Form 990 Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(aX1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

OMB No 1545-0047

2006 Department of the Treasury Internal Revenue Serv,ce • Toe organization may have to use a copy of this return to satisfy state reporting requirements.

Open to Public Inspection

A For the 2006 calendar vear, or tax vear beainnina , 2006, and endina '

B Check 1f applicable C Name of organization D Employer ldentJficabon Number Please use

Donors Caoital Fund ~-=~~ IRS label Inc 54-1934032 or l!];,nt Number and street (or P O box 1f mail 1s not delivered to street addr) Room/suite E Telephone number Name change or e.

See P.O. Box 1305 Initial return specific (703) 535-3563

instruc· City, town or country State ZIP code+ 4 ~W:~ng LJ Cash IKJ Accrual Final return lions. F

I Amended return Alexandria VA 22313 n Other (specify) ..

D Application pending • Section 501(c)(3) organizations and 4947~aX1) nonexempt H and I are not appltcable to section 527 organizations

charitable trusts must attach a complete Schedule A H (a) Is this a group return for affiliates' D Yes ~ No (Form 990 or 990-EZ). H (b) If 'Yes.' enter number of affiliates .,

G Web site:., NI A H (c) Are all aff1hates included' Oves D No

J Organization type (If 'No.' attach a hst See 1nstruct1ons )

(check onlv one) ., [Kl 501(c) 3 ... (insert no) D 4947(a)(1) or 0 527 H (d) Is this a separate return filed by an

K Check here., LJ 1f the organization 1s not a 509(a)(3) supporting organization and its organization covered by a group ruling' nves lxl No gross receipts are normally not more than $25,000. A return 1s not required, but 1f the I Grouo Exemot1on Number .. organization chooses to file a return, be sure to file a complete return. M Check • LJ 1f the organization 1s not required

L Gross receipts: Add Imes 6b, Sb, 9b, and 1 Ob to line 12 ., 5 8, 5 5 2 , 14 8 . to attach Schedule B (Form 990, 990-EZ, or 990-PF)

I Part I I Revenue Exoenses and Chanaes in Net Assets or Fund Balances (See the mstruct,ons.) 1 Contributions, gifts, grants, and s1m1lar amounts received·

a Contributions to donor advised funds 1a 52,138,220. b Direct public support (not included on line 1 a) 1b

c Indirect public support (not included on line 1 a) 1c

d Government contributions (grants) (not included on line 1 a) 1d ·-

e T:f'~r&tii 1\"Jls (cash $ 51, 2 83, 2 2 0. noncash $ 855,000.) 1e 52,138,220. 2 Program service revenue including government fees and contracts (from Part VII, line 93) 2

3 Membership dues and assessments 3

4 Interest on savings and temporary cash investments 4 548,600. 5 D1v1dends and interest from securities 5 875,361. 6a Gross rents I ::I b Less: rental expenses

c Net rental income or (loss). Subtract line 6b from line Ga 6c

R 7 Other investment income (describe .. ) 7 1,780,988. E (A) Securities (B) Other v Sa Gross amount from sales of assets other E than inventory . 3,208.715. Sa N u b Less: cost or other basis and sales expenses 2,898,904. Sb E

c Gain or (loss) (attach schedule) See L-8 Stmt 309,811. Sc ---

d Net gain or (loss). Combine line Sc, columns (A) and (B) Bd 309 I 811. 9 Special events and act1v1t1es (attach schedule) If any amount 1s from gaming, check here .. 0

a Gross revenue (not including $ of contributions

reported on line 1 b) I 9al b Less. dm ci exp~.,_._ l'O't'= .. ~.~ g expenses 9b -1-1 :1-1 c Net mcor ne Or (I S >J IIUIII -'t,,'-C~o.;entS. !:iubtract line 9b from line 9a 9c

1 O a Gross sa ~ of inventory. less returns r~ allowances 11oal

b Less co \;Bl go~lcf 4 2007 0 10b -~-

c Gross prof1 or oss) from sales of mventoiy (atta~ schedule) Subtract line 1 Ob from line lOa 10c I 0::

11 Other re enue ~~N~~n. 1icr~03) - 11 264. 12 Total re ..;::"- 11.J2 3' 4 5, Ge • 7, Sd, 9c, lOc, and 11 12 55,653,244.

E 13 Program services (from line 44, column (B)) 13 19,167,819. x 14 Management and general (from line 44, column (C)) 14 612,541. p E 15 Fundra1sing (from line 44, column (D)) 15 28,405. N s 16 Payments to affiliates (attach schedule) 16 E s 17 Total exoenses. Add Imes 16 and 44, column (A) 17 19,808 765.

A 18 Excess or (def1c1t) for the year. Subtract line 17 from line 12 18 35,844,479. NS 19 Net assets or fund balances at beginning of year (from line 73, column (A)) 19 47,047 205. ES TE 20 Other changes in net assets or fund balances (attach explanation) 20 1,137,644. T

s 21 Net assets or fund balances at end of :tear Combine Imes 18, 19, and 20 21 84,029,328. BAA For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. TEEA0101 01118/07 Form 990 (2006)

g-/7~ fltl-- v\

Form 990 2006 Donors Ca ital Fund, Inc 54-1934032 Pa e 2 Part II Statement of Functional Expenses All organizations must complete column (A). Columns (8), CC), and CO) are

required for section 501 (c)(3) and (4) organizations and section 4947(a)(l J nonexempt charitable trusts but opt1onaf for others.

Do not include amounts reported on /me (A) Total (B) Program (C) Management (D) Fundra1s1ng 6b, Bb, 9b, 1 Ob, or 16 of Part I. services and aeneral

22a Grants paid from donor advised funds (attach sch) (cash $ 19,167,819.

non-cash $ 0.) If this amount includes ... D foreign grants, check here 22a 19,167,819. 19,167,819.

22 b Other grants and allocations (att sch) (cash $ o. non-cash $ 0.)

If this amount includes ... D foreign grants, check here 22b 0. 0.

23 Spec1f1c assistance to md1v1duals (attach schedule) 23

24 Benefits paid to or for members (attach schedule) 24

2Sa Compensation of current officers, directors, key employees, etc listed in Part V ·A (attach sch) 25a 0. 0. 0.

b Compensation of former officers, directors, key employees, etc listed in Part V-8 (attach sch) . 25b 0. 0. 0.

c Compensation and other d1stnbut1ons, not included above, to d1squailfled persons (as def med under section 4958(1)(1)) and persons described m section 4958(c)(3)(B) (attach schedule) ... 25c 0. 0. 0.

26 Salaries and wages of employees not included on Imes 25a, b, and c 26 0. 0. 0.

27 Pension plan contributions not included on Imes 25a, b, and c . . 27 0. 0. 0.

28 Employee benefits not included on Imes 25a · 27 28

29 Payroll taxes 29

30 Professional fundra1smg fees 30

31 Accounting fees 31 10,645. 0. 10,645.

0.

0.

0.

0.

0 .

