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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
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$1,346,829,486J 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 113,495 113,495  
4 Dividends and interest from securities... 22,387,754 28,423,830  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 16,488,426
b Gross sales price for all assets on line 6a 334,074,075
7 Capital gain net income (from Part IV, line 2)... 27,773,137
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
5,318 195,044  
12 Total. Add lines 1 through 11........ 38,994,993 56,505,506  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 3,113,414 1,513,165   1,513,165
14 Other employee salaries and wages...... 1,121,597 539,465   539,465
15 Pension plans, employee benefits....... 1,061,228 536,288   536,288
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
100,150 10,015   184,221
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
408,373 204,801   204,801
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
2,371,805 1,965,915   387,497
17 Interest............... 9 0   9
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
1,668,586 94,973   94,973
19 Depreciation (attach schedule) and depletion... 17,610 0  
20 Occupancy.............. 210,512 0   197,976
21 Travel, conferences, and meetings....... 195,371 0   190,644
22 Printing and publications.......... 9,129 0   9,129
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,631,217 3,321,158   221,468
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 11,909,001 8,185,780   4,079,636
25 Contributions, gifts, grants paid....... 67,296,252 79,174,000
26 Total expenses and disbursements. Add lines 24 and 25 79,205,253 8,185,780   83,253,636
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -40,210,260
b Net investment income (if negative, enter -0-) 48,319,726
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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......... 179,496,217 167,805,457 167,805,457
3 Accounts receivable right arrow1,100,802
Less: allowance for doubtful accounts right arrow     1,100,802 1,100,802
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.......... 1,177,731 1,105,034 1,105,034
10a Investments—U.S. and state government obligations (attach schedule) 176,678,066 Click to see attachment
List of Attached Documents:
// Content
78,614,381 		78,614,381
b Investments—corporate stock (attach schedule)....... 56,029,820 Click to see attachment
List of Attached Documents:
// Content
96,454,668 		96,454,668
c Investments—corporate bonds (attach schedule)....... 264,142,785 Click to see attachment
List of Attached Documents:
// Content
256,677,031 		256,677,031
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).......... 668,439,308 Click to see attachment
List of Attached Documents:
// Content
743,867,598 		743,867,598
14 Land, buildings, and equipment: basis right arrow2,175,093
Less: accumulated depreciation (attach schedule) right arrow1,814,196 519,438 Click to see attachment
List of Attached Documents:
// Content
360,897 		360,897
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
857,471 		Click to see attachment
List of Attached Documents:
// Content
843,618 		Click to see attachment
List of Attached Documents:
// Content
843,618
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,347,340,836 1,346,829,486 1,346,829,486
Liabilities 17 Accounts payable and accrued expenses.......... 955,511 1,024,973
18 Grants payable................. 94,172,392 80,649,522
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
3,262,253 		Click to see attachment
List of Attached Documents:
// Content
3,934,759
23 Total liabilities (add lines 17 through 22)......... 98,390,156 85,609,254
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........... 1,248,950,680 1,261,220,232
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)..... 1,248,950,680 1,261,220,232
30 Total liabilities and net assets/fund balances (see instructions). 1,347,340,836 1,346,829,486
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
1,248,950,680
2
Enter amount from Part I, line 27a .....................
2
-40,210,260
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
52,479,812
4
Add lines 1, 2, and 3 ..........................
4
1,261,220,232
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
1,261,220,232
Form 990-PF (2024)
Form 990-PF (2024)
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 GAIN P    
d PARTNERSHIP LT CAPITAL GAIN 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 6,275,743   4,442,139 1,833,604
b 316,513,621   301,858,799 14,654,822
c 6,065,076     6,065,076
d 5,127,146     5,127,146
e 92,489     92,489
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       1,833,604
b       14,654,822
c       6,065,076
d       5,127,146
e       92,489
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 27,773,137
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) 1 671,644
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........................... 3 671,644
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- ..... 5 671,644
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 1,383,247
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 1,383,247
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 10 711,603
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow711,603 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
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 2024 or the taxable year beginning in 2024? 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 2024, 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 (2024)
Form 990-PF (2024)
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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 		776,545 78,246 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
ABBY SPENCER MOFFAT CEO & PRESIDENT
40.00 		832,604 119,780 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 		643,613 230,169 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
CHRISTOPHER BURN CHIEF INVESTMENT OFFICER
40.00 		894,228 144,266 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 		100,000 0 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
THOMAS SKILTON GENERAL COUNSEL AND SECRETARY
40.00 		687,546 150,184 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 		250,334 101,956 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
MARY HAMILTON PROJECT MANAGER
40.00 		206,011 92,565 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
YHEIZZI OWEN GRANTS MANAGER
40.00 		190,929 81,119 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
ELIZABETH SMIROLDO SENIOR RESEARCH ANAL
40.00 		194,400 64,699 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
LEAH THOMPSON SENIOR EXEC. ASSISTA
40.00 		151,200 55,616 0
3 BETHESDA METRO CENTER
BETHESDA,MD20814
Total number of other employees paid over $50,000...................right arrow 1
Form 990-PF (2024)
Form 990-PF (2024)
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 1,182,772
12505 PARK POTOMAC AVENUE 420
POTOMAC,MD20854
CLIFTONLARSONALLEN LLP ACCOUNTING SERVICES 373,295
220 6TH STREET SUITE 300
MINNEAPOLIS,MN55402
CIBC PRIVATE WEALTH INVESTMENT ADVISORY SERVICES 271,989
181 W MADISON STREET 36TH FLOOR
CHICAGO,IL60602
COLT STRATEGY CONSULTANT BUSINESS CONSULTING SERVICES 140,856
1663 LAUREL ST
SARASOTA,FL34236
RICHARD PAINTER ADVISORY SERVICES 100,000
654 WENTWORTH AVENUE
MENDOTA HEIGHTS,MN55118
Total number of others receiving over $50,000 for professional services.............right arrow9
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 (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
1,293,768,023
b
Average of monthly cash balances.......................
1b
34,462,596
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
1,328,230,619
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
1,328,230,619
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
19,923,459
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
1,308,307,160
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
65,415,358
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
65,415,358
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
671,644
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
53,056
c
Add lines 2a and 2b............................
2c
724,700
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
64,690,658
4
Recoveries of amounts treated as qualifying distributions................
4
5,318
5
Add lines 3 and 4............................
5
64,695,976
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
64,695,976
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
83,253,636
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
83,253,636
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 64,695,976
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022...... 17,449,101
e From 2023...... 10,199,952
f Total of lines 3a through e ........ 27,649,053
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 83,253,636
a Applied to 2023, 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 2024 distributable amount..... 64,695,976
e Remaining amount distributed out of corpus 18,557,660
5 Excess distributions carryover applied to 2024. 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 46,206,713
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		46,206,713
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022.... 17,449,101
d Excess from 2023.... 10,199,952
e Excess from 2024.... 18,557,660
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 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 (2024)
Form 990-PF (2024)
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 TOCQUEVILLE CONVERSATIONS 2024 35,000

ACADIA REPERTORY THEATRE

1154 MAIN STREET
MOUNT DESERT,ME04660 		NONE PC GENERAL OPERATING SUPPORT 5,000

ACTON ACADEMY FOUNDATION

2422 K ST NW
WASHINGTON,DC20037 		NONE PC ENTREPRENEURSHIP AND GROWTH PROJECTS 100,000

AMERICAN COUNCIL OF TRUSTEES AND ALUMNI

1730 M STREET NW SUITE 600
WASHINGTON,DC20036 		NONE PC RECLAIMING AMERICA'S HERITAGE OF FREE SPEECH IN HIGHER EDUCATION PROGRAM 1,000,000

AMERICAN FARMLAND TRUST

2000 PENNSYLVANIA AVENUE NW SUITE
5005
WASHINGTON,DC20006 		NONE PC GENERAL OPERATING SUPPORT 5,000

AMERICAN FOREIGN POLICY COUNCIL

509 C STREET NE
WASHINGTON,DC20002 		NONE PC EDUCATIONAL PROGRAMMING AND RESEARCH 225,000

AMERICAN HEART ASSOCIATION

7272 GREENVILLE AVE
DALLAS,TX75231 		NONE PC GENERAL OPERATING SUPPORT 5,000

AMERICAN PRIVATE RADIO

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

AMERICAN STRATEGY GROUP (THE CLAREMONT STRATEGY GROUP INC)

937 W FOOTHILL BLVD SUITE C
CLAREMONT,CA91711 		NONE PC EDUCATIONAL PROGRAMMING 600,000

AMERICAN SWISS FOUNDATION INC

730 THIRD AVENUE
NEW YORK,NY10017 		NONE PC STRENGTHENING OPERATIONS, EXISTING PROGRAMS, AND ACTIVATING THE ALUMNI NETWORK OF THE YOUNG LEADERS CONFERENCE 500,000

AMERICANS VETERANS CENTER FBO AMERICAN STUDIES CENTER

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

AMERICA'S FUTURE FOUNDATION

3434 WASHINGTON BLVD 1ST FLOOR
ARLINGTON,VA22201 		NONE PC TOWARDS THE CREATING YOUNG ADVOCATES FOR LIBERTY PROJECT 200,000

ANNE ARUNDEL COUNTY PUBLIC SCHOOLS

1179 HAMMOND LANE
ODENTON,MD21113 		NONE GOV SCIENCE FIELDTRIPS AND FACULTY LUNCHEONS 72,000

ARMY HISTORICAL FOUNDATION INC

1775 LIBERTY DRIVE STE 400
FORT BELVOID,VA22060 		NONE PC MUSEUM CONSTRUCTION PROJECT CAPITAL CAMPAIGN 125,000

ASIA AMERICA INITIATIVE LLC

1521 16TH STREET NW
WASHINGTON,DC20036 		NONE PC BUILDING RESILIENT COMMUNITIES: VISION, DUTY, AND PRACTICE PROJECT 450,000

