{"success":true,"data":{"_id":261550326,"filings":[{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"The wisconsin covenant foundation, inc. Provided grant assistance to low-income students and others for post-secondary education in wisconsin in support of the wisconsin covenant program and similar postsecondary educational access and/or persistence initiatives. The wisconsin covenant program was memorialized in the wisconsin covenant memorandum of understanding executed on september 6, 2006 among the wisconsin governor, the wisconsin department of public instruction, the wisconsin technical college system, the university of wisconsin system and the wisconsin association of independent colleges and universities. This mission statement was reviewed, acknowledged and approved by the board.","primary_activities":"The Wisconsin Covenant Foundation, Inc. provided grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives. The goals of the Wisconsin Covenant Program were to promote access to higher education, success in higher education and affordability of higher education. The Wisconsin Covenant Foundation, Inc. distributed funds to the eligible Wisconsin Covenant Program students and institutions to better lives and Wisconsin's future through higher education.\n\nWisconsin Workforce Partnership Grants provided funding to Wisconsin technical colleges to make significant investments in equipment, supplies and specialized instruction to provide training in advanced manufacturing. The goal of the Wisconsin Workforce Partnership was to facilitate collaboration between technical colleges and partner businesses to develop program curricula that will benefit all students enrolled in these manufacturing programs.\n\nThe Wisconsin Covenant Foundation, Inc. in an effort to further promote access to higher education, success in higher education and affordability of higher education, as well as to reduce administrative costs in support of the same, provided a grant to Great Lakes Higher Education Guaranty Corporation (GLHEGC). GLHEGC will continue to provide grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives in place of the work previously done by the Wisconsin Covenant Foundation, Inc.\n\nTo provide grant assistance to low-income students and others for post-secondary education in wisconsin in support of the wisconsin covenant program and similar postsecondary educational access and/or persistence initiatives. -----------------------------------------------------------------------\n\nEffective as of june 30, 2013, wisconsin covenant foundation, inc. (foundation) was dissolved. All program services of the foundation are presently being continued to be performed by great lakes higher education guaranty corporation (glhegc) (39-1853833), a tax-exempt organization under internal revenue code section 501(c)(3). --------------------------------------------------------------------------","year":2012,"name":"Wisconsin Covenant Foundation Inc","phone":"6082461410","website":"www.wisconsincovenantfoundation.org","type":"990","principal_officer":"Richard D George","year_formation":2007,"state_legal_domicile":"WI","total_volunteers":0,"tax_period_begin":"2012-07-01T00:00:00","tax_period_end":"2013-06-30T00:00:00","address":"2401 International Lane, Madison, WI, 53704, USA","city":"Madison","state":"WI","country":"USA","zip_code":"53704"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":5,"Number of employees total":0,"Total Gross UBI":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":false,"Document retention policy":false,"Investment in joint venture":false,"Independent audit financial statements":false,"Consolidated audit financial statements":false,"Accountant compile or review":false,"Financial statements audited by independent accountant":false,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":false,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":84516,"Contributions":{"value":37290,"Other contributions":37290},"Program revenue":{"value":0},"Investment income":{"value":47226,"Investment income total":47226,"Net investment gain":0,"Income from invest bond proceeds":0},"Other revenues":{"value":0,"Other total":0,"Royalties revenue":0,"Net rental income":0,"Net income from fundraising events":0,"Net income from gaming":0,"Net income":0}},"Expenses":{"value":40964992,"Grant expense":{"value":40918173,"Grants to domestic orgs":38217524,"Grants to domestic individuals":2700649,"Foreign grants":0},"Total professional fundraising expense":{"value":0,"Fundraising professional":0},"Benefits paid to members":{"value":0,"Benefits paid to members Total":0},"Salaries":{"value":0,"Current officers":0,"Disqualified persons":0,"Other salaries and wages":0,"Pension plan contributions":0,"Other employee benefits":0,"Payroll taxes":0},"Other expenses":{"value":46819,"Management services":0,"Legal":118,"Accounting":25188,"Lobbying services":0,"Investment management fees":0,"Other services":4998,"Advertising":0,"Office expenses":9743,"Information technology":0,"Royalties":0,"Occupancy":0,"Travel":0,"Conferences and meetings":0,"Interest":0,"Payments to affiliates":0,"Depreciation and depletion":0,"Insurance":6607,"Travel entertainment public officials":0,"Itemized Expenses":165}},"Assets":{"value":0,"Non-interest bearing cash":0,"Savings and temp cash investments":0,"Pledges and grants receivable":0,"Accounts receivable":0,"Receivables from officers":0,"Receivables from disqual persons":0,"Other net note and loans":0,"Inventories for sale or use":0,"Prepaid expenses deferred charges":0,"Investments publicly traded":0,"Investments other":0,"Investments program related":0,"Intangible assets":0,"Other assets":0},"Liabilities":{"value":0,"Accounts payable, accrued":0,"Grants payable":0,"Deferred, revenue":0,"Tax exempt bond liabilities":0,"Escrow account liability":0,"Loans from officers, directors":0,"Secured mortgages and notes payable":0,"Unsecured notes loans payable":0,"Other liabilities":0},"Fund balance":{"value":0},"Form990Details":{"program_service_accomplishments":[{"description":"The Wisconsin Covenant Foundation, Inc. provided grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives. The goals of the Wisconsin Covenant Program were to promote access to higher education, success in higher education and affordability of higher education. The Wisconsin Covenant Foundation, Inc. distributed funds to the eligible Wisconsin Covenant Program students and institutions to better lives and Wisconsin's future through higher education.","expense":2700649,"grants":2700649},{"description":"Wisconsin Workforce Partnership Grants provided funding to Wisconsin technical colleges to make significant investments in equipment, supplies and specialized instruction to provide training in advanced manufacturing. The goal of the Wisconsin Workforce