﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2019v5.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2020-05-04T11:58:01-07:00</ReturnTs>
    <TaxPeriodEndDt>2019-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Tapia &amp; Huckabay PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>PO Box 38</AddressLine1Txt>
        <CityNm>Vergennes</CityNm>
        <StateAbbreviationCd>VT</StateAbbreviationCd>
        <ZIPCd>05491</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990EZ</ReturnTypeCd>
    <TaxPeriodBeginDt>2019-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>462483183</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>White Swan Foundation Inc</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>WHIT</BusinessNameControlTxt>
      <PhoneNum>8023185450</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO Box 1112</AddressLine1Txt>
        <CityNm>Richmond</CityNm>
        <StateAbbreviationCd>VT</StateAbbreviationCd>
        <ZIPCd>05477</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Andrew Subin</PersonNm>
      <PersonTitleTxt>President</PersonTitleTxt>
      <PhoneNum>8023185450</PhoneNum>
      <SignatureDt>2020-04-30</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>William S Huckabay CPA</PreparerPersonNm>
      <PTIN>P00154308</PTIN>
      <PhoneNum>8028707086</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2019</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="4">
    <IRS990EZ documentId="IRS990EZ-01" referenceDocumentId="IRS990ScheduleO-01" referenceDocumentName="IRS990ScheduleO ReasonableCauseExplanation TransfersPersonalBenefitsContractsDeclaration">
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <WebsiteAddressTxt>pennywisefoundation.org</WebsiteAddressTxt>
      <Organization501c3Ind referenceDocumentId="IRS990ScheduleA-01" referenceDocumentName="IRS990ScheduleA">X</Organization501c3Ind>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <GrossReceiptsAmt>168849</GrossReceiptsAmt>
      <InfoInScheduleOPartIInd>X</InfoInScheduleOPartIInd>
      <ContributionsGiftsGrantsEtcAmt>168624</ContributionsGiftsGrantsEtcAmt>
      <ProgramServiceRevenueAmt>0</ProgramServiceRevenueAmt>
      <MembershipDuesAmt>0</MembershipDuesAmt>
      <InvestmentIncomeAmt>225</InvestmentIncomeAmt>
      <CostOrOtherBasisExpenseSaleAmt>0</CostOrOtherBasisExpenseSaleAmt>
      <GainOrLossFromSaleOfAssetsAmt>0</GainOrLossFromSaleOfAssetsAmt>
      <FundraisingGrossIncomeAmt>0</FundraisingGrossIncomeAmt>
      <SpecialEventsDirectExpensesAmt>0</SpecialEventsDirectExpensesAmt>
      <SpecialEventsNetIncomeLossAmt>0</SpecialEventsNetIncomeLossAmt>
      <CostOfGoodsSoldAmt>0</CostOfGoodsSoldAmt>
      <GrossProfitLossSlsOfInvntryAmt>0</GrossProfitLossSlsOfInvntryAmt>
      <TotalRevenueAmt>168849</TotalRevenueAmt>
      <GrantsAndSimilarAmountsPaidAmt>43034</GrantsAndSimilarAmountsPaidAmt>
      <BenefitsPaidToOrForMembersAmt>0</BenefitsPaidToOrForMembersAmt>
      <SalariesOtherCompEmplBnftAmt>0</SalariesOtherCompEmplBnftAmt>
      <FeesAndOtherPymtToIndCntrctAmt>25116</FeesAndOtherPymtToIndCntrctAmt>
      <OccupancyRentUtltsAndMaintAmt>3606</OccupancyRentUtltsAndMaintAmt>
      <PrintingPublicationsPostageAmt>39</PrintingPublicationsPostageAmt>
      <OtherExpensesTotalAmt>96149</OtherExpensesTotalAmt>
      <TotalExpensesAmt>167944</TotalExpensesAmt>
      <ExcessOrDeficitForYearAmt>905</ExcessOrDeficitForYearAmt>
      <NetAssetsOrFundBalancesBOYAmt>44921</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>45826</NetAssetsOrFundBalancesEOYAmt>
      <CashSavingsAndInvestmentsGrp>
        <BOYAmt>44921</BOYAmt>
        <EOYAmt>47455</EOYAmt>
      </CashSavingsAndInvestmentsGrp>
      <Form990TotalAssetsGrp>
        <BOYAmt>44921</BOYAmt>
        <EOYAmt>47455</EOYAmt>
      </Form990TotalAssetsGrp>
      <SumOfTotalLiabilitiesGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>1629</EOYAmt>
      </SumOfTotalLiabilitiesGrp>
      <NetAssetsOrFundBalancesGrp>
        <BOYAmt>44921</BOYAmt>
        <EOYAmt>45826</EOYAmt>
      </NetAssetsOrFundBalancesGrp>
      <PrimaryExemptPurposeTxt>Doing business as the Pennywise Foundation, the White Swan Foundation supports nonprofit organizations that leverage limited resources to generate sustainable responses to critical problems confronting the global community.</PrimaryExemptPurposeTxt>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>Granted funds to seven organizations who demonstrated exceptional ability to deliver sustainableservice interventions. The grantees address an array of critical issues: the environment,public health, and justice reform. Collectively their programs impact thousands of individuals.</DescriptionProgramSrvcAccomTxt>
        <GrantsAndAllocationsAmt>36950</GrantsAndAllocationsAmt>
