2018-02-17T12:10:56-06:00 2017-04-30 231380332 KIMMEL LORAH ASSOCIATES CPA'S LLP 400 CRESSON BLVD PO BOX 979 OAKS PA 19456 990 2016-05-01 236253965 THE WOLCOTT FOUNDATION INC WOLC 2153683121 210 SOUTH BROAD STREET LANSDALE PA 19446 ROBERT L MORTON TREASURER 2153683121 2018-02-09 1 ROBERT STEVENSON CPA P00018843 6106660450 74.95.179.177 2018-02-09 12:01:27 ES P B48677E00B1C1AAE73B9721F5DE9D6795BA46BA1 B48677E00B1C1AAE73B9721F5DE9D6795BA46BA1 2016 2021-01-29 14:40:06Z ROBERT L MORTON 210 S BROAD ST LANSDALE PA 19446 3633592 0 X WWW.WOLCOTTFOUNDATION.COM X 1952 MO 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. 8 8 0 0 0 0 88064 35146 0 0 205324 398148 0 0 293388 433294 741458 682994 0 0 0 0 0 0 0 47300 56745 788758 739739 -495370 -306445 4352445 5187512 150701 151302 4201744 5036210 THE FOUNDATION 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. 0 0 683335 682994 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. 683335 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 1 1 0 1 1 0 0 1 0 0 0 0 0 0 X ROBERT L MORTON TREASURER 2153683121 210 S BROAD ST LANSDALE PA 19446 X MALCOLM S WHITE CHAIRMAN 10.00 X X 0 0 0 DONALD P GARRIDO VICE CHAIRMAN 5.00 X X 0 0 0 ROBERT L MORTON TREASURER/TRUSTEE 15.00 X X 0 0 0 WILIAM MIER SECRETARY 5.00 X X 0 0 0 ERCIL ESCHBACH TRUSTEE 5.00 X 0 0 0 STANLEY A GARDNER TRUSTEE 5.00 X 0 0 0 MICHAEL E CLARK TRUSTEE 5.00 X 0 0 0 MERVYN J HARRIS TRUSTEE 5.00 X 0 0 0 0 0 0 0 0 0 0 0 35146 35146 295850 295850 3302596 3200298 102298 102298 102298 433294 0 0 398148 682994 682994 8350 8350 14048 14048 341 341 1400 1400 1200 1200 27085 27085 2113 2113 OTHER ADMINISTRATIVE EX 1107 1107 TRUSTEE EXPENSE 1051 1051 POSTAGE 50 50 739739 683335 56404 0 -28115 151654 780 780 -666387 0 4313677 4255543 732490 779535 4352445 5187512 150701 151302 150701 151302 X -266593 567873 4468337 4468337 4201744 5036210 4352445 5187512 -306445 -88365 1229277 0 X X 0 0 0 X 353387 99109 242149 88064 35146 817855 353387 99109 242149 88064 35146 817855 817855 230138 309133 397390 408972 295850 1641483 2459338 0.33260 0.33020 X THE FOUNDATION CONTINUOUSLY RECEIVES CONTRIBUTIONS FROM THE GENERAL PUBLIC THROUGH THE FELLOWSHIP FUND AND THE ENDOWMENT FUND. THEY ALSO CONTINUE TO RECEIVE PUBLIC CONTRIBUTIONS FROM THE WITT AND POSEY TRUSTS. THE FOUNDATION IS MANAGED BY A GOVERNING BOARD WHICH REPRESENTS THE BROAD INTERESTS OF THE GENERAL PUBLIC BY GRANTING STUDENT FELLOWSHIPS AND LOANS TO QUALIFIED SCHOLARS. THESE STUDENTS RECEIVE TUITION LOAN WAIVERS WHEN PERFORMING GOVERNMENTAL OR RELATED SERVICES AS APPROVED BY THE BOARD OF TRUSTEES. 0 0 4468337 12035 -12035 4468337 4550045 64268 -145976 4468337 4550045 4550045 4528793 13721 7531 4550045 4020211 12439 496143 4528793 0 0 0 INTEREST RECEIVABLE 19500 BENEFICIAL INTEREST IN CHARITABLE TRUST 760035 779535 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE PERMANENTLY RESTRICTED TO INVESTMENT IN PERPETUITY; THE INCOME FROM WHICH IS PRIMARILY EXPENDABLE TO SUPPORT THE OPERATIONS OF THE FOUNDATION. 1 STUDENT FELLOWSHIPS-GRADUATE STUDENTS AT GEORGE WASHINGTON UNIVERSITY 14 682994 BOOK PART I, LINE 2: THE FOUNDATION'S BOARD OF TRUSTEES REVIEWS ALL APPLICATIONS FOR STUDENT FELLOWSHIPS AND APPROVES THE GRANTING OF FELLOWSHIPS BASED ON CERTAIN SELECTION CRITERIA AND AVAILABILITY OF FUNDS. THE FOUNDATION GRANTS STUDENT FELLOWSHIPS TO QUALIFIED STUDENTS ATTENDING GEORGE WASHINGTON UNIVERSITY (GWU) GRADUATE SCHOOL. SUCH STUDENT FELLOWSHIPS ARE INITIALLY RECORDED AS STUDENTS' ACCOUNTS RECEIVABLE (LOANS) WHILE ATTENDING GWU. UPON GRADUATION, 25% IF EACH STUDENTS'S GROSS STUDENT FELLOWSHIP LOANS ARE WAIVED (GRANTED) FOR EACH YEAR SUCH STUDENT PERFORMS GOVERNMENTAL OR RELATED SERVCIE AS APPROVED BY THE TRUSTEES. FORM 990, PART VI, SECTION A, LINE 6 SEE NAMES AND TITLES ON PART VII OF THIS FORM 990 ON PAGE 7. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE GOVERNING BODY CONSISTS OF FOUR TRUSTEES AND FOUR OFFICERS WHO ARE ELECTED BY THE GENERAL MEMBERSHIP OF THE FOUNDATION AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND REQUIRED SCHEDULES ARE REVIEWED AND APPROVED BY THE TREASURER AND OTHER OFFICERS, AS APPLICABLE. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, ANYONE MAY REVIEW THE FOUNDATION'S GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS BY CONTACTING THE FOUNDATION'S TREASURER, ROBERT L MORTON, C/O 210 S. BROAD ST., LANSDALE, PA 19446 DURING NORMAL BUSINESS HOURS. FORM 990, PART XII, LINE 1: THE BOARD OF TRUSTEES, EFFECTIVE AS OF 5/1/16, MADE A CHANGE IN METHOD OF ACCOUNTING WHICH EFFECT THE THE TUITION GRANT AND CORRESPONDING GRANT CREDITS. UNDER THE OLD METHOD, TUITION WOULD BE RECORDED AS A RECEIVABLE WHEN THE GRANT WAS MADE TO THE SCHOOL. THE AMOUNT WOULD SIT ON THE BOOKS FOR THE PERIOD BETWEEN WHEN THE INDIVIDUAL GRADUATES AND WHEN THEY MET THE REQUIREMENT FOR FORGIVENESS BY REMAINING EMPLOYED BY THE GOVERNMENT. THE CHANGE REMOVES THE RECEIVABLE AND CORRESPONDING CREDIT FOR WORK PERFORMED. THE TUITION WILL BE TREATED AS AN EXPENSE IN THE FUTURE AND IN THE EVENT THAT THE FORGIVENESS QUALIFICATIONS ARE NOT MET, AND PAYMENTS MUST BE MADE, THE PAYMENTS WILL BE CONSIDERED PROGRAM REVENUE.