Wolcott Foundation Inc

Organization Overview

Wolcott Foundation Inc is located in Lansdale, PA. The organization was established in 1962. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wolcott Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 04/2023, Wolcott Foundation Inc generated $191.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $208.9k during the year ending 04/2023. As we would expect to see with falling revenues, expenses have declined by (15.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

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.


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.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Clark
Chairman
$0
Stanley Gardner
Vice Chairma
$0
Roger Hansen
Trustee
$0
Robert L Morton
Treasurer
$0
William Wilkinson
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$34,933
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$34,933
Total Program Service Revenue$0
Investment income $335,113
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$178,233
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $191,813

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