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Non-profit

Leonard & Sophie Davis Fund

Location:

SAN FRANCISCO, CA
Tax ID:

94-3402266
Tax-Exempt Status:

501(c)(3)-PF

Budget (2020):

Revenue: $19,022,956
Expenses: $20,770,028
Assets: $181,442,219
Formation:

2001
President:

Alan Davis
President's Compensation:

Gross Salary: $15,000 1

References

  1. Leonard & Sophie Davis Fund, Return of Private Foundation (Form 990-PF), 2017, Part VIII Line 1

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The Leonard & Sophie Davis Fund is a private foundation making grants to left-of-center organizations associated with health, education, and Jewish philanthropy. 1 Alan Davis, the fund’s president, is an advisory board member of Patriotic Millionaires, an organization of rich individuals advocating for left-wing economic policies. 2 Leonard Davis, the Fund’s namesake, founded the Colonial Penn Life Insurance Company, and cofounded AARP, both of which were involved in non-profit mail scandals in the late 1970s. 3

The fund donated over $11 million dollars in 2016, with substantial annual contributions to notable left-wing advocacy groups like Demos, Tides Foundation, and Proteus Fund. 4

Background

Leonard Davis was the founder of the Colonial Penn Group of insurance companies and the co-founder acting president of AARP. Colonial Penn became an incredibly profitable company by being the sole group health insurance policy seller through AARP. 5 The US Postal Service headed a 2 ½ year investigation into these groups in the late 1970s, determining that AARP (and related group National Retired Teachers Association (NRTA)) acted as a marketing agent for Colonial Penn. 6 As principal stockholder, Davis was receiving $2.9 million in annual dividends from Colonial Penn. 7

Davis was a long-time supporter of the Democratic Party, contributing $100,000 to the unsuccessful 1974 New York gubernatorial campaign of U.S. Rep. Ogden Reid (D-NY). 8

In 2020, the Leonard & Sophie Fund, in collaboration with the WhyNot Initiative, launched the Crisis Charitable Commitment (CCC) to call on nonprofits and charitable foundations in doating 10% of their total earnings that year in response to the Covid-19 pandemic. 9 It was around the time that Davis released on op-ed to Fortune news media site in July 2020 criticizing, “those who control private foundations, sit on donor-advised funds, and rank in the top 0.1% of households,” 10 as “hoarders” and urged them to donate to the CCC in order for the philanthropic community to “step up.” 11

Board of Directors

Alan Davis is the son of Leonard and Sophie Davis and president and CEO of the Leonard and Sophie Davis Fund. He is an advisory board member of The Patriotic Millionaires and the director of its WhyNot Initiative. 12

Mary Lou Dauray is the vice president and CFO of the Leonard and Sophie Davis fund, and wife of Alan Davis. She is a political fine artist whose work focuses on environmental issues, with strong anti-coal and anti-nuclear energy sentiments. 13

Grantmaking

The Leonard and Sophie Davis Fund funds a number of major left-of-center advocacy organizations. In the foundation’s 2016 tax year, it made a total of $11.9 million in grants to all recipients. 14

In the organization’s 2015 tax year, notable grant recipients included the liberal judicial policy group American Constitution Society, the far-left think tank Demos, anti-Electoral College advocacy group FairVote, the state-level organizing group Maine People’s Resource Center, the pass-through funding entity New Venture Fund, the Piper Fund, the Proteus Fund, and the Tides Foundation. 15

