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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
WAITT FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1397
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NORTH SIOUX CITY, SD57049
A Employer identification number

46-0428166
B Telephone number (see instructions)

(605) 232-9929
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$136,326,231J 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)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 489,457 489,457  
4 Dividends and interest from securities... 2,907,289 2,907,289  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,551,194
b Gross sales price for all assets on line 6a 7,166,935
7 Capital gain net income (from Part IV, line 2)... 2,596,307
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
126,225 908,198  
12 Total. Add lines 1 through 11........ 5,074,165 6,901,251  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 254,854 0   254,854
14 Other employee salaries and wages...... 699,503 0   699,503
15 Pension plans, employee benefits....... 163,984 0   163,984
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
69,971 0   56,021
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
579,859 492,324   97,920
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
22,845 15,296   0
19 Depreciation (attach schedule) and depletion... 18,354 0  
20 Occupancy.............. 50,308 0   37,662
21 Travel, conferences, and meetings....... 218,105 0   0
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
64,078 0   63,525
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,141,861 507,620   1,373,469
25 Contributions, gifts, grants paid....... 9,878,414 9,878,414
26 Total expenses and disbursements. Add lines 24 and 25 12,020,275 507,620   11,251,883
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -6,946,110
b Net investment income (if negative, enter -0-) 6,393,631
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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............. 203,028 513,245 513,245
2 Savings and temporary cash investments......... 8,291,794 11,973,399 11,973,399
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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.......... 16,359 19,985 19,985
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 38,116,339 Click to see attachment
List of Attached Documents:
// Content
35,913,470 		35,913,470
c Investments—corporate bonds (attach schedule)....... 20,803,139 Click to see attachment
List of Attached Documents:
// Content
20,411,563 		20,411,563
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).......... 67,310,675 Click to see attachment
List of Attached Documents:
// Content
65,319,042 		65,319,042
14 Land, buildings, and equipment: basis right arrow351,628
Less: accumulated depreciation (attach schedule) right arrow333,645 36,337 Click to see attachment
List of Attached Documents:
// Content
17,983 		17,983
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,506,800 		Click to see attachment
List of Attached Documents:
// Content
2,157,544 		Click to see attachment
List of Attached Documents:
// Content
2,157,544
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 136,284,471 136,326,231 136,326,231
Liabilities 17 Accounts payable and accrued expenses.......... 336,068 414,515
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) Click to see attachment
List of Attached Documents:
// Content
481,328 		Click to see attachment
List of Attached Documents:
// Content
363,162
23 Total liabilities (add lines 17 through 22)......... 817,396 777,677
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........... 135,467,075 135,548,554
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    
29 Total net assets or fund balances (see instructions)..... 135,467,075 135,548,554
30 Total liabilities and net assets/fund balances (see instructions). 136,284,471 136,326,231
