Form

990

Return of Organization Exempt From Income Tax
Under section 501 (c), 527, or 4947(aXl) of the Internal Revenue Code (except black lung benefit trust or private foundation )

OMB No 1545.0047

2006 Open to Public Inspection

Treasury IIntenalRevenue Service

^ The organization may have to use a copy of this return to satisfy state reporting requ irements. , 2006, and endin g
C Please use IRSlabel or priot or type.
i ic spec f mstru dons.

A
B

For the 2006 calendar year, or tax year be g innin g
Check if applicable Address change Name change Initial return Final return Amended return Name of organization

D Employer Identification Number

Donors Cap ital Fund , P .O. Box 1305

Inc
Room/ suite E

54-1934032
Telephone number

Number and street ( or P 0 box if mail is not delivered to street addr )

(703)
State ZIP code + 4 F Accou r^U n 9 method :

535-3563
Cash X Accrual

Ci ty , town or coun try

Alexandria
charitable trusts must attach a completed Schedule A

VA

22313

other (spec ify)
K Yes No

Application pending
4

• Section 501 (c)(3) organizations and 4947(aX1) nonexempt

H and I are not applicable to section 527 organizations H (a) Is this a group return for affiliates' H (b) If 'Yes,' enter number of affiliates DO. H (C) Are all affiliates included' (If 'No,' attach a list See instructions ) K Yes K No

(Form 990 or 990- EZ).
_ Web site: _ 01 N/A
Organization type (c h ec k on l y one
501(c)

Q

J

C o K co 0 QV

3 '

(insert no)

El 4947 (a)( 1 ) or

El 527

If the organization is not a 509(a)(3) supporting organization and its Check here' gross receipts are normally not more than $25,000. A return is not required, but if the organization chooses to file a return, be sure to file a complete return.

H (d) Is this a separate return filed by an organizat i on covered by a group ruling?

n n Yes X No

I M

L Gross recei pts: Add lines 6b, 8b, 9b, and l Ob to line 12 ' 58 , 5 52 , 148. Part I Revpnue _ EYnences - and Chanees in Net Assets or Fund Balances (See the instructinns ) 1 Contributions, gifts, grants, and similar amounts received*

o. Grou p Exem p tion Number Check ^ if the organization is not required to attach Schedule B (Form 990, 990-EZ, or 990-PF)

a Contributions to donor advised funds

.

. .

1a
1b 1c 1d

52,138,220.

b Direct public support (not included on line 1a) c Indirect public support (not included on line 1a) d Government contributions (grants) (not included on line 1a)
e la^throughlldjs(cash

$

51, 283, 220. noncash $

855, 000 . )

1e
2 3 4 5

52, 138 220.

2 3 4 5

Program service revenue including government fees and contracts (from Part VII, line 93) Membership dues and assessments Interest on savings and temporary cash investments Dividends and interest from securities

548,600. 875,361.

6a Gross rents
b Less: rental expenses c Net rental income or (loss). Subtract line 6b from line 6a

6a
6b 6c

R
E v N E

7

Other investment income (describe

^
(A) Securities 3,208 , 715. 2,898,904. 309, 811. 8a 8b 8c K ^ (B) Other

7

1, 780, 988.

8 a G ross amoun t fr o m sa l es o f a ssets o ther

than inventory . b Less: cost or other basis and sales expenses . See L-8 Stmt c Gain or (loss) (attach schedule)

d Net gain or (loss). Combine line 8c, columns (A) and (B)
9 a r b c 10a j b e Special events and activities (attach schedule) If any amount is from gaming , check here of contributions $ Gross revenue (not including I 9al reported on line 1b) . 9b are g expenses Less. dlr c exp^ ents. ubtract line 9b from line 9a Net Inco a or allowances 10a Gross sa eFS f Is 10b Less co t°B goa Gross profs or oss) fro(attar chedule) Subtract line lOb from Ime 10a

8d

309, 811.

9c

n c E

10 e

11
E x P E N

Other re enue

3) -

11
12 13 14 15 16 17 18 19

264 .
55,653,244. 19,167,819. 612,541. 28,405. 19,808 , 765. 35, 844,479. 47, 047 , 205.

E S

12 13 14 15 16

17 A 18 N S 19
T T

5, 6c, 7, 8d, 9c, 10c, and 11 Total re Program services (from line 44, column (B)) Management and general (from line 44, column (C)) Fundraising (from line 44, column (D)) Payments to affiliates (attach schedule) Total ex penses. Add lines 16 and 44, column (A) Excess or (deficit) for the year. Subtract line 17 from line 12 Net assets or fund balances at beginning of year (from line 73, column (A))

20

Other changes in net assets or fund balances (attach explanation)

20
21 TEEA0101 01/18/07

1, 137,644.
84 , 029, 328. Form 990 (2006)

s 21 Net as sets o r fund balances at end of year Combine lines 18, 19, and 20 BAA For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions .

9-0

Form 990 (2006) Donors Capital Fund, Inc 54-1934032 Statement of Functional Ex penses All organizations must complete column (A). Columns (B), (C), and (D) are Part II required for section 501(c)(3) and (4) organizations and section 4947(a)(1) nonexempt charitable trusts bu options for others. Do not include amounts reported on line 6b, 8b , 9b, 10b, or 16 of Part 1. 22a Grants paid from donor advised funds (attach sch) $ 19,167,819. (cash non-cash $ 0. If this amount includes foreign grants , check here P. K 22b Other grants and allocations (aft sch) $ (cash 0. non-cash $ 0. If this amount includes foreign grants , check here 23 24 K (A) Total (B) Program services (C) Management and g eneral ( D) Fundraising

22a

19,167,819.

19,167,819.

22b 23 24

0.

0.

