Civic Intelligence

Wps2 Fund

990 • Fiscal year 2022 • EIN 86-3249698

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 12, 2023

Organization Profile
PO Box 1860Bentonville, AR 72712

(479) 464-1500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • $250M-$1B nonprofits • Source year 2022

Liabilities / Revenue

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • $250M-$1B nonprofits • Source year 2022

Net Margin

98th percentile

98%

Higher net margin than 98% of similar nonprofits.

2022 filings • $250M-$1B nonprofits • Source year 2022

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • $250M-$1B nonprofits • Source year 2022

Asset Growth

99th percentile

364%

Faster asset growth than 99% of similar nonprofits.

2022 filings • $250M-$1B nonprofits • Annualized from 2021 to 2022

Revenue Growth

100th percentile

18483%

Faster revenue growth than 100% of similar nonprofits.

2022 filings • $250M-$1B nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets6th percentile

Assets

Up

$270,868,207

Up $212,473,724 (+364%) from 2021

Net Assets

Up

$270,868,207

Up $270,723,724 (+187374%) from 2021

Liabilities

Down

$0

Down $58,250,000 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin98th percentile

Revenue

Up

$276,082,637

Up $274,596,997 (+18483%) from 2021

Expenses

Up

$5,358,913

Up $4,017,756 (+300%) from 2021

Net Income

Up

$270,723,724

Up $270,579,241 (+187274%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2021: $58,394,483Liabilities 2021: $58,250,000Net Assets 2021: $144,4832021Assets 2022: $270,868,207Liabilities 2022: $0Net Assets 2022: $270,868,2072022Assets 2023: $266,602,480Liabilities 2023: $0Net Assets 2023: $266,602,4802023Assets 2024: $262,754,515Liabilities 2024: $0Net Assets 2024: $262,754,5152024

Highlighted filing

2022

Assets$270,868,207
Liabilities$0
Net Assets$270,868,207
Open 2022 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0-$100MRevenue 2021: $1,485,640Expenses 2021: $1,341,157Net Income 2021: $144,4832021Revenue 2022: $276,082,637Expenses 2022: $5,358,913Net Income 2022: $270,723,7242022Revenue 2023: $915,804Expenses 2023: $5,181,531Net Income 2023: -$4,265,7272023Revenue 2024: $1,114,380Expenses 2024: $4,962,345Net Income 2024: -$3,847,9652024

Highlighted filing

2022

Revenue$276,082,637
Expenses$5,358,913
Net Income$270,723,724
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 12, 2023
Return Version
2022v5.0
Gross Receipts
$600,264,991
Mission and Program Overview

Mission

WPS2 Fund is organized, and shall be operated exclusively, for civic and social welfare purposes. In particular, the purpose of the Corporation is to support innovations and reforms to improve public and private K-12 education for the benefit of all students. The Corporation will support and foster such innovations and reforms through mission-related investments, grants to nonprofit organizations, and conducting such other activities as determined by the Corporation's Board of Directors.

The organization's mission is to support innovations and reforms to improve public and private K-12 education for the benefit of all students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$144,483$270,868,207▲ $270,723,724
Investments Other Securities$58,394,483$205,807,960▲ $147,413,477
Investments in Publicly Traded Securities-$63,451,693-
Loans From Officers Directors$58,250,000$0▼ $58,250,000
Savings and Temporary Cash Investments-$1,608,554-
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$58,394,483$270,868,207▲ $212,473,724
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$0$0→ $0
Total Liabilities$58,250,000$0▼ $58,250,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$144,483$270,868,207▲ $270,723,724
Total Liabilities and Net Assets / Fund Balance$58,394,483$270,868,207▲ $212,473,724

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$76,057,604--
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
-Director, President, Treasurer
-Director
-DIRECTOR FROM 01/01/2022 - 10/15/2022; SECRETARY
Revenue and Support

Revenue Composition

Contributions and Grants
$307,809,150
Program Service Revenue
$0
Investment Income
$-31,726,513
Other Revenue
$0
All Other Contributions
$307,809,150
Change in Net Assets
$270,723,724

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$307,809,150Other - HIGH/LOW AVG NYSE
Total Noncash Contributions3$307,809,150-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,358,913
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$5,259,890--$5,259,890
Interest$84,572--$84,572
Fees for Services Legal-$7,975-$7,975
Fees for Services Accounting-$3,654-$3,654
Fees for Service Investment Mgmnt Fees-$2,500-$2,500
All Other Expenses$0$322$0$322
Total Functional Expenses$5,344,462$14,451$0$5,358,913
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-35% controlled entity of a substantial contributorPrincipal and Interest PaymentNo$66,084,570

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$58,250,000$0▼ $58,250,000
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6 Classes of members or stockholders

“The Corporation has one class of members.”

