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Nonprofiteer
← WSWA EDUCATIONAL FOUNDATION INC

Form 990 for tax year 2022

Filed by WSWA EDUCATIONAL FOUNDATION INC.

Totals

Total revenue
$90,367
Total expenses
$203,090
Contributions and grants received
$82,676
Grants paid
$126,000
Program service revenue
$0
Investment income
$7,691
Other revenue
$0
Total assets, end of year
$1,031,323
Total liabilities, end of year
$70,340
Net assets or fund balances, end of year
$960,983
Program services expenses (Part IX)
$203,090
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$203,090

Program services were 100.0% 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

    $82,676

  • 3 · Investment income

    total $7,691 · excluded $7,691

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $126,000 · program services $126,000

  • 11g · Fees: other

    total $75,000 · program services $75,000

  • 13 · Office expenses

    total $300 · program services $300

  • 14 · Information technology

    total $990 · program services $990

  • 19 · Conferences, conventions and meetings

    total $800 · program services $800

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,072,580 · end of year $1,031,323

  • 4 · Accounts receivable

    beginning of year $4,464 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $70,340

  • 27 · Net assets without donor restrictions

    beginning of year $1,077,044 · end of year $960,983

Mission and programs · 2022

Mission

TO SUPPORT EDUCATION, INDUSTRY RESEARCH, AND RESPONSIBLE ALCOHOL CONSUMPTION.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $203,090 · Grants $126,000

As filed on the 2022 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • MICHELLE KORSMO

    SECRETARY - UNTIL 04/22

    Total calculated
    $596,040
    From this org
    $0
    From related orgs
    $515,382
    Other
    $80,658
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $315,382 related
    Bonus
    $0 + $200,000 related
    Other
    $0
    Deferred
    $0 + $67,850 related
    Nontaxable benefits
    $0 + $12,808 related
    Filer's total
    $0 + $596,040 related

  • FRANCIS CREIGHTON

    SECRETARY - AS OF 11/22

    Total calculated
    $191,131
    From this org
    $0
    From related orgs
    $184,615
    Other
    $6,516
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $34,615 related
    Bonus
    $0 + $150,000 related
    Other
    $0
    Deferred
    $0 + $5,538 related
    Nontaxable benefits
    $0 + $978 related
    Filer's total
    $0 + $191,131 related

  • ROBERT LIPMAN

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • STEVEN BECKER

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • BOBBY HARMELIN

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • JAY COLSTON III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STAN HASTINGS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • RICHARD LEVENTHAL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • CHARLES MERINOFF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE FOUNDATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF THE WINE & SPIRITS WHOLESALERS OF AMERICA, INC., A RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(6). THE ASSOCIATION'S EXECUTIVE COMMITTEE ANNUALLY REVIEWS COMPENSATION FOR TOP MANAGEMENT OFFICIALS. THE ASSOCIATION REVIEWS RELEVANT BENCHMARKING SURVEYS OF COMPARABLE JOBS BOTH WITHIN AND OUTSIDE THE INDUSTRY IN THE WASHINGTON, D.C. AREA.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
21 September 2023
IRS schema version
2022v5.0
Source object
202332759349301228

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