Specific assistance to individuals (attach schedule) Benefits paid to or for members (attach schedule)

2$a Compensation of current officers, directors , key employees , etc listed in Part V-A (attach sch) b Compensation of former officers, directors , key employees , etc listed in Part V- B (attach sch ) c Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) (attach schedule) ... 26 27 28 29 Salaries and wages of employees not included on lines 25a , b, and c Pension plan contributions not included on lines 25a , b, and c ..

25a

0 .

0.

0.

0.

25b

0 .

0.

0.

0.

25c 26 27 28 29

0. 0. 0.

0. 0. 0.

- 0. 0. 0.

0. 0. 0.

Employee benefits not included on lines 25a - 27 Payroll taxes

30 Professional fundraising fees 31 Accounting fees 32 Legalfees
33 34 35 36 37 38 40 41 42 43 Supplies Telephone Postage and shipping Occupancy Equipment rental and maintenance Printing and publications Conferences , conventions , and meetings Interest Depreciation , depletion , etc (attach schedule) Other expenses not covered above ( itemize). ..

30 31 32
33 34 35 36 37 38

10,645. 28 ,405.

0. 0.

10,645. 0.

0. 28,405.

39 Travel .

39
40 41 42

----------1,735. 43d 0. 1 ,735. 0. dRegistration fees ---- -----43e e ------------------43f f ------------------9 ------------------44 Total functional expenses . Add lines 22a throw h 43g. (Or anizations completin g columns 19,167,819. 19,808,765. 612,541. 28,405. 44 B - D,car ttieseto tals tolines 13 -15 Joint Costs. Check " X if you are following SOP 98-2 110. K Yes No Are any joint costs from a combined educational campaign and fundraising solicitation reported in (B) Program services? amount allocated Program services (ii) the to of joint , aggregate amount these costs $ If 'Yes,' enter (i) the $ , and (iv) the amount allocated $ , (iii) the amount allocated to Management and general to Fundraising $ Form 990 (2006) TEEA0102 01/23/07 BAA

Taxes a ------------------investment fees b ------------------c Admin services --- --

43a 43b 43c

83 ,697. 14 ,581. 501,883.

0. 0. 0.

83,697. 14,581. 501,883.

0. 0. 0.

Donors Cap ital Fund, Inc Form 990 2006 Statement of Program Service Accomplishments Part III

54-1934032

Page 3

Form 990 is available for public inspection and, for some people, serves as the primary or sole source of information 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 s ure the return is complete and accurate and fu lly desc ribes, in Part III, the organization's programs and accomplishment s Program Service Expenses 3j^pp2rt o rgs desc i n IRC_509 (_a ) (1) & 5 09 ( a) (2) What is the organization's primary exempt purpose? ^ (Required for ) (3) and All organizations must describe their exempt purpose achievements in a clear and concise manner State the number of (4) organizations
clients served publications issued , etc. Discuss achievements that are not measurable . (Section 501 (c)(3) and (4) organizat ions and 4347(a)(1) nonexempt charitable trusts must also enter the amount of g rants and allocations to others . ) 4947(a)(1) trusts, but optiona l or others)

a See Statement1 _Attached -------------------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------(Grants and allocations S 19. 182. 819. ) If this amount includes foreion orants . check here
b ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------(Grants and allocations S ) If this amount includes foreign grants, check here C ------------------------------------------------------------------------------------------------------------------------------------------------------------------------ --- --- ----- ------ --- -------- -- --- ------- - -----------------------------------------------------) If this amount includes foreign grants, check here 1-0-7 (Grants and allocations S d -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------) If this amount includes foreign grants, check here P- T7 (Grants and allocations S e Other program services amount inclu des foreign grants, check here " column (B), Program services) equal line 44, f Total of Program Service Expenses (should BAA

19,182,819.

19,182,819. Form 990 (2006)

TEEA0103

01/18/07

Form990 2006)

Donors Cap ital Fund,

Inc

54-1934032 (A) Beginning of year ... 45

Pa g e 4 (B) End of year

Part IV
Note : 45

Balance Sheets (See the instructions.)

Where required, attached schedules and amounts within the description column should be for end-of-year amounts only. Cash - non-interest-bearing

46

Savings and temporary cash investments
47a 47b 48a 48b

17, 962 051. 46

51, 377, 004.

47a Accounts receivable b Less: allowance for doubtful accounts 48a Pledges receivable b Less: allowance for doubtful accounts 49 Grants receivable

47c

48c 49 50a 50b

50 a Receivables from current and former officers, directors, trustees, and key employees (attach schedule) b Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) (attach schedule)
A

s E T

51 a Other notes and loans receivable 51 a (attach schedule ) 51 b b Less: allowance for doubtful accounts 52 Inventories for sale or use 53 Prepaid expenses and deferred charges L-54a Stmt: 8 Cost 54a Investments - publicly-traded securities Cost b Investments - other securities (attach sch) 55a equipment: basis buildings, & Investments land, 55a b Less: accumulated depreciation (attach schedule) . 55b

51 c 52 ^ X FMV FMV 12,693 , 603. 53 54a 54b 15,873,749.

55c

56

Investments - other (attach schedule)
57a

L-56 Stmt

16, 539 845. 56
-

16,940,833.

57a Land, buildings, and equipment: basis b Less. accumulated depreciation (attach schedule) Other assets, including program-related investments 58

57b

57c

59
60 L B I s 61 62 63

(describe' ------------------ ------------ ) Total assets (must eq ual line 74) . Add lines 45 throug h 58
Accounts payable and accrued expenses Grants payable Deferred revenue

58 47,195,499. 59
66 , 686. 60 61 62 63 64a 64b 65 66

84,191,586.
77,178.

N

Loans from officers, directors, trustees, and key employees (attach schedule) 64a Tax-exempt bond liabilities (attach schedule) b Mortgages and other notes payable (attach schedule) Due to Donors Trust, Inc._ 65 Other liabilities (describe ^ -------------- -h 65 throw lines 60 liabilities. Add 66 Total X and complete lines 67 Organizations that follow SFAS 117, check here mV-1 through 69 and lines 73 and 74.

