIA CIR SUITE A UNIT 10
MAGNOLIA,TX77354 		NONE PC GENERAL OPERATING SUPPORT 250,000

MOUNT DESERT FESTIVAL OF CHAMBER MUSIC

1 KIMBALL RD
NORTHEAST HARBOR,ME04662 		NONE PC COMMUNITY SERVICES AND EDUCATION 35,000

MOUNT DESERT ISLAND YMCA

21 PARK STREET
BAR HARBOR,ME04609 		NONE PC GENERAL OPERATING SUPPORT 50,000

MOVING PICTURE INSTITUTE

375 GREENWICH ST
NEW YORK,NY10013 		NONE PC GENERAL OPERATING SUPPORT 500,000

MYSA SCHOOL INC

1500 HARVARD ST NW
WASHINGTON,DC20009 		NONE PC YOUTH EDUCATIONAL INITIATIVES 800,000

NATIONAL ASSOCIATION OF SCHOLARS

420 MADISON AVE 7TH FL
NEW YORK,NY10017 		NONE PC RESEARCH AND EDUCATION 250,000

NATIONAL CENTER FOR PUBLIC POLICY RESEARCH

2005 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20036 		NONE PC DISABILITIES RESEARCH AND EDUCATION 600,000

NATIONAL FATHERHOOD INITIATIVE INC

12410 MILESTONE CENTER DRIVE 600
GERMANTOWN,MD20876 		NONE PC GENERAL OPERATING SUPPORT 75,000

NATIONAL HISTORICAL SOCIETY

1607 22ND ST
WASHINGTON,DC20008 		NONE PC EDUCATIONAL PROGRAMS 100,000

NATIONAL TAXPAYERS UNION FOUNDATION

122 C ST NW SUITE 650
WASHINGTON,DC20001 		NONE PC GENERAL OPERATING SUPPORT 250,000

NATIONAL TRUST FOR HISTORIC PRESERVATION

600 14TH ST NW SUITE 500
WASHINGTON,DC20005 		NONE PC GENERAL OPERATING SUPPORT 20,000

NATIONAL WORLD WAR II MUSEUM

945 MAGAZINE STREET
NEW ORLEANS,LA70130 		NONE PC PUBLIC POLICY EDUCATION AND RESEARCH 50,000

NEIGHBORHOOD HOUSE CLUB INC

1 KIMBALL ROAD PO BOX 332
NORTHEAST HARBOR,ME04662 		NONE PC GENERAL OPERATING SUPPORT 55,000

NETWORK OF ENLIGHTENED WOMEN

1360 EAST CAPITOL STREET NE
WASHINGTON,DC20003 		NONE PC GUIDING YOUNG CONSERVATIVE WOMEN PROJECT 175,000

NORTHEAST HARBOR LIBRARY

1 JOY RD
NORTHEAST HARBOR,ME04662 		NONE PC GENERAL OPERATING SUPPORT AND SCHOLARSHIP PROGRAM 45,000

OPERATION OPPORTUNITY FOUNDATION DBA WARRIOR-SCHOLAR PROJECT

1012 14TH STREET NW SUITE 1200
WASHINGTON,DC02899 		NONE PC VETERANS EDUCATION SERVICES 300,000

OUR COMMUNITY SALUTES-USA

41 COHASSET LANE
CHERRY HILL,NJ08003 		NONE PC HIGH SCHOOL PROGRAMS 700,000

PACIFIC LEGAL FOUNDATION

930 G STREET
SACRAMENTO,CA95814 		NONE PC PUBLIC INTEREST LITIGATION AND EDUCATIONAL OUTREACH 250,000

PACIFIC LEGAL FOUNDATION

930 G STREET
SACRAMENTO,CA95814 		NONE PC PUBLIC INTEREST LITIGATION AND EDUCATIONAL OUTREACH 5,000

PACIFIC RESEARCH INSTITUTE FOR PUBLIC POLICY

101 MONTGOMERY STREET SUITE 1300
SAN FRANCISCO,CA94104 		NONE PC HEALTH CARE RESEARCH AND EDUCATION 125,000

PARENTS DEFENDING EDUCATION

4532 LEE HWY NUMBER 119
ARLINGTON,VA22207 		NONE PC GENERAL OPERATING SUPPORT 200,000

PARLIAMENTARY INTELLIGENCE-SECURITY FORUM

20 F ST NW SUITE 700
WASHINGTON,DC20001 		NONE PC SCHOLARSHIP PROGRAMS 150,000

PENTAGON MEMORIAL FUND INC

901 N GLEBE ROAD SUITE 200
ARLINGTON,VA22203 		NONE PC TOWARDS THE 9/11 PENTAGON MEMORIAL VISITOR EDUCATION CENTER 1,250,000