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
135,467,075
2
Enter amount from Part I, line 27a .....................
2
-6,946,110
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
7,027,589
4
Add lines 1, 2, and 3 ..........................
4
135,548,554
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
135,548,554
Form 990-PF (2024)
Form 990-PF (2024)
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 OAKTREE ENHANCED INCOME P 2023-12-31 2024-12-31
c COLCHESTER GLOBAL BOND P 2023-12-31 2024-12-31
d ABC BLOCKED SELLER PARTNERSHIP LP P 2023-12-31 2024-12-31
e BLACKSTONE TACTICAL OPPORTUNITIES FUND II - Q L.P. P 2023-12-31 2024-12-31
BLACKSTONE TACTICAL OPPORTUNITIES FUND II (CAYMAN) L.P. P 2023-12-31 2024-12-31
BLACKSTONE TACTICAL OPPORTUNITIES FUND II L.P. P 2023-12-31 2024-12-31
BLACKSTONE TACTICAL OPPORTUNITIES FUND III DE L.P. P 2023-12-31 2024-12-31
CANYON LAUREL INVESTMENT FUND II (B) L.P. P 2023-12-31 2024-12-31
CB OFFSHORE EQUITY FUND IX, LP P 2023-12-31 2024-12-31
CB OFFSHORE EQUITY FUND X LP P 2023-12-31 2024-12-31
CLAYTON, DUBILIER & RICE FUND XII, LP P 2023-12-31 2024-12-31
ENTERPRISE PRODUCTS PARTNERS, L.P. P 2023-12-31 2024-12-31
FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP P 2023-12-31 2024-12-31
FOLIUM TIMBER FUND I PARALLEL-1 LP P 2023-12-31 2024-12-31
FORWARD VENTURES IV, L.P.-2024 P 2023-12-31 2024-12-31
GENERATION IM GLOBAL EQUITY FUND, LLC P 2023-12-31 2024-12-31
POMONA CAPITAL V, L.P. P 2023-12-31 2024-12-31
Q-BLK TIMBER PORTFOLIO A SEPARATE SERIES OF Q-BLK REAL ASSETS, L.P. P 2023-12-31 2024-12-31
STEPSTONE VC GLOBAL PARTNERS IX B LP P 2023-12-31 2024-12-31
STEPSTONE VC GLOBAL PARTNERS V-B, LP P 2023-12-31 2024-12-31
STEPSTONE VC GLOBAL PARTNERS VII B LP P 2023-12-31 2024-12-31
THE COLCHESTER GLOBAL BOND FUND P 2023-12-31 2024-12-31
TRUMBULL PROPERTY FUND LP P 2023-12-31 2024-12-31
US VENTURE PARTNERS XII, LP P 2023-12-31 2024-12-31
VIVO CAPITAL FUND VIII, LP P 2023-12-31 2024-12-31
VIVO VENTURES FUND VII, LP P 2023-12-31 2024-12-31
WAVE EQUITY FUND LP P 2023-12-31 2024-12-31
(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 7,166,768   5,465,228 1,701,540
b 167     167
c     150,513 -150,513
d 74,691   15,495 59,196
e     68 -68
3,626     3,626
    37,525 -37,525
104     104
730     730
49,787     49,787
72,223   14,983 57,240
98,104   98,104 0
12,065   12,065 0
188,980     188,980
246     246
102,253     102,253
269,432     269,432
    6,029 -6,029
    76,290 -76,290
3,197     3,197
229,057     229,057
109,070     109,070
    35,824 -35,824
30,619     30,619
9,108     9,108
1   3,086 -3,085
44,691     44,691
46,598     46,598
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       1,701,540
b       167
c       -150,513
d       59,196
e       -68
      3,626
      -37,525
      104
      730
      49,787
      57,240
      0
      0
      188,980
      246
      102,253
      269,432
      -6,029
      -76,290
      3,197
      229,057
      109,070
      -35,824
      30,619
      9,108
      -3,085
      44,691
      46,598
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 2,596,307
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 88,871
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 0
3 Add lines 1 and 2........................... 3 88,871
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 88,871
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 125,277
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 36,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 161,277
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
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 72,406
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow72,406 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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 arrowCA, SD
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 2024 or the taxable year beginning in 2024? 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. ...............................
10
 