Donation Recipients

References

  1. “Leonard and Sophie Davis.” The Hebrew University of Jerusalem. September 2019. Accessed September 5, 2019. https://en.davis.huji.ac.il/book/leonard-and-sophie-davis-0
  2. “Who We Are.” Patriotic Millionaires. 2010. Accessed September 5, 2019. https://patrioticmillionaires.org/who-we-are/
  3. Mintz, Morton. “2 Groups for Elderly May Lose Nonprofit Postal Status.” The Washington Post. January 3, 1979. Accessed September 5, 2019. https://www.washingtonpost.com/archive/politics/1979/01/03/2-groups-for-elderly-may-lose-nonprofit-postal-status/67c4968d-a978-4e4a-95f2-54a86f521020/
  4. Leonard & Sophie Davis Fund, Return of Private Foundation (Form 990-PF), 2017, Part VX Line 3a
  5. “Colonial Penn: What Next?” The New York Times. July 22, 1981. Accessed September 5, 2019. https://www.nytimes.com/1981/07/22/business/market-place-colonial-penn-what-next.html
  6. Mintz, Morton. “2 Groups for Elderly May Lose Nonprofit Postal Status.” The Washington Post. January 3, 1979. Accessed September 5, 2019. https://www.washingtonpost.com/archive/politics/1979/01/03/2-groups-for-elderly-may-lose-nonprofit-postal-status/67c4968d-a978-4e4a-95f2-54a86f521020/

  7. Mintz, Morton. “Two Nonprofit Organizations Accused as a ‘Cover.’” The Washington Post. May 3, 1978. Accessed September 5, 2019.  https://www.washingtonpost.com/archive/politics/1978/05/03/two-nonprofit-organizations-accused-as-a-cover/155d9f05-e3a8-40d1-9d11-69284c7c79b6/
  8. Wayne, Leslie. “Leonard Davis Dies at 76; Philanthropist and Insurer.” The New York Times. The New York Times, January 20, 2001. https://www.nytimes.com/2001/01/20/business/leonard-davis-dies-at-76-philanthropist-and-insurer.html.
  9. Davis, Alan. “Commentary: America’s Billionaires Have a Hoarding Problem.” Fortune. Fortune, July 14, 2020. https://fortune.com/2020/07/14/billionaires-philanthropy-coronavirus-crisis/.
  10. Davis, Alan. “Commentary: America’s Billionaires Have a Hoarding Problem.” Fortune. Fortune, July 14, 2020. https://fortune.com/2020/07/14/billionaires-philanthropy-coronavirus-crisis/.
  11. Davis, Alan. “Commentary: America’s Billionaires Have a Hoarding Problem.” Fortune. Fortune, July 14, 2020. https://fortune.com/2020/07/14/billionaires-philanthropy-coronavirus-crisis/.
  12. “Who We Are.” Patriotic Millionaires. 2010. Accessed September 5, 2019. https://patrioticmillionaires.org/who-we-are/
  13. “Bio.” Mary Lou Dauray. 2019. Accessed September 5, 2019. https://www.maryloudauray.com/bio/
  14. Leonard and Sophie Davis Fund, Return of a Private Foundation (Form 990-PF), 2016, Part XV Line 3
  15. Leonard and Sophie Davis Fund, Return of a Private Foundation (Form 990-PF), 2015, Part XV Line 3
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Nonprofit Information

  • Accounting Period: November - October
  • Tax Exemption Received: August 1, 2001

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2020 Nov Form PF $19,022,956 $20,770,028 $181,442,219 $1 $0 $0 $0 $0 PDF
    2019 Nov Form PF $18,434,364 $9,927,011 $180,629,594 $0 $0 $0 $0 $0 PDF
    2015 Nov Form PF $17,002,024 $9,105,472 $126,917,593 $0 $0 $0 $0 $0 PDF
    2014 Nov Form PF $14,892,218 $8,186,726 $126,602,700 $12,880 $0 $0 $0 $0 PDF
    2013 Nov Form PF $13,457,200 $6,113,095 $118,108,797 $0 $0 $0 $0 $0 PDF
    2012 Nov Form PF $9,446,086 $4,462,231 $92,073,390 $9,978 $0 $0 $0 $0 PDF
    2011 Nov Form PF $11,824,959 $4,057,269 $82,362,077 $0 $0 $0 $0 $0 PDF

    Additional Filings (PDFs)

    Leonard & Sophie Davis Fund

    PO BOX 590723
    SAN FRANCISCO, CA 94159-0723