Академический Документы
Профессиональный Документы
Культура Документы
personal financial information to demonstrate to voters that there clearly are no conflicts
of interest or potential conflicts between his business holdings and state government.
Today’s released information demonstrates that Dick and Betsy DeVos have paid
all taxes in full, have no conflicts of interest and are proven community leaders.
IRS data show that the average tax paid on income by Americans is 11.9 percent.
The top 1 percent of income earners (those with incomes over $1.05 million) paid an
in a tax return.
####
Paid for by DeVos for Governor | PO Box 22216 | Lansing | MI | 48909 | 517-679-0191
www.DeVosforGovernor.com
Dick and Betsy DeVos
No Conflict of Interest
March 31, 2006
o Dick and Betsy DeVos paid both Federal and Michigan income taxes every year during
the past eight years.
o The average Federal income tax rate on taxable income over the past eight years on the
DeVos returns has been 17% on dividends and long-term capital gains and 37% on
ordinary income and short-term capital gains.
o The Michigan income tax rate over the past eight years on the DeVos returns has been the
state’s income tax rate of 3.95% to 4.4%.
o The income on the DeVos tax returns expressed as a percentage of total income over the
same eight-year period of time has consisted of the following:
The above information has been reviewed by Warner Norcross & Judd LLP and found to be
consistent with the 1997-2004 tax returns.
IRS data show that the average tax paid on income by Americans is 11.9 percent. The top 1
percent of income earners (those with incomes over $1.05 million) paid an average of 24.31
percent.
No Conflicts of Interest
Dick DeVos has received no compensation from Alticor since 2004. Dick and Betsy DeVos are
not aware of any business relationships or planned business relationships between any of the
entities in this document and the State of Michigan with the exception of the hotel properties
owned and controlled by Alticor and Activa Management LLC. These hotels do business with
the State of Michigan from time to time consisting of the renting of hotel rooms and the
providing of conference space and services on a rental basis.
-1-
Dick and Betsy DeVos – Financial Disclosure March 31, 2006
The following assets represent individual investments in which Dick and Betsy DeVos have an
investment interest as of December 31, 2005:
Companies in which Dick and Betsy DeVos along with other members of the DeVos family have
controlling interests:
o MVP Sportsplex-GR, LLC – Health club facilities in Grand Rapids, Michigan
o Orlando Magic, Ltd. – NBA franchise in Orlando, Florida
o Orlando Sportsplex, Ltd. – Multi-use health club and office facility in Orlando,
Florida
o RDV Corporation – The DeVos family investment management and family office
in Grand Rapids, Michigan
o Spout LLC – On-line DVD sales and marketing company located in Grand Rapids,
Michigan
o Windquest Companies, Inc. – Manufacturer of organization and storage systems
located in Holland, Michigan
o Windquest Group, Inc. – Investment holding company located in Grand Rapids,
Michigan
Companies in which Dick and Betsy DeVos along with other members of the DeVos family have
significant interest but less than full control:
o Alticor Global Holdings Inc. – Ada, Michigan based parent company of Amway
Corporation, Quixtar and Access Business Group
o Activa Holdings LLC – Grand Rapids, Michigan based owner of West Michigan
area real estate
o Activa Management LLC – Grand Rapids, Michigan based operator of travel
service, third party benefits provider, and a downtown Grand Rapids hotel franchise
Companies in which Dick and Betsy DeVos have an investment interest but no control:
o Ownership interest in privately-held companies:
o American Medical Instruments Holdings, Inc. – Dartmouth, Massachusetts
based manufacturer of specialty medical supplies
o Ampac Paper, Inc. and Ampac Plastics, Inc. – Cincinnati, Ohio based
producers of packaging products
o Cirrus Industries, Inc. – Duluth, Minnesota based manufacturer of general
aviation aircraft
o CorePharma, LLC – Middlesex, New Jersey based manufacturer of generic
pharmaceuticals
-2-
Dick and Betsy DeVos – Financial Disclosure March 31, 2006
-3-
Dick and Betsy DeVos – Financial Disclosure March 31, 2006
Investment Holdings
Managed Funds and Accounts
In addition to the investments listed above, the Dick and Betsy DeVos family have invested with
numerous investment managers and investment funds which independently manage their
investments; Dick and Betsy DeVos do not control investment decisions of the managers or of
the funds.