Partnership was to facilitate collaboration between technical colleges and partner businesses to develop program curricula that will benefit all students enrolled in these manufacturing programs.","expense":1497318,"grants":1497318},{"description":"The Wisconsin Covenant Foundation, Inc. in an effort to further promote access to higher education, success in higher education and affordability of higher education, as well as to reduce administrative costs in support of the same, provided a grant to Great Lakes Higher Education Guaranty Corporation (GLHEGC). GLHEGC will continue to provide grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives in place of the work previously done by the Wisconsin Covenant Foundation, Inc.","expense":36720206,"grants":36720206}],"functional_expense_allocations":{"current_officers_directors":{"total":0},"disqualified_persons":{"total":0},"other_salaries_and_wages":{"total":0},"pension_plan_contributions":{"total":0},"other_employee_benefits":{"total":0},"payroll_taxes":{"total":0},"management_fees":{"total":0},"legal_fees":{"management_and_general":118,"total":118},"accounting_fees":{"management_and_general":25188,"total":25188},"lobbying_fees":{"total":0},"professional_fundraising_fees":{"total":0},"investment_management_fees":{"total":0},"other_service_fees":{"management_and_general":4998,"total":4998},"advertising":{"total":0},"office_expenses":{"management_and_general":9743,"total":9743},"information_technology":{"total":0},"royalties":{"total":0},"occupancy":{"total":0},"travel":{"total":0},"conferences_meetings":{"total":0},"interest":{"total":0},"payments_to_affiliates":{"total":0},"depreciation_depletion":{"total":0},"insurance":{"management_and_general":6607,"total":6607}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"backup_withholding_compliance":true,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_vi":true},"principal_officer_detail":{"person_name":"Richard D George","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":false,"related_org_controlled_entity":false,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":true,"grants_to_individuals":true,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":0,"grants_payable_end_of_year":0},"books_are_in_care_of":{"person_name":"NANCY SEIFERT","phone":"6082461410","address_line1":"2401 INTERNATIONAL LANE","city":"Madison","state":"WI","zip":"53704"},"officers_directors_key_employees":[{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Treasurer & Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Director","average_hours_per_week":1.0,"individual_trustee_or_director":true,"officer":true}]},"ScheduleA":{"public_charity_status":{"publicly_supported_org_170b1_avi":true},"support_170":{"gifts_grants_contributions":{"value":615073,"current_year":37290,"current_year_minus1":133713,"current_year_minus2":373676,"current_year_minus3":31658,"current_year_minus4":38736},"tax_revenues_levied_for_org_benefit":{"value":0},"total_calendar_year_support":{"value":615073,"current_year":37290,"current_year_minus1":133713,"current_year_minus2":373676,"current_year_minus3":31658,"current_year_minus4":38736},"amounts_from_substantial_contributors":341960,"public_support_total":273113,"gross_investment_income":{"value":788459,"current_year":47226,"current_year_minus1":130777,"current_year_minus2":119339,"current_year_minus3":58259,"current_year_minus4":432858},"other_income":{"value":0},"unrelated_business_net_income":{"value":0},"total_support":1403532,"public_support_percentage":0.19459},"support_509":{"ten_percent_test_current_year":true},"support_170_prior_schema":{"value_services_facilities_by_government":{"total":0},"value_services_facilities_by_government_prior":{"total":0}},"supplemental_information":{"general":{"explanation":["Great Lakes Higher Education Corporation, a substantial contributor, had a services agreement with Wisconsin Covenant Foundation, Inc. (Foundation) to provide certain management and administrative services and to act as the Foundation's principal agent. These services were provided to the Foundation at a nominal cost of $1.00/annum as an additional means of support to the Foundation to enable its resources to be applied exclusively to its charitable mission. Schedule A, Part II, Line 1: Contributed services relate to expenses paid on behalf of the Wisconsin Covenant Foundation, Inc. and are included as contributions.","Other Additional Information: Great Lakes Higher Education Corporation, a section 501(c)(3) charity, operates for the support and benefit of great lakes higher education guaranty corporation (GLHEGC) and northstar guarantee inc. (Northstar). GLHEGC and northstar ensure enablement of access to post-secondary education by providing cost effective guaranty agency services and, prospectively, lower cost or otherwise unavailable funding for federally guaranteed loans to students and parents and/or alternative non-federally guaranteed loans. Wisconsin Covenant Foundation, Inc. (Foundation) was incorporated on October 31, 2007, as a nonstock, nonprofit corporation organized for charitable and educational purposes, including specifically assisting low-income students in paying for the cost of post-secondary education in Wisconsin. The Foundation worked with the Wisconsin Covenant Program (Program) to provide grants to students attending a higher education institution who met the eligibility requirements of the Program. The program was memorialized in the Wisconsin Covenant Memorandum of Understanding executed on September 6, 2006 among the Wisconsin Governor, the Wisconsin Department of Public Instruction, the Wisconsin Technical College System, the University of Wisconsin System and the Wisconsin Association of Independent Colleges and Universities. The goals of the program were to promote access to higher education, success in higher education and affordability of higher education.","The Wisconsin Covenant Foundation (Foundation) meets the 10% public support requirement under the facts-and-circumstances test for the year ended June 30, 2013. Primarily as a result of state legislation that prospectively terminated state support for the Program, The Foundation has not been as successful as originally anticipated in generating significant public donations over the last few years due in part to economic difficulties encountered by those individuals and organizations that are most likely to donate funds to assist students who attend a higher education institution. Over the past fiscal year, the Foundation attempted to attract public support of its mission by maintaining a website where donations can be made and by expanding its visibility through offering new Wisconsin Workforce Partnership Grants."]