$3.8M in expenses

The highland dallas foundation is organized and operated exclusively as a supporting organization within the meaning of section 509(a)(3) of the internal revenue code of 1986, as amended (the "code"), to support and benefit the dallas foundation ("TDF"), a texas nonprofit corporation. TDF is exempt from federal income taxation under section 501(a) of the code as an organization described in section 501(c)(3) of the code and a public charity described in section 509(a)(1) of the code.the organization received its funding as one of three charitable remainder beneficiaries of a charitable remainder trust created by james dondero, which terminated on november 30, 2011. The organization's supported organization, TDF, is the oldest community foundation in texas and serves donors and nonprofit agencies throughout north texas. The organization supports and benefits TDF by making grants directly to TDF in support of its charitable purposes. In addition, upon the direction and on behalf of TDF, the organization may make grants to such other public charities that TDF wishes to benefit in furtherance of TDF's exempt purposes. The total annual grants from the organization to or on behalf of TDF are expected to average approximately $1,000,000 per year.