No
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 arrowWWW.WAITTFOUNDATION.ORG
14
The books are in care ofright arrowJOSH SHERER Telephone no.right arrow (605) 232-9929

Located atright arrowPO BOX 1397NORTH SIOUX CITYSD ZIP+4right arrow57049
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 2024, 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 (2024)
Form 990-PF (2024)
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)
 
No
(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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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)
Yes
 
(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
 
No
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
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
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
HAILEY WAITT DIRECTOR
0.50 		0 0 0
7817 IVANHOE AVE SUITE 300
LA JOLLA,CA92037
SHANE HARTNETT DIRECTOR
2.00 		0 0 0
801 RIVER DRIVE SUITE 200
NORTH SIOUX CITY,SD57049
MAX WAITT DIRECTOR
0.50 		0 0 0
801 RIVER DRIVE SUITE 200
NORTH SIOUX CITY,SD57049
DAVID STOOS SECRETARY
2.00 		0 0 0
801 RIVER DRIVE SUITE 200
NORTH SIOUX CITY,SD57049
JOSH SHERER TREASURER
2.00 		0 0 0
801 RIVER DRIVE SUITE 200
NORTH SIOUX CITY,SD57049
DAVE RUSSELL VICE CHAIRMAN/DIRECTOR
0.50 		0 0 0
7817 IVANHOE AVE SUITE 300
LA JOLLA,CA92037
THEODORE W WAITT CHAIRMAN/DIRECTOR
6.00 		0 0 0
7817 IVANHOE AVE SUITE 300
LA JOLLA,CA92037
CHERIE PROTHRO-SHEA MANAGING DIRECTOR
40.00 		214,966 39,198 690
7817 IVANHOE AVE SUITE 300
LA JOLLA,CA92037
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
THOMAS GRUESKIN PROGRAM DIRECTOR
40.00 		184,344 49,466 1,489
7817 IVANHOE AVE STE 300
LA JOLLA,CA92037
TAMARA MARSHALL OPERATIONS MANAGER
40.00 		170,010 50,278 196
7817 IVANHOE AVE STE 300
LA JOLLA,CA92037
SHAYNA BRODY MEDIA & COMMS DIRECT
40.00 		145,853 18,125 126
7817 IVANHOE AVE STE 300
LA JOLLA,CA92037
TIFFANY NGO COMMUNICATIONS MANAG
40.00 		119,020 15,896 78
7817 IVANHOE AVE STE 300
LA JOLLA,CA92037
JENNIFER AADNES ADMINISTRATIVE ASSIS
40.00 		110,673 7,342 248
7817 IVANHOE AVE STE 300
LA JOLLA,CA92037
Total number of other employees paid over $50,000...................right arrow 4
Form 990-PF (2024)
Form 990-PF (2024)
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
AVALON CAPITAL GROUP MANAGEMENT FEE 279,307
PO BOX 1397
NORTH SIOUX CITY,SD57049
RSM US LLP AUDIT AND TAX SERVICES 71,210
5155 PAYSPHERE CIRCLE
CHICAGO,IL60674
Total number of others receiving over $50,000 for professional services.............right arrow0
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 arrow0
Form 990-PF (2024)
Form 990-PF (2024)
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
60,155,270
b
Average of monthly cash balances.......................
1b
10,341,432
c
Fair market value of all other assets (see instructions)................
1c
68,538,426
d
Total (add lines 1a, b, and c).........................
1d
139,035,128
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
139,035,128
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
2,085,527
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
136,949,601
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
6,847,480
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
6,847,480
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
88,871