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“The Organization's members have the power to elect the Organization's Board of Directors.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“After preparation and review of the form 990 has been completed, the form is submitted to the board of directors for final approval prior to filing of the return.”

Form 990, Part VI, Line 12C Conflict of interest policy

“A director who is directly or indirectly a party to a potential transaction with the Organization is required to disclose the material facts and interest in the transaction prior to action by the Organization on the transaction. Approval of the transaction is by a majority of the disinterested directors.”

Form 990, Part VI, Line 19 Required documents available to the public

“The Organization's Certificate of Incorporation is available from the Delaware Secretary of State. Financial information is available on the Organization's Form 990.”

Filing and Contact Details

Filer

Filer Name
WPS2 Fund
EIN
86-3249698
Phone
4794641500
Address
PO Box 1860, Bentonville, AR 72712

Signing Officer

Name
Buddy Philpot
Title
President
Phone
4794641500
Signed
2023-10-12
Discuss with paid preparer
Yes

Organization Details

Formed
2021
Legal Domicile
De
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
3

Preparer

Firm
Walton Enterprises LLC
Address
PO BOX 1860, BENTONVILLE, AR 72712
Preparer
Luke C Mitchell
Phone
4794641500
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0WPS2 Fund is organized, and shall be operated exclusively, for civic and social welfare purposes. In particular, the purpose of the Corporation is to support innovations and reforms to improve public and private K-12 education for the benefit of all students. The Corporation will support and foster such innovations and reforms through mission-related investments, grants to nonprofit organizations, and conducting such other activities as determined by the Corporation's Board of Directors.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Corporation has one class of members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization's members have the power to elect the Organization's Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AFTER PREPARATION AND REVIEW OF THE FORM 990 HAS BEEN COMPLETED, THE FORM IS SUBMITTED TO THE BOARD OF DIRECTORS FOR FINAL APPROVAL PRIOR TO FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A director who is directly or indirectly a party to a potential transaction with the Organization is required to disclose the material facts and interest in the transaction prior to action by the Organization on the transaction. Approval of the transaction is by a majority of the disinterested directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization's Certificate of Incorporation is available from the Delaware Secretary of State. Financial information is available on the Organization's Form 990.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6 Classes of members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19 Required documents available to the public
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd1DE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.8
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct11
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0Related
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt1Related
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0Investment Fund
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1INVESTMENTS
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0A-Street Ventures LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1ASV GM 2022 LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt0129951667
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt176064747
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt0-4908913
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt1-338244
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0PO Box 1860
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt1PO BOX 1860
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0Bentonville
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm1BENTONVILLE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0AR
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd1AR
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd072712
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd172712
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt076264425
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt176395848
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH - CONTRIBUTION OF CAPITAL
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH - CONTRIBUTION OF CAPITAL
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0A-Street Ventures LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1ASV GM 2022 LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1B
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt058394483
IRS990/TotalAssetsEOYAmt0270868207
IRS990/TotalAssetsGrp/BOYAmt058394483
IRS990/TotalAssetsGrp/EOYAmt0270868207
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0307809150
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014451
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05344462
IRS990/TotalFunctionalExpensesGrp/TotalAmt05358913
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt058250000
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt058250000
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0144483
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0270868207
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt05344462
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-31726513
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0276082637
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt058394483
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0270868207
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0true
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 1860
IRS990/USAddress/CityNm0Bentonville
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072712
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Buddy Philpot
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum04794641500
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WPS2 Fund
ReturnHeader/Filer/BusinessNameControlTxt0WPS2
ReturnHeader/Filer/EIN0863249698
ReturnHeader/Filer/PhoneNum04794641500
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 1860
ReturnHeader/Filer/USAddress/CityNm0Bentonville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072712
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621665434
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WALTON ENTERPRISES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1860
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BENTONVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072712
ReturnHeader/PreparerPersonGrp/PhoneNum04794641500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LUKE C MITCHELL
ReturnHeader/ReturnTs02023-10-12T15:30:06+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Buddy
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Philpot
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$270,868,207
Liabilities
$0
Net assets
$270,868,207
Revenue
$276,082,637
Expenses
$5,358,913
Net income
$270,723,724
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$263$0.00$263$1.11$4.96$3.85
2023Detailed filing. Detailed filing data is available for this year.$267$0.00$267$0.92$5.18$4.27
2022Detailed filing. Detailed filing data is available for this year.$271$0.00$271$276$5.36$271
2021Detailed filing. Detailed filing data is available for this year.$58.4$58.3$0.14$1.49$1.34$0.14