}}},"ScheduleB":{"attached":true,"required":true},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_org_grants":38217524,"reported_domestic_individual_grants":2700649,"reported_domestic_org_grants_program_services":38217524,"reported_domestic_individual_grants_program_services":2700649,"total_501c3_and_government_organizations":5,"total_other_organizations":0,"grants":[{"ein":391853833,"irc_section":"501(c)(3)","cash":36480184,"noncash":240022,"purpose":"Post Secondary Education Grant","noncash_description":"Grant","valuation_method":"BOOK","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704","name":"Great Lakes Higher Education Guaranty Corp","address":"2401 International Lane, Madison, WI, 53704"},{"ein":391290708,"irc_section":"501(c)(3)","cash":323435,"purpose":"WI Workforce Partnership","address_line1":"3520 30th Ave","city":"Kenosha","state":"WI","zip":"53144","name":"Gateway Technical College","address":"3520 30th Ave, Kenosha, WI, 53144"},{"ein":391088212,"irc_section":"501(c)(3)","cash":231342,"purpose":"WI Workforce Partnership","address_line1":"235 N National Ave","city":"Fond du Lac","state":"WI","zip":"54935","name":"Moraine Park Technical College","address":"235 N National Ave, Fond du Lac, WI, 54935"},{"ein":391086910,"irc_section":"501(c)(3)","cash":378384,"purpose":"WI Workforce Partnership","address_line1":"5364 College Drive","city":"Rhinelander","state":"WI","zip":"54501","name":"Nicolet Area Technical College","address":"5364 College Drive, Rhinelander, WI, 54501"},{"ein":391828080,"irc_section":"501(c)(3)","cash":564157,"purpose":"WI Workforce Partnership","address_line1":"1800 Bronson Blvd","city":"Fennimore","state":"WI","zip":"53809","name":"Southwest Wisconsin Technical College","address":"1800 Bronson Blvd, Fennimore, WI, 53809"}],"individual_grants":[{"type":"Wisconsin Covenant Scholar Program","recipient_count":2392,"cash":2700649,"noncash_description":"See Part IV"}],"total_domestic_grants":40918173,"total_domestic_program_services":40918173,"detail_org_grants_total":38217524,"detail_individual_grants_total":2700649,"detail_domestic_grants_total":40918173,"supplemental_information":[{"identifier":"Form 990, Schedule I","form_and_line_reference":"Description of Organization's Procedures for Monitoring the Use of Grants","explanation":"In The United States: Wisconsin Covenant Foundation, Inc. (Foundation) received periodic reports detailing the distribution of the Wisconsin Covenant Scholar grant funds to postsecondary schools (who disbursed the grants directly to the recipients). The recipients were determined based on criteria defined by the Program and no individual recipient receives more than $1,500 per year. In addition, the Foundation received data on the number of students completing the manufacturing training programs and their resulting job placements from those technical colleges participating in the Wisconsin Workforce Partnership Program."}],"grant_monitoring":{"claims_monitoring_procedures":false,"requires_financial_reports":false,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false}},"ScheduleF":{"reported_foreign_grants":0},"ScheduleN":{"termination_or_liquidation":{"assets_distributed":true,"liabilities_paid":true,"bonds_outstanding":false,"required_to_notify_attorney_general":false},"successor_relationships":{"director_of_successor":false,"employee_of_successor":false,"owner_of_successor":false},"liquidations":[{"person_name":"Great Lakes Higher Education Guaran","ein":391853833,"irc_section":"501(c)(3)","distribution_date":"2013-06-30T00:00:00","description":"Cash Grant","fair_market_value":36480184,"method_of_fmv_determination":"Actual Cost","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704","name":"Great Lakes Higher Education Guaran","address":"2401 International Lane, Madison, WI, 53704"},{"person_name":"Great Lakes Higher Education Guaran","ein":391853833,"irc_section":"501(c)(3)","distribution_date":"2013-06-30T00:00:00","description":"Additional Grant Amount","fair_market_value":240022,"method_of_fmv_determination":"Actual Cost","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704","name":"Great Lakes Higher Education Guaran","address":"2401 International Lane, Madison, WI, 53704"}],"supplemental_information":[{"identifier":"Schedule N, Part I:","form_and_line_reference":"Dissolution of Corporation","explanation":"This form 990 for year ended June 30, 2013 represents the final return for the Wisconsin Covenant Foundation, Inc. (Foundation). Effective June 30, 2013, the Foundation was dissolved and the remaining assets were transferred via a grant to Great Lakes Higher Education Guaranty Corporation (GLHEGC) (39-1853833). GLHEGC is a tax-exempt organization under Internal Revenue Code section 501(c)(3) that operates to provide cost effective access to postsecondary education. GLHEGC will continue to support the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives in place of the work previously done by the Foundation. Attached are copies of the Articles of Dissolution."}]},"source_xml":"201302909349300500_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"To provide grant assistance to low-income students for their post-secondary education in wisconsin in support of the wisconsin covenant program.","primary_activities":"The wisconsin covenant foundation, inc. Shall provide grant assistance to low-income students for their post-secondary education in wisconsin in support of the wisconsin covenant program, as memorialized in the wisconsin covenant memorandum of understanding executed on september 6, 2006 among the wisconsin governor, the wisconsin department of public instruction, the wisconsin technical college system, the university of wisconsin system and the wisconsin association of independent colleges and universities. This mission statement has been reviewed, acknowledged and approved by the board.","year":2009,"name":"WISCONSIN COVENANT FOUNDATION INC","phone":"6082461410","website":"www.wisconsincovenantfoundation.org","type":"990","principal_officer":"Richard George","year_formation":2007,"state_legal_domicile":"WI","total_volunteers":0,"tax_period_begin":"2009-07-01T00:00:00","tax_period_end":"2010-06-30T00:00:00","address":"2401 International Lane, Madison, WI, 53704, USA","city":"Madison","state":"WI","country":"USA","zip_code":"53704"},"Governance":{"501c determination":true,"Number of voting members":6,"Number of independent voting members":6,"Number of employees total":0,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":false,"Document retention policy":false,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":false,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":false,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":89917,"Contributions":{"value":31658,"Other contributions":31658},"Program revenue":{"value":0},"Investment income":{"value":58259,"Investment income total":58259,"Net investment gain":0,"Income