PLIMOTH PATUXET MUSEUM INC AKA PLIMOTH PLANTATION INC

137 WARREN AVE / PO BOX 1620
PLYMOUTH,MA02362 		NONE PC HISTORIC PRESERVATION AND EDUCATIONAL PROGRAMS 400,000

PRAGER UNIVERSITY FOUNDATION

15021 VENTURA BLVD 552
SHERMAN OAKS,CA91403 		NONE PC PUBLIC EDUCATIONAL OUTREACH 300,000

PRAGER UNIVERSITY FOUNDATION

15021 VENTURA BLVD 552
SHERMAN OAKS,CA91403 		NONE PC PUBLIC EDUCATIONAL OUTREACH 25,000

REEL AID ORG

3018 3RD ST
SANTA MONICA,CA90405 		NONE PC AMBASSADOR PROGRAM 50,000

REPUBLIC BOOK PUBLISHERS

27 WEST 20TH STREET SUITE 1103
NEW YORK,NY10011 		NONE PC GENERAL OPERATING SUPPORT 50,000

SAFE IN SPIRIT INC

3950 HIGHWAY 360
GRAPEVINE,TX76051 		NONE PC AFGHANISTAN PROGRAM: EDUCATIONAL FAMILY SUPPORT 100,000

SAFE IN SPIRIT INC

3950 HIGHWAY 360
GRAPEVINE,TX76051 		NONE PC AFGHANISTAN PROGRAM: EDUCATIONAL FAMILY SUPPORT 250,000

SAMARITAN'S PURSE

801 BAMBOO RD
BOONE,NC28607 		NONE PC DISASTER RELIEF 75,000

SAMARITAN'S PURSE

801 BAMBOO RD
BOONE,NC28607 		NONE PC DISASTER RELIEF 100,000

SAMARITAN'S PURSE

801 BAMBOO RD
BOONE,NC28607 		NONE PC HUMANITARIAN ASSISTANCE PROGRAMS 50,000

SHALEM FOUNDATION

845 THIRD AVENUE SIXTH FLOOR
NEW YORK,NY10022 		NONE PC MODERN MIDDLE EASTERN STUDIES PROGRAM 200,000

SIBLEY MEMORIAL HOSPITAL FOUNDATION

5255 LOUGHBORO ROAD NW
WASHINGTON,DC20016 		NONE PC TOWARDS THE NURSING RECOGNITION AND SUPPORT PROGRAM 200,000

SOCIETY OF THE FOUR ARTS

100 FOUR ARTS PLAZA
PALM BEACH,FL33480 		NONE PC GENERAL OPERATING SUPPORT 25,000

SPAULDING REHABILITATION HOSPITAL

300 FIRST AVENUE
CHARLESTOWN,MA02129 		NONE PC TOWARDS CAREGIVER AND NURSING AWARDS 150,000

SPECIAL OLYMPICS INC

2600 VIRGINIA AVENUE NW 11TH FLOOR
WASHINGTON,DC20037 		NONE PC ADVOCACY: SHARING STORIES FOR IMPACT PROJECT 200,000

SPEECH FIRST INC

1300 I ST NW SUITE 400E
WASHINGTON,DC20005 		NONE PC CAMPUS EDUCATIONAL PROGRAMS 350,000

STEAMBOAT INSTITUTE

27855 WHITEWOOD DRIVE EAST
STEAMBOAT SPRINGS,CO80487 		NONE PC LEADERSHIP EDUCATION PROGRAMS 100,000

SUBURBAN HOSPITAL FOUNDATION INC

8600 OLD GEORGETOWN RD
BETHESDA,MD20814 		NONE SO I NURSING PROGRAMS 250,000

TENEO NETWORK INC

2605 W 8TH STREET
AUSTIN,TX78703 		NONE PC PUBLIC EDUCATION AND LEADERSHIP TRAINING PROGRAMS 600,000

TEXAS A&M UNIVERSITY

