Way Foundation Inc
- Assets
- $24.8m
- Revenue
- $5.8m
- Investments
- $22.9m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 08/2018
- Data as of
- 12/2023
- 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 12/2023, Way Foundation Inc generated $5.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.9%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Way Foundation Inc has awarded 138 individual grants totaling $7,389,188. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Adornetto Dir, VP | 1 | $0 | |
Michael Adornetto Dir, Treas | 1 | $0 | |
Susan Rupp Member-At-Large | 1 | $0 | |
Amy Yelland Dir, Sec | 1 | $0 | |
Steven Yelland Dir, Pres | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Cws Group | 12/30/23 | $82,105 |
Foundation Source | 12/30/23 | $67,543 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,342,559 |
| Interest on Savings | $107,231 |
| Dividends & Interest | $443,183 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $946,277 |
| Capital Gain Net Income | $931,587 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $100 |
| Total Revenue | $5,839,350 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,578 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $67,991 |
| Total operating and administrative expenses | $158,674 |
| Contributions, gifts, grants paid | $1,148,000 |
| Total expenses and disbursements | $1,306,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,873,542 |
| Net Accounts receivable | $1,061 |
| 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 | $2,154,961 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $24,810,004 |
| 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 $1,148,000 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
ACCOUNTABILITY FOR LIFE PURPOSE: FUNDING FOR PART-TIME FACILITIES COORDINATOR | $25,000 |
BOY SCOUTS OF AMERICA PURPOSE: BATTLEFIELD LUNCHEON | $15,000 |
CAL RIPKEN SR FOUNDATION INC PURPOSE: COMMUNITY ENHANCEMENT PROJECT AT THE SPRING GROVE YMCA IN HANOVER, PA | $200,000 |
CHASING THE RAINBOWS PURPOSE: OPERATING EXPENSES TO SERVICE OUR COMMUNITY NEEDS | $25,000 |
EICHELBERGER PERFORMING ARTS CENTER PURPOSE: SEATING FOR THE HISTORIC EICHELBERGER PERFORMING ARTS CENTER | $10,000 |
EICHELBERGER PERFORMING ARTS CENTER PURPOSE: FOREVER EICH ENDOWMENT CAMPAIGN | $50,000 |