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
6,834
c
Add lines 2a and 2b............................
2c
95,705
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
6,751,775
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
6,751,775
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
6,751,775
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
11,251,883
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
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
11,251,883
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 6,751,775
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021...... 1,600,933
d From 2022...... 3,805,187
e From 2023...... 5,146,766
f Total of lines 3a through e ........ 10,552,886
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 11,251,883
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 6,751,775
e Remaining amount distributed out of corpus 4,500,108
5 Excess distributions carryover applied to 2024. 0 0
(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 15,052,994
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
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...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		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) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		15,052,994
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021.... 1,600,933
c Excess from 2022.... 3,805,187
d Excess from 2023.... 5,146,766
e Excess from 2024.... 4,500,108
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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).)
THEODORE W WAITT
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
CHERIE PROTHRO-SHEA
PO BOX 1948
LA JOLLA,CA92038
(858) 551-4400
bThe form in which applications should be submitted and information and materials they should include:
GRANT APPLICATIONS ARE ACCEPTED FOR WF'S RAPID OCEAN CONSERVATION ('ROC') GRANTS PROGRAM. APPLICATIONS MUST BE COMPLETED UTILIZING WF'S PRELIMINARY GRANT REQUEST VIA ITS WEBSITE WAITTFOUNDATION.ORG. AFTER THE GRANT APPLICANT REVIEWS WF'S GRANT GUIDELINES AND GRANTEE REQUIREMENTS ALSO FOUND ON ITS WEBSITE, AN APPLICANT MUST PROVIDE ITS US TAX IDENTIFICATION NUMBER AND MUST BE PREPARED TO PROVIDE A CURRENT COPY OF ITS IRS 501(C)(3) DETERMINATION LETTER. INTERNATIONAL APPLICANTS OUTSIDE THE US MUST PROVIDE PROOF OF PUBLIC CHARITABLE STATUS EQUIVALENT UNDER US LAWS.
cAny submission deadlines:
PRELIMINARY GRANT REQUESTS ARE ACCEPTED YEAR-ROUND VIA WF'S WEBSITE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
WAITT FOUNDATION LIMITS ITS GRANTS ACCORDING TO THE CRITERIA DEFINED IN THE GRANTS GUIDELINES AND GRANTEE REQUIREMENTS SECTION ON ITS WEBSITE (WAITTFOUNDATION.ORG). ITS GRANTEES MUST HAVE PROGRAMS THAT ARE PROJECT SPECIFIC WITH TANGIBLE AND MEASURABLE RESULTS. PRIORITY IS GIVEN TO INITIATIVES ADDRESSING WF'S CORE FOCUS, OCEAN CONSERVATION. WHILE WF MAY MAKE EXCEPTIONS IN SPECIAL CIRCUMSTANCES, IT GENERALLY DOES NOT SUPPORT PROGRAMS OR ORGANIZATIONS THAT FALL OUTSIDE OF ITS KEY AREAS OF FOCUS, AND DOES NOT ACCEPT PROPOSALS TO SUPPORT INDIVIDUALS, EVENT FUNDRAISERS AND SPONSORSHIPS, ENDOWMENTS, OR LOBBYING OF ANY KIND. THE MAXIMUM AMOUNT FOR WF ROC GRANT REQUEST IS $15,000.
Form 990-PF (2024)
Form 990-PF (2024)
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