from invest bond proceeds":0},"Other revenues":{"value":0,"Other total":0,"Royalties revenue":0,"Net income from fundraising events":0,"Net income from gaming":0,"Net income":0}},"Expenses":{"value":30158,"Grant expense":{"value":0,"Grants to domestic orgs":0,"Grants to domestic individuals":0,"Foreign grants":0},"Total professional fundraising expense":{"value":0,"Fundraising professional":0},"Benefits paid to members":{"value":0,"Benefits paid to members Total":0},"Salaries":{"value":0,"Current officers":0,"Disqualified persons":0,"Other salaries and wages":0,"Pension plan contributions":0,"Other employee benefits":0,"Payroll taxes":0},"Other expenses":{"value":30158,"Management services":0,"Legal":283,"Accounting":21000,"Lobbying services":0,"Investment management fees":0,"Other services":2275,"Advertising":0,"Office expenses":0,"Information technology":0,"Royalties":0,"Occupancy":0,"Travel":0,"Conferences and meetings":0,"Interest":0,"Payments to affiliates":0,"Depreciation and depletion":0,"Insurance":6600,"Travel entertainment public officials":0}},"Assets":{"value":41034323,"Non-interest bearing cash":12,"Savings and temp cash investments":41013000,"Prepaid expenses deferred charges":15546,"Other assets":5765},"Liabilities":{"value":0},"Fund balance":{"value":41034323},"Form990Details":{"program_service_accomplishments":[{"description":"THE WISCONSIN COVENANT FOUNDATION, INC. SHALL PROVIDE GRANT ASSISTANCE TO LOW-INCOME STUDENTS FOR THEIR POST-SECONDARY EDUCATION IN WISCONSIN IN SUPPORT OF THE WISCONSIN COVENANT PROGRAM, AS MEMORIALIZED IN THE WISCONSIN COVENANT MEMORANDUM OF UNDERSTANDING EXECUTED ON SEPTEMBER 6, 2006 AMONG THE WISCONSIN GOVERNOR, THE WISCONSIN DEPARTMENT OF PUBLIC INSTRUCTION, THE WISCONSIN TECHNICAL COLLEGE SYSTEM, THE UNIVERSITY OF WISCONSIN SYSTEM AND THE WISCONSIN ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES. THIS MISSION STATEMENT HAS BEEN REVIEWED, ACKNOWLEDGED AND APPROVED BY THE BOARD."}],"functional_expense_allocations":{"current_officers_directors":{"total":0},"disqualified_persons":{"total":0},"other_salaries_and_wages":{"total":0},"pension_plan_contributions":{"total":0},"other_employee_benefits":{"total":0},"payroll_taxes":{"total":0},"management_fees":{"total":0},"legal_fees":{"management_and_general":283,"total":283},"accounting_fees":{"management_and_general":21000,"total":21000},"lobbying_fees":{"total":0},"professional_fundraising_fees":{"total":0},"investment_management_fees":{"total":0},"other_service_fees":{"management_and_general":2275,"total":2275},"advertising":{"total":0},"office_expenses":{"total":0},"information_technology":{"total":0},"royalties":{"total":0},"occupancy":{"total":0},"travel":{"total":0},"conferences_meetings":{"total":0},"interest":{"total":0},"payments_to_affiliates":{"total":0},"depreciation_depletion":{"total":0},"insurance":{"management_and_general":6600,"total":6600}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"backup_withholding_compliance":true,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true},"principal_officer_detail":{"person_name":"Richard George","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"audited_financial_statement_separate":true,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":false,"related_org_controlled_entity":false,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":false,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false},"books_are_in_care_of":{"person_name":"NANCY SEIFERT","phone":"6082461410","address_line1":"2401 INTERNATIONAL LANE","city":"MADISON","state":"WI","zip":"53704"},"officers_directors_key_employees":[{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"DIRECTOR","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true}]},"ScheduleA":{"public_charity_status":{"publicly_supported_org_170b1_avi":true},"support_170":{"first_five_years":true,"gifts_grants_contributions":{"value":169418,"current_year":31658,"current_year_minus1":38736,"current_year_minus2":99024},"total_calendar_year_support":{"value":169418,"current_year":31658,"current_year_minus1":38736,"current_year_minus2":99024},"amounts_from_substantial_contributors":143383,"public_support_total":26035,"gross_investment_income":{"value":1032323,"current_year":58259,"current_year_minus1":432858,"current_year_minus2":541206},"total_support":1201741},"supplemental_information":{"general":{"explanation":["Great Lakes Higher Education Corporation, a substantial contributor, has a services agreement with Wisconsin Covenant Foundation, Inc. (Foundation) to provide certain management and administrative services and to act as the foundation's principal agent. These services are provided to the foundation at a nominal cost of $1.00/annum as an additional means of support to the foundation to enable its resources to be applied exclusively to its charitable mission.","Due to a change in year-end, a short period return was filed for the time period January 1, 2008 through June 30, 2008. Therefore, the years listed on schedule A, Part II correspond to the time frames as listed below: 2009 = July 1, 2009 through June 30, 2010 2008 = July 1, 2008 through June 30, 2009 2007 = October 31, 2007 through December 31, 2007 & January 1, 2008 through June 30, 2008","Contributed services for tax years beginning 10/31/07 and 07/01/08 of $99,024 and $38,736, respectively, were not reported on the prior years' Form 990s. These amounts relate to expenses paid on behalf of Wisconsin Convenant Foundation, Inc. and are considered contributions. Therefore, the amounts related to contributed services are being included as Contributions in Schedule A, Part II, line 1.","Great Lakes Higher Education Corporation, a section 501(c)(3) charity, operates for the support and benefit of great lakes higher education guaranty corporation (GLHEGC) and northstar guarantee inc. (Northstar). GLHEGC and northstar ensure enablement of access to post-secondary education by providing cost effective guaranty agency services and, prospectively, lower cost or otherwise unavailable funding for federally guaranteed loans to students and parents and/or alternative non-federally guaranteed loans. Wisconsin Covenant Foundation, Inc. (the Foundation) was incorporated on October 31, 2007, as a nonstock, nonprofit corporation organized for charitable and educational purposes, including specifically assisting low-income students in paying for the cost of post-secondary education in Wisconsin. The Foundation will work with the Wisconsin Covenant Program (the Program) to provide grants to students attending a higher education institution who meet the eligibility requirments of the Program. The program was memorialized in the Wisconsin Covenant Memorandum of Understanding executed on September 6, 2006 among the Wisconsin Governor, the Wisconsin Department of Public Instruction, the Wisconsin Technical College System, the University of Wisconsin System and the Wisconsin Association of Independent Colleges and Universities. The goals of the program are to promote access to higher education, success in higher education, and affodability of higher education. On December 18, 2007, Great Lakes Higher Education Corporation signed a $40,000,000 contribution agreement with the Foundation in support of the program. On December 27, 2007, the $40,000,000 pledge amount was transferred to the Foundation. The foundation considers this an unusual grant. The Foundation is committed to raising additional monies to support access to higher education for Wisconsin students who participate in the program. The foundation encourages Wisconsin companies and philanthropies to embrace the program through additional contributions. The foundation will distribute money raised to the eligible program students to better their lives and Wisconsin's future through higher education."]