0. 32 Legal fees 32 28,405. 0. o. 28,405. 33 Supplies 33 34 Telephone 34

35 Postage and sh1pp1ng 35 36 Occupancy 36 37 Equipment rental and maintenance 37

38 Printing and publications 38 39 Travel . 39

40 Conferences, conventions, and meetings .. 40

41 Interest 41

42 Deprec1at1on, depletion, etc (attach schedule) 42 43 Other expenses not covered above (1tem1ze).

a Taxes _______________ 43a 83,697. 0. 83,697. 0. b Investment fees _______ 43b 14, 581. 0. 14, 581. 0. c Admin_services ________ 43c 501,883. 0. 501,883. 0. d Reqistration fees ______ 43d 1,735. 0. 1,735. 0. e 43e -------------------f 431 -------------------g ___________________ 43a

44 Total functional expenses. Add Imes 22a throu~h 43g. (Or~amzat1ons completmj columns

44 19,808,765. 19,167,819. 612,541. CB) . D), carrv t ese totals to Imes 1 . 15) 28,405 . Joint Costs. Check .,.~ 1f you are following SOP 98-2 Are any Joint costs from a combined educational campaign and fundra1sing sohc1tat1on reported in (B) Program services? .,.0 Yes ~ No If 'Yes,' enter (i) the aggregate amount of these Joint costs $ , (ii) the amount allocated to Program services $ , (iii) the amount allocated to Management and general $ , and (iv) the amount allocated

to Fundra1sm $ BAA TEEA0102 01/23/07 Form 990 (2006)

Form 990 2006 Donors Ca ital Fund, Inc 54-1934032 Page3 Part Ill Statement of Pro ram Service Aecom lishments Form 990 1s available for public inspection and, for some people, serves as the primary or sole source of 1nformat1on about a particular organization. How the public perceives an organization in such cases may be determined by the information presented on its return. Therefore, please make sure the return 1s complete and accurate and fully describes, 1n Part Ill, the organization's programs and accomplishments

What 1s the organization's primary exempt purpose' • S!:!,P_port or~ desc in IRC 509 (al ( 1) & 509 (al (2) Program Service Expenses All organizations must describe their exempt purpose achievements in a clear and concise manner State the number of CRecl°l'~~~~~:!?,b~cJ~~;"d clients servedheublicat1ons issued, etc. Discuss achievements that are not measurable. (Section 501 (c)(3) and (4) organ- 4947(a)(ll trusts, but 1zat1ons and 4:1-+7faffl > nonexempt charitable trusts must also enter the amount of orants and allocations to others.) opt,onal for others>

a See Statement.L Attached.-----------------------------------

b _____________________________________________________ _

----------------------------------------------------n (Grants and allocations $ ) If this amount includes foreign grants, check here ~

c _____________________________________________________ _

----------------------------------------------------n (Grants and allocations $ ) If this amount includes fore1on orants, check here ~

d

e Other program services

(Grants and allocations $ ) If this amount includes foreign grants, check here ~ 0 f Total of Program Service Expenses (should equal line 44, column (8), Program services)

BAA

TEEA0103 01118/07

19,182,819.

19,182,819. Form 990 (2006)

Form 990 (2006) Donors Caoi tal Fund, Inc I Part IV I Balance Sheets (See the mstructions.) Note: lNhere reqwred, attached schedules and amounts w1thm the descnption

column should be for end-of-year amounts only.

45 Cash - non-interest-bearing 46 Savings and temporary cash investments

47 a Accounts receivable b Less: allowance for doubtful accounts

48a Pledges receivable b Less: allowance for doubtful accounts

49 Grants receivable

47a 47b

48a 48b

50 a Receivables from current and former officers, directors, trustees, and key employees (attach schedule)

b Receivables from other d1squal1f1ed persons (as defined under section 4958(f)(l))

E (attach schedule) . .

f 51

a :~~e;:~e:s :neds~~::: ::c:~:~:: 4958(c)(3)(8) (attachl s

5

c

1

haedl ule)

~ b Less: allowance for doubtful accounts ,__5_1_b _________ , .___.,__ _______ -+---------+-=-=-=+--------52 Inventories for sale or use 53 Prepaid expenses and deferred charges 54a Investments - publicly-traded securities L-54a Stmt.,. D Cost

b Investments - other securities (attach sch) .,. D Cost

~FMV

0FMV

55a Investments - land, buildings, & equipment: basis I 55al

b Less: accumulated deprec1at1on (attach schedule) . ~5_5_b~---------,,-----------,~~--------

56 Investments - other (attach schedule) 57a Land, buildings, and equipment: basis

b Less. accumulated deprec1at1on (attach schedule)

58 Other assets, including program-related investments

L-56 Strnt

I S1•1 57b

(describe • ______________________________ )

59 Total assets <must eaual line 74). Add Imes 45 through 58

60 Accounts payable and accrued expenses

61 Grants payable L 62 Deferred revenue I

63 Loans from officers, directors, trustees, and key employees (attach schedule)

64a Tax-exempt bond liab11it1es (attach schedule) b Mortgages and other notes payable (attach schedule)

A B I L I T I E s 65 Other liab11it1es (describe • Due to Donors Trust, Inc. ____ )

66 Total liabilities. Add Imes 60 throuah 65

Organizations that follow SFAS 117, check here • ~ and complete Imes 67

i through 69 and lines 73 and 74. 67 Unrestricted

l 5 69 Permanently restricted 2 Organizations that do not follow SFAS 117, check here •

70 through 74 ~ 70 Capital stock, trust principal, or current funds

68 Temporarily restricted

D and complete lines

D 71 B

Paid-in or capital surplus, or land, bu1ld1ng, and equipment fund Retained earnings, endowment, accumulated income, or other funds i 72

c 73 Total net assets or fund balances. Add Imes 67 through 69 or Imes 70 through ~ 72 (Column (A) must equal line 19 and column (8) must equal line 21)

74 Total liabilities and net assets/fund balances. Add Imes 66 and 73

BAA

TEEA0104 01/18107

--

57c

58 47,195,499. 59 84,191,586.

66 686. 60 77,178. 61 62

-- -

63 64a 64b

81,608. 65 85,080. 148,294. 66 162,258.

----

47,047,205. 67 84,029,328. 68 69

-- -

70 71

72

- --47,047.205. 73 84,029.328.

47,195,499. 74 84,191,586.

Form 990 (2006)

Form990 2006 Donors Ca ital Fund, Inc 54-1934032 Pages Part IV-A Reconciliation of Revenue per Audited Financial Statements with Revenue per Return (See the

instructions.)

a Total revenue, gains, and other support per audited financial statements a 56,805,888. b Amounts included on line a but not on Part I, line 12.

1 Net unrealized gains on investments b1 1,152,644. 2Donated services and use of facilities b2

3Recovenes of prior year grants b3

40ther (specify): -------------------------------b4 ---------------------------------------

Add Imes bl through b4 b 1,152,644.

c Subtract line b from line a . c 55,653,244.

d Amounts included on Part I, line 12, but not on line a: 1 Investment expenses not included on Part I, line 6b d1

20ther (specify): -------------------------------d2 ---------------------------------------

Add lines dl and d2 d

e Total revenue (Part I, line 12) Add lines c and d ... e 55,653,244. I Part IV-B I Reconciliation of Exoenses oer Audited Financial Statements with Exoenses oer Return

a Total expenses and losses per audited financial statements a 19,823,765.

b Amounts included on line a but not on Part I, line 17. 1 Donated services and use of fac1l1t1es b1

2Pnor year adJustments reported on Part I, line 20 b2

3Losses reported on Part I, line 20 b3

40ther (specify): Grant_rescinded after ______________ audit_ completed ___________________________ b4 15,000. -

Add Imes bl through b4 b 15,000. c Subtract line b from line a c 19,808,765. d Amounts included on Part I, line 17, but not on line a:

1 Investment expenses not included on Part I, line 6b dl

20ther (specify): -------------------------------d2 --------------------------------------- -

Add Imes dl and d2 d

e Total expenses (Part I, line 17). Add Imes c and d ... e 19,808,765.