ASSOCIATION FOR DIPLOMATIC STUDIES AND TRAINING

4000 ARLINGTON BLVD
ARLINGTON,VA22204 		NONE PC GENERAL OPERATING SUPPORT 50,000

AUTISM SOCIETY OF TEXAS

300 E HIGHLAND MALL BLVD SUITE 205
AUSTIN,TX78752 		NONE PC SENSORY KITS DISTRIBUTION 10,000

BAR HARBOR FOOD PANTRY

36 MOUNT DESERT STREET
BAR HARBOR,ME04609 		NONE PC GENERAL OPERATING SUPPORT 100,000

BECKET FUND

1919 PENNSYLVANIA AVENUE SUITE 400
WASHINGTON,DC20006 		NONE PC GENERAL OPERATING SUPPORT 200,000

BEST BUDDIES INTERNATIONAL INC

7956L TYSONS CORNER CENTER
TYSONS,VA22121 		NONE PC HOMECOMING: TWO PARTIES ONE PURPOSE GALA 10,000

BEST FRIENDS FOUNDATION INC

4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		NONE PC FALL PROGRAMMING AND GENERAL OPERATING SUPPORT 325,000

BEST FRIENDS FOUNDATION INC

4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		NONE PF SUMMER PROGRAMMING AND GENERAL OPERATING SUPPORT 88,000

BETHESDA GREEN INC

4825 CORDELL AVE
BETHESDA,MD20814 		NONE PC INNOVATION AND INCUBATION PROJECTS 170,000

BRADLEY IMPACT FUND

1400 N WATER STREET 300
MILWAUKEE,WI53202 		NONE PC DONOR ADVISED FUND CONTRIBUTION 100,000

BULLIS SCHOOL

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

BULLIS SCHOOL

10601 FALLS ROAD
POTOMAC,MD20854 		NONE PC SCHOLARSHIPS AND TECHNOLOGY INVERSTMENTS 1,000,000

CAPITAL AREA FOOD BANK

4900 PUERTO RICO AVENUE NE
WASHINGTON,DC20017 		NONE PC SUSTAINED FOOD INSECURITY PROGRAMS 150,000

CAPITAL CLUBHOUSE

1517 18TH STREET
WASHINGTON,DC20036 		NONE PC GENERAL OPERATING SUPPORT 150,000

CARING FOR MILITARY FAMILIES THE ELIZABETH DOLE FOUNDATION

1625 EYE STREET NW 725
WASHINGTON,DC20006 		NONE PC TOWARDS HEROES & HISTORY MAKERS CELEBRATION 10,000

CARING FOR MILITARY FAMILIES THE ELIZABETH DOLE FOUNDATION

600 NEW HAMPSHIRE AVENUE NW STE
1020
WASHINGTON,DC20037 		NONE PC TOWARDS HEROES & HISTORY MAKERS CELEBRATION 1,000,000

CASE WESTERN RESERVE UNIVERSITY FRANCES PAYNE BOLTON SCHOOL OF NURSING

10900 EUCLID AVENUE
CLEVELAND,OH44106 		NONE PC IMPROVING PRIMARY HEALTH CARE PROJECT 300,000

CENTER FOR STRATEGIC AND INTERNATIONAL STUDIES

1616 RHODE ISLAND AVE NW
WASHINGTON,DC20036 		NONE PC U.S. DEFENSE AND THE RISE OF CHINA PROJECT 225,000

CERTELL INC

2201 E 46TH STREET SUITE 302
INDIANAPOLIS,IN46205 		NONE PC EDUCATION PROGRAM 200,000

CHAPEL HAVEN ENDOWMENT

1040 WHALLEY AVE
NEW HAVEN,CT06515 		NONE PC STAFF INVESTMENT FUND 500,000

CHAPEL HAVEN INC

1040 WHALLEY AVE
NEW HAVEN,CT06515 		NONE PC FUND FOR STAFF SALARIES AND BENEFITS 500,000

CHAPEL HAVEN INC

1040 WHALLEY AVE
NEW HAVEN,CT06515 		NONE PC GENERAL OPERATING SUPPORT 1,000,000

CHAPEL HAVEN INC

1040 WHALLEY AVE
NEW HAVEN,CT06515 		NONE PC STAFF SUPPORT FUND 100,000

CITYDANCE PRODUCTIONS

4000 ALBERMARLE STREET NW SUITE 304
WASHINGTON,DC20016 		NONE PC CELEBRATION GALA PERFORMANCE 10,000

CONSTITUTING AMERICA

9382 MT VERNON CIRCLE
ALEXANDRIA,VA22309 		NONE PC PRESERVING LIBERTY THROUGH CONSTITUTIONAL EDUCATION PROJECT 200,000

CULTURE WISE STUDIES INC

4073 MISSION OAKS BLVD
CAMARILLO,CA93012 		NONE PC GENERAL OPERATING SUPPORT 500,000

DAILY CALLER NEWS FOUNDATION

1775 EYE STREET NW SUITE 1150-291
WASHINGTON,DC20006 		NONE PC 2024 ANNUAL AWARDS DINNER 50,000

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 5,000,000

DONORS TRUST

1800 DIAGONAL ROAD SUITE 280
ALEXANDRIA,VA22314 		NONE PC DONOR ADVISED FUND CONTRIBUTION 2,000,000

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 1,000,000

DOWNTOWN EVENING SOUP KITCHEN INC

311 TEMPLE STREET
NEW HAVEN,CT06511 		NONE PC FOOD PANTRY SUPPORT 15,000

ECONOMIC SECURITY COUNCIL INC

4390 KING STREET 711
ALEXANDRIA,VA22302 		NONE PF GENERAL OPERATING SUPPORT 50,000

ENCOUNTER FOR CULTURE AND EDUCATION

900 BROADWAY SUITE 601
NEW YORK,NY10003 		NONE POF ENCOUNTER BOOKS GALA 10,000

ENOUGH IS ENOUGH

1378 CARPERS FARM WAY
VIENNA,VA22182 		NONE PC GENERAL OPERATING SUPPORT 100,000

ENOUGH IS ENOUGH

1378 CARPERS FARM WAY
VIENNA,VA22182 		NONE PC CAMPAIGNS AND INITIATIVES TO PROTECT KIDS ONLINE 50,000

ENOUGH IS ENOUGH

1378 CARPERS FARM WAY
VIENNA,VA22182 		NONE PC GENERAL OPERATING SUPPORT 50,000

FORGE LEADERSHIP NETWORK

707 MIAMISBURG-CENTERVILLE RD
DAYTON,OH45459 		NONE PC REPLENISHING AND EXPANDING THE RANKS OF THE CONSERVATIVE MOVEMENT PROJECT 200,000

FOUNDATION FIGHTING BLINDNESS INC

7168 COLUMBIA GATEWAY DRIVE SUITE
100
COLUMBIA,MD21046 		NONE PC RESEARCH AND CAREER DEVELOPMENT AWARD PROGRAM 1,000,000

FOUNDATION FOR CULTURAL REVIEW (NEW CRITERION)

