Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
Way Foundation Inc
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

82-3325659
B Telephone number (see instructions)

(800) 839-1754
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$29,563,377J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 4,342,559
2 Check right arrow.............
3 Interest on savings and temporary cash investments 107,231 107,231  
4 Dividends and interest from securities... 443,183 443,183  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 946,277
b Gross sales price for all assets on line 6a 6,023,907
7 Capital gain net income (from Part IV, line 2)... 931,587
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
100    
12 Total. Add lines 1 through 11........ 5,839,350 1,482,001  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
82,105 82,105    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
8,578 778    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
67,991 1   67,990
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 158,674 82,884   67,990
25 Contributions, gifts, grants paid....... 1,148,000 1,148,000
26 Total expenses and disbursements. Add lines 24 and 25 1,306,674 82,884   1,215,990
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 4,532,676
b Net investment income (if negative, enter -0-) 1,399,117
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 461,070 1,873,542 1,873,542
3 Accounts receivable right arrow1,061
Less: allowance for doubtful accounts right arrow     1,061 1,061
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,280,372 Click to see attachment
List of Attached Documents:
// Content
1,392,981 		1,339,733
b Investments—corporate stock (attach schedule)....... 13,957,720 Click to see attachment
List of Attached Documents:
// Content
17,199,988 		21,457,264
c Investments—corporate bonds (attach schedule)....... 1,469,308 Click to see attachment
List of Attached Documents:
// Content
2,187,471 		2,122,281
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,108,858 Click to see attachment
List of Attached Documents:
// Content
2,154,961 		2,769,496
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 20,277,328 24,810,004 29,563,377
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 20,277,328 24,810,004
29 Total net assets or fund balances (see instructions)..... 20,277,328 24,810,004
30 Total liabilities and net assets/fund balances (see instructions). 20,277,328 24,810,004
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
20,277,328
2
Enter amount from Part I, line 27a .....................
2
4,532,676
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
24,810,004
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
24,810,004
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b BLACKSTONE REAL ESTATE INCOME TRUST, INC CLASS S P 2018-08-28 2023-08-03
c BLACKSTONE REAL ESTATE INCOME TRUST, INC CLASS S P 2018-08-28 2023-09-06
d BLACKSTONE REAL ESTATE INCOME TRUST, INC CLASS S P 2018-08-28 2023-10-04
e BLACKSTONE REAL ESTATE INCOME TRUST, INC CLASS S P 2018-08-28 2023-11-03
BLACKSTONE REAL ESTATE INCOME TRUST, INC CLASS S P   2023-12-05
CARLYLE GLOBAL INFRA OPP FUND ACCESS, L.P P 2020-12-31 2023-02-03
STRATEGIC PARTNERS OFFSHORE VIII (ICAPITAL) L.P P 2020-12-31 2023-05-02
CARLYLE GLOBAL INFRA OPP FUND ACCESS, L.P      
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 4,757,181   4,148,724 608,457
b 253,142   185,435 67,707
c 217,552   157,996 59,556
d 85,137   61,494 23,643
e 117,307   85,195 32,112
60,216   45,478 14,738
257,717   244,747 12,970
275,655   166,001 109,654
      2,750
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       608,457
b       67,707
c       59,556
d       23,643
e       32,112
      14,738
      12,970
      109,654
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 931,587
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 19,448
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 19,448
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 19,448
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 7,374
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 12,500
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 19,874
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 162
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 264
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow264 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowPA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. Click to see attachment
List of Attached Documents:
// Content
...............................
10
Yes
 
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrow  
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Ann Adornetto Dir, VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Michael Adornetto Dir, Treas
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Susan Rupp Member-at-Large
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Amy Yelland Dir, Sec
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Steven Yelland Dir, Pres
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
 
