Overview
What is The Wolcott Foundation Inc?
The Wolcott Foundation Inc, situated in Lansdale, Pennsylvania, is a nonprofit organization with a significant mission. It primarily supports students from George Washington University (GWU) by offering fellowships and loans. These financial aids, initially recorded as student loans, are partially waived – 25% for each year a student serves in governmental or related positions, approved by the trustees, upon graduation. The foundation's purpose is to prepare qualified scholars for future policy-making roles in government and world affairs, thereby preserving a free society for future generations. The Wolcott Foundation's initiatives contribute to the educational and professional development of promising individuals.
Official website here: www.wolcottfoundation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Star Rating
The Wolcott Foundation Inc has received a 76% overall score from Charity Navigator, which translates to a Three-Star rating. This rating is derived entirely from its Accountability & Finance beacon, indicating a strong emphasis on financial management and transparency. The organization scores particularly well in areas such as having a fully independent board and a favorable liabilities-to-assets ratio.
The foundation's strengths are highlighted by its perfect score on several metrics, including independent board members and program expense ratio, where it allocates 86.62% of its expenses directly to its programs. This suggests a commitment to using funds efficiently for its mission. Additionally, the organization maintains clear documentation, as evidenced by the availability of board meeting minutes.
However, there are notable weaknesses as well. The absence of a conflict of interest policy, whistleblower policy, and a document retention and destruction policy raises concerns about governance practices. These shortcomings could affect overall accountability, despite the foundation's strong performance in other areas.
This AI summary has been generated from information found on Charity Navigator.
Is The Wolcott Foundation Inc legitimate?
The Wolcott Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Wolcott Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
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Other Salaries and Wages: $0
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Official website here: www.wolcottfoundation.com
What is the mission statement of The Wolcott Foundation Inc?
The Wolcott Foundation's mission is to support the preparation of qualified scholars for future roles in government and international affairs. This is accomplished by granting fellowships and student loans. The primary objective is to preserve a free society for future generations. The foundation provides financial aid to students at George Washington University (GWU), with a portion of the student loans waived for each year a graduate serves in a governmental or related position, as approved by the trustees.
Official website here: www.wolcottfoundation.com
What is the revenue of The Wolcott Foundation Inc?
The Wolcott Foundation Inc's revenue in 2024 was $41,108.
Official website here: www.wolcottfoundation.com
Who are the executives of The Wolcott Foundation Inc and what are their salaries?
Here are 5 key members and their salaries:
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Official website here: www.wolcottfoundation.com
Where can I find the form 990 for The Wolcott Foundation Inc?
The Wolcott Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.wolcottfoundation.com
Learn more at the official website: www.wolcottfoundation.com
Mission Statement of The Wolcott Foundation Inc
The Wolcott Foundation Inc, a renowned organization, is dedicated to preparing qualified scholars for future policy-making positions in government and world affairs. To achieve this mission, the foundation provides fellowships and student loans to students of George Washington University (GWU). During their time at GWU, these student loans are recorded as accounts receivable. Upon graduation, the foundation waives 25% of each student's gross student fellowship loans for each year they have served in governmental or related positions, as approved by the trustees. By doing so, The Wolcott Foundation Inc aims to preserve a free society for future generations, ensuring that qualified individuals can contribute to policy-making processes in government and international affairs.
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Impact
July, 2024
The impact of The Wolcott Foundation Inc is focused on preparing qualified scholars for future policy-making positions in government and world affairs. By granting fellowships and student loans to deserving students at George Washington University, the foundation is investing in the education and development of individuals who will contribute to preserving a free society for future generations. Through its support, the foundation is playing a role in shaping the future leaders who will work towards positive change and progress in governmental and related fields.
This information is meant to be a general summary of The Wolcott Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $122,235
- Gross Receipts: $690,506
Assets and Liabilities:
- Total Assets: $6,566,658
- Total Liabilities: $0
- Net Assets: $6,566,658
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Organization Details
Founding Year
1952
Principal Officer
Michael Clark
Website
www.wolcottfoundation.comNTEE Category
Code: B820 - Education
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