Investment Holdings
Real Estate
Dick and Betsy DeVos have an ownership interest in various real estate properties:
Real estate redevelopment projects in downtown Grand Rapids, Michigan, which are managed
by unrelated partners:
o Cherry Street JV, LLC and CSL West Associates, LLC – Cherry Street Landing
area
o Michigan Street Development, LLC – Michigan Street hospital corridor
-4-
Dick and Betsy DeVos – Financial Disclosure March 31, 2006
A Baby's Prayer Foundation Ave Maria School of Law Children First America
Act One, Inc Baptists for Life Children's Leukemia Foundation
Acton Institute For The Study of Battle Creek Christian School of Michigan
Religion and Liberty Baxter Community Center Children's National Medical
Ada Christian School Becket Fund Center
Ada Congregational Church Belvedere Cove Foundation Children's Scholarship Fund
Ada Township Best Friends Foundation Children's Sonshine Network
Alliance for School Choice Bethany Christian Services Choices for Children
Alpha Women's Center, Inc. Bethel Pentecostal Church Christ Centered Homes, Inc.
Alternative Directions Big World Ventures, Inc. Christ Church
Alternatives Women's Care Black Alliance for Educational Christel House Academy, Inc.
Center Options Christian Action Research and
Amateur Athletic Union Black Educational Excellence Education
American Autoimmune Related Program Christian Counseling Center
Diseases Association Blodgett Butterworth Health Christian Learning Center
American Cancer Society - Care Foundation Christian Reformed Home
Great Lakes Division, Inc. Boy Scouts of America, Gerald Missions
American Cancer Society- R. Ford Council Christian Reformed World
Orlando Metro Unit Boys & Girls Club of America Missions
American Center of Oriental Boys & Girls Club of Greater Christian Reformed World
Research Holland Relief Committee
American Council of Young Boys Towns of Italy, Inc. City Vision, Inc.
Political Leaders Broadway Theatre Guild Civics Institute
American Diabetes Association Byron Center Christian School Close Up Foundation
- National Byron Center Fine Arts Community Empowerment
American Enterprise Institute Foundation Project
for Public Policy Research California International Sailing Community Foundation of the
American Family Hope Association Holland/Zeeland Area
American Heart Association - Calvary Baptist Schools Community Youth Connection,
Midwest Affiliate Calvary Church Inc.
American Heart Association - Calvin College Compass Academy (Compass
Michigan Affiliate, Inc. Calvin Theological Seminary Arts)
American Legion Camp Tall Turf Competitive Enterprise Institute
American Red Cross, West Campus Crusade for Christ Conductive Education &
Central Michigan Catholic Charities USA Rehabilitation Center of
Americans United for Life Catholic Human Development Michigan, Inc.
Ann Arbor Christian School Outreach Corn Heritage Village Center
Aquinas College Catholic Secondary Schools Cornerstone Schools
Arthritis Foundation - West Catholic Social Services Association
Michigan Region Celebration on the Grand Cornerstone University
Arts Council of Greater Grand Center for Individual Rights Council for National Policy
Rapids, Inc. Center for Military Readiness Council of Michigan
ArtWorks Chamber Choir of Grand Rapids Foundations
Aspen Valley Ski & Snowboard Character Resources of Country Cares for Kids
Club, Inc. Michigan Covenant House
Association for the Blind and Cherry Street Health Services Covenant House Michigan
Visually Impaired Child Abuse and Neglect Center Covenant Life Church
Ave Maria College of Oakland County Criminal Justice Chaplaincy
-5-
Dick and Betsy DeVos – Financial Disclosure March 31, 2006
Crooked Tree Arts Council, Inc. Friends of the Americas Grand Traverse Regional
Cure International, Inc. Frontiers of Freedom Community Foundation
Dana Farber Cancer Institute Gerald R. Ford Foundation Grand Valley State University
Dave Dravecky's Outreach of Gereja Kristen Jawa Jakarta Grand Valley University
Hope Church Foundation
Davenport University Gerontology Network Services Grandville Avenue Arts &
Dead Sea Scrolls Foundation, of Kent County Humanities, Inc.