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
THE CWS GROUP Investment Mgmt 82,105
1201 WILLS STREET STE 700
BALTIMORE,MD21231
Foundation Source Administrative 67,543
55 Walls Drive 3rd Fl
Fairfield,CT06824
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
21,554,310
b
Average of monthly cash balances.......................
1b
3,038,492
c
Fair market value of all other assets (see instructions)................
1c
3,402,367
d
Total (add lines 1a, b, and c).........................
1d
27,995,169
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
27,995,169
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
419,928
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
27,575,241
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,378,762
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,378,762
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
19,448
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
19,448
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,359,314
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
1,359,314
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,359,314
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
1,215,990
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,215,990
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 1,359,314
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:2021, 2020, 2019  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020...... 117,196
d From 2021...... 946,272
e From 2022...... 43,608
f Total of lines 3a through e ........ 1,107,076
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,215,990
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount..... 1,215,990
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 143,324 143,324
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 963,752
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		963,752
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021.... 920,144
d Excess from 2022.... 43,608
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
NONE
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Steve Yelland
1030 Wilson Ave
Hanover,PA17331
(610) 927-4550
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS SHOULD BE SUBMITTED IN THE FORM OF A LETTER AND SHOULD CONTAIN A SPECIFIC PROPOSAL. PLEASE VISIT HTTPS://WWW.WAYFOUNDATIONFAMILY.ORG/
cAny submission deadlines:
APPLICATIONS ARE ACCEPTED AT ANY TIME. PLEASE VISIT HTTPS://WWW.WAYFOUNDATIONFAMILY.ORG/
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
GRANTS ARE MADE TO THOSE PUBLIC CHARITIES AND PRIVATE OPERATING FOUNDATIONS DETERMINED FROM TIME TO TIME BY THE BOARD OF DIRECTORS TO BE MOST DESERVING OF THE FINANCIAL SUPPORT
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

ACCOUNTABILITY FOR LIFE

755 VOGELSONG RD
YORK,PA17404 		N/A PC Funding for Part-time Facilities Coordinator 25,000

BOY SCOUTS OF AMERICA

1 BADEN POWELL LN
MECHANICSBURG,PA17050 		N/A PC Battlefield Luncheon 15,000

CAL RIPKEN SR FOUNDATION INC

1427 CLARKVIEW RD STE 100
BALTIMORE,MD21209 		N/A PC Community Enhancement Project at the Spring Grove YMCA in Hanover, PA 200,000

