Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $1,500,000

• 3 · Investment income

  total $1,484,940 · unrelated business -$13,059 · excluded $1,497,999

• 7a · Gross sales of assets other than inventory

  securities $6,696,284

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

  securities $6,687,607

• 7c · Gain or loss

  securities $8,677

• 7d · Net gain or loss

  total $8,677 · excluded $8,677

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $50,000 · program services $50,000

• 11b · Fees: legal

  total $37,909 · management and general $37,909

• 11c · Fees: accounting

  total $21,500 · management and general $21,500

• 11f · Fees: investment management

  total $203,833 · management and general $203,833

• 11g · Fees: other

  total $541 · management and general $541

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,433,624 · end of year $1,707,891

• 11 · Investments: publicly traded securities

  beginning of year $45,215,269 · end of year $46,422,794

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $46,648,893 · end of year $48,130,685

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING ALLOWANCE FOUNDATION OFFICER AND DIRECTOR ROBERT MENZI RECEIVES A TAXABLE HOUSING ALLOWANCE WHICH IS INCLUDED IN OTHER REPORTABLE COMPENSATION IN PART II, COLUMN (B)(III).

PART I, LINE 4B

SCHEDULE J, PART I, LINE 4B NONQUALIFIED RETIREMENT PLAN FOUNDATION DIRECTORS ROBERT MENZI, CHRISTOPHER J. MCKENZIE AND LAURA STOLZENTHALER WERE EMPLOYEED BY WCS, A RELATED ORGANIZATION, IN 2023. WCS HAS ESTABLISHED SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLANS TO PROVIDE RETIREMENT BENEFITS TO EXECUTIVES WHICH WOULD OTHERWISE BE LOST DUE TO STATUTORY LIMITATIONS AND FOR THE PURPOSE OF RETAINING TALENT. FOR RETENTION PURPOSES, THESE PLANS ARE PAYABLE ON VARIOUS PRE-DETERMINED VESTING DATES SET FOR EACH PARTICIPANT. PAYMENT IS SUBJECT TO THE ACHIEVEMENT OF CERTAIN SERVICE REQUIREMENTS PROVIDED THAT THE INDIVIDUAL IS EMPLOYED BY WCS THROUGH THE VESTING DATE OR IN CERTAIN OTHER LIMITED CIRCUMSTANCES. ANY PAYMENTS FOR COMPENSATION UNDER MULTI-YEAR SUPPLEMENTAL NON-QUALIFIED COMPENSATION PLANS WHICH VESTED ARE REPORTED IN COLUMN B(III). THESE PAYMENTS WERE REPORTED AS TAXABLE INCOME ON THE EMPLOYEE'S W-2 FOR 2023. FOR LAURA STOLZENTHALER, THE PAYMENT WAS $31,736 OF WHICH $31,736 WAS REPORTED IN PRIOR YEARS. FURTHER, THE ESTIMATED ACCRUALS NOT YET VESTED ARE A COMPONENT OF DEFERRED COMPENSATION REPORTED IN COLUMN C. FOR ROBERT MENZI, THE 2023 DEFERRED AMOUNT WAS $94,096. THE DEFERRED AMOUNT FOR CHRISTOPHER J. MCKENZIE WAS $33,488. THE DEFERRED AMOUNT FOR LAURA STOLZENTHALER WAS $18,023. COLUMN C ALSO INCLUDES THE ESTIMATED PRESENT VALUE OF ACCRUED QUALIFIED PENSION BENEFIT EARNED IN CALENDAR YEAR 2023 FOR EACH INDIVIDUAL.

PART I, LINE 7

SCHEDULE J, PART I, LINE 7 NON-FIXED PAYMENT ROBERT MENZI RECEIVED NON-FIXED PAYMENTS IN 2023. THESE WERE ONE-TIME DISCRETIONARY BONUSES IN RECOGNITION OF EXTRAORDINARY ACCOMPLISHMENTS DURING THE PRIOR YEAR. THE PAYMENTS WERE REPORTED AS TAXABLE INCOME ON THE EMPLOYEE'S 2023 W-2.

SCHEDULE J, PART II

ROBERT MENZI, FOUNDATION OFFICER & DIRECTOR; CHRISTOPHER J. MCKENZIE, FOUNDATION OFFICER & DIRECTOR; AND LAURA STOLZENTHALER, FOUNDATION DIRECTOR, WERE EMPLOYED BY WCS, A RELATED ORGANIZATION, IN 2023. WCS HAS COMPENSATION SETTING POLICIES AND PROCEDURES IN PLACE FOR EACH INDIVIDUAL WHICH MEET THE REBUTTABLE PRESUMPTION OF REASONABLENESS.