(List each person who was an officer, director, trustee, I Part V-A I Current Officers, Directors, Trustees, and Key Employees or key employee at any time during the year even 1f they were not compensated.) (See the mstruct,ons)

(B) Title and average hours (C) Compensation (D) Contributions to (E) Expense

(A) Name and address per week devoted (if not paid, employee benefit account and other to pos1t1on enter -0-) plans and deferred allowances

compensation plans

James_S Wachs -----------c/o the Organization ______

President 2.5 0. 0. 0. Bruce H Jacobs ___________

c/o the Organization ______

Vice Pres. 2.5 0. 0. 0. Whitney L Ball ___________

c/o the Organization ______ Sec. /Treas. 20 0. 0. 0.

ChristQPher DeMuth ________ c/o the Organization ______

Board Member 2.5 0. 0. 0. Steven Hayward ___________

c/o the Organization ______

Board Member 2.5 0. 0. 0.

See List of Officers, Etc Statement _____

----------------------BAA TEEA0105 01118/07 Form 990 (2006)

Form 990 (2006) Donors Caoital Fund, Inc 54-1934032 Page 6

I Part V-A I Current Officers. Directors. Trustees and Kev Emolovees (continued) Yes

75 a Enter the total number of officers, directors, and trustees permitted to vote on organization business as board meetings ..... 9 -----------b Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees

listed 1n Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or 11-8, related to each other through family or business relat1onsh1ps? If 'Yes,' attach a statement that 1dent1f1es the 1nd1v1duals and explains the relat1onsh1p(s) 75b

c Do any officers, directors, trustees, or key employees listed in form 990, Part V-A, or highest compensated employees listed 1n Schedule A, Part I, or highest compensated professional and other independent contractors listed 1n Schedule A, Part II-A or 11-8, receive compensation from any other organizations, whether tax exempt or taxable, that are related - - -

to the organization? See the instructions for the def1nit1on of 'related organization' 75c x If 'Yes,' attach a statement that includes the information described in the instructions - - -

d Does the organization have a written conflict of interest ool1cv' 75d x IPart V-B I Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other

Benefits (If any former officer, director, trustee, or key employee received compensation or other benefits (described below) during the year, fist that person below and enter the amount of compensation or other benefits 1n the appropriate column See the instructions.)

(C) Compensation (D) Contributions to (E) Expense

No

-

x

I

I

(A) Name and address (B) Loans and (1f not paid, employee benefit account and other Advances enter -0-) plans and deferred allowances

compensation plans

NONE --------------------------------------------------

--------------------------------------------------

--------------------------------------------------

--------------------------------------------------

--------------------------------------------------

--------------------------------------------------I Part VI I Other Information (See the instructions.) Yes No

76 Did the organization make a change in its act1v1t1es or methods of conducting activ1t1es? ----- - -

· 1 If 'Yes,' attach a detailed statement of each change 76 x 77 Were any changes made in the organizing or governing documents but not reported to the IRS' 77 x

If 'Yes,' attach a conformed copy of the changes. --- -- - - --

78a Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return' 78a x -1

b If 'Yes,' has 1t filed a tax return on Form 990-T for this year' 78b x 79 Was there a l1qu1dat1on, d1ssolut1on, termination, or substantial contraction during the - ~-

I year' If 'Yes,' attach a statement 79 x SO a Is the organization related (other than by assoc1at1on with a statewide or nat1onw1de organization) through common ----- -- -

I membership, governing bodies, trustees, officers, etc, to any other exempt or nonexempt organization? SO a x b If 'Yes,' enter the name of the organization ~ Donors Trust, Inc. ------------------~-------o -----

and check whether 1t 1s X exempt or nonexempt.

81 a Enter direct and indirect political expenditures. (See line 81 instructions) I 81 al - -

b Did the or2anizat1on file Form 1120-POL for this lear? 81b x I BAA Form 990 (2006)

TEEA0106 01118/07

Form 990 (2006) Donors Caoi tal Fund, Inc 54-1934032 Page7 I Part VI I Other lnfonnation (continued)

82 a Did the organization receive donated services or the use of materials, equipment, or fac1l1ties at no charge or at substantially less than fair rental value'

b If 'Yes,' you may indicate the value of these items here Do not include this amount as revenue in Part I or as an expense in Part II (See instructions in Part Ill)

83a Did the organization comply with the public inspection requirements for returns and exemption applications'

b Did the organization comply with the disclosure requirements relating to qu,d pro quo contributions?

84a Did the organization solicit any contributions or gifts that were not tax deductible'

b If 'Yes,' did the orciarnzat1on include with every solic1tat1on an express statement that such contributions or gifts were not tax deductible? . . .

85 501(c)(4), (5), or (6) organizations. a Were substantially all dues nondeductible by members'

b Did the organization make only in-house lobbying expenditures of $2,000 or less'

If 'Yes' was answered to either 85a or 85b, do not complete 85c through 85h below unless the organization received a waiver for proxy tax owed for the prior year.

NIA c Dues, assessments, and s1m1lar amounts from members 1--8S_c1---------~---1

NIA d Section 162(e) lobbying and political expenditures 1--SS_d+-------......::..:..:....:-"I

NIA e Aggregate nondeductible amount of section 6033(e)(l)(A) dues notices 1--SS_e+--------~--1

NIA f Taxable amount of lobbying and pol1t1cal expenditures (line 85d less 85e) ,__85_f '-------......::..:.:...:-"I g Does the organization elect to pay the section 6033(e) tax on the amount on line 85f?

h If section 6033(eX1XA) dues notices were sen~ does the orgamzat1on agree to add the amount on line 851 to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?

86 501(c)(7) organizations Enter: a lrnt1at1on fees and capital contributions included on

NIA line 12 1--86_a+-------......::..:..:....:-"I NIA b Gross receipts, included on line 12, for public use of club fac11it1es 1--86_b1---------~---1 NIA 87 501(c)(12) organizations. Enter a Gross income from members or shareholders i--8_7_a-t---------=..;.~

b Gross income from other sources. (Do not net amounts due or paid to other sources NIA against amounts due or received from them ) ,__8_7_b"--------=..;.~

88 a At any time during the year, did the organization own a 50% or greater interest 1n a taxable corporation or partnership, or an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If 'Yes,' complete Part IX

Yes No

82a x

83a x 83b NI.;

84a x

84b

85a NI\

85b NI \

--

85a NI.;

85h NI\

88a X

b At any time during the year, did the orgarnzat1on, directly or indirectly, own a controlled entity within the meaning of section 512(b)(l3)' If 'Yes,' complete Part XI • 88b X

89a 501(c)(3) organizations. Enter: Amount of tax imposed on the organization during the year under: section 4911 .... _ _ _ _ _ _ _ _ _ _ _ , section 4912 .... , section 4955 .... __________ _

b 501(c)(3) and 501(c)(4) organizations Did the organization engage in any section 4958 excess benefit transaction during the year or did 1t become aware of an excess benefit transaction from a prior year' If 'Yes,' attach a statement explaining each transaction

c Enter: Amount of tax imposed on the organization managers or d1squal1f1ed persons during the year under sections 4912, 4955, and 4958 .

d Enter Amount of tax on line 89c, above, reimbursed by the organization

e All organizations. At any time during the tax year, was the organization a party to a proh1b1ted tax shelter transaction?

f A// organizations. Did the organization acquire a direct or indirect interest in any applicable insurance contract'

g For supporting organizations and sponsoring organizations maintaining donor advised funds Did the supporting orgarnzat1on, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year'

0. 0.