81,608. 148, 294.

85,080. 162, 258.

A

67

Unrestricted

47, 047, 205. 67
68 69

84, 029, 328.

N D

68 Temporarily restricted 69 Permanently restricted and complete lines Organizations that do not follow SFAS 117 , check here ^ 70 through 74 70 Capital stock, trust principal, or current funds 71 Paid-in or capital surplus, or land, building, and equipment fund 72 Retained earnings, endowment, accumulated income, or other funds 73 Total net assets or fund balances . Add lines 67 through 69 or lines 70 through 72 (Column (A) must equal line 19 and column (B) must equal line 21) Total liabilities and net assets/fund balances . Add lines 66 and 73 47,047 , 205. 47 , 195, 499.

70 71 72 73 74 84 029 328. 84,191,586. Form 990 (2006)

5 74 BAA

TEEA0104

01/18/07

Form990 2006

Donors Cap ital Fund,

Inc

54-1934032

Page5

Part IV-A Reconciliation of Revenue per Audited Financial Statements with Revenue per Return (See the instructions)
a b Total revenue, gains, and other support per audited financial statements Amounts included on line a but not on Part I, line 12. a 56, 805, 888.

1 Net unrealized gains on investments
2Donated services and use of facilities 3Recoveries of prior year grants 40ther (specify): ----------------------------- -------------------------------------- -Add lines b1 through b4

b1
b2 b3 b4

1,152,644.

b

1,152,644.

c
d

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

c

55, 653, 244.

20ther (specify): _ - _ _ _ _ _ . . . . . . . . . . . . . . . . . . . . . . . .
-------------------------------------

d2 l
d
e 55, 653, 244.

Add lines d1 and d2
e Total revenue (Part I, line 12) Add lines c and d

Part IV-B Reconciliation of Expenses per Audited Financial Statements with Expenses per Return
a b Total expenses and losses per audited financial statements Amounts included on line a but not on Part I, line 17. 1 Donated services and use of facilities 2Prior year adjustments reported on Part I, line 20 3Losses reported on Part I, line 20 40ther (specify): Grant rescinded after mpleted ________________________ ____ _ a_ _ it _ c _o _ ud Add lines b1 through b4 a b1 b2 b3 19,823,765.

b4

15,000.
b 15,000.

c
d

Subtract line b from line a
Amounts included on Part I, line 17, but not on line a: 1 Investment expenses not included on Part I, line 6b 20ther (specify): -------------------------------------------------------------------Add lines d1 and d2 Total expenses Part I, line 17) . Add lines c and d d1 d2

c

19,808,765.

e

d e

19,808,765.

Part V-A

Current Officers , Directors, Trustees , and Key Employees (List each person who was an officer, director, trustee, or key employee at any time during the year even if they were not compensated.) (See the instructions)
(A) Name and address (B) Title and average hours per week devoted to position (C) Compensation (i f not paid , enter -0-) (D) Contributions to employee benefit plans and deferred compensation plans (E) Expense account and other allowances

James- S Wachs ---------------

c/o the Organization ----------President
Bruce_HJacobs __ ________

2.5

0.

0.

0.

c/o the organization - - --------

Vice Pres. 2.5 0. 0. 0.

Whitney L Ba11__ ____ c/o Organization _ _ ___ the - - -------Christopher DeMuth_ _ _ _ _ _ _ _ _c/o_ theOrganization ______

Sec./Treas.

20

0.

0.

0.

Board Member Steven-Hayward ___________ c/o the Or anization Board Member
See List of Officers, Etc Statement _ _ _ _ --- ----- -------

2.5

0.

0.

0.

2.5

0.

0.

0.

BAA

TEEn0105

01ns/07

Form 990 (2006)

Form 990 (2006) Donors C apita l Fund,

Inc

54-1934032

Page 6

Part V-A Current Officers , Directors , Trustees , and Key Em p loyees (continued)
09_ 75a Enter the total number of officers, directors, and trustees permitted to vote on organization business as board meetings b Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships? If 'Yes,' attach a statement that identifies the individuals and explains the relationship(s) c Do any officers, directors, trustees, or key employees listed in form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization? See the instructions for the definition of 'related organization' If 'Yes,' attach a statement that includes the information described in the instructions d Does the organization have a written conflict of interest policy

Yes No

75b

X

75c

X

75d X Part 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, list that person below and enter the amount of compensation or other benefits in the appropriate column See the instructions.) (C) Compensation (D) Contributions to (E) Expense (if not paid, employee benefit account and other (B) Loans and (A) Name and address Advances enter -0-) plans and deferred allowances compensation plans NONE -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Part VI Other Information (See the instructions. )
Did the organization make a change in its activities or methods of conducting activities? If 'Yes,' attach a detailed statement of each change 77 Were any changes made in the organizing or governing documents but not reported to the IRS? 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? b If 'Yes,' has it filed a tax return on Form 990-T for this year? 76 79 Was there a liquidation, dissolution, termination, or substantial contraction during the year? If 'Yes,' attach a statement

Yes No
----- - 76 77 78a 78b 79 ---80a X X X X X X

.