CHASING THE RAINBOWS

765 E MAIN ST
DALLASTOWN,PA17313 		N/A PC Operating Expenses to service our community needs 25,000

EICHELBERGER PERFORMING ARTS CENTER

195 STOCK ST STE 203
HANOVER,PA17331 		N/A PC Seating for the historic Eichelberger Performing Arts center 10,000

EICHELBERGER PERFORMING ARTS CENTER

195 STOCK ST STE 203
HANOVER,PA17331 		N/A PC ForEver Eich Endowment Campaign 50,000

FOOD FIX CAMPAIGN INC

55 E MONROE ST STE 1460
CHICAGO,IL60603 		N/A PC Food Fix Campaign 250,000

FOR THE LOVE OF A VETERAN INC

PO BOX 1238
HANOVER,PA17331 		N/A PC HELPING HEROES HEAL 40,000

GERSTELL ACADEMY INC

10706 BEAVER DAM RD
COCKEYSVILLE,MD21030 		N/A PC Venice K. Paterakis Stadium turf replacement 50,000

HANOVER AREA COUNCIL OF CHURCHES

PO BOX 1561
HANOVER,PA17331 		N/A PC Hanover Area Council of Churches 40,000

HANOVER AREA HISTORICAL SOCIETY

PO BOX 305
HANOVER,PA17331 		N/A PC HAHS NEW SPACE FOR FACILITIES 25,000

HANOVER AREA YMCA

500 GEORGE ST
HANOVER,PA17331 		N/A PC Kids Come First 5,000

HANOVER PUBLIC LIBRARY ASSOCIATION INC

2 LIBRARY PL
HANOVER,PA17331 		N/A PC Guthrie Memorial Library 70,000

HOUSE OF HOPE YORK PA

23 N PLEASANT AVE
YORK,PA17407 		N/A PC Funding for Community Counseling 10,000

MOUNTAIN TRAILS FOUNDATION INC

PO BOX 754
PARK CITY,UT84060 		N/A PC General & Unrestricted 10,000

MT WASHINGTON PEDIATRIC HOSPITAL INC

1708 W ROGERS AVE
BALTIMORE,MD21209 		N/A PC Rehabilitation Services for Medically Fragile Children in need 25,000

NATIONAL INTERSCHOLASTIC CYCLING ASSOCIATION

21 ORINDA WAY STE C-368
ORINDA,CA94563 		N/A PC NICA MD Is Out Of This World 10,000

ORCHARD FRIENDS SCHOOL A NEW JERSEY NONPROFIT CORP

405 LINDEN AVE
RIVERTON,NJ08077 		N/A PC OFS Communications 63,000

PALLET FOUNDATION

1421 PRINCE ST STE 340
ALEXANDRIA,VA22314 		N/A PC Pallet Foundation Leadership and Workforce Development support 30,000

ROCHESTER INSTITUTE OF TECHNOLOGY

CONTROLLER 46 LOMB MEMORIAL DR
ROCHESTER,NY14623 		N/A PC Workplace Professionalism & Leader to Leader Program 30,000

RODALE INSTITUTE

611 SIEGFRIEDALE RD
KUTZTOWN,PA19530 		N/A PC Rodale Institute Farmer Training (RIFT) Program 30,000

SEMPER FIDO

131 KENNILWORTH RD
MARLTON,NJ08053 		N/A PC General & Unrestricted 25,000

SUMMIT GROVE CHRISTIAN CONFERENCE CENTER INC

140 S FRONT ST
NEW FREEDOM,PA17349 		N/A PC youth development and mentorship for summer camp staff 10,000

SUNRISE DAY CAMPS ASSOCIATION INC

15 NEIL CT
OCEANSIDE,NY11572 		N/A PC Horizon Day Camp 5,000

THE COLLEGE SETTLEMENT OF PHILADELPHIA

600 WITMER RD
HORSHAM,PA19044 		N/A PC College Settlement's Summer Camp Fund 20,000

UNITED WAY OF YORK COUNTY

140 E MARKET ST
YORK,PA17401 		N/A PC UWYC Seedlings Childcare Scholarship fund - Hanover, PA Childcare Partner(s) 5,000

USA BOBSLED SKELETON INC

196 OLD MILITARY RD
LAKE PLACID,NY12946 		N/A PC General & Unrestricted 10,000

VIRGINIA TECH FOUNDATION INC

902 PRICES FORK RD STE 4500
BLACKSBURG,VA24061 		N/A PC Support for the Virginia Tech Manufacturing Academy 20,000

VIRGINIA TECH FOUNDATION INC

902 PRICES FORK RD STE 4500
BLACKSBURG,VA24061 		N/A PC Virginia Tech Food Science & Technology - Support for Experiential Learning Opportunities for Undergraduate Students 10,000

VIRGINIA TECH FOUNDATION INC

902 PRICES FORK RD STE 4500
BLACKSBURG,VA24061 		N/A PC Virginia Tech Food Science & Technology - Professional Development Support for Graduate Students 10,000

YORK-ADAMS COMMUNITY TENNIS ASSOCIATION

225 BOWMAN RD REAR
HANOVER,PA17331 		N/A PC Indoor Community Center 20,000
Total .................................right arrow 3a 1,148,000
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 107,231  
4 Dividends and interest from securities ....     14 443,183  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 946,277  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aFederal Tax Refund 		    01 100  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   1,496,791  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,496,791
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
Way Foundation Inc
 
Employer identification number

82-3325659
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
Way Foundation Inc
  		Employer identification number
82-3325659
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Sally W Yelland Family CLAT
1801 Market Street STE 2300
 
Philadelphia, PA19103

$ 4,342,559


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
Way Foundation Inc
  		Employer identification number

82-3325659
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
Way Foundation Inc
  		Employer identification number

82-3325659
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2023 DepreciationSchedule
Name:
Way Foundation Inc
EIN:
82-3325659
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