Inc. Good News Communications Greater Educational
Deaf Opportunity Outreach Good Samaritan Ministries Opportunities Foundation
Degage Ministries Goodwill Industries of Greater Grove City College
Detroit Symphony Orchestra Grand Rapids, Inc. Habitat for Humanity -
Direct Selling Education Gospel Communications Lakeshore
Foundation International Habitat for Humanity -
Dove Foundation Grace Centers of Hope Shiawassee County
Dream for Africa Grace Christian Reformed Habitat for Humanity of Greater
Drug Free America Foundation Church Albion
Dwelling Place of Grand Rapids Grace Youth Camp & Retreat Habitat for Humanity of Kent
Eastern Avenue Christian Center County
Reformed Church Grand Action Foundation Habitat for Humanity of
Economic Club of Detroit Grand Haven Area Community Michigan
Edison Institute Foundation, Inc. Haggai Institute
Education Freedom Fund Grand Horizons Foundation Harbor House Ministries
Ele's Place (Bright Horizons) Haven Christian Reformed
English Language Institute/ Grand Rapids Area Chamber of Church
China Commerce Health Intervention Services
Evangelistic Commerce, Inc. Grand Rapids Art Museum Helen DeVos Children's
Evergreen Commons Grand Rapids Ballet Co. Hospital Foundation
Faith Temple Word of Faith Grand Rapids Chamber Heritage Foundation
Outreach Foundation (Silent Observer) Hillsdale Conservative Alliance
Faith, Inc. Grand Rapids Children's Hispanic Center of Western
Families Northwest Museum Michigan, Inc.
Family Life Center Grand Rapids Christian High Holland Christian Education
Family Outreach Center School Society
Family Research Council Grand Rapids Christian School Holland Community Hospital
Family Resource Network, Inc. Association Holland Education Foundation
Federalist Society for Law & Grand Rapids Civic Theatre Holland Home
Public Policy Studies Grand Rapids Community Holland Rescue Mission
Fellowship of Christian Athletes College Holy Family Oratory of St.
Ferguson-Blodgett Foundation Grand Rapids Community Philip Neri, Inc.
Fight for Children, Inc. Foundation Holy Redeemer Roman Catholic
First Presbyterian Church Grand Rapids Economic Club Church
Flannel Charitable Foundation Home Repair Services of Kent
Florida P.R.I.D.E. Grand Rapids Griffins Youth County Inc.
Florida School Choice Fund, Foundation Hope College
Inc. Grand Rapids Opportunities for Hope Network Foundation
Focus Hope Women Hope Summer Repertory
Focus on the Family Grand Rapids Rowing Club Theatre
Foodbank Council of Michigan, Grand Rapids Student Hospice of Holland, Inc.
Inc. Advancement Foundation Hospice of Michigan in Grand
Foundation Conferences Inc. Grand Rapids Symphony Rapids
Foundation for American Grand Rapids Wheelchair Sports Hospice of Naples, Inc.
Renewal Association Hudson Institute
Foundation for Traditional Grand Rapids Youth Boxing Hugh Michael Beahan
Values Foundation Foundation
Frederik Meijer Gardens Grand Rapids Youth Immaculate Heart of Mary
Freedom Baptist Schools Commonwealth, Inc. Indian River Hospital
Freedom Foundation Foundation, Inc.
-6-
Dick and Betsy DeVos – Financial Disclosure March 31, 2006
-7-
Dick and Betsy DeVos – Financial Disclosure March 31, 2006
-8-