80a Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc, to any other exempt or nonexempt organization? Donors Trust, _ Inc. b If 'Yes,' enter the name of the organization ^ ----------_ _ _ _ _ _ _ _ _ and check whether it is X exempt or nonexempt. -------------------81a l 81 a Enter direct and indirect political expenditures. (See line 81 instructions) b Did the organization file Form 1120-POL for this year? BAA

_ 1b X Form 990 (2006)

TEEA0106

01/18/07

Form990 2006

Donors Cap ital Fund,

Inc

54-1934032

Page7

Part VI

Other Information (continued)
82a

Yes

No
X

82 a Did the organization receive donated services or the use of materials, equipment, or facilities 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 182b1 revenue in Part I or as an expense in Part II (See instructions in Part III) 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 quid pro quo contributions? 84a Did the organization solicit any contributions or gifts that were not tax deductible? b If 'Yes,' did the organization include with every solicitation 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. c Dues, assessments, and similar amounts from members d Section 162(e) lobbying and political expenditures e Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices f Taxable amount of lobbying and political expenditures (line 85d less 85e) g Does the organization elect to pay the section 6033(e) tax on the amount on line 85f? 85c 85d 85e 85f N/P N/P N/P NIP 85 91 N/ 85h N/P N/P N/P N/A 88a X N/

83a 83b 84a

X N/ X

h If section 6033(ex1XA) dues notices were sent, does the organization agree to add the amount on line 85f 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 Initiation fees and capital contributions included on 86a line 12 86b b Gross receipts, included on line 12, for public use of club facilities 87a 87 501('c)(12) organizations. Enter a Gross income from members or shareholders b Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them) 87b

88 a At any time during the year, did the organization own a 50% or greater interest in 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

b At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of ^ 88b X section 512(b)(13)' If 'Yes,' complete Part XI organization during the year under: imposed on the Amount of tax 89a 501('c)(3) organizations. Enter: , section 4955 ^ , section 4912 ^ section 4911 -------------------------- --- 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 it become aware of an excess benefit transaction from a prior year? If 'Yes,' attach a statement 89b explaining each transaction c Enter: Amount of tax imposed on the organization managers or disqualified 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 prohibited tax shelter transaction? f All organizations. Did the organization acquire a direct or indirect interest in any applicable insurance contract?

X

-

0.
89el I X

g For supporting organizations and sponsoring organizations maintaining donor advised funds Did the supporting organization , or a fund maintained by a sponsoring organization , have excess business holdings at any time during 89g X the year? CT, FL, IL, NY, TX, VA, WA 90a List the states with which a copy of this return is filed ^ --------------------------b Number of employees employed in the pay period that includes March 12, 2006

(See instructions ) 91 a The books are in care of ^ Located at 1, See page

the Organization _ _ _ _ _ _ _ _ _ _

Telephone number ^

190bl (703)535-356 . 3 _ ZIP+4 ^ 22313

0

b At any time during the calendar year, did the organization have an interest in or a signature or other authority over a financial account in a foreign country (such as a bank account, securities account, or other financial account)? If 'Yes,' enter the name of the foreign country
See the instructions for exceptions and filing requirements for Form TD F 90-22 .1, Report of Foreign Bank and Financial Accounts.

91 b

Yes X

No

BAA

Form 990 (2006)

TEEA0107

01/18/07

Form 990 (2006) Donors Cap ital Fund,

Inc

54-1934032
Yes I 91 c

Page E
No X

Part VI Other Information (continued) c At any time during the calendar year, did the organization maintain an office outside of the United States? If 'Yes,' enter the name of the foreign country 11 - - - - - - - - - - - - - - - - - - - - - - - - - - 92 Section 4947(a)(1) nonexempt charitable trusts filing Form 990 in lieu of Form 1041- Check here and enter the amount of tax-exem p t interest received or accrued durin g the tax year

92

Part VII Analysis of Income - Producin g Activities (See the instructions.)
Unrelate d business income Note : Enter gross amounts unless otherwise indicated. 93 a b Program service revenue (A) Business code (B) Amount Excluded by se ction 512, 513, or 514 (C) Exclusion code (D) Amount Related(or exempt function income

c d e
f Medicare/Medicaid payments g Fees & contracts from government agencies 94 Membership dues and assessments

95 Interest on savings & temporary cash invmnts 96 Dividends & interest from securities
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

14 14

548,600. 875,361.

99 Other investment income 100 Gain or (loss) from sales of assets
101
102 103

900000

182, 836.

14
18

1,598,152.
309,811.

other than inventory Net income or ( loss) from special events
Gross profit or ( loss) from sales of inventory Other revenue: a

b Funds from secs lit. settlement C

01

264.

d e 104 Subtotal (add columns ( B), (D), and (E)) 182,836. . 3,332,188. .
3,515,024. 105 Total (add line 104, columns (B), (D), and (E)) Note : Line 105 plus line le . Part I. should ecual the amount on line 12. Part I Line No. V

Part VIII Relationshi p of Activities to the Accom plishment of Exem pt Purposes (See the instructions. )
Explain how each activity for which income is reported in 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

Part IX Information Reg ardin g Taxa ble Subsidiaries and Disreg arded Entities (See the instructions. )
(A) Name, address, and EIN of corporation, partnership, or disregarded entity (B) Percentage of ownership interest

DCF LLC the Or g anization's address
uses the Or g anization's EIN

100.0000 % %
$

nve

Part X

Information Reaardina Tran sfers Associa ed wi

a Did the organization, during the year, receive any funds, directly or indirectly, to pay I b Did the organization, during the year, pay premiums, directly or indl
-* .. ,L 1- 1&1 9.1. =--- OO7A -JG....... A71n /.-.... ,.... 1.....1,.x....-1

BAA

Form 990 (2006) Donors Cap ital Fund,

Inc

54-1934032

Pa g e 9

Part XI

Information Regarding Transfers To and From Controlled Entities . Complete only if the organization is a controllina organization as defined in section 512(b)(13).
Yes No x

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 p lete the schedule below for each controlled entity (A) Name , address, of each controlled entity ------------------------(B) Employer Identification Number (C) Description of transfer

(D) Amount o f transfer

a

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

b

c

Totals Yes 107 Did the reporting organization receive any transfers from a controlled entity as defined in section 512(b)(13) of the Code? If 'Yes,' com p lete the schedule below for each controlled entity (A) Name , address , of each controlled entity ------------------------(B) Employer Identification Number (C) Description of transfer No x