        <ProgramServiceExpensesAmt>36990</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>Technical Assistance - Ipatse Futures Project: together with project partners from the U.S. and Brazil,convened in the Amazon's Upper Xingu Region to build a sustainable future for the Kuikuro People.Amazon Hope: Planned and facilitated a conference to protect the people and the environment in the southern Amazon.</DescriptionProgramSrvcAccomTxt>
        <GrantsAndAllocationsAmt>6084</GrantsAndAllocationsAmt>
        <ProgramServiceExpensesAmt>121637</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <TotalProgramServiceExpensesAmt>158627</TotalProgramServiceExpensesAmt>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Andrew Subin</PersonNm>
        <TitleTxt>President</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1.15</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Liz Welch</PersonNm>
        <TitleTxt>Secretary</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>0.60</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Chris Schwerin</PersonNm>
        <TitleTxt>Treasurer</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>0.60</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Laura Subin</PersonNm>
        <TitleTxt>Executive Director</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>Elizabeth Subin</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>20.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
        <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
        <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
      <ChgMadeToOrgnzngDocNotRptInd>false</ChgMadeToOrgnzngDocNotRptInd>
      <OrganizationHadUBIInd>false</OrganizationHadUBIInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
      <DirectIndirectPltclExpendAmt>0</DirectIndirectPltclExpendAmt>
      <Form1120PolFiledInd>false</Form1120PolFiledInd>
      <MadeLoansToFromOfficersInd>false</MadeLoansToFromOfficersInd>
      <InitiationFeesAndCapContriAmt>0</InitiationFeesAndCapContriAmt>
      <GrossReceiptsForPublicUseAmt>0</GrossReceiptsForPublicUseAmt>
      <TaxImposedUnderIRC4911Amt>0</TaxImposedUnderIRC4911Amt>
      <TaxImposedUnderIRC4912Amt>0</TaxImposedUnderIRC4912Amt>
      <TaxImposedUnderIRC4955Amt>0</TaxImposedUnderIRC4955Amt>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <TaxImposedOnOrganizationMgrAmt>0</TaxImposedOnOrganizationMgrAmt>
      <TaxReimbursedByOrganizationAmt>0</TaxReimbursedByOrganizationAmt>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <BooksInCareOfDetail>
        <PersonNm>Laura Subin</PersonNm>
        <USAddress>
          <AddressLine1Txt>165 Oldfield Road</AddressLine1Txt>
          <CityNm>Richmond</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05477</ZIPCd>
        </USAddress>
        <PhoneNum>8023185450</PhoneNum>
      </BooksInCareOfDetail>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <DonorAdvisedFndsInd>false</DonorAdvisedFndsInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <TanningServicesProvidedInd>false</TanningServicesProvidedInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TransactionWithControlEntInd>false</TransactionWithControlEntInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <PartVIOfCompOfHghstPdEmplTxt>NONE</PartVIOfCompOfHghstPdEmplTxt>
      <OtherEmployeePaidOver100kCnt>0</OtherEmployeePaidOver100kCnt>
      <PartVIHghstPdCntrctProfSrvcTxt>NONE</PartVIHghstPdCntrctProfSrvcTxt>
      <CntrctRcvdGreaterThan100KCnt>0</CntrctRcvdGreaterThan100KCnt>
      <FiledScheduleAInd>true</FiledScheduleAInd>
    </IRS990EZ>
    <IRS990ScheduleA documentId="IRS990ScheduleA-01" softwareId="19009670">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <OtherSupportSumAmt>0</OtherSupportSumAmt>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>19403</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>66776</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>54241</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>93460</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>168624</CurrentTaxYearAmt>
        <TotalAmt>402504</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TaxRevLeviedOrgnztnlBnft170Grp>
        <TotalAmt>0</TotalAmt>
      </TaxRevLeviedOrgnztnlBnft170Grp>
      <GovtFurnSrvcFcltsVl170Grp>
        <TotalAmt>0</TotalAmt>
      </GovtFurnSrvcFcltsVl170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>19403</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>66776</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>54241</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>93460</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>168624</CurrentTaxYearAmt>
        <TotalAmt>402504</TotalAmt>
      </TotalCalendarYear170Grp>
      <SubstantialContributorsTotAmt>287543</SubstantialContributorsTotAmt>
