Way Foundation Inc
- Assets
- $21.0m
- Revenue
- $3.5m
- Investments
- $20.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 08/2018
- Data as of
- 12/2021
- EIN
- 82-3325659
Organization Overview
Way Foundation Inc is located in Wilmington, DE. The organization was established in 2018. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Way 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 12/2021, Way Foundation Inc generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (37.1%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Way Foundation Inc has awarded 80 individual grants totaling $5,091,188. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Adornetto Dir, VP | 1 | $0 | |
Susan Rupp Member-At-Large | 1 | $0 | |
Michael Adornetto Dir, Treas | 1 | $0 | |
Amy Yelland Dir, Sec | 1 | $0 | |
Steven Yelland Dir, Pres | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/21 | $72,945 |
Foundation Source | 12/30/21 | $55,503 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $660,000 |
| Interest on Savings | $1,665 |
| Dividends & Interest | $403,832 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,405,930 |
| Capital Gain Net Income | $2,521,115 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$20,882 |
| Total Revenue | $3,450,545 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1 |
| Taxes | $35,514 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $65,334 |
| Total operating and administrative expenses | $188,032 |
| Contributions, gifts, grants paid | $2,135,428 |
| Total expenses and disbursements | $2,323,460 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $996,446 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,016,176 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $21,039,784 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Way Foundation Inc has awarded $2,135,428 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
Williamsport, MD PURPOSE: CULTURAL ARTS AND WELLNESS CENTER | $500,000 |
Baltimore, MD PURPOSE: DIAMOND CAMPAIGN | $300,000 |
Chicago, IL PURPOSE: GENERAL & UNRESTRICTED | $250,000 |
Baltimore, MD PURPOSE: RIPKEN FOUNDATION PROGRAMS | $150,000 |
Newark, DE PURPOSE: GENERAL & UNRESTRICTED | $150,000 |
Newark, DE PURPOSE: DELAWARE FIRST CAMPAIGN | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
F M Kirby Foundation Inc Morristown, NJ | $303,494,554 | $34,334,700 |
E Rhodes And Leona B Carpenter Foundation Radnor, PA | $250,926,779 | $43,460,229 |
Victoria Foundation Inc Newark, NJ | $335,393,283 | $24,137,337 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |