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Nonprofiteer
← WOLCOTT FOUNDATION INC

Form 990 for tax year 2024

Filed by WOLCOTT FOUNDATION INC.

Totals

Total revenue
$173,576
Total expenses
$152,432
Contributions and grants received
$56,273
Grants paid
$98,533
Program service revenue
$0
Investment income
$114,624
Other revenue
$2,679
Total assets, end of year
$1,846,015
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,846,015
Program services expenses (Part IX)
$126,852
Management and general expenses
$25,580
Fundraising expenses
$0
Program service expenses (Part III)
$126,852

Program services were 83.2% 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.

  • 1a · Federated campaigns

    $56,273

  • 3 · Investment income

    total $11,584 · related or exempt $11,584

  • 7a · Gross sales of assets other than inventory

    securities $539,345

  • 7b · Less cost or other basis and sales expenses

    securities $436,305

  • 7c · Gain or loss

    securities $103,040

  • 7d · Net gain or loss

    total $103,040 · related or exempt $103,040

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $2,679 · related or exempt $2,679

  • 11e · Other revenue, total

    $2,679

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $98,533 · program services $98,533

  • 11c · Fees: accounting

    total $4,600 · management and general $4,600

  • 12 · Advertising and promotion

    total $455 · program services $455

  • 13 · Office expenses

    total $551 · management and general $551

  • 17 · Travel

    total $27,864 · program services $27,864

  • 20 · Interest

    total $190 · management and general $190

  • 23 · Insurance

    total $2,374 · management and general $2,374

  • 24a · Other expenses: ADMINISTRATIVE COSTS

    total $10,375 · management and general $10,375

  • 24b · Other expenses: MISCELLANEOUS

    total $7,490 · management and general $7,490

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $140,266 · end of year $59,267

  • 11 · Investments: publicly traded securities

    beginning of year $2,032,416 · end of year $1,786,748

  • 27 · Net assets without donor restrictions

    beginning of year $325,864 · end of year $408,964

  • 28 · Net assets with donor restrictions

    beginning of year $1,846,818 · end of year $1,437,051

Mission and programs · 2024

Mission

THE FOUNDATION ASSISTS IN PREPARING QUALIFIED SCHOLARS FOR FUTURE POLICY MAKING POSITIONS IN GOVERNMENT AND WORLD AFFAIRS THROUGH THE GRANTING OF FELLOWSHIPS AND STUDENT LOANS IN ORDER TO PRESERVE A FREE SOCIETY FOR FUTURE GENERATIONS.

Activities or mission (Part I)

ASSISTS IN PREPARING QUALIFIED SCHOLARS FOR FUTURE POLICY MAKING POSITIONS IN GOVERNMENT AND WORLD AFFAIRS THROUGH THE GRANTING OF FELLOWSHIPS AND STUDENT LOANS IN ORDER TO PRESERVE A FREE SOCIETY FOR FUTURE GENERATIONS.

  • THE FOUNDATION GRANTS STUDENT FELLOWSHIPS AND LOANS TO QUALIFIED STUDENTS OF GEORGE WASHINGTON UNIVERSITY (GWU). THE STUDENT FELLOWSHIPS ARE INITIALLY RECORDED AS STUDENT'S ACCOUNTS RECEIVABLE (STUDENT LOANS) WHILE ATTENDING GWU. UPON GRADUATION 25% OF EACH STUDENT'S GROSS STUDENT FELLOWSHIP LOANS ARE WAIVED FOR EACH YEAR SUCH STUDENT PERFORMED GOVERNMENTAL OR RELATED SERVICE AS APPROVED BY THE TRUSTEES.

    Expenses $126,852 · Grants $98,533

  • THE FOUNDATION GRANTS STUDENT FELLOWSHIPS AND LOANS TO QUALIFIED STUDENTS OF GEORGE WASHINGTON UNIVERSITY (GWU). THE STUDENT FELLOWSHIPS ARE INITIALLY RECORDED AS STUDENT'S ACCOUNTS RECEIVABLE (STUDENT LOANS) WHILE ATTENDING GWU. UPON GRADUATION 25% OF EACH STUDENT'S GROSS STUDENT FELLOWSHIP LOANS ARE WAIVED FOR EACH YEAR SUCH STUDENT PERFORMED GOVERNMENTAL OR RELATED SERVICE AS APPROVED BY THE TRUSTEES.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Clark

    CHAIRMAN

    Total calculated
    $0

  • Matthew D Dupee

    ADMINISTRATO

    Total calculated
    $0

  • Stanley Gardner

    VICE CHAIRMA

    Total calculated
    $0

  • Roger Hansen

    TRUSTEE

    Total calculated
    $0

  • William Wilkinson

    SECRETARY

    Total calculated
    $0

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.

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
2024
Filed
17 November 2025
IRS schema version
2024v5.0
Source object
202503219349323195

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