      <PublicSupportTotal170Amt>114961</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>146</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>506</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>170</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>188</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>225</CurrentTaxYearAmt>
        <TotalAmt>1235</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <UnrelatedBusinessNetIncm170Grp>
        <TotalAmt>0</TotalAmt>
      </UnrelatedBusinessNetIncm170Grp>
      <OtherIncome170Grp>
        <TotalAmt>0</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>403739</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>0</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.28470</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.14270</PublicSupportPY170Pct>
      <TenPctFactsCrcmstncsTestCYInd>X</TenPctFactsCrcmstncsTestCYInd>
      <PublicSupportTotal509Amt>0</PublicSupportTotal509Amt>
      <PublicSupportCY509Pct>0</PublicSupportCY509Pct>
      <InvestmentIncomeCYPct>0</InvestmentIncomeCYPct>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>Pt II Ln 17a</FormAndLineReferenceDesc>
        <ExplanationTxt>White Swan Foundation, Inc. is a not-for-profit organization whose tax-exempt Section 501(c)(3) status was recognized by the Internal Revenue Service in 2014. Since its inception, the Organization has been conditionally classified as a publicly supported organization (i.e., as a "public charity") as described in Sections 170(b)(1)(A)(vi) and 509(a)(1) of the Internal Revenue Code. Despite the fact that its current level of public support has fallen short of the one-third level of support normally required to qualify as a public charity, the Organization believes itself to continue to qualify as a publicly-supported organization by virtue of the "facts and circumstances" test outlined in Regs. Sec. 1.170A-9(f)(3) in view of its continuing development efforts which are designed to attract more broad-based support for the Organization and to broaden its programmatic outreach. Already, these efforts have been successful in increasing the number of contributors to the Organization, with continued growth in the donor base anticipated in the future. In addition, the Organization's mission is dedicated to supporting nonprofit organizations and initiatives which generate sustainable responses to critical problems confronting the global community and whose programs impact thousands of persons, particularly those living in developing countries and economically disadvantaged communities, traditionally underserved segments of the general public.</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="IRS990ScheduleB-01">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleO documentId="IRS990ScheduleO-01" softwareId="19009670">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Other</FormAndLineReferenceDesc>
        <ExplanationTxt>In 2019, the organization began providing assistance to individuals within the village where programming is focused.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 10</FormAndLineReferenceDesc>
        <ExplanationTxt>Hygienic sanitation solutions in Haiti.; Health &amp; Welfare; Sustainable Organic Integrated Livelihood: 3950 Green Valley Road, Sebastopol, CA, 95472; None, 10000.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 10</FormAndLineReferenceDesc>
        <ExplanationTxt>To support clean water and hygienic sanitation initiatives in Nicaragua.; Health &amp; Welfare; Agua Para La Vida: 2311 Webster Street, Berkeley, CA, 94705; None, 10000.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 10</FormAndLineReferenceDesc>
        <ExplanationTxt>To pay for fees and surcharges for VLA clients living just above the poverty line.; Welfare &amp; Justice; Vermont Legal Aid: 264 North Winooski Avenue, Burlington, VT, 05401; None, 9950.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 10</FormAndLineReferenceDesc>
        <ExplanationTxt>General Support, Various grants &lt;$5,000 each; Welfare; : , , , ; , 7000.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 10</FormAndLineReferenceDesc>
        <ExplanationTxt>Assistance to Individuals in Kuikuro Village: food, generator, repairs to water well.; Welfare; : , , , ; , 6084.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Conferences 85001.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Information technology 707.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Office expenses 1721.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part I, Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Travel 8720.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990EZ, Part II, Line 26</FormAndLineReferenceDesc>
        <ExplanationTxt>Credit card payable 0. 1629.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>