}}},"ScheduleB":{"attached":true,"required":true},"ScheduleD":{"net_assets_reconciliation":{"total_revenue":89917,"total_expenses":30158,"excess_or_deficit_for_year":59759,"excess_or_deficit_per_financial_statements":59759},"revenue_reconciliation":{"total_revenue_audited_financial_statements":109757,"donated_services_and_use_facilities":19840,"revenue_not_reported":19840,"revenue_subtotal":89917,"total_revenue_per_990":89917},"expense_reconciliation":{"total_expenses_audited_financial_statements":49998,"donated_services_use_facilities":19840,"expenses_not_reported":19840,"expenses_subtotal":30158,"total_expenses_per_990":30158}},"ScheduleI":{"reported_domestic_org_grants":0,"reported_domestic_individual_grants":0,"total_domestic_grants":0},"ScheduleF":{"reported_foreign_grants":0},"source_xml":"201110989349300306_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"The wisconsin covenant foundation, inc. Shall provide grant assistance to low-income students and others for post-secondary education in wisconsin in support of the wisconsin covenant program and similar postsecondary educational access and/or persistence initiatives. The wisconsin covenant program is memorialized in the wisconsin covenant memorandum of understanding executed on september 6, 2006 among the wisconsin governor, the wisconsin department of public instruction, the wisconsin technical college system, the university of wisconsin system and the wisconsin association of independent colleges and universities. This mission statement has been reviewed, acknowledged and approved by the board.","primary_activities":"The Wisconsin Covenant Foundation, Inc. provides grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives. The goals of the Wisconsin Covenant Program are to promote access to higher education, success in higher education and affordability of higher education. The Wisconsin Covenant Foundation, Inc. distributes funds to the eligible Wisconsin Covenant Program students and institutions to better lives and Wisconsin's future through higher education.\n\nTo provide grant assistance to low-income students and others for post-secondary education in wisconsin in support of the wisconsin covenant program and similar postsecondary educational access and/or persistence initiatives. Process used by Management &/or Governing Body to Review 990: Form 990, Part VI, Question 11b On an annual basis, the Executive Committee of the Board reviews the Form 990 prior to filing.","year":2011,"name":"Wisconsin Covenant Foundation Inc","phone":"6082461410","website":"www.wisconsincovenantfoundation.org","type":"990","principal_officer":"Richard D George","year_formation":2007,"state_legal_domicile":"WI","total_volunteers":0,"tax_period_begin":"2011-07-01T00:00:00","tax_period_end":"2012-06-30T00:00:00","address":"2401 International Lane, Madison, WI, 53704, USA","city":"Madison","state":"WI","country":"USA","zip_code":"53704"},"Governance":{"501c3 determination":true,"Number of voting members":6,"Number of independent voting members":6,"Number of employees total":0,"Total Gross UBI":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":false,"Document retention policy":false,"Investment in joint venture":false,"Independent audit financial statements":true,"Consolidated audit financial statements":false,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":false,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":264490,"Contributions":{"value":133713,"Other contributions":133713},"Program revenue":{"value":0},"Investment income":{"value":130777,"Investment income total":130777,"Net investment gain":0,"Income from invest bond proceeds":0},"Other revenues":{"value":0,"Other total":0,"Royalties revenue":0,"Net income from fundraising events":0,"Net income from gaming":0,"Net income":0}},"Expenses":{"value":796871,"Grant expense":{"value":763158,"Grants to domestic individuals":763158,"Foreign grants":0},"Total professional fundraising expense":{"value":0,"Fundraising professional":0},"Benefits paid to members":{"value":0,"Benefits paid to members Total":0},"Salaries":{"value":0,"Current officers":0,"Disqualified persons":0,"Other salaries and wages":0,"Pension plan contributions":0,"Other employee benefits":0,"Payroll taxes":0},"Other expenses":{"value":33713,"Management services":0,"Legal":970,"Accounting":21812,"Lobbying services":0,"Investment management fees":0,"Other services":314,"Advertising":0,"Office expenses":3761,"Information technology":0,"Royalties":0,"Occupancy":0,"Travel":141,"Conferences and meetings":0,"Interest":0,"Payments to affiliates":0,"Depreciation and depletion":0,"Insurance":6600,"Travel entertainment public officials":0,"Itemized Expenses":115}},"Assets":{"value":40893252,"Non-interest bearing cash":6123,"Savings and temp cash investments":8790000,"Pledges and grants receivable":0,"Accounts receivable":0,"Receivables from officers":0,"Receivables from disqual persons":0,"Other net note and loans":0,"Inventories for sale or use":0,"Prepaid expenses deferred charges":12334,"Investments publicly traded":32022586,"Investments other":0,"Investments program related":0,"Intangible assets":0,"Other assets":62209},"Liabilities":{"value":0,"Accounts payable, accrued":0,"Grants payable":0,"Deferred, revenue":0,"Tax exempt bond liabilities":0,"Escrow account liability":0,"Loans from officers, directors":0,"Secured mortgages and notes payable":0,"Unsecured notes loans payable":0,"Other liabilities":0},"Fund balance":{"value":40893252},"Form990Details":{"program_service_accomplishments":[{"description":"The Wisconsin Covenant Foundation, Inc. provides grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives. The goals of the Wisconsin Covenant Program are to promote access to higher education, success in higher education and affordability of higher education. The