Donors Trust INC FY2020 filing

Tax-deductible

Alexandria, VA501(c)(3)Since 1999Foundations & GrantmakersEIN 52-2166327Revenue $360.2M in FY2020

On file with the IRSdonorstrust.org1800 Diagonal Rd Ste 280, 22314-2840 · Alexandria, VATax-exempt since Sep 1999Publicly supported charity — 170(b)(1)(A)(vi)

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Support charities & sponsor programs that promote liberty- See Part III

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
$1.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $191.1M a year · 43% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 0.6% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
17 mo
of spending, in cash
Looks good: 17.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $450K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$389K
0.06% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$360.2M
Spent
$185.8M
To programs
99%
Net assets
$607.3M
By yearFY2020–FY2024
Revenue
$360.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$360.2M
FY2021$1.1B
FY2022$323.1M
FY2023$158.3M
FY2024$294.4M
Expenses
$185.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$185.8M
FY2021$191.9M
FY2022$248.1M
FY2023$357.9M
FY2024$291.5M
Net assets
$607.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$607.3M
FY2021$1.5B
FY2022$1.4B
FY2023$1.3B
FY2024$1.4B

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $184.1M Management & general 0% · $512K Fundraising 1% · $1.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
President and CEO
$390,000Pt VII · Sec A
CFO, COO and Treasurer
$278,300Pt VII · Sec A
Vice President/ Secretary
$215,000Pt VII · Sec A
$140,000Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Lawson R Bader’s $400K as President and CEO is at the 36th percentile of top reported officer pay among 129 $100M+ philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Lawson R Bader$399,997$393,490$387,750$365,000$390,000
Jeffrey C Zysik$312,413$305,587$295,150$290,000$278,300
Peter a Lipsett$240,536$227,897$228,500$225,100$215,000
Gregory P Conko$236,087$225,392$203,500——
Stephen M Johnson$188,141$181,250$108,000——
Lukas C Dwelly$186,290$179,667$105,625——
Stephanie L Giovanetti$170,558$156,175$148,000——
Christopher D Renner$163,134$161,704$154,150——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Administers donor-advised funds to support charities and foreign organizations that promote constitutional liberty, limited government, and free-market principles.

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Provided by the organization

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3 programs · $184.1M · in their own filed words · FY2020
01

Daf Program

A Donor Advised Fund (DAF) program allowing DAF contributors to advise grants that support charities which alleviate, through education, research and private initiatives, society's most pervasive and radical needs, including those relating to social welfare, health, environment, economics, governance, foreign relations and arts and…

$183.1Mprogram expense
02

Fiscal Sponsorship Program- Donors Trust serves as an incubator for organizations with missions that align with that of Donors Trust and that are in the process of applying for tax-exempt status, thereby allowing these start-up organizations a chance to begin operations while waiting for formal recognition of their non-profit status.

$936Kprogram expense
03

Grants to Foreign Ngos

Donors Trust initiated a program to make grants to foreign NGOs for which Donors Trust receives an equivalency determination that finds had the foreign organization been (1) a U.S. based organization and (2) applied for tax-exempt status the NGO would have received recognition as a 501(c)(3) publicly supported charity.