TY 2023 InvestmentsCorpBondsSchedule
Name:
Way Foundation Inc
EIN:
82-3325659
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBVIE INC - 3.200% - 11/21/20 21,397 18,719
AIR LEASE CORP SER A MTN CALL 13,355 13,803
ALEXANDRIA REAL ESTATE - 4.900 18,115 15,043
AMERICAN EXPRESS CO - 3.950% - 30,044 29,519
AMERICAN TOWER CORP - 1.600% - 5,010 4,623
AMERICAN TOWER CORP - 3.125% - 16,031 14,186
AMGEN INC - 2.200% - 02/21/202 36,481 32,566
APPLE INC - 3.200% - 05/11/202 31,633 29,048
ASTRAZENECA FINANCE LLC NOTE - 20,143 20,408
BHP BILLITON LIMITED - 4.875% 25,301 25,132
BK OF AMERICA CORP MTN CALL MA 55,646 45,070
BK OF AMERICA CORP SER N MTN - 5,022 4,229
BOSTON PPTYS - 3.800% - 02/01/ 10,857 9,981
CITIGROUP GLOBAL MKTS HLDGS IN 100,000 100,000
CITIGROUP INC - 3.200% - 10/21 50,893 52,486
CVS CAREMARK CORP NOTE - 4.300 35,389 29,526
EQUINIX INC NOTE CALL MAKE WHO 17,795 15,635
FIFTH THIRD BANCORP NOTE CALL 29,190 30,106
GILEAD SCIENCES INC - 1.200% - 38,386 35,617
GOLDMAN SACHS - 3.814% - 04/23 40,207 33,250
GS DUAL DIRECT TRIGGER - 0.000 100,000 100,290
HOME DEPOT INC - 2.800% - 09/1 28,502 28,537
INTEL - 3.750% - 08/05/2027 45,030 44,111
JP MORGAN CHASE - 0.000% - 08/ 65,000 69,420
JP MORGAN CHASE - 0.000% - 10/ 65,000 67,353
JP MORGAN CHASE - 0.000%-10/31 99,999 100,560
JP MORGAN CHASE - 2.580% - 04/ 53,231 44,914
JPM CHASE FINL CO - 0.000% - 0 100,000 103,009
JPM DUAL DIRECTIONAL TRIGGER P 65,000 68,016
JPMORGAN - 0.000% - 12/19/2024 100,000 95,750
JPMORGAN CHASE - 0.000% - 11/2 99,999 102,310
KENOSHA WIS GENL OBLIG TAXABLE 70,000 69,896
LINCOLN NATL CORP - 3.050% - 0 11,022 8,845
MORGAN STANLEY SER I MTN - 6.3 26,474 27,006
MUKWONAGO WIS SCH DIST WAUKESH 85,000 84,138
NEW YORK N Y CITY TRANSITIONAL 74,923 75,570
NEXTERA ENERGY - 4.900% - 02/2 24,829 25,236
NSTAR ELEC CO BOND CALL MAKE W 44,732 43,366
PALM SPRINGS CALIF - 1.070% - 45,000 42,654
PFIZER INVT - 4.750% - 05/19/2 34,987 35,086
PNC FINL SVCS - 3.500% - 01/23 30,715 29,956
PROLOGIS LP - 1.250% - 10/15/2 39,409 32,374
PUBLIC SVC ELEC GAS CO - 2.250 12,857 13,205
SHELL INT'L FINANCE - 2.875% - 28,837 28,888
SIMON PPTY GROUP LP - 2.000% - 34,684 34,202
T- MOBILE - 4.950% - 03/15/202 10,155 10,141
TORONTO DOMINION BANK - 1.950% 47,720 46,220
US BANCORP MTN - 4.548% - 07/2 25,117 24,649
VERIZON COMMS - 4.329% - 09/21 35,024 29,710
WELLS FARGO & CO - 2.406% - 10 58,127 53,507
XCEL ENERGY INC - 4.000% - 06/ 25,203 24,415