ANCIENT AND EFFERVESCENT ORDER OF THE LITTLE YELLOW DOG

5500 STONE AVENUE
SIOUX CITY,IA51106 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 1,000

BARBUDANGO

CODRINGTON VILLAGE
CODRINGTON    
AC 		NONE NC OCEAN CONSERVATION 30,000

BERMUDA UNDERWATER EXPLORATION INSTITUTE BUEI

40 CROW LANE
PEMBROKE,HM  
BD 		NONE PC RAPID OCEAN CONSERVATION GRANT 20,000

CONSERVATION INTERNATIONAL FOUNDATION

2011 CRYSTAL DRIVE SUITE 600
ARLINGTON,VA22202 		NONE PC OCEAN CONSERVATION 153,377

CRITTENTON CENTER

PO BOX 295
SIOUX CITY,IA51106 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 1,500

DOCTORS WITHOUT BORDERS USA INC

PO BOX 5030
HAGERSTOWN,MD21741 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 500

FOOD BANK OF SIOUXLAND

PO BOX 985
SIOUX CITY,IA51102 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 1,800

FOUNDATION OF LA JOLLA HIGH SCHOOL

750 NAUTILUS STREET
LA JOLLA,CA92037 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 35

GLOBAL FISHING WATCH

1025 CONNECTICUT AVE NW STE 200
WASHINGTON,DC20036 		NONE PC OCEAN CONSERVATION 200,000

HOMEBOY INDUSTRIES

130 W BRUNO STREET
LOS ANGELES,CA90012 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 1,000

INNER CITY LAW CENTER

1309 EAST SEVENTH STREET
LOS ANGELES,CA90021 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 1,080

INTERNATIONAL COMMUNITY FOUNDATION

11300 SORRENTO VALLEY ROAD SUITE
115
SAN DIEGO,CA92121 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 837

KCRW FOUNDATION INC

1900 PICO BLVD
SANTA MONICA,CA90405 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 120

KPBS SAN DIEGO STATE UNIVERSITY RESEARCH FOUNDATION

5200 CAMPANILE DRIVE
SAN DIEGO,CA92182 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 120

KULTURECITY

732 MONTGOMERY HIGHWAY PMB 392
BIRMINGHAM,AL35216 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 10,000

LA COLONIA DE EDEN GARDENS FOUNDATION

PO BOX 565
SOLANA BEACH,CA92075 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 52