- -

89b x

-

89e x 89f x

- -

89g x 90a List the states with which a copy of this return 1s filed .... CT, FL, IL, NY, TX, VA, WA __________________ _

b Number of employees employed in the pay period that includes March 12, 2006 (See instructions ) I 9obl o

91 a The books are in care of .... the Organization _ _ _ _ _ _ _ _ _ _ Telephone number .... (703 )_535-3563 _____ _ Located at .... See _page 1 __________________________________ _ ZIP+ 4 .... 22313 ------------

b At any time during the calendar year, did the organization have an interest in or a signature or other authority over a Yes No

f1nanc1al account 1n a foreign country (such as a bank account, securities account, or other f1nanc1al account)? 91b x If 'Yes,' enter the name of the foreign country • Bermuda _____________________________

See the instructions for exceptions and filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.

BAA Form 990 (2006)

TEEA0107 01/18/07

----------- - -- ---

Form 990 2006 Donors Ca ital Fund, Inc 54-1934032 Page 8

Part VI Other Information (continued) Yes No

c At any time during the calendar year, did the organization maintain an office outside of the United States' 91 c x If 'Yes,' enter the name of the foreign country ~

92 Section 4947(a)(I) nonexempt chantable trusts f1lmg Form 990 m lieu of Form 7047- Check here ~ D I I and enter the amount of tax-exempt interest received or accrued during the tax year ~ 92

I Part VII I Analvsis of lncome-Producina Activities (See the instructions.) Unrelated business income Excluded by section 512, 513, or 514

Note: Enter gross amounts unless (A) (B) (C) (E)

(D) Related or exempt otherwise md1cated. Business code Amount Exclusion code Amount function income

93 Program service revenue

a

b

c d e f Med1care/Med1ca1d payments

g Fees & contracts from government agencies

94 Membership dues and assessments

95 Interest on savings & temporary cash invmnts 14 548,600. 96 D1v1dends & interest from securities 14 875, 361. 97 Net rental income or (loss) from real estate:

a debt-financed property

b not debt-financed property

98 Net rental income or (loss) from pers prop

99 Other investment income 900000 182,836. 14 1,598,152.

100 Gain or (loss) from sales of assets other than inventory 18 309,811.

101 Net income or (loss) from special events

102 Gross profit or (loss) from sales of inventory

103 Other revenue: a b Funds from secs lit. settlement 01 264. c d e

104 Subtotal (add columns (B), (0), and (E)) 182,836. 3,332,188. 105 Total (add line 104, columns (8), (D), and (E)) ~ 3,515,024.

N L 105 I I 1 P rt I h Id I th ote: me ous me e, a , SOU eaua e amoun on me '

a 12 P rt I I Part VIII Relationship of Activities to the Accomplishment of Exempt Purposes (See the instructions.)

Line No. Explain how each act1v1ty for which income 1s reported 1n column (E) of Part VII contributed importantly to the accomplishment ... of the organization's exempt purposes (other than by providing funds for such purposes) .

N/A

I Part IX Information Reaardina Taxable Subsidiaries and Disreaarded Entities (See the instructions.) (A) (B) (C) (D) (E)

Name, address, and EIN of corporation, Percentage of Nature of act1v1t1es Total End-of-year partnership, or disregarded entity ownership interest income assets

DCF LLC 100.0000 % Investment in land 0. 855,000. the Oraanization's address % uses the Organization's EIN %

%

I PartX Information Reaardina Transfers Associated with Personal Benefit Contracts (See the instructions. a Did the orgarnzat1on, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? ~Yes [ No

b Did the organization, during the year, pay premiums, directly or 1nd1rectly, on a personal benefit contract' Yes No

Note: If 'Yes' to (b}, file Form 8870 and Form 4720 (see mstruct,ons).

BAA TEEAOl 08 04/04/07 Farm 990 (2006)

Form 990 2006 Donors Ca ital Fund, Inc 54-1934032 Pa e 9 Part XI lnfonnation Regarding Transfers To and From Controlled Entities. Complete only ,t the

organization ,s a control/mg organization as defined in section 512(b)(13). Yes No

106 Did the reporting organization make any transfers to a controlled entity as defined in section 512(b)(13) of the Code' If 'Yes,' com lete the schedule below for each controlled ent1 x

a

b

c

(A) Name, address, of each

controlled entity

Totals

(B) Employer Identification

Number

(C) Descnption of

transfer (D)

Amount of transfer

Yes No

107 Did the reporting organization receive any transfers from a controlled entity as defined in section 512(b)(l3) of the Code' If 'Yes,' com lete the schedule below for each controlled enti x

a

b

c

(A) Name, address, of each

controlled entity

Totals

(B) Employer Identification

Number

(C) Description of

transfer (D)

Amount of transfer

Yes No

108 Did the organization have a binding written contract 1n effect on August 17, 2006, covering the interest, rents, royalties, and annu1t1es described in ues ion 107 above? . NI

Please ~

Sign Here ~

Paid Preparer's ~

Pre-signature

carer's Firm's name (or

se yours rt self· emJ,'oyed).

Only ad ress. and ZIP+4

BAA

LLC

VA 22201-2514

TEEAO 110 01119/07

Date

Check ,t self· employed

EIN ._

Phone no .,

Form 990 (2006)

SCHEDULE A (Form 990 or 990-EZ)

Department of the Treasury Internal Revenue Service

Organization Exempt Under Section 501(c)(3)

(Except Private Foundation) and Section SOl(e), SOl(f), SOl(k), 501 (n), or 4947(a)(1) Nonexempt Charitable Trust

Supplementary Information - (See separate instructions.)

... MUST be completed by the above organizations and attached to their Form 990 or 990-EZ.

OMB No 1545-0047

2006

Name of the organization Employer identification number

Donors Ca ital Fund, Inc 54-1934032 Part I Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees

(See 1nstruct1ons. List each one. If there are none, enter 'None.') (a) Name and address of each (b) Title and average (c) Compensation (d) Contnbut1ons (e) Expense

employee paid more hours per week to employee benefit account and other than $50,000 devoted to pos1t1on plans and deferred allowances compensation

NONE ______________________

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Total number of other employees paid over $50,000 .... None I Part 11 - A I Compensation of the Five Highest Paid Independent Contractors for Professional Services

(See 1nstruct1ons. List each one (whether 1nd1v1duals or firms). If there are none, enter 'None.')

(a) Name and address of each independent contractor paid more than $50,000 (b) Type of service (c) Compensation

NONE _____________________________________

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Total number of others receiving over $50,000 for orofess1onal services ... 1 None I Part II - B I Compensation of the Five Highest Paid Independent Contractors for Other Services

(List each contractor who performed services other than professional services, whether 1nd1v1duals or firms. If there are none, enter 'None.' See instructions.)