Wisconsin Covenant Foundation, Inc. distributes funds to the eligible Wisconsin Covenant Program students and institutions to better lives and Wisconsin's future through higher education.","expense":763158,"grants":763158}],"functional_expense_allocations":{"current_officers_directors":{"total":0},"disqualified_persons":{"total":0},"other_salaries_and_wages":{"total":0},"pension_plan_contributions":{"total":0},"other_employee_benefits":{"total":0},"payroll_taxes":{"total":0},"management_fees":{"total":0},"legal_fees":{"management_and_general":970,"total":970},"accounting_fees":{"management_and_general":21812,"total":21812},"lobbying_fees":{"total":0},"professional_fundraising_fees":{"total":0},"investment_management_fees":{"total":0},"other_service_fees":{"management_and_general":314,"total":314},"advertising":{"total":0},"office_expenses":{"management_and_general":3761,"total":3761},"information_technology":{"total":0},"royalties":{"total":0},"occupancy":{"total":0},"travel":{"management_and_general":141,"total":141},"conferences_meetings":{"total":0},"interest":{"total":0},"payments_to_affiliates":{"total":0},"depreciation_depletion":{"total":0},"insurance":{"management_and_general":6600,"total":6600}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"backup_withholding_compliance":true,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_vi":true,"schedule_o_part_xi":true},"principal_officer_detail":{"person_name":"Richard D George","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"audited_financial_statement_separate":true,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":false,"related_org_controlled_entity":false,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":false,"grants_to_individuals":true,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":0,"grants_payable_end_of_year":0},"books_are_in_care_of":{"person_name":"NANCY SEIFERT","phone":"6082461410","address_line1":"2401 INTERNATIONAL LANE","city":"Madison","state":"WI","zip":"53704"},"officers_directors_key_employees":[{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true}]},"ScheduleA":{"public_charity_status":{"publicly_supported_org_170b1_avi":true},"support_170":{"first_five_years":true,"gifts_grants_contributions":{"value":676807,"current_year":133713,"current_year_minus1":373676,"current_year_minus2":31658,"current_year_minus3":38736,"current_year_minus4":99024},"total_calendar_year_support":{"value":676807,"current_year":133713,"current_year_minus1":373676,"current_year_minus2":31658,"current_year_minus3":38736,"current_year_minus4":99024},"amounts_from_substantial_contributors":309537,"public_support_total":367270,"gross_investment_income":{"value":1282439,"current_year":130777,"current_year_minus1":119339,"current_year_minus2":58259,"current_year_minus3":432858,"current_year_minus4":541206},"total_support":1959246},"supplemental_information":{"general":{"explanation":["Great Lakes Higher Education Corporation, a substantial contributor, has a services agreement with Wisconsin Covenant Foundation, Inc. (Foundation) to provide certain management and administrative services and to act as the Foundation's principal agent. These services are provided to the Foundation at a nominal cost of $1.00/annum as an additional means of support to the Foundation to enable its resources to be applied exclusively to its charitable mission. Schedule A, Part II: Due to a change in year-end, a short period return was filed for the time period January 1, 2008 through June 30, 2008. Therefore, the years listed on Schedule A, Part II correspond to the time frames as listed below: 2011,July 1, 2011 through June 30, 2012 2010,July 1, 2010 through June 30, 2011 2009,July 1, 2009 through June 30, 2010 2008,July 1, 2008 through June 30, 2009 2007,October 31, 2007 through December 31, 2007 and January 1, 2008 through June 30, 2008 Schedule A, Part II, Line 1: Contributed services relate to expenses paid on behalf of the Wisconsin Covenant Foundation, Inc. and are included as contributions in Schedule A,","Part II, Line 1: Other Additional Information: Great Lakes Higher Education Corporation, a section 501(c)(3) charity, operates for the support and benefit of great lakes higher education guaranty corporation (GLHEGC) and northstar guarantee inc. (Northstar). GLHEGC and northstar ensure enablement of access to post-secondary education by providing cost effective guaranty agency services and, prospectively, lower cost or otherwise unavailable funding for federally guaranteed loans to students and parents and/or alternative non-federally guaranteed loans. Wisconsin Covenant Foundation, Inc. (the Foundation) was incorporated on October 31, 2007, as a nonstock, nonprofit corporation organized for charitable and educational purposes, including specifically assisting low-income students in paying for the cost of post-secondary education in Wisconsin. The Foundation works with the Wisconsin Covenant Program (the Program) to provide grants to students attending a higher education institution who meet the eligibility requirements of the Program. The program was memorialized in the Wisconsin Covenant Memorandum of Understanding executed on September 6, 2006 among the Wisconsin Governor, the Wisconsin Department of Public Instruction, the Wisconsin Technical College System, the University of Wisconsin System and the Wisconsin Association of Independent Colleges and Universities. The goals of the program are to promote access to higher education, success in higher education, and affordability of higher education.","On December 18, 2007, Great Lakes Higher Education Corporation signed a $40,000,000 contribution agreement with the Foundation in support of the program. On December 27, 2007, the $40,000,000 pledge amount was transferred to the Foundation. The foundation considers this an unusual grant. The Foundation is committed to raising additional monies to support access to higher education for Wisconsin students who participate in the program and similar postsecondary educational access and/or persistence initiatives. The foundation encourages Wisconsin companies and philanthropies to embrace the program through additional contributions. The foundation will distribute money raised to the eligible program students and non-profit educational insitutions to better lives and Wisconsin's future through higher education."]