900 BROADWAY SUITE 602
NEW YORK,NY10003 		NONE PC VISITING CRITIC PROGRAM AND THE CIRCLE LECTURE SERIES 30,000

FOUNDATION FOR EXCELLENCE IN HIGHER EDUCATION INC

16 STOCKTON STREET
PRINCETON,NJ08540 		NONE PC RENEW UNIVERSITIES FROM WITHIN PROJECT 1,000,000

FRIENDS OF ISTITUTO BRUNO LEONI

1747 PENNSYLVANIA AVE NW 100
WASHINGTON,DC20006 		NONE PC GENERAL OPERATING SUPPORT 15,000

FUND FOR AMERICAN STUDIES

1706 NEW HAMPSHIRE AVE NW
WASHINGTON,DC20009 		NONE PC DEVELOPING COURAGEOUS LEADERS FOR LIBERTY PROJECT 700,000

GLOUCESTER INSTITUTE

3201 LEADERSHIP DRIVE
GLOUCESTER,VA23061 		NONE PC URGENT MAINTENANCE FOR HISTORIC PROPERTY 100,000

GLOUCESTER INSTITUTE

3201 LEADERSHIP DRIVE
GLOUCESTER,VA23061 		NONE PC PROGRAMS AND CAPACITY BUILDING 600,000

GOVERNMENT ACCOUNTABILITY INSTITUTE

1414 PIEDMONT DRIVE EAST
TALLAHASSE,FL32308 		NONE PC EXPANDING RESEARCH AND MEDIA FOOTPRINT PROJECT 200,000

HAZELDEN BETTY FORD FOUNDATION

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

HERITAGE FOUNDATION

214 MASSACHUSETTS AVE NE
WASHINGTON,DC20002 		NONE PC EDUCATION AND RESEARCH 5,000,000

HERO INC

117A PACKERLAND DRIVE
GREEN BAY,WI54303 		NONE PC VUNERABLE REFUGEE SUPPORT 100,000

HILLSDALE COLLEGE

33 E COLLEGE ST
HILLSDALE,MI49242 		NONE PC CONSTRUCTION OF THE GRADUATE SCHOOL OF CLASSICAL EDUCATION AND ENDOWMENT 5,000,000

HUDSON INSTITUTE INC

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

INDEPENDENT WOMEN'S FORUM

4 WEEMS LANE SUITE 312
WINCHESTER,VA22601 		NONE PC THE WINNING WOMEN PROGRAM 2,500,000

INSTITUTE FOR RESPONSIBLE CITIZENSHIP

1227 25TH STREET NW SUITE 600
WASHINGTON,DC20037 		NONE PC GENERAL OPERATING SUPPORT 100,000

INSTITUTE FOR RESPONSIBLE CITIZENSHIP

1227 25TH STREET NW SUITE 600
WASHINGTON,DC20037 		NONE PC GENERAL OPERATING SUPPORT 400,000

INSTITUTE FOR THE STUDY OF WAR

1400 16TH STREET SUITE 515
WASHINGTON,DC22044 		NONE PC EDUCATION PROGRAMS 50,000

INTERCOLLEGIATE STUDIES INSTITUTE INC

3901 CENTERVILLE RD
WILMINGTON,DE19807 		NONE PC CAMPUS CONFERENCE CENTER CONSTRUCTION SUPPORT 1,000,000

INTERNATIONAL SPY MUSEUM

700 LENFANT PLAZA SW
WASHINGTON,DC20024 		NONE PC YOUTH EDUCATION PROGRAMS, COMMUNITY INITIATIVES, AND THE ANALYST EXPERIENCE PROGRAM 400,000

IRON STAR FOUNDATION CORP

134 SOMERSET ROAD
STEVENSVILLE,MD21666 		NONE NC GENERAL OPERATING SUPPORT 750,000

ISLAND CONNECTIONS

93 COTTAGE STREET SUITE 101
BAR HARBOR,ME04609 		NONE PC GENERAL OPERATING SUPPORT 5,000

ISLAND HOUSING TRUST

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

ISLAND READERS & WRITERS AN INITIATIVE FOR MAINE CHILDREN

246 MAIN STREET
SOUTHWEST HARBOR,ME04679 		NONE PC ENHANCING VISIBILITY AND MISSION IMPACT PROJECT 50,000

JACK KEMP FOUNDATION

5614 CONNECTICUT AVENUE NW SUITE
305
WASHINGTON,DC20015 		NONE PC EDUCATIONAL PROGRAMS 75,000

JAMES W FOLEY LEGACY FOUNDATION

200 MARCY STREET SUITE 102
PORTSMOUTH,NH03801 		NONE PC HOSTAGE FREEDOM PROGRAM 50,000

JAMES WILSON INSTITUTE FOR NATURAL RIGHTS AND THE AMERICAN FOUNDING

124 WEST ST S SUITE 200
ALEXANDRIA,VA22314 		NONE PC MORAL RENEWAL OF CONSTITUTIONAL CONSERVATIVISM PROJECT 350,000

JEWISH INSTITUTE FOR NATIONAL SECURITY OF AMERICA

1101 14TH STREET NW SUITE 1030
WASHINGTON,DC20008 		NONE PC GENERAL OPERATING SUPPORT 300,000

KIWANIS FOUNDATION OF ARLINGTON VA

5154 TILDEN ST NW
WASHINGTON,DC20016 		NONE PC FAMILY HEALTH FAIR 5,000

LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM)

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

LAW ENFORCEMENT LEGAL DEFENSE FUND

2560 HUNTINGTON AVE SUITE 100
ALEXANDRIA,VA22303 		NONE PC DEFENDING THE POLICE PROJECT 350,000

LIFEFLIGHT FOUNDATION

13 MAIN ST
CAMDEN,ME04843 		NONE PC ENHANCING ACCESS TO CRITICAL CARE PROJECT 200,000

MAINE SEACOAST MISSION

127 WEST STREET
BAR HARBOR,ME04609 		NONE PC SUNBEAM GALA 20,000

MAINE SEACOAST MISSION

127 WEST STREET
BAR HARBOR,ME04609 		NONE PC FOOD SECURITY AND HEALTH INITIATIVES 350,000

MASTERS SCHOOL

49 CLINTON AVENUE
DOBBS FERRY,NY10522 		NONE PC ANNUAL FUND 50,000

MAYO CLINIC

200 FIRST STREET SW
ROCHESTER,MN55905 		NONE PC SUPPORT OF INTEGRATED CLINICAL PRACTICE, EDUCATION AND RESEARCH 2,000,000