TY 2023 InvestmentsCorpStockSchedule
Name:
Way Foundation Inc
EIN:
82-3325659
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABS 56,892 55,695
ABBVIE INC 97,640 114,368
ACCENTURE PLC 68,146 80,709
ADOBE SYSTEMS, INC 48,092 70,399
AGILENT TECHNOLOGIES INC 23,152 25,721
AIA GROUP LTD ADR 37,143 28,013
ALBANY INTERNATIONAL CORP 32,415 35,359
ALIBABA GROUP HOLDING LTD 90,902 42,243
ALLEGION PLC 59,593 75,127
ALPHABET INC CL A 65,572 105,885
AMAZON COM 117,007 134,163
AMEREN CORPORATION 30,323 28,357
AMERICAN ELECTRIC POWER INC 33,903 32,732
AMERICAN TOWER REIT INC 88,904 87,431
ANALOG DEVICES INC 126,376 156,664
ANSYS INC 67,142 103,058
ARMSTRONG WORLD INDU 30,910 43,654
ASPEN TECHNOLOGY INC COM 57,867 86,739
AT&T, INC 57,150 63,009
ATLASSIAN CORP CL A 38,082 56,611
AUTOMATIC DATA PROCESSING INC 38,191 44,031
AVALONBAY CMNTYS INC 26,699 26,772
AVERY DENNISON CORP 27,160 32,346
AZENTA INC 33,866 50,288
BADGER METER, INC 29,807 31,646
BANK NEW YORK MELLON CORP COM 37,682 41,276
BANK OF AMERICA CORP 57,038 63,030
BANK OF HAWAII CORP 30,755 45,505
BECTON DICKINSON & CO 62,255 60,958
BENTLEY SYSTEMS INC CL B 98,240 134,050
BERKLEY W R CP 50,805 89,602
BLACKROCK INC 46,548 57,661
BOOZ ALLEN HAMILTON HOLDING CO 20,737 25,070
BRANDYWINEGLOBAL HIGH YIELD FU 804,251 850,543
BRIGHT HORIZONS FAMILY SOLUTIO 81,745 59,654
BRISTOL-MYERS SQUIBB CO 44,337 38,483
BROADCOM INC 75,325 121,671
CADENCE DESIGN SYSTEMS INC 34,198 67,548
CAPITEC BANK HLDGS 12,265 16,796
CHARLES RIV LABORATORIES INTL 58,379 94,324
CHEESECAKE FACTORY INC 39,365 39,491
CHEMED CORP 53,423 69,001
CHEVRON CORP 107,925 125,593
CHINA MERCHANTS BANK 35,246 17,422
CHIPOTLE MEX GRILL 42,650 64,993
CHOICE HOTELS INTERNATIONAL IN 59,677 55,404
CHUBB LIMITED 67,665 85,428
CISCO SYSTEMS INC 101,521 108,113
CME GROUP, INC 63,307 68,445
CMS ENERGY CP 19,969 19,860
COMCAST CORP 112,971 122,078
CONOCOPHILLIPS 32,077 42,946
CONSTRUCTION PARTNERS INC 37,249 55,357
COOPER COMPANIES INC 90,978 113,910
COSAN ADR REPRESENTING 33,273 29,911
CREDICORP LTD 11,220 13,050
CUMMINS INC 33,980 34,738
DANAHER CORP 78,940 90,685
DOLBY LABORATORIES 68,152 81,785
DTE ENERGY CO COM 17,208 18,083
DYNATRACE 49,972 59,120
EATON CORP PLC 54,758 73,209
ECOLAB INC 52,946 51,174
EDWARDS LIFESCIENCES 67,759 65,956
ELEVANCE HEALTH INC 73,580 71,677
ENTERGY CORP 35,977 34,000
EOG RESOURCES INC 51,654 71,965
EPAM SYSTEMS INC 19,152 9,750
EQUIFAX INC 58,250 97,680
EVERSOURCE ENERGYINC 22,313 18,454
EVERTEC INC 46,753 51,871
EXPONENT, INC 69,099 70,608
EXXON MOBIL CORP 113,576 126,575
FAIR ISSAC & CO INC 18,839 69,841
FIRST FINANCIAL BANKSHARES, IN 26,899 28,118
FORTIVE CORPORATION 60,577 64,721
FULLER H B CO 39,856 48,113
GALLAGHER ARTHUR J & CO 36,735 34,856
GARTNER INC 46,892 63,155
GENERAL MILLS INC 26,535 26,317
GENUINE PARTS COMPANY 26,286 23,822
GETTY RLTY HLDG CO 36,514 31,470
GLOBANT SA 25,009 31,651
GRACO INC 20,596 22,471
GRUPO FIN ADR 20,907 28,419
GS DUAL DIRECTIONAL TRIGGER PL 65,000 71,500
HDFC BANK LTD ADR 53,243 51,138
HENRY JACK & ASSOC INC 103,642 104,092
HILLMAN SOLUTIONS ORD SHS 46,448 50,029
HOME DEPOT INC 114,281 130,649
HONEYWELL INTL 92,244 94,999
HOULIHAN LOKEY INC 53,202 68,109
ICICI BK LTD ADS 32,619 39,717
IDEXX CORP 61,909 67,716
ILLINOIS TOOL WORKS 38,650 41,125
INTERACTIVE BROKERS GROUP, INC 46,377 65,159
INTERNATIONAL BUSINESS MACHINE 75,035 87,499
INTUIT 82,301 126,881