LEUKEMIA & LYMPHOMA SOCIETY INC

3 INTERNATIONAL DRIVE
RYE BROOK,NY10573 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 100

MACQUARIE UNIVERSITY

BALACLAVA ROAD
NORTH RYDE,NSW2109
AS 		NONE PC RAPID OCEAN CONSERVATION GRANT 20,000

MERCURY SAN DIEGO TRACK & FIELD

6426 SKYLINE DRIVE
SAN DIEGO,CA92114 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 150

MICRONESIA CONSERVATION TRUST

PEILAPALAP KASELEHLIE STREET
KOLONIA,POHNPEI  
FM 		NONE PC RAPID OCEAN CONSERVATION GRANT 20,000

NAMI NATIONAL

4301 WILSON BLVD SUITE 300
ARLINGTON,VA22203 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 50

NATIVE AMERICAN RIGHTS FOUNDATION

1506 BROADWAY
BOULDER,CO80302 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 721

BREN SCHOOL OF ENVIRONMENTAL SCIENCE & MANAGEMENT (UCSB)

2410 BREN HALL
SANTA BARBARA,CA93106 		NONE PC OCEAN CONSERVATION 692,444

SEASKETCH

MARINE SCIENCE INSTITUTE UNIVERSITY
OF CALIFORNIA
SANTA BARBARA,CA93106 		NONE PC OCEAN CONSERVATION 600,366

OCEAN FOUNDATION

1320 19TH ST NW SUITE 401
WASHINGTON,DISTRICT OF COLUM20036
AC 		NONE PC RAPID OCEAN CONSERVATION GRANT 15,000

OCEANO AZUL FOUNDATION

RUA JARDIM DO TABACO 34
LISBON   1990-005
PO 		NONE NC OCEAN CONSERVATION 300,000

PEOPLE ASSISTING THE HOMELESS

PATH PHILANTHROPY MAILBOX PO BOX
31001-1743
PASADENA,CA911101743 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 1,030

PUBLIC MEDIA GROUP OF SOUTHERN CALIFORNIA

PO BOX 6009
WHITTIER,CA90607 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 180