MEDIA RESEARCH CENTER INC

2340 DULLES CORNER BLVD SUITE 1000
HERNDON,VA20171 		NONE PC UNLEASH FREE SPEECH PROJECT 1,000,000

MIDDLE EAST CHILDREN'S INSTITUTE

63 FOREST AVENUE SUITE 5B
LOCUST VALLEY,NY11560 		NONE PC MIDDLE EAST CHILDREN & WOMEN IN CRISIS INITIATIVE 50,000

MIDDLE EAST MEDIA RESEARCH INSTITUTE

1411 K STREET NW SUITE 1100
WASHINGTON,DC20005 		NONE PC RUSSIA-CHINA-IRAN NEW ALLIANCE/CHINA PROJECT 600,000

MIGHTY OAKS FOUNDATION

33134 MAGNOLIA CIR SUITE A UNIT 10
MAGNOLIA,TX77354 		NONE PC GENERAL OPERATING SUPPORT 300,000

MOUNT DESERT FESTIVAL OF CHAMBER MUSIC

1 KIMBALL RD
NORTHEAST HARBOR,ME04662 		NONE PC MUSIC DIRECTOR SUPPORT 35,000

MOUNT DESERT ISLAND HOSPITAL

10 WAYMAN LANE
BAR HARBOR,ME04609 		NONE PC CAPITAL CAMPAIGN 400,000

MOUNT DESERT ISLAND YMCA

21 PARK STREET
BAR HARBOR,ME04609 		NONE PC ADVANCING A SUSTAINABLE FUTURE PROJECT 50,000

MOUNT DESERT NURSING ASSOCIATION

12 SUMMIT RD
NORTHEAST HARBOR,ME04660 		NONE PC CAPITAL CAMPAIGN 75,000

MOUNT DESERT NURSING ASSOCIATION

12 SUMMIT RD
NORTHEAST HARBOR,ME04660 		NONE PC GENERAL OPERATING SUPPORT 75,000

MYSA SCHOOL INC

1500 HARVARD ST NW
WASHINGTON,DC20009 		NONE PC MODEL EXPANSION PROJECT 800,000

NATIONAL ASSOCIATION OF SCHOLARS

420 MADISON AVE 7TH FLOOR
NEW YORK,NY10017 		NONE PC THE ROOTS OF ANTISEMITISM IN AMERICAN HIGHER EDUCATION PROJECT 275,000

NATIONAL CENTER FOR PUBLIC POLICY RESEARCH

2005 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20036 		NONE PC ABLE AMERICANS PROJECT 300,000

NATIONAL CENTER FOR PUBLIC POLICY RESEARCH

2005 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20036 		NONE PC ABLE AMERICANS PROJECT 400,000

NATIONAL HISTORICAL SOCIETY

1607 22ND ST NW SUITE 1-B
WASHINGTON,DC20008 		NONE PC SUPPORT FOR PUBLISHING AND EDUCATION IN AMERICAN HISTORY 100,000

NATIONAL PARK TRUST

401 EAST JEFFERSON STREET 207
ROCKVILLE,MD20850 		NONE PC TRANSFORMATIVE PARK EXPERIENCES FOR DC YOUTH AND MILITARY FAMILIES PROGRAMS 260,000

NATIONAL TAXPAYERS UNION FOUNDATION

122 C ST NW SUITE 700
WASHINGTON,DC20001 		NONE PC GENERAL OPERATING SUPPORT 275,000

NAVY SEALS FOUNDATION

1619 D STREET
VIRGINIA BEACH,VA23459 		NONE PC TAMPA BAY FROGMAN SWIM 50,000

NETWORK FOR TEACHING ENTREPRENEURSHIP (NFTE)

120 WALL STREET 18TH FLOOR
NEW YORK,NY10005 		NONE PC STEVE MARIOTTI LEGACY FUND 25,000

NETWORK OF ENLIGHTENED WOMEN

1360 EAST CAPITOL STREET NE
WASHINGTON,DC20003 		NONE PC EDUCATION PROGRAMS 200,000

NORTHEAST HARBOR LIBRARY

1 JOY RD
NORTHEAST HARBOR,ME04662 		NONE PC GENERAL OPERATING SUPPORT, SCHOLARSHIPS AND VOCATIONAL PROGRAMS 45,000

OUR COMMUNITY SALUTES-USA

41 COHASSET LANE
NEW JERSEY,NJ08003 		NONE PC MILITARY ENLISTEE AND FAMILY PROGRAMS 700,000

PACIFIC LEGAL FOUNDATION

930 G STREET
SACRAMENTO,CA95814 		NONE PC RECLAIMING LIBERTY IN THE COURTS OF LAW AND PUBLIC OPINION PROJECT 250,000

PACIFIC RESEARCH INSTITUTE FOR PUBLIC POLICY

101 MONTGOMERY STREET SUITE 1300
SAN FRANCISCO,CA94104 		NONE PC 2024-2025 HEALTH CARE COMMUNICATIONS STRATEGY INITIATIVE 150,000

PARLIAMENTARY INTELLIGENCE-SECURITY FORUM

20 F ST NW SUITE 700
WASHINGTON,WA20001 		NONE PC EDUCATIONAL PROGRAMMING 200,000

PENTAGON MEMORIAL FUND INC

901 N GLEBE ROAD SUITE 200
ARLINGTON,VA22203 		NONE PC 9/11 PENTAGON MEMORIAL VISITOR EDUCATION CENTER AND GENERAL OPERATING FUNDS 1,250,000