2132 ALLEN BUILDING 4220 TAMU
COLLEGE STATION,TX77843 		NONE PC GRADUATE NATIONAL SECURITY PROGRAMS 3,500,000

TEXAS A&M UNIVERSITY

2132 ALLEN BUILDING 4220 TAMU
COLLEGE STATION,TX77843 		NONE PC GRADUATE NATIONAL SECURITY PROGRAMS 3,500,000

THE FEDERALIST SOCIETY FOR LAW AND PUBLIC POLICY STUDIES

1776 I STREET NW STE 300
WASHINGTON,DC20006 		NONE PC GRADUATE NATIONAL SECURITY PROGRAMS 2,000,000

THE FUND FOR AMERICAN STUDIES

1706 NEW HAMPSHIRE AVE NW
WASHINGTON,DC20009 		NONE PC HIGHER EDUCATION INITIATIVES 700,000

THE INSTITUTE FOR FAMILY STUDIES

2619 JEFFERSON PARK CIRCLE
CHARLOTTESVILLE,VA22903 		NONE PC TEEN MENTAL HEALTH 150,000

THE PENFAULKNER FOUNDATION

6218 GEORGIA AVENUE NW 1062
WASHINGTON,DC20011 		NONE PC EDUCATIONAL PROGRAMS 10,000

TIM TEBOW FOUNDATION

7700 SQUARE LAKE BLVD
JACKSONVILLE,FL32256 		NONE PC DISABILITY SERVICES AND FAMILY SUPPORT 2,500,000

TOWN OF MOUNT DESERT COMMUNITY DEVELOPMENT CORPORATION

21 SEA STREET
NORTHEAST HARBOR,ME04662 		NONE PC GENERAL OPERATING SUPPORT 25,000

UNITED SERVICE ORGANIZATIONS INC

2111 WILSON BLVD SUITE 1200
ARLINGTON,VA22201 		NONE PC MILITARY FAMILY SUPPORT 500,000

WASHINGTON TENNIS & EDUCATION FOUNDATION

5220 16TH STREET NW
WASHINGTON,DC20011 		NONE PC GENERAL OPERATING SUPPORT 100,000

WHITE HOUSE HISTORICAL ASSOCIATION

1610 H STREET NW
WASHINGTON,DC20006 		NONE PC HISTORICAL EDUCATION AND PRESERVATION 20,000

WOODROW WILSON INTERNATIONAL CENTER FOR SCHOLARS

1300 PENNSYLVANIA AVE NW SUITE 8
WASHINGTON,DC20004 		NONE PC RESEARCH AND PUBLIC EDUCATIONAL OUTREACH 25,000

WOODSON CENTER

1625 K STREET NW
WASHINGTON,DC20001 		NONE PC PUBLIC POLICY RESEARCH AND EDUCATION 250,000

WORLDWIDE FRIENDS FOUNDATION FBO ISRAEL FRIENDS

1115 BROADWAY
NEW YORK,NY10010 		NONE PC GENERAL OPERATING SUPPORT 50,000

YALE NEW HAVEN HOSPITAL

789 HOWARD AVENUE
NEW HAVEN,CT06519 		NONE PC GENERAL OPERATING SUPPORT 100,000

YOUNG AMERICANS AGAINST SOCIALISM

607 E BLANCO RD 162
BOERNE,TX78006 		NONE PC EDUCATE FREEDOM: SOCIALISM CURRICULUM PROGRAM 150,000

YOUNG AMERICA'S FOUNDATION

11480 COMMERCE PARK DRIVE SUITE 600
RESTON,VA20191 		NONE PC PUBLIC EDUCATIONAL OUTREACH 100,000
Total .................................right arrow 3a 70,760,000
bApproved for future payment