(D Amount O?transfer

a

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

b

- ------------------------------------------------ -----------------------Totals Yes No

c

108

Did the organization have a binding written contract in effect on August 17, 2006, covering the interest, rents, royalties, and annuities described in quesxlon 107 above?
Under penalbMolper true, correct , declare Declar

NI

t I have examine thi s return , including accompan y ing schedules and statements, and to the best of my knowledge and belief, it is n officer) i based on all information of which preparer has any knowledge i n of preparer (othiff

Please Sign Here
ai d PreO n ly
BAA

^
na offi r

6 N^
Date

o

^
Pre parer's signature

(JV{--(^N(c
Type or print name and title

• BkCL S^Z.^.E`04^(- `L2E SuREQZ
Date Check if t2j employed "' X or Generalr's SSNInstruct WI N (See

^

a rer's 5 se

Firm' s name (or yours it selfe mp loyed), ^ I Pe 4, and

Z

dministration LLC Ent Cha ( N 22410 200 AAK St 4' VA 22201-2514 ton Ar1i

EIN Phone no
Form 990 (2006)

TEEA0110

01/19/07

SCHEDULE A (Form 990 or 990-EZ)

Organization Exempt Under Section 501(cX3)
(Except Private Foundation) and Section 501(e), 501(f), 501(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

Department of the Treasury Internal Revenue Service 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 instructions. List each one. If there are 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 and other allowances

NONE -----------------------------------------------------------------------------------------------------------------------------Total number of other employees paid over $50,000

None

Part II - A I Compensation of the Five Highest Paid Independent Contractors for Professional Services (See Instructions. List each one (whether individuals or firms). If there are none, enter 'None.')
(a) Name and address of each independent contractor paid more than $50,000 NONE ----------------------------------------(b) Type of service I (c) Compensation

Total number of others receiving over

111d None $50,000 for professional services Part II - B Compensation of the Five Highest Paid Independent Contractors for Other Services

(List each contractor who performed services other than professional services, whether individuals 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. --------------------------------------22314 Administration 109 N Henry St, Alexandria, VA

501,883.

----------------------------------------------------------------------------------------------------------------------------------------------------------------Total number of other contractors receiving None over $50,000 for other services BAA For Paperwork Reduction Act Notice, see the Instructions for Form 990 and Form 990-EZ.
lEEA0401 01/19/07

Schedule A (Form 990 or 990-EZ) 2006

Schedule A (Form 990 or 990-EZ) 2006 PartIII 1

Donors Cap ital

Fund,

Inc

54-1934032 Yes

Page2 No

Statements About Activities (See Instructions.)

During the year, has the organization attempted to influence national, state, or local legislation, including any attempt to influence public opinion on a legislative matter or referendum? If 'Yes,' enter the total expenses paid 0. $ or incurred in connection with the lobbying activities (Must equal amounts on line 38, Part VI-A, or line i of Part VI-B.) . 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 VI-B AND attach a statement giving a detailed description of the lobbying activities

1

X

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 is affiliated as an officer, director, trustee, majority owner, or principal beneficiary? (If the answer to any question is 'Yes,' attach a detailed statement explaining the transactions.)

a Sale , exchange , or leasing of property? b Lending of money or other extension of credit? c Furnishing of goods, services, or facilities? d Payment of compensation (or payment or reimbursement of expenses if 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 recipients 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 negotiation services? 4a Did the organization maintain 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 distributions under section 4966? c Did the organization make a distribution 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 e Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year 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 distribution or investment of amounts in such funds or accounts g Enter the aggregate value of assets held in all funds or accounts included on line 4f at the end of the tax year BAA X0402 04104/07

2al

I X

2el
3a 3b

I X
X X

3c 3d 4a 4b 4c X

X X

83,993,353.

'

0

0.

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

PartIV

Reason for Non-Private Foundation Status (See instructions.)

I certify that the organization is not a private foundation because it is: (Please check only ONE applicable box ) 5 6 7 8 9 K A church , convention of churches , or association of churches Section 170 (b)(1)(A)(i). K A school . Section 170 (b)(1)(A)(ii). (Also complete Part V.) K A hospital or a cooperative hospital service organization Section 170(b)(1)(A)(iii). K A federal , state, or local government or governmental unit. Section 170(b)(1)(A)(v) K A medical research organization operated in conjunction with a hospital Section 170(b)(1)(A)( ui). Enter the hospital 's name, city, and state --------------------------------------------------------K An organization operated for the benefit of a college or university owned or operated by a governmental unit Section 170(b)(1)(A)(iv) (Also complete the Support Schedule in Part IV-A.)

10

11 a K An organization that normally receives a substantial part of its support from a governmental unit or from the general public Section 170(b)(1)(A)(vi). (Also complete the Support Schedule in Part IV-A.)

11 b K A community trust Section 170(b)(1)(A)(vi). (Also complete the Support Schedule in Part IV-A ) 12 K An organization that normally receives : (1) more than 33-1/3% of its support from contributions, membership fees, and gross receipts from activities 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 ) An organization that is not controlled by any disqualified 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: M Type I K Type III-Other K Type III- Functionally Integrated K Type II Provide the following information about the supported organizations . (See instructions.) b Employer identification number (EIN) c Type of organization (described in lines 5 through 12 above or IRC section )
Is the supported organization listed in the supporting organization's governing documents?