(a) Name and address of each independent contractor paid more than $50,000 (b) Type of service (c) Compensation

Donors Trust,_ Inc . ___________________________ 109 N Henrv St, Alexandria, VA 22314 Administration 501,883.

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Total number of other contractors rece1v1ng ~I over $50,000 for other services None BAA For Paperwork Reduction Act Notice, see the Instructions for Form 990 and Form 990-EZ. Schedule A (Form 990 or 990-EZ) 2006

TEEA0401 01119/07

Schedule A (Form 990 or 990-EZ) 2006 Donors Caoi tal Fund, Inc 54-1934032

I Part Ill I Statements About Activities (See instructions.)

1 During the year, has the organization attempted to influence national, state, or local leg1slat1on, including any attempt to influence public opinion on a leg1slat1ve matter or referendum? If 'Yes,' enter the total expenses paid or incurred in connection with the lobbying act1v1t1es ... $ _________________ _ (Must equal amounts on line 38, Part VI-A, or line i of Part Vl-8.)

Organizations that made an election under section 501 (h) by filing Form 5768 must complete Part VI-A Other organizations checking 'Yes' must complete Part Vl-8 AND attach a statement giving a detailed description of the lobbying act1v1t1es

2 During the year, has the organization, either directly or indirectly, engaged in any of the following acts with any substantial contributors, trustees, directors, officers, creators, key employees, or members of their families, or with any taxable organization with which any such person 1s affiliated as an officer, director, trustee, maiority owner, or principal benef1c1ary? (If the answer to any question is 'Yes,' attach a detailed statement exp/ammg the transactions.)

a Sale, exchange, or leasing of property?

b Lending of money or other extension of credit?

c Furnishing of goods, services, or fac1l1t1es?

d Payment of compensation (or payment or reimbursement of expenses 1f more than $1,000)?

e Transfer of any part of its income or assets?

3a Did the organization make grants for scholarships, fellowships, student loans, etc? (If 'Yes,' attach an explanation of how the organization determines that rec1p1ents qualify to receive payments )

b Did the organization have a section 403(b) annuity plan for its employees?

c Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures? If 'Yes,' attach a detailed statement

d Did the organization provide credit counseling, debt management, credit repair, or debt negot1at1on services?

4a Did the organization ma1nta1n any donor advised funds? If 'Yes,' complete lines 4b through 4g If 'No,' complete lines 4f and 4g

b Did the organization make any taxable d1stribut1ons under section 4966?

c Did the organization make a d1stribut1on to a donor, donor advisor, or related person?

d Enter the total number of donor advised funds owned at the end of the tax year ...

Page2

Yes No

x

-

2a x

2b x

2c x

2d x

2e x

3a x

3b x

3c x

3d x

4a x

4b x

4c x

11

e Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year ... __ ""'8""'3""",-'9'-9'-'-3_.,-'3'-5;c..3c.....c....

f Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included on line 4d) where donors have the right to provide advice on the d1stribut1on or investment of amounts in such funds or accounts ... 0 ---------

g Enter the aggregate value of assets held in all funds or accounts included on line 4f at the end of the tax year ... ________ O_.

BAA TEEA0402 04/04/07 Schedule A (Form 990 or Form 990-EZ) 2006

Schedule A (Form 990 or 990-EZ) 2006 Donors Capital Fund, Inc 54-1934032 Page 3

I Part IV l Reason for Non-Private Foundation Status (See instructions.)

I certify that the organization 1s not a private foundation because 1t 1s: (Please check only ONE applicable box )

5 0 A church, convention of churches, or assoc1at1on of churches Section 170(b)(l )(A)(1).

6 0 A school. Section 170(b)(l)(A)(11). (Also complete Part V.)

7 0 A hospital or a cooperative hospital service organization Section 170(b)(l )(A)(111).

8 0 A federal, state, or local government or governmental unit. Section 170(b)(l)(A)(v)

9 0 A medical research organization operated in con1unct1on with a hospital Section 170(b)(l )(A)(111). Enter the hospital's name, city, and state•

10 0 An organization operated for the benefit of a college or university owned or operated by a governmental unit Section 170(b)(l )(A)(1v) (Also complete the Support Schedule in Part IV-A.)

11 a O An organization that normally receives a substantial part of its support from a governmental unit or from the general public Section 170(b)(l )(A)(v1). (Also complete the Support Schedule in Part IV -A.)

11 b O A community trust Section 170(b)(l)(A)(v1). (Also complete the Support Schedule in Part IV-A)

12 0 An organization that normally receives: (1) more than 33-1/3% of its support from contributions, membership fees, and gross receipts from act1v1t1es related to its charitable, etc, functions - subJect to certain exceptions, and (2) no more than 33-1/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Also complete the Support Schedule in Part IV-A)

13 ~ An organization that 1s not controlled by any d1squahf1ed persons (other than foundation managers) and otherwise meets the requirements of section 509(a)(3) Check the box that describes the type of supporting organization: •

~ Type I O Type II O Type Ill-Functionally Integrated O Type Ill-Other Provide the following information about the supported organizations. (See instructions.)

(a) (b) (c) (d) (e) Name(s) of supported Employer identification Type of Is the supported Amount of

organization(s) number (EIN) organization (described organization listed in support in lines 5 through 12 the supporting

above or IRC section) orgamza~ion's governing

documents?

Yes No

See Grantee Schedule, Attached x

Total ....

14 0 An organization organized and operated to test for public safety. Section 509(a)(4) (See 1nstruct1ons)

BAA Schedule A (Form 990 or 990-EZ) 2006

TEEA0407 01/22107

ScheduleA Form990or990- 2006 Donors Ca ital Fund, Inc 54-1934032 Page4

Part IV-A Support Schedule (Complete only 1f you checked a box on hne 10, 11, or 12.) Use cash method of accounting. N/A Note: You may use the worksheet m the instructions for convertma from the accrual to the cash method of accountma

Calendar year (or fiscal year beginning in) .... 2baJ5 2bi 2bcJ3 2b<IJ2

(e) Total

15 Gifts, grants, and contributions received. (Do not include unusual grants See hne 28 )

16 Membership fees received

17 Gross receipts from adm1ss1ons, merchandise sold or services performed, or furnishing of fac1ht1es in any act1v1ty that 1s related to the organizatJon's charitable, etc, ouroose ..