ISHARES DJ US TECH ETF 392,381 686,664
ISHARES MSCI KLD 400 SOCIAL IN 383,561 586,999
ISHARES S&P NORTH AMERICA TECH 409,671 629,245
ISHARES TRUST ISHARES MSCI EAF 1,943,976 2,045,700
ISHARES TRUST MSCI EAFE INDEX 341,979 418,645
JD.COM, INC 28,724 12,423
JOHN BEAN TECH CORP 25,802 23,271
JOHNSON & JOHNSON 139,135 145,768
JP MORGAN CHASE 156,986 200,208
KLA TENCOR CORP 61,106 88,939
LAKELAND FINANCIAL CORPORATION 24,964 30,560
LAM RESEARCH CORP 61,659 82,242
LANDSTAR SYSTEM 48,087 50,543
LCI INDUSTRIES 33,627 35,450
LENNOX INTL INC 49,825 110,985
LESLIES INC 39,433 36,851
LINDE PLC COM 57,111 69,410
LOCKHEED MARTIN CORP 46,518 55,749
LPL FINANCIAL HOLDINGS INC 59,174 92,869
MANHATTAN ASSOCIATES INC 26,400 31,867
MARSH AND MCLENNAN COMPANIES I 66,286 84,693
MARTIN CURRIE SMA-SHARES SERIE 763,052 625,732
MARVELL TECHNOLOGY, INC 49,765 65,255
MCDONALD'S CORP 71,804 87,174
MEDTRONIC PLC 56,189 51,817
MEITUAN DIANPING UNSPONSORED A 51,545 19,728
MERCK & CO INC 82,211 97,464
MICROCHIP TECHNOLOGY INC 59,749 70,791
MICROSOFT CORP 209,297 367,767
MINTH GROUP UNSPONSORED ADR RE 21,625 10,540
MONDELEZ INTERNATIONAL INC 55,240 61,058
MONOLITHIC POWER SYSTEMS, INC 42,933 72,540
MORGAN STANLEY 64,952 66,208
MORGAN STANLEY FIN LLC NT SX5E 1,000,000 1,873,101
MORGAN STANLEY FIN LLC NT SX5E 625,000 1,178,626
MSCI INC 51,626 67,878
NATIONAL BEVERAGE CORP 43,230 41,815
NEXTERA ENERGY, INC 24,774 23,810
NIKE INC-CL B 86,835 78,496
NORDSON CP 62,195 110,947
NORTHROP GRUMMAN CORP 59,325 67,880
NVIDIA CORP 48,172 149,556
PACKAGING CORP AMER 17,961 19,875
PARKER HANNIFIN CP 72,029 95,365
PEPSICO INC 44,006 47,046
PHILIP MORRIS INTL 50,474 52,967
PING AN INSURANCE GROUP ADR 37,363 19,231
PNC FINANCIAL GROUP INC 60,962 64,882
POOL CORP 69,084 126,790
PPG INDUSTRIES INC 49,645 51,595
PRIMERICA, INC 43,076 47,119
PROCTER GAMBLE CO 106,483 115,327
PROLOGIS 26,465 29,193
PT BANK NEGARA INDONESIA 13,494 14,771
PT BANK RAKYAT ADR 22,767 29,110
PT TELEKOM. IND. TBK ADR 15,138 16,641
PUBLIC STORAGE INC 24,107 26,017
R L I CP 36,845 37,007
RBC BEARINGS INCORPORATED 43,244 56,978
ROLLINS INC 54,132 82,886
SAIA, INC 45,847 74,059
SCOTTS CO. CLASS A 116,059 75,990
SERVICE NOW 73,894 101,735
SITEONE LANDSCAPE SUPPLY INC 76,909 118,463
SOUTHERN CO 46,081 46,419
STARWOOD REAL ESTATE INCOME TR 53,668 52,163
TAIWAN SEMICONDUCTOR MFG CO LT 140,717 127,504
TELEDYNE TECH INC 74,952 74,084
TENCENT HOLDINGS LIMITED 121,180 71,083
TERADYNE INC 53,423 90,289
TEXAS INSTRUMENTS INC 37,713 44,320
THE BLACKSTONE GROUP INC CL A 73,978 93,608
THE COCA-COLA CO 65,904 67,711
THERMO FISHER SCIENTIFIC INC 57,319 73,249
THOR INDS INC 64,682 116,713
TRANE TECHNOLOGIES PLC 44,699 58,536
UBER 53,068 70,436
UNIFIRST CP 36,510 39,691
UNION PACIFIC 90,725 115,441
UNITED PARCEL SERVICE 77,704 72,797
UNITEDHEALTH GROUP INC 140,014 191,635
VALERO ENERGY CORP 45,095 56,030
VERALTO CORPORATION 30,059 33,973
VERISK ANALYTICS, INC 51,239 63,298
VISA INC 158,808 203,854
WAL-MART DE MEX V SP/ADR 19,342 21,870
WAL-MART STORES INC 101,592 106,571
WASTE MANAGEMENT INC 35,007 45,491
WATSCO INC 139,272 184,242
WD-40 COMPANY 35,108 42,554
WEC ENERGY GROUP, INC 30,367 29,207
WEG SA BRAZIL SPONSORED ADR 23,807 29,998
WELLS FARGO & CO 75,384 79,736
WEST PHARMA SVCS INC 45,682 59,860
WUXI BIOLOGICS INC ADR 27,236 13,194
XINYI SOLAR HOLDINGS ADR 18,065 5,999
ZEBRA TECHNOLOGIES CORP 60,154 79,812
ZURN WATER SOLUTIONS 74,851 78,495