}}},"ScheduleB":{"attached":true,"required":true},"ScheduleD":{"net_assets_reconciliation":{"total_revenue":264490,"total_expenses":796871,"excess_or_deficit_for_year":-532381,"net_unrealized_gains_losses_on_investments":-27913,"total_adjustments":-27913,"excess_or_deficit_per_financial_statements":-560294},"revenue_reconciliation":{"total_revenue_audited_financial_statements":324453,"net_unrealized_gains_investments":-27913,"donated_services_and_use_facilities":87876,"revenue_not_reported":59963,"revenue_subtotal":264490,"total_revenue_per_990":264490},"expense_reconciliation":{"total_expenses_audited_financial_statements":884747,"donated_services_use_facilities":87876,"expenses_not_reported":87876,"expenses_subtotal":796871,"total_expenses_per_990":796871}},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_individual_grants":763158,"reported_domestic_individual_grants_program_services":763158,"individual_grants":[{"type":"Wisconsin Covenant Scholar Program","recipient_count":535,"cash":763158}],"total_domestic_grants":763158,"total_domestic_program_services":763158,"detail_individual_grants_total":763158,"detail_domestic_grants_total":763158,"supplemental_information":[{"identifier":"Form 990, Schedule I","form_and_line_reference":"Description of Organization's Procedures for Monitoring the Use of Grants","explanation":"In The United States: Wisconsin Covenant Foundation, Inc. (WCF) receives periodic reports detailing the distribution of the Wisconsin Covenant Scholar grant funds to postsecondary schools (who disburse the grants directly to the recipients). The recipients are determined based on criteria defined by the Program and no individual recipient receives more than $1,500 per year."}],"grant_monitoring":{"claims_monitoring_procedures":false,"requires_financial_reports":false,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false}},"ScheduleF":{"reported_foreign_grants":0},"source_xml":"201203199349307110_public.xml"}],"Latest":{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"The wisconsin covenant foundation, inc. Provided grant assistance to low-income students and others for post-secondary education in wisconsin in support of the wisconsin covenant program and similar postsecondary educational access and/or persistence initiatives. The wisconsin covenant program was memorialized in the wisconsin covenant memorandum of understanding executed on september 6, 2006 among the wisconsin governor, the wisconsin department of public instruction, the wisconsin technical college system, the university of wisconsin system and the wisconsin association of independent colleges and universities. This mission statement was reviewed, acknowledged and approved by the board.","primary_activities":"The Wisconsin Covenant Foundation, Inc. provided grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives. The goals of the Wisconsin Covenant Program were to promote access to higher education, success in higher education and affordability of higher education. The Wisconsin Covenant Foundation, Inc. distributed funds to the eligible Wisconsin Covenant Program students and institutions to better lives and Wisconsin's future through higher education.\n\nWisconsin Workforce Partnership Grants provided funding to Wisconsin technical colleges to make significant investments in equipment, supplies and specialized instruction to provide training in advanced manufacturing. The goal of the Wisconsin Workforce Partnership was to facilitate collaboration between technical colleges and partner businesses to develop program curricula that will benefit all students enrolled in these manufacturing programs.\n\nThe Wisconsin Covenant Foundation, Inc. in an effort to further promote access to higher education, success in higher education and affordability of higher education, as well as to reduce administrative costs in support of the same, provided a grant to Great Lakes Higher Education Guaranty Corporation (GLHEGC). GLHEGC will continue to provide grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives in place of the work previously done by the Wisconsin Covenant Foundation, Inc.\n\nTo provide grant assistance to low-income students and others for post-secondary education in wisconsin in support of the wisconsin covenant program and similar postsecondary educational access and/or persistence initiatives. -----------------------------------------------------------------------\n\nEffective as of june 30, 2013, wisconsin covenant foundation, inc. (foundation) was dissolved. All program services of the foundation are presently being continued to be performed by great lakes higher education guaranty corporation (glhegc) (39-1853833), a tax-exempt organization under internal revenue code section 501(c)(3). --------------------------------------------------------------------------","year":2012,"name":"Wisconsin Covenant Foundation Inc","phone":"6082461410","website":"www.wisconsincovenantfoundation.org","type":"990","principal_officer":"Richard D George","year_formation":2007,"state_legal_domicile":"WI","total_volunteers":0,"tax_period_begin":"2012-07-01T00:00:00","tax_period_end":"2013-06-30T00:00:00","address":"2401 International Lane, Madison, WI, 53704, USA","city":"Madison","state":"WI","country":"USA","zip_code":"53704"},"Governance":{"501c3 determination":true,"Number of voting members":5,"Number of independent voting members":5,"Number of employees total":0,"Total Gross UBI":0,"Number of employees":0,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":false,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":false,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":false,"Document retention policy":false,"Investment in joint venture":false,"Independent audit financial statements":false,"Consolidated audit financial statements":false,"Accountant compile or review":false,"Financial statements audited by independent accountant":false,"Federal grant audit required":false,"Political activities":false,"Donor advised funds":false,"Conservation easements":false,"Collections of art":false,"School":false,"Hospital":false,"Foreign activities":false,"Foreign office":false,"Gaming":false,"Fundraising activities":false,"Professional fundraising":false,"Loan to officer or DQP":false,"Grant to related person":false,"Business relationship through family member":false,"Business relationship with organization":false,"Transfers to exempt non-charitable organization":false},"Revenues":{"value":84516,"Contributions":{"value":37290,"Other contributions":37290},"Program revenue":{"value":0},"Investment income":{"value":47226,"Investment income total":47226,"Net investment gain":0,"Income from invest bond proceeds":0},"Other revenues":{"value":0,"Other total":0,"Royalties revenue":0,"Net rental income":0,"Net income from fundraising events":0,"Net income from gaming":0,"Net income":0}},"Expenses":{"value":40964992,"Grant expense":{"value":40918173,"Grants to domestic orgs":38217524,"Grants to domestic individuals":2700649,"Foreign grants":0},"Total professional fundraising expense":{"value":0,"Fundraising professional":0},"Benefits paid to members":{"value":0,"Benefits paid to members Total":0},"Salaries":{"value":0,"Current officers":0,"Disqualified persons":0,"Other salaries and wages":0,"Pension