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Wolcott Foundation INC FY2020 filing

Tax-deductible

Lansdale, PA501(c)(3)Education EIN 23-6253965Revenue $395K in FY2020

On file with the IRSwolcottfoundation.com210 S Broad St, 19446-3817 · Lansdale, PATax-exempt since Mar 1962Publicly supported charity — 170(b)(1)(A)(vi)

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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.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $72K a year · 19% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Plus $4.6M in investments, Pt X · Ln 11–13
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $39K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$323K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$395K
Spent
$343K
To programs
85%
Net assets
$5.1M
By yearFY2020–FY2025
Revenue
$395K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$395K
FY2021$956K
FY2022$519K
FY2023$192K
FY2024$41K
FY2025$174K
Expenses
$343K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$343K
FY2021$410K
FY2022$566K
FY2023$209K
FY2024$166K
FY2025$152K
Net assets
$5.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$5.1M
FY2021$5.9M
FY2022$6.6M
FY2023$5.9M
FY2024$2.2M
FY2025$1.8M

From the FY2020 Form 990 (year ending April 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1962.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $290K Management & general 15% · $52K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Michael E Clark
Chairman/Trustee
$0Pt VII · Sec A
Ercil Eschbach
Vice Chairman/Trustee
$0Pt VII · Sec A
Randy Spaulding
Secretary/Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wolcott Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds scholars for government and world affairs policy roles to preserve a free society.

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Provided by the organization

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1 program · $290K · in their own filed words · FY2019
01

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.

$290Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Collins & Thelma Posey Fdn 0291369FY2024$39K
Total grants receivedfrom 1 funder$39K
Grants paid · 4 grants · $785K · 2021–2024
Unitemized GrantFY2024$98,533
Unitemized GrantFY2023$82,045
Unitemized GrantFY2022$129,255
Unitemized GrantFY2021$475,295

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$395K
Ln 12
Investment incomeLn 3$340K
Gifts and grantsLn 1h$52K
Other incomeLn 4–11$2K
Money outPt IX
$343K
Ln 25
Programscol B$290K
Managementcol C$52K
Owns and owesPt X
$5.1M
net assets · Ln 32
Cash and savingsLn 1–2$176K
Total assetsLn 16$5.4M
LiabilitiesLn 26$323K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$52K
Investment incomeLn 3$340K
Other incomeLn 4–11$2K
Gains on assetsLn 7$25K
Total revenueLn 12$395K
Assets in detailPt X, end of year
CashLn 1$176K
Cash and savings togetherLn 1–2$176K
InvestmentsLn 11–13$4.6M
Other assetsLn 15$700K
Total assetsLn 16$5.4M
LiabilitiesLn 26$323K
Net assetsLn 32$5.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderApril
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$94K$176K
InvestmentsLn 11–13$4.3M$4.6M
Total assetsLn 16$5.2M$5.4M
LiabilitiesLn 26$149K$323K
Net assetsLn 32$5.1M$5.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$288K$288K
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$2K$2K
Advertising and promotionLn 12$2K$2K
TravelLn 17$21K$21K
Conferences, conventions and meetingsLn 19$6K$6K
InterestLn 20$13K$13K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$765$765
Total functional expensesLn 25$343K$290K$52K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $174K$152K$21K$1.8M 990 PDF
FY2024 $41K$166K−$125K$2.2M 990 PDF
FY2023 $192K$209K−$17K$5.9M 990 PDF
FY2022 $519K$566K−$48K$6.6M 990 PDF
FY2021 $956K$410K$546K$5.9M 990 PDF
FY2020 Viewing $395K$343K$52K$5.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $394,513 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $29,608$51,850
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $256,911$340,422
I-11 Other revenuePrior year $1,466$2,241
I-12 Total revenuePrior year $287,985$394,513
I-13 Grants and similar amounts paidPrior year $201,373$288,280
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $79,991$54,286
I-18 Total expensesPrior year $281,364$342,566
I-19 Revenue less expensesPrior year $6,621$51,947
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $394,513 across 7 lines filed
VIII-1b Membership dues$1,016
VIII-1f All other contributions, gifts and grants$50,834
VIII-1h Total contributions, gifts and grants$51,850
VIII-3 Investment incomeExcluded from tax $315,786$315,786
VIII-7 Net gain or loss on sales of assetsExcluded from tax $24,636$24,636
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2,241$2,241
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $342,663$394,513
Part IX · Statement of functional expenses $342,566 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $288,280$288,280
IX-11c Accounting feesManagement $9,000$9,000
IX-11f Investment management feesManagement $1,889$1,889
IX-12 Advertising and promotionPrograms $1,914$1,914
IX-17 TravelManagement $20,546$20,546
IX-19 Conferences, conventions and meetingsManagement $5,529$5,529
IX-20 InterestManagement $12,671$12,671
IX-23 InsuranceManagement $1,972$1,972
IX-24 Other expenses (24a–d)Management $765$765
IX-25 Total functional expensesPrograms $290,194 · Management $52,372 · Fundraising $0$342,566
Part X · Balance sheet $5,430,209 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $93,546$175,850
X-11 Publicly traded securitiesStart of year $4,315,455$4,554,537
X-15 Other assetsStart of year $818,378$699,822
X-16 Total assetsStart of year $5,228,159$5,430,209
X-25 Other liabilitiesStart of year $0$323,437
X-26 Total liabilitiesStart of year $149,265$323,437
X-27 Net assets without donor restrictionsStart of year $325,128$145,591
X-28 Net assets with donor restrictionsStart of year $4,753,766$4,961,181
X-32 Total net assets or fund balancesStart of year $5,078,894$5,106,772
X-33 Total liabilities and net assetsStart of year $5,228,159$5,430,209
Part XI · Reconciliation of net assets $5,106,772 net assets at year end
XI-1 Total revenue$394,513
XI-2 Total expenses$342,566
XI-3 Revenue less expenses$51,947
XI-4 Net assets at start of year$5,078,894
XI-5 Net unrealized gains (losses) on investments−$443,634
XI-8 Prior period adjustments$419,565
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,106,772

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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