VICTIMS OF COMMUNISM FOUNDATION
900 15TH ST NW
WASHINGTON,DC20005 		NONE PC RESEARCH AND PUBLIC EDUCATIONAL OUTREACH 500,000
Total ................................. right arrow 3b 500,000
Form 990-PF (2023)
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
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 ........... 		    14 116,394  
4 Dividends and interest from securities ....     14 19,115,149  
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 28,604,374  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aGRANTS REPAID 		    01 113,500  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 47,949,417 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
47,949,417
(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 (2023)
Form 990-PF (2023)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 385,897 190,287   190,287

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

TY 2023 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
BEST FRIENDS FOUNDATION
  		4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		2021-10-29 300,000 PROMOTING SOCIAL EMOTIONAL LEARNING 300,000 NO 9/6/24 2024-09-06 FUNDS WERE USED FOR THE PURPOSE INTENDED.
BEST FRIENDS FOUNDATION
  		4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		2022-11-14 600,000 TOWARDS HOW TO BE YOUR BEST SELF: PROMOTING SOCIAL-EMOTIONAL LEARNING 600,000 NO 9/6/24 2024-09-06 FUNDS WERE USED FOR THE PURPOSE INTENDED.
ENCOUNTER FOR CULTURE AND EDUCATION
  		900 BROADWAY STE 601
NEW YORK,NY10003 		2023-04-25 30,000 SUPPORT FOR ENCOUNTER BOOKS EDUCATIONAL PROGRAM 30,000 NO 9/4/24 2024-09-04 FUNDS WERE USED FOR THE PURPOSE INTENDED.
MARY CHRISTIE INSTITUTE
  		80 HAYDEN AVE
LEXINGTON,MA02421 		2023-02-03 100,000 GENERAL OPERATING SUPPORT 100,000 NO 4/30/23 2024-09-05 FUNDS WERE USED FOR THE PURPOSE INTENDED.
BEST FRIENDS FOUNDATION
  		4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		2023-03-16 30,000 BFF - SUMMER BRIDGE PROGRAM AND CHOIR PROGRAMS 30,000 NO 9/5/24 2024-09-05 FUNDS WERE USED FOR THE PURPOSE INTENDED.
BEST FRIENDS FOUNDATION
  		4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		2023-03-17 560,000 PROGRAM AND OPERATING SUPPORT 558,174 NO 9/5/24 2024-09-05 FUNDS WERE USED FOR THE PURPOSE INTENDED.

TY 2023 InvestmentsCorpBondsSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Name of Bond End of Year Book Value End of Year Fair Market Value
VANGUARD INTERMEDIATE TERM BOND ETF 108,917,880 108,917,880
VANGUARD LONG-TERM CORP BOND 36,949,150 36,949,150
VANGUARD TOTAL BOND MARKET ETF 118,275,755 118,275,755

