Totals
- Total revenue
- $276,082,637
- Total expenses
- $5,358,913
- Contributions and grants received
- $307,809,150
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- -$31,726,513
- Other revenue
- $0
- Total assets, end of year
- $270,868,207
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $270,868,207
- Program services expenses (Part IX)
- $5,344,462
- Management and general expenses
- $14,451
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,344,462
Program services were 99.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$307,809,150
-
1g · Noncash contributions included above
$307,809,150
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,467,524 · excluded $1,467,524
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $290,988,317
-
7b · Less cost or other basis and sales expenses
securities $324,182,354
-
7c · Gain or loss
securities -$33,194,037 · other assets $0
-
7d · Net gain or loss
total -$33,194,037 · excluded -$33,194,037
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $7,975 · management and general $7,975
-
11c · Fees: accounting
total $3,654 · management and general $3,654
-
11f · Fees: investment management
total $2,500 · management and general $2,500
-
11g · Fees: other
total $0 · program services $0 · management and general $0 · fundraising $0
-
20 · Interest
total $84,572 · program services $84,572
-
24a · Other expenses: Pass Through Deductions
total $5,259,890 · program services $5,259,890
-
24e · All other expenses
total $322 · program services $0 · management and general $322 · fundraising $0
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
end of year $1,608,554
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
11 · Investments: publicly traded securities
end of year $63,451,693
-
12 · Investments: other securities
beginning of year $58,394,483 · end of year $205,807,960
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $58,250,000 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $144,483 · end of year $270,868,207
Mission and programs · 2022
Mission
WPS2 Fund is organized, and shall be operated exclusively, for civic and social welfare purposes. In particular, the purpose of the Corporation is to support innovations and reforms to improve public and private K-12 education for the benefit of all students. The Corporation will support and foster such innovations and reforms through mission-related investments, grants to nonprofit organizations, and conducting such other activities as determined by the Corporation's Board of Directors.
Activities or mission (Part I)
The organization's mission is to support innovations and reforms to improve public and private K-12 education for the benefit of all students.
-
To make education impact and social impact investments in enterprises to support education innovation for K-12 public and private schools. Education impact investments are equity or debt investments in enterprises producing innovative materials, curricula, models, systems, technologies and other items designed to improve K-12 education by creating and expanding methods, products, services and opportunities to help what students learn, where they learn and how they learn.
Expenses $5,344,462
As filed on the 2022 return.
Listed in Part VII
-
Buddy D Philpot
DIRECTOR, PRESIDENT, TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
Eliza EricksonELIZA ERICKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Erron SmithERRON SMITH
DIRECTOR FROM 01/01/2022 - 10/15/2022; SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
A-Street Ventures LP
Related · Investment Fund · DE · 80% owned · share of income -$4,908,913 · share of assets $129,951,667
Directly controlled by WPS2 Fund
-
ASV GM 2022 LLC
Related · INVESTMENTS · DE · 100% owned · share of income -$338,244 · share of assets $76,064,747
Directly controlled by WPS2 Fund
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 12 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202302859349300910
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