18 Gross income from interest d1v1dends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organ-1zat1on after June 30, 1975

19 Net income from unrelated business act1v1ties not included in line 18

20 Tax revenues levied for the organization's benefit and either paid to 1t or expended on its behalf

21 The value of services or fac1ht1es furnished to the organization by a governmental unit without charge Do not include the value of services or fac1ht1es generally furnished to the oubl1c without charae

22 Other income Attach a schedule Do not include gain or (loss) from sale of capital assets

23 Total of Imes 15 throuoh 22

24 Line 23 minus line 17

25 Enter 1 % of hne 23

26 Organizations described on lines 10 or 11: a Enter 2% of amount m column (e), line 24 .,. 26a

b Prepare a hst for your records to show the name of and amount contributed by each person (other than a governmental unit or publicly supported organization) whose total gifts for 2002 through 2005 exceeded the amount shown in line 26a Do not file this list with your ---- --- - --- -- --return. Enter the total of all these excess amounts .... 26b

c Total support for section 509(a)(l) test: Enter line 24, column (e) .... 26c

d Add Amounts from column (e) for Imes: 18 19 -- --- -- --22 26b .... 26d

e Public support (hne 26c minus hne 26d total) .... 26e

f Public suooort percentaae Cline 26e (numerator) divided bv line 26c (denominator)) .... 26f

27 Organizations described on line 12: a For amounts included in lines 15, 16, and 17 that were received from a 'd1squahf1ed person,' prepare a ltst for your records to show the

name of, and total amounts received m each year from, each 'd1squal1f1ed person.' Do not file this list with your return. Enter the sum of such amounts for each year: (2005) ____________ (2004) ____________ (2003) ____________ (2002) ____________ _

bFor any amount included 1n line 17 that was received from each person (other than 'd1squahf1ed persons'), prepare a list for your records to show the name of, and amount received for each year, that was more than the larQer of (1) the amount on line 25 for the year or (2) $5,000. (Include m the hst organizations described m Imes 5 through 11 b, as well as 1nd1v1duals) Do not file this list with your return. After computing the difference between the amount received and the larger amount described m (1) or (2), enter the sum of these differences (the excess amounts) for each year (2005) _ _ _ _ _ _ _ _ _ _ _ _ (2004) ____________ (2003) ____________ (2002) ____________ _

c Add· Amounts from column (e) for Imes: 15 16

17 20 21

d Add. Line 27a total and hne 27b total

.... 27c

.,. 27d

%

e Public support (line 27c total minus line 27d total) ... i--.:::2.:..7.=:.e+--------f Total support for section 509(a)(2) test: Enter amount from line 23, column (e) ... .__2_7_f _.__ ______ __,

g Public support percentage (line 27e (numerator) divided by line 27f (denominator)) .,. 27 % h Investment income ercenta e ine 18, column e numerator divided b line 27f denominator .,. 27h %

28 Unusual Grants: For an organization described m hne 10, 11, or 12 that received any unusual grants during 2002 through 2005, prepare a list for your records to show, for each year, the name of the contributor, the date and amount of the grant, and a brief description of the nature of the grant Do not file this list with your return. Do not include these grants m hne 15.

BAA TEEA0403 01119101 Schedule A (Form 990 or 990-EZ) 2006

Schedule A Form 990 or 990· 2006 Donors Ca ital Fund, Inc 54-1934032 Page 5 Part V Private School Questionnaire (See instructions.) ~--~ (To be completed ONLY by schools that checked the box on line 6 in Part IV) N I A

Yes No

29 Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws, other governing instrument, or in a resolution of its governing body' 29

30 Does the organization include a statement of its racially nondiscriminatory policy toward students 1n all its brochures, catalogues, and other written communications with the public dealing with student adm1ss1ons, programs, and scholarships' 30

31 Has the organization publicized its racial~ nondiscriminatory policy through newspafier or broadcast media during the period of solic1tat1on for students, or uring the reg1strat1on period 1f 1t has no so 1c1tat1on program, in a way that makes the policy known to all parts of the general community 1t serves? 31 If 'Yes,' please describe, 1f 'No,' please explain. (If you need more space, attach a separate statement )

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32 Does the organization maintain the following: -

a Records indicating the racial compos1t1on of the student body, faculty, and admin1strat1ve staff' 32a

b Records documenting that scholarships and other f1nanc1al assistance are awarded on a racially nondiscriminatory basis? 32b

c Copies of all catalogues, brochures, announcements, and other written communications to the public dealing with student adm1ss1ons, programs, and scholarships? 32c

d Copies of all material used by the organization or on its behalf to solicit contributions? 32d

If you answered 'No' to any of the above, please explain. (If you need more space, attach a separate statement.)

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33 Does the organization discriminate by race in any way with respect to.

-

a Students' rights or privileges? 33a

b Adm1ss1ons pol1c1es? 33b

c Employment of faculty or admin1strat1ve staff? 33c

d Scholarships or other financial assistance? 33d

e Educational policies? 33e

f Use of fac11it1es? 33f

g Athletic programs? 33a

h Other extracurricular act1v1t1es? 33h

If you answered 'Yes' to any of the above, please explain. (If you need more space, attach a separate statement)

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34a Does the organization receive any financial aid or assistance from a governmental agency? 34a

b Has the organization's right to such aid ever been revoked or suspended? 34b If you answered 'Yes' to either 34a or b, please explain using an attached statement

35 Does the organization certify that 1t has complied with the aEgi1cable requirements of sections 4 01 through 4.05 of Rev Proc 75-50, 1975·2 CB. 7, covering racial

35 nond1scrim1nat1on? If 'No,' attach an exelanat1on.

BAA TEEA0404 01 119/07 Schedule A (Form 990 or 990-EZ) 2006

Schedule A Form 990 or 990-EZ) 2006 Donors Ca ital Fund, Inc

Part VI-A Lobbying Expenditures by Electing Public Charities (See instructions) (To be completed ONLY by an eligible organization that filed Form 5768)

54-1934032 Page 6

N/A Check • a I I 1t the orcianizat1on belongs to an affiliated ciroup Check• b I I 1t vou checked 'a' and 'limited control' orov1s1ons aooly

Limits on Lobbying Expenditures (a) (b) Affiliated group To be completed

(The term 'expenditures' means amounts paid or incurred.) totals for all electing

organizations

36 Total lobbying expenditures to influence public opinion (grassroots lobbying)

37 Total lobbying expenditures to influence a leg1slat1ve body (direct lobbying)

38 Total lobbying expenditures (add lines 36 and 37) 39 Other exempt purpose expenditures

40 Total exempt purpose expenditures (add lines 38 and 39) 41 Lobbying nontaxable amount. Enter the amount from the following table -

If the amount on line 40 is -

Not over $500,000

36 37 38 39 40

Over $500,000 but not over $1,000,000 Over $1,000,000 but not over $1,500,000 Over $1,500,000 but not over $17,000,000 Over $17,000,000

The lobbying nontaxable amount is -

20% of the amount on line 40 -t $100,000 plus 15% of the excess over $500,000-- ______________ _ $175,000 plus 10% of the excess over $1,000,000 1--4_1-+----------i-------­$225,000 plus 5% of the excess over $1,500,000

$1,000,000 _ _ ------- -- ------- -- __ _ 42 Grassroots nontaxable amount (enter 25% of line 41) 43 Subtract line 42 from line 36 Enter -0- 1f line 42 1s more than line 36 44 Subtract line 41 from line 38 Enter -0- 1f line 41 1s more than line 38

Caution: If there is an amount on either /me 43 or /me 44, vou must file Form 4720

42 43 44

4 -Year Averaging Period Under Section 501(h) (Some organizations that made a section 501 (h) election do not have to complete all of the five columns below

See the instructions for lines 45 through 50 )

Lobbying Expenditures During 4 -Year Averaging Period

Calendar year (a) (b) (c) (d) (or fiscal year 2006 2005 2004 2003 beginning in) •

45 Lobbying nontaxable amount

46 Lobbying ceiling amount (150% of line 45(e))

47 Total lobbying expenditures

48 Grassroots non-taxable amount

49 Grassroots celling amount (150% of line 48(e))

50 Grassroots lobbying expenditures

!Part VI-B I Lobbying Activity by Nonelectin Public Charities (For reporting only by organizations that ~d not complete Part VI-A) (See 1nstruct1ons)

During the year, did the organization attempt to influence national, state or local leg1slat1on, including any attempt to influence public opinion on a legislative matter or referendum, through the use of Yes No

a Volunteers x x

(e) Total

Amount

b Paid staff or management (Include compensation in expenses reported on lines c through h.) - ----

c Media advertisements x d Mailings to members, legislators, or the public x e Publ1cat1ons, or published or broadcast statements x f Grants to other organizations for lobbying purposes x g Direct contact with legislators, their staffs, government off1c1als, or a legislative body x h Rallies, demonstrations, seminars, conventions, speeches, lectures, or any other means x i Total lobbying expenditures (add lines c through h.)