TY 2023 InvestmentsCorpStockSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES COM 841,486 841,486
ADOBE INC 851,945 851,945
ALPHABET INC CAP STOCK CLASS A 1,707,012 1,707,012
ALPHABET INC CAP STOCK CLASS C 2,020,373 2,020,373
AMAZON.COM INC COM 3,266,710 3,266,710
AMERICAN TOWER CORPORATION 534,087 534,087
ANALOG DEVICES INC COM 889,350 889,350
APPLE INC COM 2,226,995 2,226,995
ASTRAZENECA PLC SPONSORED ADR 1,157,208 1,157,208
AUTOMATIC DATA PROCESSING INC COM 403,970 403,970
BLACKROCK INC COM 567,448 567,448
BLACKSTONE INC 942,100 942,100
CHENIERE ENERGY INC 209,632 209,632
CHEVRON CORP NEW COM 572,476 572,476
CISCO SYSTEMS INC COM 993,526 993,526
CME GROUP INC 626,745 626,745
CONOCOPHILLIPS 711,161 711,161
COSTCO WHOLESALE CORP NEW COM 593,412 593,412
DANAHER CORP COM 1,085,216 1,085,216
EDWARDS LIFESCIENCES CORP 518,881 518,881
FIDELITY NATIONAL INFORMATION SERVICES INC COM 385,349 385,349
FISERV INC COM 772,464 772,464
HOME DEPOT INC COM 1,331,100 1,331,100
HONEYWELL INTERNATIONAL INC COM 1,240,225 1,240,225
INTERCONTINENTAL EXCHANGE INC COM 878,204 878,204
IQVIA HOLDINGS INC COM 731,392 731,392
JPMORGAN CHASE & CO COM 805,253 805,253
LINDE PLC COM 1,007,882 1,007,882
MARTIN MARIETTA MATERIALS COM 764,829 764,829
MCDONALD'S CORP 574,933 574,933
MISCROSOFT CORP COM 4,880,999 4,880,999
MONDELEZ INTL INC COM 595,809 595,809
NEXTERA ENERGY INC COM 1,030,454 1,030,454
NVIDIA CORP 1,119,692 1,119,692
OTIS WORLDWIDE CORP COM 780,178 780,178
PEPSICO INC COM 810,646 810,646
PIONEER NAT RES CO COM 1,009,037 1,009,037
PNC FINL SERVICES GROUP INC COM 553,124 553,124
PROLOGIS INC COM 522,136 522,136
QUALCOMM INC COM 707,964 707,964
ROPER TECHNOLOGIES, INC. 1,027,100 1,027,100
RTX CORP 688,854 688,854
S&P GLOBAL INC COM 1,143,590 1,143,590
SALESFORCE INC 1,149,132 1,149,132
STRYKER CORP COM 492,612 492,612
T MOBILE US INC COM 836,923 836,923
TE CONNECTIVITY LTD REG SHARES 778,370 778,370
THERMO FISHER CORP COM 812,639 812,639
TJX COS INC NEW COM 614,925 614,925
UNION PAC CORP COM 1,001,638 1,001,638
UNITEDHEALTH GROUP INC COM 1,762,095 1,762,095
US BANCORP DEL COM NEW 623,102 623,102
VERALTO CORP 128,573 128,573
VICI PROPERTIES INC 251,852 251,852
VISA INC COM CLASS A 2,138,775 2,138,775
WALT DISNEY CO 663,270 663,270
WEC ENERGY GROUP INC 244,766 244,766
ZOETIS INC CLASS A 450,201 450,201

TY 2023 InvestmentsGovtObligationsSch
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
US Government Securities - End of Year Book Value:

176,678,066
US Government Securities - End of Year Fair Market Value:

176,678,066
State & Local Government Securities - End of Year Book Value:


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


0


TY 2023 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
ACL ALTERNATIVE FUND - CLASS A FMV 98,831,264 98,831,264
AHL (CAYMAN) SPC CLASS A1 EVOLUTION FMV 55,851,887 55,851,887
ATLAS POINT PRIVATE CREDIT OPPORTUNITIES FUND, LLC FMV 38,093 38,093
BLACKSTONE TACTICAL OPPORTUNITIES FUND II FMV 1,523,058 1,523,058
BLACKSTONE TACTICAL OPPORTUNITIES FUND IV FMV 1,022,079 1,022,079
BREVEN HOWARD LTD CLASS J FMV 40,774,190 40,774,190
ELLIOTT CO-INVESTMENT FMV 5,997,289 5,997,289
EXCEL VENTURE FUND II, LP FMV 242,349 242,349
EXODUS POINT PARTNERS INTL FUND FMV 18,241,317 18,241,317
GRAHAM ABSOLUTE RETURN LTD FMV 76,614,905 76,614,905
MILLENIUM INTERNATIONAL LTD CLASS GG FMV 120,497,251 120,497,251
NEXTECH CROSSOVER I SCSP FMV 8,781,204 8,781,204
NEXTECH VII ONCOLOGY SCSP FMV 5,795,600 5,795,600
OAKTREE OPPORTUNITIES FUND X FMV 1,535,838 1,535,838
OAKTREE OPPORTUNITIES FUND XB FMV 8,579,997 8,579,997
OAKTREE OPPORTUNITIES FUND XI FMV 20,747,125 20,747,125
PE PREMIER GA MAP OFFSHORE FMV 5,914,253 5,914,253
PINEBROOK CAPITAL PARTNERS II LP FMV 368,507 368,507
POINT72 CAPITAL INTL FMV 26,003,541 26,003,541
POINTER OFFSHORE II LTD CLASS P1 SER 1 FMV 4,336,974 4,336,974
POINTER OFFSHORE II, LTD - WPCA FMV 2,457,160 2,457,160
PRIVATE ADVISOR SMALL COMPANY PEF IX FMV 10,177,286 10,177,286
PRIVATE ADVISOR SMALL COMPANY PEF VIII FMV 13,394,733 13,394,733
RRE VENTURES VIII, LP FMV 2,167,155 2,167,155
SCHRODER FOCUS FUND II (CAYMAN) LTD FMV 18,104,264 18,104,264
VOLEON COMPOSITION INTERNATIONAL FUND LTD FMV 25,141,196 25,141,196
WEATHERLOW OFFSHORE FUND I LTD CLASS IA FMV 34,287,416 34,287,416
WISHBONE ACQUISITIONS LLC FMV 430,155 430,155
WMQS GLOBAL EQUITY OFFSHORE CL F-2 SERIES 01A FMV 60,583,222 60,583,222

TY 2023 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 387,656 364,894 22,762 22,762
COMPUTER SOFTWARE 479,400 479,400 0  
LEASEHOLD IMPROVEMENT 1,304,321 807,645 496,676 496,676


TY 2023 LegalFeesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL 592,468 59,247   489,632


TY 2023 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 171,463 326,689 326,689
RIGHT OF USE ASSET (NET) 702,364 525,879 525,879


TY 2023 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 133,127 0   143,026
OFFICE SUPPLIES 34,486 0   33,035
POSTAGE & DELIVERY 620 0   620
TELEPHONE & FAX 16,341 0   16,904
SUBSCRIPTIONS & MEMBERSHIPS 14,344 0   11,959
EQUIPMENT RENTAL & MAINTENANCE 13,688 0   12,263
OTHER FEES 675 0   673
PARTNERSHIP EXPENSES 0 3,332,228   0
BANK FEES 6,824 6,824   0
AMORTIZATION 146,472 0   0


TY 2023 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   -73,755  
PARTNERSHIP ROYALTIES   25,583  
PARTNERSHIP OTHER INCOME   -353,321  
PARTNERSHIP RENTAL INCOME   -884  
GRANTS REPAID 113,500   113,500


TY 2023 OtherIncreasesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Description Amount
UNREALIZED GAIN ON INVESTMENTS 26,396,351


TY 2023 OtherLiabilitiesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Description Beginning of Year - Book Value End of Year - Book Value
DEFERRED TAX LIABILITY 1,926,797 2,266,149
457(B) AND 457(F) PLAN LIABILITIES 171,463 326,689
LEASE LIABILITY 881,860 669,415


TY 2023 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 18,145 12,013   8,009
RETIREMENT MANAGEMENT 26,618 0   26,475
INVESTMENT FEES - ATLANTIC TRUST 238,115 238,351   0
INVESTMENT FEES - FSTC 1,772,865 1,772,865   0
CONSULTING - MANAGEMENT 290,860 323,625   20,100
CONSULTING-COMPUTER SUPPORT 85,459 0   88,593
CONSULTING - GRANTEES 138,789 0   158,511
CONSULTING - PUBLICATIONS/WRITING 1,000 0   1,000


TY 2023 TaxesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL TAXES 182,246 90,998   90,998
WORKERS COMP PREMIUMS 9,380 4,779   4,779
EXCISE TAX 2,049,308 0   0