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Financials

Each year, an independent audit is conducted, and an audited Financial Statement is made available to our stakeholders. Total assets at the end of FY2020 were $77,063,723. The Foundation manages its Founders Fund and 104 funds for donors, agencies, and trusts to benefit the community. In 2020, the Foundation awarded 179 charitable organizations a total of $5,766,952, with the majority of those funds awarded to provide food, shelter, and other critical services to residents of Central Washington during the COVID-19 pandemic. 

Clark Nuber is the independent audit firm for the Foundation and brings a depth of experience in the particular accounting requirements of Community Foundations. You may review the most recent (2020) Audited Financial Statements here.

Our Tax Return

The Foundation's current year tax return, the "990", is available upon request.

Davis Educational Fund

In December of 2011, the Estate of Molly Monroe Davis concluded a three-year process, begun upon her death in November of 2008, of distributing a portion of her estate to the Yakima Valley Community Foundation.

At the conclusion of that process, December 31, 2011, the value of her gift was $20,298,460. For the period 2008 through 2020, this incredible gift to the community has funded more than $7.7 million in scholarships for Yakima Valley Students and more than $750,000 in grants to the Yakima Rotary Trust in their role as the Scholarship Administrator. Over time, with solid investment and prudent management, the value of the Davis Scholarship Fund has increased by approximately 31% to a fund balance of approximately $30 million. The legal document that provided this incredible gift to the community is here.

Yakima Rotary Trust (YRT), a volunteer-based organization, was selected as the Scholarship Administrator, and it began the work to administer the award of scholarships to Yakima Valley students in 2006, two years before Ms. Davis' death. Volunteers spent hundreds of hours planning the program and, once the program began, reading applications. Rotarians worked with area high schools to encourage applications. YRT sub-contracts with a third party to administer the scholarship services.

As part of its responsibilities outlined in Ms. Davis Trust, the Yakima Valley Community Foundation is required to conduct an annual audit of the Scholarship Program and make it public. The independent accounting firm Clark Nuber performed Agreed Upon Procedures Reviews of the Program. Those Financial Reviews are here.

If you are interested in learning more about the Mollie Monroe Davis scholarship program or applying for a scholarship click here.

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111 University Parkway, Suite 102
Yakima, WA 98901
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Phone: 509-457-7616
Fax: 509-457-7625
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