PRAGER UNIVERSITY FOUNDATION

15021 VENTURA BLVD 552
SHERMAN OAKS,CA91403 		NONE PC THE FUTURE OF AMERICAN IDEAS AND VALUES PROJECT 300,000

SALUDA CHARITABLE FOUNDATION

30 SALUDA TRAIL
W CHARLESTON,SC29169 		NONE PF HURRICANE HELENE RELIEF EFFORTS 20,000

SAMARITAN'S PURSE

801 BAMBOO RD
BOONE,NC28607 		NONE PC HURRICANE HELENE RESPONSE 50,000

SAMARITAN'S PURSE

801 BAMBOO RD
BOONE,NC28607 		NONE PC HURRICANE HELENE RESPONSE 50,000

SIBLEY MEMORIAL HOSPITAL FOUNDATION

5255 LOUGHBORO ROAD NW
WASHINGTON,DC20016 		NONE PC NURSING RECOGNITION AND SUPPORT PROGRAM 100,000

SPAULDING REHABILITATION HOSPITAL

300 FIRST AVENUE
CHARLESTOWN,MA02129 		NONE PC JOHN MEANS SPENCER CAREGIVER AWARDS 175,000

SPECIAL OPERATIONS WARRIOR FOUNDATION

1137 MARBELLA PLAZA DRIVE
TAMPA,FL33619 		NONE PC SCHOLARSHIPS AND FAMILY OUTREACH PROGRAMS 150,000

SPEECH FIRST INC

1300 I ST NW SUITE 400E
WASHINGTON,DC20005 		NONE PC CAMPUS FREE SPEECH PROJECT 300,000

STEAMBOAT INSTITUTE

27855 WHITEWOOD DRIVE EAST
STEAMBOAT SPRINGS,CO80487 		NONE PC COLLEGE CAMPUS DEBATE PROGRAM 125,000

SUBURBAN HOSPITAL FOUNDATION INC

8600 OLD GEORGETOWN RD
BETHESDA,MD20814 		NONE SO I NURSING EXCELLENCE PROGRAMS AT SUBURBAN HOSPITAL 150,000

TENEO NETWORK INC

2605 W 8TH STREET
AUSTIN,TX78703 		NONE PC EDUCATION PROGRAMS 600,000

TEXAS A&M UNIVERSITY

2132 ALLEN BUILDING 4220 TAMU
COLLEGE STATION,TX77843 		NONE PC BUSH SCHOOL OF GOVERNMENT AND PUBLIC SERVICE GRADUATE PROGRAM 3,500,000

TEXAS A&M UNIVERSITY

2132 ALLEN BUILDING 4220 TAMU
COLLEGE STATION,TX77843 		NONE PC BUSH SCHOOL OF GOVERNMENT AND PUBLIC SERVICE GRADUATE PROGRAM 3,500,000

THE FEDERALIST SOCIETY FOR LAW AND PUBLIC POLICY STUDIES

1776 I STREET NW STE 300
WASHINGTON,DC20006 		NONE PC EDUCATIONAL PROGRAMS 2,000,000

THE JACKSON LABORATORY

10 DISCOVERY DRIVE
FARMINGTON,CT06032 		NONE PC VISION RESEARCH 2,000,000

UNITED SERVICE ORGANIZATIONS INC

2111 WILSON BLVD SUITE 1200
ARLINGTON,VA22201 		NONE PC EUROPEAN EXPANSION & FAMILY SUPPORT CAMPAIGN 500,000

UNITED STATES FOUNDATION FOR THE COMMEMORATION OF THE WORLD WARS

701 PENNSYLVANIA AVENUE NW SUITE
123
WASHINGTON,DC20004 		NONE PC WORLD WAR I COMMEMORATION PERFORMANCE SERIES 50,000

US ARMY 5TH ARMY ASSOCIATION

230 GEDDINGTON
SHAVANO PARK,TX78249 		NONE PC THE PATRIOTISM TRAIL PROJECT 75,000

VICTIMS OF COMMUNISM MEMORIAL FOUNDATION

900 15TH ST NW
WASHINGTON,DC20005 		NONE PC COUNTERING COMMUNIST INFLUENCE THROUGH PUBLIC EDUCATION, RESEARCH, AND POLICY STUDIES PROJECTS 500,000

WADSWORTH-SULGRAVE HISTORIC PRESERVATION FOUNDATION

1801 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20036 		NONE PC HISTORIC PRESERVATION AND REPAIRS 50,000

WEALTH OF NATIONS INSTITUTE INC

4023 KENNETT PIKE 50660
WILMINGTON,DE19807 		NONE PC GENERAL OPERATING SUPPORT 127,000

WILLOWIND THERAPEUTIC RIDING CENTER

1140 STATE HWY 3
BAR HARBOR,ME04609 		NONE PC THE CARRYING OUR COMMUNITY PROJECT 10,000

WOODROW WILSON INTERNATIONAL CENTER FOR SCHOLARS

1300 PENNSYLVANIA AVENUE NW SUITE 8
WASHINGTON,DC20004 		NONE PC ADVANCING EXPERTISE ON RUSSIAN CHALLENGES TO U.S. NATIONAL SECURITY PROJECT 125,000

YOUNG AMERICA'S FOUNDATION

11480 COMMERCE PARK DRIVE SUITE 600
RESTON,VA20191 		NONE PC CONSERVATIVE CAMPUS OUTREACH EXPANSION PROJECT 100,000
Total .................................right arrow 3a 79,892,000
bApproved for future payment

TIM TEBOW FOUNDATION
7700 SQUARE LAKE BLVD
JACKSONVILLE,FL32256 		NONE PC TOWARDS THE RISING LIGHT RIDGE PROJECT. 1,000,000
Total ................................. right arrow 3b 1,000,000
Form 990-PF (2024)
Form 990-PF (2024)
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 ........... 		    14 113,495  
4 Dividends and interest from securities ....     14 22,387,754  
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 16,488,426  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aGRANTS REPAID 		    01 5,318  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 38,994,993 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
38,994,993
(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 (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 408,373 204,801   204,801