13

(a) Name(s) supported of organization (s)

(e) Amount of support

Yes

No

See Grantee Schedule, Attached

X

Total 14 K An organization organized and operated to test for public safety. Section 509(a)(4) (See instructions ) BAA Schedule A (Form 990 or 990-EZ) 2006

TEE.AD407

01/22/07

2006 Donors Cap ital Fund, Inc 54-1934032 Schedule A Form 990 or 990 Part IV-A Support Schedule (Complete only if you checked a box on line 10, 11, or 12.) Use cash methodof accounting. Note : You may use the worksheet in the instructions for converting from the accrual to the cash method of accounting Calendar year (or fiscal year beginning in) 15 Gifts, grants, and contributions received. (Do not include unusual g rants See line 28 16 Membershi p fees received 17 Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc, p ur pose Gross income from interest, dividends, 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 organization after June 30, 1975 Net income from unrelated business activities not included in line 18 Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf The value of services or facilities furnished to the organization by a governmental unit without charge Do not include the value of services or facilities generally furnished to the p ublic without charg e schedule Do not include gain or (loss) from sale of ca p ital assets Total of lines 15 throu g h 22 Line 23 minus line 17 (a) 2 00 5 (b) 2004 (c) 2 00 3 (d) 2 00 2 (e) Total

Page 4 N/A

18

19 20

21

22 Other income Attach a

23 24 25 26 b

c d e f 27 a

Enter 1 % of line 23 ^ 26a a Enter 2% of amount in column (e), line 24 Organizations described on lines 10 or 11 : each person (other than governmental unit or publicly amount contributed by a show the name of and for your records to Prepare a list supported organization) whose total gifts for 2002 through 2005 exceeded the amount shown in line 26a Do not file this list with your ' 26b return. Enter the total of all these excess amounts Enter line 24, column (e) 509(a)(1) test: 11 26c for section Total support 18 19 Add Amounts from column (e) for lines: ^ 26 d 22 26b 1" 26e Public support (line 26c minus line 26d total) ^ 26f % Public su pport percenta ge ine 26e (numerator) divided by line 26c (denominator)) Organizations described on line 12: For amounts included in lines 15, 16, and 17 that were received from a 'disqualified person,' prepare a list for your records to show the name of, and total amounts received in each year from, each 'disqualified 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 in line 17 that was received from each person (other than 'disqualified persons'), prepare a list for your records to show the name of, and amount received for each year, that was more than the larger of (1) the amount on line 25 for the year or (2) $5,000. (Include in the list organizations described in lines 5 through 11 b, as well as individuals) Do not file this list with your return. After computing the difference between the amount received and the larger amount described in (1) or (2), enter the sum of these differences (the excess amounts) for each year (2005) ---------- (2004)------------ (2003)------------ (2002)------------16 15 c Add- Amounts from column (e) for lines: 21 20 01 27c 17 and line 27b total 27d d Add. Line 27a total 27e e Public support (line 27c total minus line 27d total) 27f f Total support for section 509(a)(2) test: Enter amount from line 23, column (e) ^ 27 g Public support percentage (line 27e (numerator) divided by line 27f (denominator)) ^ 27h h Investment income percenta ge ine 18, column (e) (numerator) divided by line 27f (denominator)) 28

$

Unusual Grants: For an organization described in line 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 in line 15. TEE,A0403 01/19/07 Schedule A (Form 990 or 990-EZ) 2006 BAA

Schedule A (Form 990 or 990 -EZ) 2006 Donors Cap 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/A
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? Does the organization include a statement of its racially nondiscriminatory policy toward students in all its brochures, catalogues, and other written communications with the public dealing with student admissions, programs, and scholarships Has the organization publicized its raciall y nondiscriminatory policy through newspa p er or broadcast media during the period of solicitation for students, or during the registration period if it has no solicitation program, in a way that makes the policy known to all parts of the general community it serves? If 'Yes,' please describe , if 'No,' please explain . ( If you need more space , attach a separate statement )

1 29

30

30

31

31

32

--------------------------------------------------------Does the organization maintain the following: . . a Records indicating the racial composition of the student body , faculty , and administrative staff? b Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory basis? c Copies of all catalogues, brochures, announcements, and other written communications to the public dealing with student admissions, programs, and scholarships? d Copies of all material used by the organization or on its behalf to solicit contributions? If you answered 'No' to any of the above, please explain. (If you need more space, attach a separate statement.) -----------------------------------------------------------------------------------------------------------------

_ 32a 32b 32c 32d

33

Does the organization discriminate by race in any way with respect to. a Students' rights or privileges? b Admissions policies? c Employment of faculty or administrative staff? d Scholarships or other financial assistance? e Educational policies? f Use of facilities? g Athletic programs? h Other extracurricular activities? If you answered 'Yes' to any of the above , please explain . ( If you need more space , attach a separate statement ) -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------33 a 33 b 33 c 33 d 33 e 33f 33 33 h

34a Does the organization receive any financial aid or assistance from a governmental agency? b Has the organization's right to such aid ever been revoked or suspended? If you answered 'Yes' to either 34a or b, please explain using an attached statement 35 Does the organization certify that it has complied with the a pp licable requirements of sections 4 01 through 4.05 of Rev Proc 75-50 , 1975-2 C B . 587, covering racial nondiscrimination ? If 'No.' attach an explanation.
TEEA0404 01/19/07

BAA

35 or

Donors Cap ital Fund, Inc Schedule A Form 990 or 990-EZ) 2006 Part VI -A Lobbying Expenditures by Electing Public Charities (see instructions)
(To be completed ONLY by an a igible organization that filed Form 5768) Check ^ a I I if the organization belongs to an affiliated group Check ^ b I

54-1934032

Page 6

Limits on Lobbying Expenditures
(The term 'expenditures' means amounts paid or incurred.) 36 37 38 39 40 41