If 'Yes' to any of the above, also attach a statement giving a detailed description of the lobbying act1v1t1es

BAA Schedule A (Form 990 or 990-EZ) 2006

TEEA0405 01 119/07

Schedule A Form 990 or 990-EZ) 2006 Donors Ca ital Fund, Inc 54-1934032 Pae 7

Part VII lnfonnation Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (See 1nstruct1ons)

51 Did the reporting organization directly or indirectly engage in any of the following with any other organization described in section 501 (c) of the Code (other than section 501 (c)(3) organizations) or in section 527, relating to political organizations?

a Transfers from the reporting organization to a noncharitable exempt organization of: Yes No

(i)Cash 51 a I x (ii)Other assets x

b Other transactions.

(i)Sales or exchanges of assets with a noncharitable exempt organization (ii)Purchases of assets from a noncharitable exempt organization

x x

(iii)Rental of fac11it1es, equipment, or other assets X

(iv)Re1mbursement arrangements X

(v)Loans or loan guarantees X

(vi)Performance of services or membership or fundra1smg solic1tat1ons x c Sharing of fac11it1es, equipment, mailing lists, other assets, or paid employees c x d If the answer to any of the above IS 'Yes,' com~lete the following schedule. Column (b) should alw~r show the fair market value of

the ~cods, other assets, or services given by t e reportm~ w~nizat1on If the organization receive less than fair market value 1n anv ransact1on or sharma arranaement, show in column d e value of the aooas, other assets, or services received:

(a) (b) (c) (d) Line no. Amount involved Name of noncharitable exempt organization Description of transfers, transactions, and sharing arrangements

52a Is the organization directly or 1nd1rectly affiliated with, or related to, one or more tax-exempt organizations described in section 501 (c) of the Code (other than section 501 (c)(3)) or in section 527' ... D Yes ~ No

b If 'Yes,' comolete the followma sc h edule:

(a) (b) (c) Name of organization Type of organization Description of relationship

BAA Schedule A (Form 990 or 990-EZ) 2006

TEEA0406 01119/07

Form 990 Line S(A) and 8(8)

Statement

Schedule of Gains and Losses from Sale of Assets Other than Inventory

~ Attach to return

2006

Name

Donors Capital Fund, Inc

Part I, Line 8, Column (A)

Public Securities

Descnpt1on

Publicl::t Traded Securities

Nonpublic Securities

Securities

Gross Sales Pnce

3,208,715. Cost Selhna Exoenses Basis

Employer ldent1f1cat1on Number 54-1934032

Basis

2,898,904.

2,898,904.

Descnpt1on Date Acquired and Method

Date Sold and to Whom

Gross Sales Pnce

Cost, other basis or FMV when donated (State which on top)

Total Securities 3, 208, 715. 2, 898, 904.

Gain or Loss from Sale of Securities 309, 811.

Part I, Line 8, Column (B) Other Assets

Date Acquired Date Sold Gross Cost, other basis or Description and Method and to Whom Sales Pnce FMV when donated

Cost ---------------------- De~rec1at1on

Basis ----------- --------- ---------Donation FMV Cost -----------

----------- De~rec1at1on Basis ----------- --------- ---------Donation FMV Cost -----------

----------- De~rec1at1on Basis ----------- --------- ---------Donation FMV Cost -----------

----------- De~rec1at1on Basis ----------- --------- ---------Donation FMV

Total Other Assets

Gain or (Loss) from Sale of Other Assets

TEEW0201 SCR 10/30/06

Form8868 (Rev December 2006)