TY 2023 InvestmentsGovtObligationsSch
Name:
Way Foundation Inc
EIN:
82-3325659
US Government Securities - End of Year Book Value:

1,158,395
US Government Securities - End of Year Fair Market Value:

1,109,938
State & Local Government Securities - End of Year Book Value:


234,586
State & Local Government Securities - End of Year Fair Market Value:


229,795


TY 2023 InvestmentsOtherSchedule2
Name:
Way Foundation Inc
EIN:
82-3325659
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ARES INDUSTRIAL REIT   1,036,416 1,319,819
BLACKSTONE REAL ESTATE INCOME   622,795 757,420
GRAHAM ABSOLUTE RETURN LTD. CL   495,750 692,257

TY 2023 OtherExpensesSchedule
Name:
Way Foundation Inc
EIN:
82-3325659
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 67,543     67,543
Bank Charges 1 1    
Postage/Delivery Service 86     86
Website Hosting/Support 361     361


TY 2023 OtherIncomeSchedule2
Name:
Way Foundation Inc
EIN:
82-3325659
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Federal Tax Refund 100    


TY 2023 OtherProfessionalFeesSchedule
Name:
Way Foundation Inc
EIN:
82-3325659
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 82,105 82,105    


TY 2023 SubstantialContributorsSch
Name:
Way Foundation Inc
EIN:
82-3325659
Name Address
Sally W Yelland Family CLAT 1801 Market Street STE 2300
Philadelphia,PA19103


TY 2023 TaxesSchedule
Name:
Way Foundation Inc
EIN:
82-3325659
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2023 7,000      
990-PF Extension for 2022 700      
990-T Extension for 2022 100      
Foreign Tax Paid 778 778