Total lobbying expenditures to influence public opinion (grassroots lobbying) Total lobbying expenditures to influence a legislative body (direct lobbying) Total lobbying expenditures (add lines 36 and 37) Other exempt purpose expenditures Total exempt purpose expenditures (add lines 38 and 39) Lobbying nontaxable amount. Enter the amount from the following table The lobbying nontaxable amount is If the amount on line 40 is 20% of the amount on line 40 Not over $500,000 $100,000 plus 15% of the excess over $500,000 Over $500,000 but not over $1,000,000 $175,000 plus 10% of the excess over $1,000,000 Over $1,000,000 but not over $1,500,000 $225,000 plus 5% of the excess over $1,500,000 Over $1,500,000 but not over $17,000,000

N/A I if you checked ' a' and ' limited control ' provisions apply (b) (a) Affiliated group To be completed totals for all electing org anizations 36 37 38 39 40

41

42 43 44

$1,000,000 Over $17,000,000 Grassroots nontaxable amount (enter 25% of line 41) . Subtract line 42 from line 36 Enter -0- if line 42 is more than line 36 Subtract line 41 from line 38 Enter -0- if line 41 is more than line 38 Caution : If there is an amount on either line 43 or line 44, you 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 (or fiscal year beginning in) 45 46 47 Lobbying nontaxable (a) 2006 (b) 2005 (c) 2004 (d) 2003 (e) Total

amount
Lobbying ceiling amount ( 150% of line 4 5(e)) Total lobbying

ex penditures 48 Grassroots nontaxable amount 49 50 Grassroots ceiling amount 150% of line 48(e Grassroots lobbying expenditures

Part VI- B

Lobbying Activity by Nonelecting Public Charities
(For reporting only by organizations that did not complete Part VI-A) (See instructions ) Yes No Amount

During the year, did the organization attempt to influence national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of

X a Volunteers X b Paid staff or management (Include compensation in expenses reported on lines c through h.) X c Media advertisements public X or the legislators, d Mailings to members, X statements published or broadcast e Publications, or X lobbying purposes for f Grants to other organizations or legislative officials, a body X staffs, government their g Direct contact with legislators, lectures, or any other means X conventions, speeches, In Rallies, demonstrations, seminars, through h.) lines c i Total lobbying expenditures (add If 'Yes' to any of the above, also attach a statement giving a detailed description of the lobbying activities BAA Schedule A (Form 990 or 990-EZ) 2006
TEEA0405 01/19/07

Schedule A (Form 990 or 990-EZ) 2006

Donors Cap ital Fund,

Inc

54-1934032

Pag e 7

Part VI
51

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (See instructions)

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? Yes No a Transfers from the reporting organization to a noncharitable exempt organization of: X (i)Cash r!a X (ii)Other assets b Other transactions. b i X (i)Sales or exchanges of assets with a noncharitable exempt organization b ii X (i)Purchases of assets from a noncharitable exempt organization b iii X (ii)Rental of facilities , equipment , or other assets b Civ X (v) Reimbursement arrangements b v X (v)Loans or loan guarantees b (vi) X (vi)Performance of services or membership or fundraising solicitations c c Sharing of facilities , equipment , mailing lists, other assets , or paid employees d If the answer to any of the above is 'Yes,' com p lete the following schedule . Column (b) should always show the fair market value of g anization If the organization received less than fair market value in the goods , other assets , or services given by the reporting orth anv transaction or sharina arrangement . show in column (d) e 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

52a Is the organization directly or indirectly 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"

^ 11 Yes X]

No

BAA
IEEAD406 01/19/07

Schedule A (Form 990 or 990-EZ) 2006

Form 990 Line 8(A) and 8(B)
Statement
Name Donors Capital Fund,

Schedule of Gains and Losses from Sale of Assets Other than Inventory
11, Attach to return

2006

Inc

Employer Identification Number 54-1934032

Part I, Line 8, Column (A) Public Securities

Securities

Description
Publicly Traded Securities

Gross Sales Price
3,208 ,715. Cost

Basis
2 ,898,904. 2,898,904.

Sellin g Ex p enses
Basis

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

Description

Date Acquired and Method

Date Sold and to Whom

Gross Sales Price

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

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

Total Securities Gain or (Loss) from Sale of Securities

3,208,715.1

2,898,904. 309,811.

Part I, Line 8, Column (B)
Date Acquired and Method

Other Assets
Date Sold and to Whom Gross Sales Price Cost, other basis or FMV when donated Cost Depreciation Basis Donation FMV Cost Depreciation Basis Donation FMV Cost Depreciation Basis Donation FMV Cost Depreciation Basis Donation FMV

Description

___________ ----------- --------- -- ------___________ ----------- --------- --------__________ ----------- --------- --------_______ ----------- --------- ---------

Total Other Assets Gain or (Loss) from Sale of Other Assets
TEEW0201 SCR 10/30/06

Form

8868

(Rev December 2006) Department of the Treasury

Application for Extension of Time To File an Exempt Organization Return
^ File a se parate application for each return

OMB No

1545-1709

In te rn a l Revenue Service

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

^ U

Do not complete Part/l unlessyou have already been granted an automatic 3-month extension on a previously filed Form 8868 Part t Automatic 3-Month Extension of Time . Only submit original (no copies needed).
K 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 All other corporations (including 1120-C filers), partnerships, REM/CS, and trusts must use Form 7004 to request an extension of time to file income tax returns. Electronic Filing (e-file). Generally, you can electronically file Form 8868 if 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 990-1) However, you cannot file Form 8868 electronically if (1) you want the additional (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 filing of this form, visit www.irs gov/efde and click on e- file for Charities & Nonprofits
Name of Exempt Organization
Employer identification number