$32Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$450K
Grants paid · 3,800 grants · $1.2B · 2020–2024
America First Legal FoundationDC · FY2024$20,734,450
State Policy NetworkVA · FY2024$7,000,128
Institute for JusticeVA · FY2024$6,999,880
Consumers Research INCVA · FY2024$5,053,100
Texas A&m FoundationTX · FY2024$5,000,000
The Reason FoundationCA · FY2024$4,987,225
Teneo Network INCTX · FY2024$4,433,000
Real Clear FoundationIL · FY2024$4,150,000
Lucy Burns Institute INCWI · FY2024$3,129,038
Mackinac CenterMI · FY2024$2,885,200
Informing America FoundationDC · FY2024$2,800,000
AcaniNY · FY2024$2,770,000
Pacific Legal FoundationCA · FY2024$2,769,731
Competitive Enterprise InstituteDC · FY2024$2,751,250
DO No HarmVA · FY2024$2,750,000
See all 3,800 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$360.2M
Ln 12
Gifts and grantsLn 1h$354.6M
Investment incomeLn 3$5.6M
Money outPt IX
$185.8M
Ln 25
Programscol B$184.1M
Managementcol C$512K
Fundraisingcol D$1.2M
Owns and owesPt X
$607.3M
net assets · Ln 32
Cash and savingsLn 1–2$263.6M
Total assetsLn 16$607.7M
LiabilitiesLn 26$389K
PeoplePt VI, VII
8
listed · VII A
PaidVII A4
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$354.6M
Noncash giftsLn 1g$33.0M
Investment incomeLn 3$5.6M
Gains on assetsLn 7−$1.1M
Total revenueLn 12$360.2M
Assets in detailPt X, end of year
SavingsLn 2$263.6M
Cash and savings togetherLn 1–2$263.6M
InvestmentsLn 11–13$343.9M
Land, buildings, equipmentLn 10c$160K
Other assetsLn 15$32K
Total assetsLn 16$607.7M
LiabilitiesLn 26$389K
Net assetsLn 32$607.3M
OperationsPt I, VI
EmployeesI 513
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$104.1M$263.6M
InvestmentsLn 11–13$318.4M$343.9M
Land, buildings, equipmentLn 10c$100K$160K
Total assetsLn 16$422.6M$607.7M
LiabilitiesLn 26$307K$389K
Net assetsLn 32$422.3M$607.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$182.5M$182.5M
Grants and assistance to foreign recipientsLn 3$32K$32K
Pay of current officers, directors and key staffLn 5$999K$404K$270K$326K
Other salaries and wagesLn 7$608K$264K$96K$247K
Pension plan contributionsLn 8$54K$23K$8K$22K
Other employee benefitsLn 9$52K$19K$11K$22K
Payroll taxesLn 10$87K$36K$20K$31K
Legal feesLn 11b$7K$4K$4K
Accounting feesLn 11c$40K$16K$9K$14K
Investment management feesLn 11f$589K$588K$625
Other fees for servicesLn 11g$132K$5K$3K$124K
Advertising and promotionLn 12$115K$115K
Office expensesLn 13$177K$47K$28K$102K
Information technologyLn 14$40K$20K$20K
OccupancyLn 16$149K$62K$34K$54K
TravelLn 17$79K$33K$10K$36K
Conferences, conventions and meetingsLn 19$53K$53K
Depreciation, depletion and amortizationLn 22$27K$11K$6K$10K
InsuranceLn 23$17K$7K$4K$6K
Other expenses (24a–d)Ln 24$49K$7K$9K$33K
Total functional expensesLn 25$185.8M$184.1M$512K$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $294.4M$291.5M$2.9M$1.4B 990 PDF
FY2023 $158.3M$357.9M−$199.7M$1.3B 990 PDF
FY2022 $323.1M$248.1M$74.9M$1.4B 990 PDF
FY2021 $1.1B$191.9M$902.8M$1.5B 990 PDF
FY2020 Viewing $360.2M$185.8M$174.4M$607.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $360,225,715 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $311,778,812$354,640,056
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $12,193,718$5,585,659
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $323,972,530$360,225,715
I-13 Grants and similar amounts paidPrior year $162,803,597$182,536,130
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,620,248$1,800,171
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,786,686$1,473,400
I-18 Total expensesPrior year $166,210,531$185,809,701
I-19 Revenue less expensesPrior year $157,761,999$174,416,014
Part VI · Governance 3 of 4 board members independent, no flags
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $360,225,715 across 6 lines filed
VIII-1f All other contributions, gifts and grants$354,640,056
VIII-1g Noncash contributions (included above)$32,994,561
VIII-1h Total contributions, gifts and grants$354,640,056
VIII-3 Investment incomeExcluded from tax $6,731,143$6,731,143
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,145,484−$1,145,484
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $5,585,659$360,225,715
Part IX · Statement of functional expenses $185,809,701 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $182,504,130$182,504,130
IX-3 Grants and assistance to foreign recipientsPrograms $32,000$32,000
IX-5 Pay of current officers, directors and key staffPrograms $404,219 · Management $269,673 · Fundraising $325,594$999,486
IX-7 Other salaries and wagesPrograms $264,300 · Management $96,332 · Fundraising $247,340$607,972
IX-8 Pension plan contributionsPrograms $23,142 · Management $8,103 · Fundraising $22,386$53,631
IX-9 Other employee benefitsPrograms $18,579 · Management $11,205 · Fundraising $21,961$51,745
IX-10 Payroll taxesPrograms $36,215 · Management $19,647 · Fundraising $31,475$87,337
IX-11b Legal feesPrograms $3,565 · Management $3,739$7,304
IX-11c Accounting feesPrograms $16,471 · Management $8,936 · Fundraising $14,315$39,722
IX-11f Investment management feesPrograms $588,006 · Management $625$588,631
IX-11g Other fees for servicesPrograms $5,100 · Management $2,767 · Fundraising $124,433$132,300
IX-12 Advertising and promotionFundraising $114,812$114,812
IX-13 Office expensesPrograms $46,839 · Management $28,155 · Fundraising $102,218$177,212
IX-14 Information technologyPrograms $20,008 · Fundraising $20,007$40,015
IX-16 OccupancyPrograms $61,861 · Management $33,560 · Fundraising $53,764$149,185
IX-17 TravelPrograms $32,981 · Management $10,489 · Fundraising $35,649$79,119
IX-19 Conferences, conventions and meetingsFundraising $52,664$52,664
IX-22 Depreciation, depletion and amortizationPrograms $11,197 · Management $6,075 · Fundraising $9,732$27,004
IX-23 InsurancePrograms $6,866 · Management $3,725 · Fundraising $5,967$16,558
IX-24 Other expenses (24a–d)Programs $6,999 · Management $8,797 · Fundraising $33,078$48,874
IX-25 Total functional expensesPrograms $184,082,478 · Management $511,828 · Fundraising $1,215,395$185,809,701
Part X · Balance sheet $607,685,575 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $104,069,519$263,641,081
X-10c Land, buildings and equipment, netStart of year $100,300$160,125
X-11 Publicly traded securitiesStart of year $236,397,812$268,715,130
X-12 Other securitiesStart of year $81,994,216$75,136,975
X-15 Other assetsStart of year $36,586$32,264
X-16 Total assetsStart of year $422,598,433$607,685,575
X-17 Accounts payable and accrued expensesStart of year $306,800$388,911
X-26 Total liabilitiesStart of year $306,800$388,911
X-27 Net assets without donor restrictionsStart of year $422,291,633$607,296,664
X-32 Total net assets or fund balancesStart of year $422,291,633$607,296,664
X-33 Total liabilities and net assetsStart of year $422,598,433$607,685,575
Part XI · Reconciliation of net assets $607,296,664 net assets at year end
XI-1 Total revenue$360,225,715
XI-2 Total expenses$185,809,701
XI-3 Revenue less expenses$174,416,014
XI-4 Net assets at start of year$422,291,633
XI-5 Net unrealized gains (losses) on investments$10,589,017
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$607,296,664

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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