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

TY 2024 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
ENCOUNTER FOR CULTURE AND EDUCATION
  		900 BROADWAY STE 601
NEW YORK,NY10003 		2024-11-06 10,000 SUPPORT FOR ENCOUNTER BOOKS EDUCATIONAL PROGRAM 10,000 NO 9/4/2025 2025-09-04 FUNDS WERE USED FOR THE PURPOSE INTENDED.
ECONOMIC SECURITY COUNCIL INC
  		4390 KING STREET 711
ALEXANDRIA,VA22302 		2024-09-24 50,000 GENERAL SUPPORT 1,655 NO 9/11/2025 2025-09-11 FUNDS WERE USED FOR THE PURPOSE INTENDED.
BEST FRIENDS FOUNDATION
  		4 LAUREL PARKWAY
CHEVY CHASE,MD20815 		2024-07-02 88,000 SUMMER PROGRAMMING AND GENERAL OPERATING SUPPORT 88,000 NO 9/18/2025 2025-09-18 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 560,000 NO 9/18/2025 2025-09-18 FUNDS WERE USED FOR THE PURPOSE INTENDED.
IRON STAR FOUNDATION CORP
  		134 SOMERSET ROAD
STEVENSVILLE,MD21666 		2024-11-22 750,000 GENERAL OPERATING SUPPORT 131,329 NO 9/18/2025 2025-09-18 FUNDS WERE USED FOR THE PURPOSE INTENDED.
SALUDA CHARITABLE FOUNDATION
  		30 SALUDA TRAIL
W CHARLESTON,SC29169 		2024-10-20 20,000 HURRICANE HELENE RELIEF 20,000 NO 9/30/2025 2025-09-30 FUNDS WERE USED FOR THE PURPOSE INTENDED.

TY 2024 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 106,564,980 106,564,980
VANGUARD LONG-TERM CORP BOND 34,473,580 34,473,580
VANGUARD TOTAL BOND MARKET ETF 115,638,471 115,638,471

TY 2024 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 903,070 903,070
ADOBE INC 1,114,368 1,114,368
ALPHABET INC CAP STOCK CLASS A 2,395,024 2,395,024
ALPHABET INC CAP STOCK CLASS C 2,769,188 2,769,188
AMAZON.COM INC COM 4,931,887 4,931,887
AMERICAN TOWER CORPORATION 626,895 626,895
ANALOG DEVICES INC COM 620,596 620,596
APPLE INC COM 4,130,928 4,130,928
ASTRAZENECA PLC SPONSORED ADR 1,180,277 1,180,277
AUTOMATIC DATA PROCESSING INC COM 531,305 531,305
BLACKROCK INC COM 744,230 744,230
BLACKSTONE INC 1,295,564 1,295,564
CHENIERE ENERGY INC 276,753 276,753
CHEVRON CORP NEW COM 555,896 555,896
CISCO SYSTEMS INC COM 1,190,394 1,190,394
CME GROUP INC 728,970 728,970
CONOCOPHILLIPS 633,795 633,795
DANAHER CORP COM 842,448 842,448
ELEVANCE HEALTH, INC. 433,089 433,089
FIDELITY NATIONAL INFORMATION SERVICES INC COM 780,319 780,319
FISERV INC COM 1,234,780 1,234,780
HOME DEPOT INC COM 971,697 971,697
HONEYWELL INTERNATIONAL INC COM 709,972 709,972
INTERCONTINENTAL EXCHANGE INC COM 1,064,527 1,064,527
IQVIA HOLDINGS INC COM 843,617 843,617
JPMORGAN CHASE & CO COM 1,189,441 1,189,441
LINDE PLC COM 890,930 890,930
MARTIN MARIETTA MATERIALS COM 695,725 695,725
MCDONALD'S CORP 902,138 902,138
META PLATFORMS INC 769,946 769,946
MICROSOFT CORP COM 5,650,629 5,650,629
MONDELEZ INTL INC COM 514,156 514,156
MONSTER BEVERAGE CORP 731,057 731,057
NEXTERA ENERGY INC COM 754,394 754,394
NVIDIA CORP 4,380,540 4,380,540
OREILLY AUTOMOTIVE 400,800 400,800
OTIS WORLDWIDE CORP COM 832,193 832,193
PEPSICO INC COM 760,908 760,908
PNC FINL SERVICES GROUP INC COM 719,523 719,523
PROLOGIS INC COM 689,164 689,164
QUALCOMM INC COM 1,104,681 1,104,681
ROPER TECHNOLOGIES, INC. 793,811 793,811
RTX CORP 995,308 995,308
S&P GLOBAL INC COM 735,092 735,092
SALESFORCE INC 1,846,839 1,846,839
STRYKER CORP COM 620,006 620,006
T MOBILE US INC COM 540,789 540,789
TE CONNECTIVITY LTD REG SHARES 1,039,106 1,039,106
THERMO FISHER CORP COM 823,524 823,524
TJX COS INC NEW COM 830,327 830,327
UNION PACIFIC CORP COM 973,731 973,731
UNITEDHEALTH GROUP INC COM 1,951,102 1,951,102
US BANCORP DEL COM NEW 711,423 711,423
VANGUARD S&P 500 ETF 26,765,387 26,765,387
VICI PROPERTIES INC 402,806 402,806
VISA INC COM CLASS A 2,443,305 2,443,305
WALT DISNEY CO 1,046,913 1,046,913
WEC ENERGY GROUP INC 286,634 286,634
WORKDAY INC 763,511 763,511
ZOETIS INC CLASS A 389,240 389,240

TY 2024 InvestmentsGovtObligationsSch
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
US Government Securities - End of Year Book Value:

78,614,381
US Government Securities - End of Year Fair Market Value:

78,614,381
State & Local Government Securities - End of Year Book Value:


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


0


TY 2024 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 81,120,637 81,120,637
AHL (CAYMAN) SPC CLASS A1 EVOLUTION FMV 52,431,607 52,431,607
APOLLO CREDIT FUND LTD FMV 26,777,966 26,777,966
BLACKSTONE TACTICAL OPPORTUNITIES FUND II FMV 1,462,273 1,462,273
BLACKSTONE TACTICAL OPPORTUNITIES FUND IV FMV 5,741,667 5,741,667
BREVEN HOWARD LTD CLASS J FMV 42,834,958 42,834,958
ELLIOT CO-INVESTMENT FMV 5,062,874 5,062,874
ELLIOTT INTERNATIONAL LIMITED - C FMV 1,552,702 1,552,702
ELLIOTT INTERNATIONAL LIMITED - C (PENDING) FMV 3,543,595 3,543,595
EXCEL VENTURE FUND II, LP FMV 260,054 260,054
EXODUS POINT PARTNERS INTL FUND FMV 20,250,019 20,250,019
EXXON MOBIL CORP FMV 1,155,947 1,155,947
GRAHAM ABSOLUTE RETURN LTD FMV 84,929,371 84,929,371
MILLENIUM INTERNATIONAL LTD CLASS GG FMV 138,225,756 138,225,756
NEXTECH CROSSOVER I SCSP FMV 6,866,749 6,866,749
NEXTECH VII ONCOLOGY SCSP FMV 4,867,104 4,867,104
NEXTECH VIII SCSP FMV 646,610 646,610
OAKTREE OPPORTUNITIES FUND X FMV 1,475,934 1,475,934
OAKTREE OPPORTUNITIES FUND XB FMV 6,986,848 6,986,848
OAKTREE OPPORTUNITIES FUND XI FMV 17,886,960 17,886,960
PE PREMIER GA MAP OFFSHORE FMV 12,335,195 12,335,195
PINEBROOK CAPITAL PARTNERS II LP FMV 307,815 307,815
POINT72 CAPITAL INTL FMV 26,003,541 26,003,541
POINTER OFFSHORE II LTD CLASS P1 SER 1 FMV 3,660,289 3,660,289
POINTER OFFSHORE II, LTD - WPCA FMV 2,621,383 2,621,383
PRIVATE ADVISOR SMALL COMPANY PEF IX FMV 11,053,854 11,053,854
PRIVATE ADVISOR SMALL COMPANY PEF VIII FMV 12,998,961 12,998,961
RRE VENTURES VIII, LP FMV 3,041,015 3,041,015
SCHRODER FOCUS FUND II (CAYMAN) LTD FMV 11,752,064 11,752,064
VOLEON COMPOSITION INTERNATIONAL FUND LTD FMV 28,427,147 28,427,147
WEATHERLOW OFFSHORE FUND I LTD CLASS IA FMV 39,496,027 39,496,027
WISHBONE ACQUISITIONS LLC FMV 434,163 434,163
WMQS GLOBAL EQUITY OFFSHORE CL F-2 SERIES 01A FMV 77,390,553 77,390,553
WMQS GLOBAL EQUITY OFFSHORE CLASS B SER 11A FMV 10,265,960 10,265,960

TY 2024 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 391,372 380,678 10,694 10,694
COMPUTER SOFTWARE 479,400 479,400 0  
LEASEHOLD IMPROVEMENT 1,304,321 954,118 350,203 350,203


TY 2024 LegalFeesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL 100,150 10,015   184,221


TY 2024 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 326,689 491,350 491,350
RIGHT OF USE ASSET (NET) 525,879 347,365 347,365


TY 2024 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 138,206 0   131,459
OFFICE SUPPLIES 45,420 0   45,093
POSTAGE & DELIVERY 500 0   500
TELEPHONE & FAX 17,508 0   17,508
SUBSCRIPTIONS & MEMBERSHIPS 11,076 0   13,705
EQUIPMENT RENTAL & MAINTENANCE 12,138 0   12,611
OTHER FEES 592 0   592
PARTNERSHIP EXPENSES 0 3,313,547   0
BANK FEES 7,611 7,611   0
AMORTIZATION 146,472 0   0
UNRECOVERABLE DISBURSEMENT 1,251,694 0   0


TY 2024 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   -107,046  
PARTNERSHIP ROYALTIES   23,116  
PARTNERSHIP OTHER INCOME   285,249  
PARTNERSHIP RENTAL INCOME   -6,275  
GRANTS REPAID 5,318   5,318


TY 2024 OtherIncreasesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Description Amount
UNREALIZED GAIN ON INVESTMENTS 52,479,812


TY 2024 OtherLiabilitiesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Description Beginning of Year - Book Value End of Year - Book Value
DEFERRED TAX LIABILITY 2,266,149 2,995,350
457(B) AND 457(F) PLAN LIABILITIES 326,689 491,350
LEASE LIABILITY 669,415 448,059


TY 2024 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 60,550 33,916   22,611
RETIREMENT MANAGEMENT 31,054 0   30,780
INVESTMENT FEES - ATLANTIC TRUST 271,989 271,989   0
INVESTMENT FEES - FSTC 1,367,817 1,367,817   0
CONSULTING - MANAGEMENT 312,093 290,993   20,100
CONSULTING-COMPUTER SUPPORT 81,734 0   88,353
CONSULTING - GRANTEES 245,368 0   225,653
INVESTMENT MANAGEMENT FEES 1,200 1,200   0


TY 2024 TaxesSchedule
Name:
DIANA DAVIS SPENCER FOUNDATION INC
EIN:
20-3672969
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL TAXES 183,011 90,517   90,517
WORKERS COMP PREMIUMS 9,915 4,456   4,456
EXCISE TAX 1,475,660 0   0