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

Donors Capital Fund, Box 1305

Inc

54-1934032

Number , street, and room or suite number If a P O box , see instructions

City, town or post office For a foreign address, see instructions Alexan dria

state

ZIP code

VA
Form 4720 Form 5227 Form 6069 Form 8870

22313

Check type of return to be filed (file a separate application for each return) Form 990-T (corporation) X Form 990 Form 990-T (section 401(a) or 408(a) trust) Form 990-BL Form 990-T (trust other than above) Form 990-EZ Form 1041-A Form 990-PF

the Organization -----------------------• The books are in the care of ^ ----FAX No . Telephone No "(703)535-3563_---__ ^ • If the organization does not have an office or place of business in the United States , check this box whole group, Number (GEN) If this for the is • If this is for a Group Return , enter the organization ' s four digit Group Exemption ^ and attach a list with the names and EINs of all members check this box ^ F1 . If it is for part of the group, check this box 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 Aua 15 _ _ _, 20 0 7 _ , to file the exempt organization return for the organization named above The extension is for the organization ' s return for: ^ ^ 2 XX calendar year 20 06 or tax year beginning - - - - _ _ - -- 20 and ending - - - - _ _ _ , 20 [] Final return Change in accounting period

If this tax year is for less than 12 months , check reason

[] Initial return

3a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any nonrefundable credits. See instructions b If this application is for Form 990-PF or 990-T, enter any refundable credits and estimated tax payments made. Include any p rior year over pay ment allowed as a credit c Balance Due. Subtract line 3b from line 3a Include your payment with this form, or, if required, deposit with FTD coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System) See instructions

3a 1 $ 3b $

0. 0.

3c $

0.

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

FIFZ0501

12/19/06

Cert 7007 0710 0001 4874 9726

54-1934032 Donors Cap ital Fund , Inc Form 8868 (Rev 12-2006 • If you are filing for an Additional (not automatic) 3-Month Extension, complete only Part II and check this box Note . Only complete Part II if you have already been granted an automatic 3-month extension on a previously filed Form 8868 • If you are filing for an Automatic 3-Month Extension , com plete onl y Part I (on pa g e 1 ) .

Page 2 X

Part II
Type or
print File by the
extended

Additional (not automatic) 3-Month Extension of Time. You must file original and one copy.
Name of Exempt Organization Employer identification number

Donors Ca p ital Fund, Inc Number, street, and room or suite number If a P 0 box, see instructions

54-1934032 For IRS use only

Check type of return to be filed (File a separate application for each return): Form 1041-A Form 6069 Form 990-PF X Form 990 Form 4720 Form 8870 Form 990-T (section 401(a) or 408(a) trust) Form 990-BL Form 5227 Form 990-T (trust other thaabove ) Form 990-EZ 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 in care of

Telephone No x(70_3)_535_35_63FAX No ^
U • If the organization does not have an office or place of business in the United States , check this box If this is for the • If this is for a Group Return , enter the organization ' s four digit Group Exemption Number (GEN) 10. EJ If it is for part of the group , check this box 01 whole group, check this box 11 and attach a list with the names and EINs of all members the extension is for 20 07. Nov 4 I request an additional 3 - month extension of time until beginning _ _ _ _ _ _ , 20 and ending 20 other tax year or For calendar year _2006 , 5 reason Initial return Final return Change accounting period check : than 12 months , in year is for less If this tax 6 The Organization holds _an interest _in an investment_ _ _ _ 7 State in detail why you need the extension a K-1, which is necessary to complete accu- rate y LLC that generates UBTI and has not yet received - ------- ----------- - --------------------Part VII of the return and, therefore, respectfully requests an additional extension of time to file. 8a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any nonrefundable credits See instructions b If this application is 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 c Balance Due. Subtract line 8b from line 8a. Include your payment with this form, or, if required, deposit with FTD coupon or, if required, by using EFTPS (Electronic Federal Tax Payment System) See instrs -8b $ 8C$ 0. 0. 8a $ 0.

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, it is true, correct, and complete, and that I am authorized to prepare this form

Signature

Title

11 Attorney

Date 01 08/09/07

Notice to Applicant . (To be Completed by the IRS)

R
^I n
Director

We have approved this application 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 is considered to be a valid extension of time for 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 application because it 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 if you want the copy of this application for an additional 3-month extension returned to an address different than the one entered above.
Name

'haritable Entit,
Type or print Number and street (i nclude suite , room , or apartment number) or a P.O. box number 1PO Box 17367

City or town, province or state , and country (i ncluding postal or ZIP code)

VA
BAA

222
FIFZ0502 12/19/06

Form 8868 (Rev 12-2006)

Donors Capital Fund, Inc

54-1934032

Form 990, Page 5, Part V-A List of Officers , Etc. Statement
(A) Name and address (B) Title and average hours per week devoted to position

(C) Compensation
(if not paid, enter -0-)

Contributions to employee benefit plans and deferred compensation

Expense account and other allowances

Kris Alan Mauren

c/o the Organization William H Mellor c/o the Organization Stephen Moore
c/o the Organization John Von Kannon

Board Member 2.5 Board Member 2.5 Board Member 2.5 Board Member 2.5

0.

0.

0.

0.

0.

0.

0.

0.

0.

c/o the Organization

0.

0.

0.

Form 990, Page 4, Part IV, Line 54a

Investments - Publicly-Traded Securities Statement Beginning of Year End of Year

Line 54a - Investments - Publicly-Traded Securities:
Investment in publicly traded securities Total

12,693,603. 1 15,873,749. 12,693,603. 15,873,749.

Form 990, Page 4, Part IV, Line 56

Investments - Other Statement
Beginning of Year End of Year

Line 56 - Investments - Other:
Investment in Caxton Select LLC Investment in DCF LLC Total

16,539,845. 1 16,085,833. 0. 855,000. 16,539,845. 16,940,833.

Explanation Statement

line 75c Form 990, Part V-A Form/Line: Receipt of Compensation from Other Companies Explanation of:
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

Form 990

3: Accopplishments-a

FORM 990, PART III a - STATEMENT OF PRIMARY EXEMPT PURPOSE. Support of organizations described in Internal Revenue Code sections 509(a)(1) 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.

Form 990 p 6 : Line 75d N/A Adopted during the 2007 tax year.

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