RANCHO COASTAL HUMANE SOCIETY

389 REQUEZA STREET
ENCINITAS,CA92024 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 52

REGENTS OF THE UNIVERSITY OF CALIFORNIA- SD

9500 GILMAN DRIVE
LA JOLLA,CA92093 		NONE PC OCEAN CONSERVATION 275,000

RONALD MCDONALD HOUSE CHARITIES

26345 NETWORK PLACE
CHICAGO,IL60673 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 650

MERCURY SAN DIEGO TRACK & FIELD

1424 E SHERMAN AVE STE 300
COEUR D ALENE,ID83814 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 101

SIOUXLAND HUMANE SOCIETY

1015 TRI-VIEW AVE
SIOUX CITY,IA51103 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 2,800

SOUTHERN CALIFORNIA PUBLIC RADIO

474 S RAYMOND AVE
PASADENA,CA91105 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 120

ST LUKE'S CHILDREN'S MIRACLE NETWORK

2720 STONE PARK BLVD
SIOUX CITY,IA51104 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 4,000

SUSTAINABLE OCEAN ALLIANCE

1355 MARKET STREET SUITE 488
SAN FRANCISCO,CA94103 		NONE PC OCEAN CONSERVATION 100,000

THE UNIVERSITY OF QUEENSLAND

1209 G ST NE
WASHINGTON,DC20002 		NONE PC OCEAN CONSERVATION 250,000

THE UNIVERSITY OF THE SOUTH PACIFIC INSTITUTE OF APPLIED SCIENCES

LAUCALA CAMPUS PRIVATE MAIL BAG
SUVA    
FJ 		NONE NC OCEAN CONSERVATION 7,397

UNYT UTO NI YALO TRUST

NATIONAL SAILING CENTER
SUVA POINT    
FJ 		NONE NC OCEAN CONSERVATION 25,000

WAITT INSTITUTE

801 RIVER DRIVE SUITE 200
NORTH SIOUX CITY,SD57049 		NONE POF OCEAN CONSERVATION 7,141,280

WIKIMEDIA FOUNDATION INC

PO BOX 98204
WASHINGTON,DC20090 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 52

WOWS KIDS FIJI

251 REWA STREET
SUVA    
FJ 		NONE PC GENERAL SUPPORT THROUGH EMPLOYEE MATCH PROGRAM 500
Total .................................right arrow 3a 9,878,414
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
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 ........... 		    14 489,457  
4 Dividends and interest from securities ....     14 2,907,289  
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 1,551,194  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPARTNERSHIP INCOME PER BOOKS 		901101 -70,493 14 196,718  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -70,493 5,144,658 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
5,074,165
(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 (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 69,971 0   56,021

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

TY 2024 ExpenditureResponsibilityStmt
Name:
WAITT FOUNDATION
EIN:
46-0428166
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
BARBUDANGO
  		CODRINGTON VILLAGE
CODRINGTON    
AC 		2022-11-30 30,000 OCEAN CONSERVATION 30,000 NONE 05/15/23, 10/15/23, 06/16/24    
FOREVER COSTA RICA
  		SABANA NORTE TORRE LA SABANA PISO 5
SAN JOSE    
CS 		2023-12-07 100,000 OCEAN CONSERVATION 100,000 NONE 05/22/24, 10/15/24, 04/15/25    
OCEANO AZUL FOUNDATION
  		ESPLANADA DOM CARLOS I S/N 1990-005
LISBOA    
PO 		2022-09-01 382,762 OCEAN CONSERVATION 382,762 NONE 10/27/23, 05/15/23, 11/03/23, 11/4/25    
UTO NI YALO TRUST
  		SUVA POINT NATIONAL SAILING CENTRE
LAUCALA BAY R
SUVA    
FJ 		2022-12-09 25,000 OCEAN CONSERVATION 5,000 NONE 08/30/23, 06/30/24    
FOREVER COSTA RICA
  		SABANA NORTE TORRE LA SABANA PISO 5
SAN JOSE    
CS 		2023-12-07 100,000 OCEAN CONSERVATION 100,000 NONE 5/22/24, 10/15/24, 4/15/25    
INTERNATIONAL UNION FOR CONSERVATION OF NATURE
  		1630 CONNECTICUT AVE NW SUITE 300
WASHINGTON,DC20009 		2023-12-06 100,000 OCEAN CONSERVATION 57,945 NONE 01/01/23, 06/30/24, 09/03/25    
THE UNIVERSITY OF THE SOUTH PACIFIC
  		LAUCALA CAMPUS PRIVATE MAIL BAG
SUVA    
FJ 		2023-12-20 83,762 OCEAN CONSERVATION 63,926 NONE 01/01/23, 07/01/24, 07/29/25    
BARBUDANGO
  		CODRINGTON VILLAGE
CODRINGTON    
AC 		2023-11-29 30,000 OCEAN CONSERVATION 30,000 NONE 07/02/24, 11/04/24, 04/14/25    
BERMUDA UNDERWATER EXPLORATION INSTITUTE
  		40 CROW LANE
PEMBROKE    
BD 		2024-10-16 20,000 OCEAN CONSERVATION 0 NONE DUE 11/30/25    
MACQUARIE UNIVERSITY
  		BALACLAVA ROAD
NORTH RYDE    
AS 		2024-10-28 20,000 OCEAN CONSERVATION 0 NONE 08/07/25    
MICRONESIA CONSERVATION TRUST
  		PEILAPALAP KASELEHLIE STREET
KOLONIA    
FM 		2024-04-10 20,000 OCEAN CONSERVATION 20,000 NONE 2/27/25    
OCEANO AZUL FOUNDATION
  		RUA JARDIM DO TABACO 34
LISBON    
PO 		2024-11-05 300,000 OCEAN CONSERVATION 51,614 NONE 08/29/25    
THE UNIVERSITY OF THE SOUTH PACIFIC
  		LAUCALA CAMPUS PRIVATE MAIL BAG
SUVA    
FJ 		2024-05-01 7,397 OCEAN CONSERVATION 7,397 NONE 11/28/24    
UTO NI YALO TRUST
  		NATIONAL SAILING CENTER
SUVA POINT    
FJ 		2024-07-29 25,000 OCEAN CONSERVATION 25,000 NONE 11/13/24    
WAITT INSTITUTE
  		PO BOX 559
NORTH SIOUX CITY,SD57049 		2024-12-31 7,000,000 OCEAN CONSERVATION 0 NONE MONTHLY REPORTS THROUGHOUT 2024    
BARBUDANGO
  		CODRINGTON VILLAGE
CODRINGTON    
AC 		2024-12-09 30,000 OCEAN CONSERVATION 0 NONE 6/23/25    

TY 2024 InvestmentsCorpBondsSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Name of Bond End of Year Book Value End of Year Fair Market Value
ALPS CORE COMMODITY 2,556,991 2,556,991
FIXED INCOME FUND - FIRST PACIFIC ADVISORS(FPA) 5,559,583 5,559,583
FIXED INCOME FUND - METROPLITAN WEST 10,493,456 10,493,456
FIXED INCOME FUND - PIMCO 1,801,533 1,801,533

TY 2024 InvestmentsCorpStockSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Name of Stock End of Year Book Value End of Year Fair Market Value
ARKE FOCUS FUND 6,780,462 6,780,462
ARTISAN FOCUS FUND 3,282,790 3,282,790
ARTISAN GROWTH OPP FUND 5,800,723 5,800,723
ARTISAN SMALL CAP 1,070,866 1,070,866
DODGE & COX 3,121,676 3,121,676
EQUITIES - RIVER ROAD 4,887,568 4,887,568
ISHARES CORE S&P 500 4,748,882 4,748,882
HARDING LOEVNER INTL 2,418,147 2,418,147
T ROWE PRICE 692,695 692,695
OPPENHEIMER DEVELOPING MARKETS FUND 3,109,661 3,109,661

TY 2024 InvestmentsOtherSchedule2
Name:
WAITT FOUNDATION
EIN:
46-0428166
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
AEQUIM ARBITRAGE FMV 2,492,641 2,492,641
AG CAPITAL RECOVERY VIII HOLDINGS FMV 4,207 4,207
AG SUPER FUND INT'L LTD FMV 2,186,569 2,186,569
AKO LIMITED FUND FMV 3,627,148 3,627,148
ALKEON GROWTH OFFSHORE FUND FMV 4,045,140 4,045,140
ATHENA SELECT - LITHIC FMV 3,099,606 3,099,606
BLACKSTONE TACTICAL OPPS FUND FMV 365,999 365,999
BLACKSTONE TACTICAL OPPS FUND III FMV 899,425 899,425
CADIAN OFFSHORE FUND FMV 1,531,112 1,531,112
CANYON LAUREL INVESTMENT FUND FMV 36,952 36,952
CANYON LAUREL INVESTMENT FUND II FMV 708,684 708,684
CHARLESBANK EQUITY FUND FMV 4,024,301 4,024,301
CHILDREN'S INVESTMENT FUND FMV 4,601,356 4,601,356
CLAYTON, DUBILIER & RICE FUND XII FMV 880,307 880,307
CRC GLOBAL STRUCTURED CR FUND FMV 516,295 516,295
D.E. SHAW COMPOSITE INT'L FMV 7,113,611 7,113,611
FARALLON CAPITAL FMV 5,076,595 5,076,595
FIXED INCOME FUND - COLCHESTER GLOBAL BOND FMV 2,875,834 2,875,834
FIXED INCOME FUND - OAKTREE ENHANCED INCOME FMV 8,636 8,636
FOLIUM CAPITAL AGRICULTURE FUND FMV 1,129,632 1,129,632
FOLIUM CAPITAL TIMBER FUND FMV 1,435,256 1,435,256
GENERATION IM GLOBAL EQUITY FUND FMV 3,158,231 3,158,231
GLOBAL EVENT PARTNERS FMV 2,454,653 2,454,653
Q-BLK REAL ASSETS LP FMV 156,463 156,463
STEPSTONE VC GLOBAL PARTNERS IX-B FMV 1,045,778 1,045,778
STEPSTONE VC GLOBAL PARTNERS V-B FMV 2,285,711 2,285,711
STEPSTONE VC GLOBAL PARTNERS VII-B FMV 3,129,031 3,129,031
UBS TRUMBULL PROPERTY FMV 1,455,740 1,455,740
US VENTURE PARTNERS XII FMV 1,198,046 1,198,046
VARDE FUND XII FMV 427,489 427,489
VARDE FUND XIII FMV 758,918 758,918
VIVO CAPITAL VIII FMV 491,155 491,155
VIVO VENTURES FUND FMV 138,583 138,583
WAVE EQUITY FUND FMV 1,959,938 1,959,938

TY 2024 LandEtcSchedule2
Name:
WAITT FOUNDATION
EIN:
46-0428166
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
FURNITURES & FIXTURES 336,431 318,448 17,983 17,983
EQUIPMENT 0 0    
SOFTWARE 15,197 15,197 0  


TY 2024 OtherAssetsSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
RIGHT OF USE ASSET 475,874 356,001 356,001
ACCOUNTS RECEIVABLE 1,030,926 1,801,543 1,801,543


TY 2024 OtherExpensesSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INFORMATION TECHNOLOGIES 35,070 0   35,070
INSURANCE 9,365 0   9,365
OFFICE SUPPLIES 10,930 0   10,377
OUTSIDE SERVICES 1,308 0   1,308
POSTAGE 68 0   68
SUBSCRIPTIONS 2,524 0   2,524
PERMITS & LICENSES 200 0   200
MISCELLANEOUS 1,189 0   1,189
COMMUNICATIONS 2,977 0   2,977
BANK FEES 447 0   447


TY 2024 OtherIncomeSchedule2
Name:
WAITT FOUNDATION
EIN:
46-0428166
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PARTNERSHIP INCOME PER SCHEDULE K-1S   629,409 0
TAXABLE DISTRIBUTIONS FROM PFICS   278,789 0
PARTNERSHIP INCOME PER BOOKS 126,225   126,225


TY 2024 OtherIncreasesSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Description Amount
UNREALIZED GAINS/LOSSES 1,586,627
BOOK/TAX DIFFERENCE - ALTERNATIVE INVESTMENTS 5,440,962


TY 2024 OtherLiabilitiesSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Description Beginning of Year - Book Value End of Year - Book Value
LEASE LIABILITY 481,328 363,162


TY 2024 OtherProfessionalFeesSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 145,100 145,100   0
PROFESSIONAL FEES 162,224 162,224   0
INVESTMENT MSA FEE 185,000 185,000   0
COMMUNICATIONS 549 0   549
CONTRACT LABOR 86,986 0   97,371


TY 2024 TaxesSchedule
Name:
WAITT FOUNDATION
EIN:
46-0428166
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 7,549 0   0
FOREIGN TAXES 15,296 15,296   0