Application for Extension of Time To File an Exempt Organization Return

~~~;n~~~~tr,!\~r~f;ry ~ File a separate appl1cat1on for each return

OMS No 1545-1709

• If you are f1hng for an Automatic 3-Month Extension, complete only Part I and check this box ~ ti] • If you are f1hng for an Additional (not automatic) 3-Month Extension, complete only Part II (on page 2 of this form)

Do not complete Part II unless you have already been granted an automatic 3-month extension on a previously filed Form 8868

I Part I I Automatic 3-Month Extension of Time. Only submit original (no copies needed).

Section 501 (c)(3) corporations required to file Form 990-T and requesting an automatic 6-month extension - check this box and complete Part I only ~ D All other corporations (mcludmg 1120-C filers). partnerships, REM/CS, and trusts must use Form 7004 to request an extension of time to ftle mcome tax returns.

Electronic Filing (e-.ile). Generally, you can electronically file Form 8868 1f you want a 3-month automatic extension of time to file one of the returns noted below (6 months for section 501(c)(3) corporations required to file Form 990-T) However, you cannot file Form 8868 electronically 1f (1) you want the add1t1onal (not automatic) 3-month extension or (2) you file Forms 990-BL, 6069, or 8870, group returns, or a composite or consolidated Form 990-T Instead, you must submit the fully completed and signed page 2 (Part II) of Form 8868 For more details on the electronic f1l1ng of this form, v1s1t www.trs govlef1/e and click on e-f1/e for Chant1es & Nonprofits

Name of Exempt Organization Employer identification number

Type or print File by the due date for filing your return See instructions

Donors Caoital Fund, Inc 54-1934032 Number, street, and room or suite number If a P O box, see ,nstruct,ons

P.O. Box 1305 C,ty, town or post office For a foreign address, see ,nstruct,ons state ZIP code

Alexandria Check type of return to be filed (file a separate appl1cat1on for each return)

X Form 990 Form 990-T (corporation)

Form 990-BL Form 990-T (section 401 (a) or 408(a) trust)

Form 990-EZ

Form 990-PF

Form 990-T (trust other than above)

Form 1041-A

Form 4720

Form 5227

Form 6069

Form 8870

• The books are in the care of~ the Organization _______________________ _

Telephone No~ (703)_535-3563______ FAX No.~-----------------• If the organization does not have an office or place of business in the United States, check this box

VA 22313

• If this 1s for a Group Return, enter the organization's four d1g1t Group Exemption Number (GEN) If this 1s for the whole group,

check this box ~ D . If 1t 1s for part of the group, check this box ~ D and attach a list with the names and EINs of all members

the extension will cover

1 I request an automatic 3-month (6 months for a section 501 (c)(3) corporation required to file Form 990-T) extension of time

until _!>..~g _1_? ___ . 20 _O]_ _. to file the exempt organization return for the organization named above The extension 1s for the organization's return for:

~ ~ calendar year 20 ..9 .§ _ or ~ D tax year beginning ________ • 20 , and ending ________ ,20

2 If this tax year 1s for less than 12 months, check reason D Initial return D Final return D Change 1n accounting period

3a If this application 1s for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any nonrefundable credits. See instructions 3a $

b If this application 1s for Form 990-PF or 990-T, enter any refundable credits and estimated tax payments made. Include any prior year overpayment allowed as a credit 3b $

c Balance Due. Subtract line 3b from line 3a Include your payment with this form, or, 1f required, deposit with FID coupon or, 1f required, by using EFTPS (Electronic Federal Tax Payment System) -See instructions 3c S

Caution. If you are going to make an electronic fund withdrawal with this Form 8868, see Form 8453-EO and Form 8879-EO for payment instructions.

0.

0.

0.

BAA For Privacy Act and Paperwork Reduction Act Notice, see instructions. Form 8868 (Rev 12-2006)

FIFZ0501 12/19/06

Cert 7007 0710 0001 4874 9726

Form 8868 Rev 12-2006 Donors Ca ital Fund Inc 54-1934032 Pa e2 • If you are filing for an Additional (not automatic) 3-Month Extension, complete only Part II and check this box •x

Note. Only complete Part II 1f you have already been granted an automatic 3-month extension on a previously filed Form 8868

• If you are f1l1nq for an Automatic 3-Month Extension, comDlete onlv Part I (on oaoe 1).

I Part II I Additional (not automatic) 3-Month Extension of Time. You must file ona1nal and one coov. Name of Exempt Organization

Type or Donors Caoital Fund, Inc print Number, street, and room or suite number If a P O box, see instructions

File by the extended due date for

P.O. Box 1305 f1hng the return See City, town or post office, state, and ZIP code For a foreign address. see instructions instructions

Alexandria VA 22313 Check type of return to be filed (File a separate application for each return):

X Form 990 Form 990-PF

Form 990-BL

Form 990-EZ

Form 990-T (section 401 (a) or 408(a) trust)

Form 990-T trust other than above

Form 1041-A

Form 4720

Form 5227

Employer identification number

54-1934032 For IRS use only

8 Form 6069

Form 8870

STOP! Do not complete Part II if you were not already granted an automatic 3-month extension on a previously filed Form 8868. • The books are 1n care of• the Organization _______________________ _

TelephoneNo • (703)_535-3563______ FAXNo •-----------------• If the organization does not have an office or place of business 1n the United States, check this box

• If this 1s for a Group Return, enter the organization's four d1g1t Group Exemption Number (GEN) If this 1s for the

whole group, check this box • D If 1t 1s for part of the group, check this box • D and attach a list with the names and EINs of all

members the extension 1s for 4 I request an add1t1onal 3-month extension of time until Nov 15 _ _ _ _ , 20 07.

5 For calendar year 2 0 0 6 , or other tax year beginning , 20 , and ending , 20 .

6 If this tax year 1s fo~l;s; than 12 months, check reason: - 0 ~1tlal r;t~r; 0 Final return - 0 Ch;nge-1~ ~count1~g -period

7 State in detail why you need the extension The Organization holds_an interest_in an investment ____ _

LLC that .9enerates UBTI and has not yet received a K-1, which is necessa}'.Y to complete accuratelY: f f 11 Part VII of the return and, there ore, resoect u .v reaues ts an additional extension of time to file.

Sa If this application 1s tor Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any Sa$ nonrefundable credits See instructions

b If this application 1s for Form 990-PF, 990-T, 4720, or 6069, enter any refundable credits and estimated tax payments made. Include any prior year overpayment allowed as a credit and any amount paid previously -- --with Form 8868 Sb$

c Balance Due. Subtract line Sb from line Sa. Include your payment with this form, or, 1f required, deposit with FTD coupon or, 1f required, by using EFTPS (Electronic Federal Tax Pavment System) See instrs Sci$

Signature and Verification Under penalties of perJury, I declare that I have examined this form, including accompanying schedules and statements. and to the best of my knowledge and belief, 1t 1s true, correct. and complete, and that I am authonzed to prepare this form

Signature • Title • Attorney Date • 08/09/07

B D

Fl Director

Notice to Applicant. (To be Completed by the IRS) We have approved this appl1cat1on Please attach this form to the organization's return. We have not approved this application However, we have granted a 10-day grace period from the later of the date shown below or the due date of the organization's return (including any prior extensions). This grace period 1s considered to be a valid extension of time tor elections otherwise required to be made on a timely filed return. Please attach this form to the organization's return We have not approved this application After considering the reasons stated in item 7, we cannot grant your request for an extension of time to file We are not granting a 10-day grace period

We cannot consider this appl1cat1on because 1t was filed after the extended due date of the return for which an extension was requested Other

By Date

Alternate Mailing Address. Enter the address 1f you want the copy of this application for an add1t1onal 3-month extension returned to an address different than the one entered above.

Type or print

Name

Charitable Entitv Administration LLC Number and street (include suite, room, or apartment number) or a P.O. box number

PO Box 17367 City or town, province or state, and country (including postal or ZIP code)

Arlington VA 22216

0.

0.

0.

BAA FIFZ0502 12119/06 Form 8868 (Rev 12-2006)

Donors Capital Fund, Inc

Form 990, Page 5, Part V-A List of Officers, Etc. Statement

(A)

54-1934032

(B) (C) Name and address Title and Compensation

average hours per (if not paid, week devoted enter-0-)

to pos1t1on

Kris Alan Mauren c/o the Organization Board Member

2.5 William H Mellor c/o the Organization Board Member

2.5 Stephen Moore c/o the Organization Board Member

2.5 John Von Kannan c/o the Organization Board Member

2.5

Form 990, Page 4, Part IV, Line 54a Investments - Publicly-Traded Securities Statement

Line 54a - Investments - Publicly-Traded Securities:

Investment in publicly traded securities

Total

Form 990, Page 4, Part IV, Line 56 Investments - Other Statement

Line 56 - Investments - Other:

Investment in Caxton Select LLC Investment in DCF LLC

Total

Explanation Statement

0.

0.

0.

0.

(D) (E) Contributions Expense to employee account benefit plans and other and deferred allowances compensation

0. 0.

0. 0.

0. o.

0. 0.

Beginning End of of Year Year

12,693,603. 15,873,749.

12,693,603. 15,873,749.

Beginning of Year

16,539,845. o.

16,539,845.

End of Year

16,085,833. 855,000.

16,940,833.

Form/Line: Form 990, Part V-A _l_i_n_e_7_5_c ______ _ Explanation of: Receipt of Compensation from Other Companies

Whitney L. Ball (109 N Henry St, Alexandria, VA 22314) received compensation of $115,650, contributions to employee benefit plans of $16,818, and expense and other allowances of $0, from Donors Trust, Inc., EIN 52-2166327. Donors Trust, Inc. is an exempt organization supported by the Organization.

Additional Information For Tax Return

Donors Capital Fund, Inc 54-1934032

Form990_p]:Accomplishments-a _______________ _

FORM 990, PART III a - STATEMENT OF PRIMARY EXEMPT PURPOSE,

Support of organizations described in Internal Revenue Code sections 509(a)(l) and 509(a)(2), 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 culture; and which encourage philanthropy and individual giving and responsibility as an answer to society's needs, as opposed to governmental involvement.

Form990__p_i>:Line75dN/A _________________ _

Adopted during the 2007 tax year.