plan contributions":0,"Other employee benefits":0,"Payroll taxes":0},"Other expenses":{"value":46819,"Management services":0,"Legal":118,"Accounting":25188,"Lobbying services":0,"Investment management fees":0,"Other services":4998,"Advertising":0,"Office expenses":9743,"Information technology":0,"Royalties":0,"Occupancy":0,"Travel":0,"Conferences and meetings":0,"Interest":0,"Payments to affiliates":0,"Depreciation and depletion":0,"Insurance":6607,"Travel entertainment public officials":0,"Itemized Expenses":165}},"Assets":{"value":0,"Non-interest bearing cash":0,"Savings and temp cash investments":0,"Pledges and grants receivable":0,"Accounts receivable":0,"Receivables from officers":0,"Receivables from disqual persons":0,"Other net note and loans":0,"Inventories for sale or use":0,"Prepaid expenses deferred charges":0,"Investments publicly traded":0,"Investments other":0,"Investments program related":0,"Intangible assets":0,"Other assets":0},"Liabilities":{"value":0,"Accounts payable, accrued":0,"Grants payable":0,"Deferred, revenue":0,"Tax exempt bond liabilities":0,"Escrow account liability":0,"Loans from officers, directors":0,"Secured mortgages and notes payable":0,"Unsecured notes loans payable":0,"Other liabilities":0},"Fund balance":{"value":0},"Form990Details":{"program_service_accomplishments":[{"description":"The Wisconsin Covenant Foundation, Inc. provided grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives. The goals of the Wisconsin Covenant Program were to promote access to higher education, success in higher education and affordability of higher education. The Wisconsin Covenant Foundation, Inc. distributed funds to the eligible Wisconsin Covenant Program students and institutions to better lives and Wisconsin's future through higher education.","expense":2700649,"grants":2700649},{"description":"Wisconsin Workforce Partnership Grants provided funding to Wisconsin technical colleges to make significant investments in equipment, supplies and specialized instruction to provide training in advanced manufacturing. The goal of the Wisconsin Workforce Partnership was to facilitate collaboration between technical colleges and partner businesses to develop program curricula that will benefit all students enrolled in these manufacturing programs.","expense":1497318,"grants":1497318},{"description":"The Wisconsin Covenant Foundation, Inc. in an effort to further promote access to higher education, success in higher education and affordability of higher education, as well as to reduce administrative costs in support of the same, provided a grant to Great Lakes Higher Education Guaranty Corporation (GLHEGC). GLHEGC will continue to provide grant assistance to low-income students and non-profit educational institutions in Wisconsin in support of the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives in place of the work previously done by the Wisconsin Covenant Foundation, Inc.","expense":36720206,"grants":36720206}],"functional_expense_allocations":{"current_officers_directors":{"total":0},"disqualified_persons":{"total":0},"other_salaries_and_wages":{"total":0},"pension_plan_contributions":{"total":0},"other_employee_benefits":{"total":0},"payroll_taxes":{"total":0},"management_fees":{"total":0},"legal_fees":{"management_and_general":118,"total":118},"accounting_fees":{"management_and_general":25188,"total":25188},"lobbying_fees":{"total":0},"professional_fundraising_fees":{"total":0},"investment_management_fees":{"total":0},"other_service_fees":{"management_and_general":4998,"total":4998},"advertising":{"total":0},"office_expenses":{"management_and_general":9743,"total":9743},"information_technology":{"total":0},"royalties":{"total":0},"occupancy":{"total":0},"travel":{"total":0},"conferences_meetings":{"total":0},"interest":{"total":0},"payments_to_affiliates":{"total":0},"depreciation_depletion":{"total":0},"insurance":{"management_and_general":6607,"total":6607}},"tax_and_disclosure_flags":{"activities_conducted_through_partnership":false,"foreign_financial_account":false,"backup_withholding_compliance":true,"lobbying_activities":false,"deductible_non_cash_contributions":false,"deductible_contributions_of_art":false,"method_of_accounting_accrual":true,"schedule_o_part_iii":true,"schedule_o_part_vi":true},"principal_officer_detail":{"person_name":"Richard D George","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704"},"audit_financial_statement_detail":{"accountant_compile_or_review":false,"federal_grant_audit_required":false},"related_party_due_diligence":{"officer_entity_with_business_relationship":false,"officer_mailing_address":false,"related_entity":false,"related_org_controlled_entity":false,"compensation_from_other_sources":false,"excess_benefit_transaction":false,"annual_disclosure_covered_persons":true},"grant_due_diligence":{"grants_to_organizations":true,"grants_to_individuals":true,"more_than_5000_to_organizations":false,"more_than_5000_to_individuals":false,"grants_payable_beginning_of_year":0,"grants_payable_end_of_year":0},"books_are_in_care_of":{"person_name":"NANCY SEIFERT","phone":"6082461410","address_line1":"2401 INTERNATIONAL LANE","city":"Madison","state":"WI","zip":"53704"},"officers_directors_key_employees":[{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Treasurer & Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true,"officer":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Director","average_hours_per_week":1.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":0,"other_compensation":0,"individual_trustee_or_director":true},{"title":"Director","average_hours_per_week":1.0,"individual_trustee_or_director":true,"officer":true}]},"ScheduleA":{"public_charity_status":{"publicly_supported_org_170b1_avi":true},"support_170":{"gifts_grants_contributions":{"value":615073,"current_year":37290,"current_year_minus1":133713,"current_year_minus2":373676,"current_year_minus3":31658,"current_year_minus4":38736},"tax_revenues_levied_for_org_benefit":{"value":0},"total_calendar_year_support":{"value":615073,"current_year":37290,"current_year_minus1":133713,"current_year_minus2":373676,"current_year_minus3":31658,"current_year_minus4":38736},"amounts_from_substantial_contributors":341960,"public_support_total":273113,"gross_investment_income":{"value":788459,"current_year":47226,"current_year_minus1":130777,"current_year_minus2":119339,"current_year_minus3":58259,"current_year_minus4":432858},"other_income":{"value":0},"unrelated_business_net_income":{"value":0},"total_support":1403532,"public_support_percentage":0.19459},"support_509":{"ten_percent_test_current_year":true},"support_170_prior_schema":{"value_services_facilities_by_government":{"total":0},"value_services_facilities_by_government_prior":{"total":0}},"supplemental_information":{"general":{"explanation":["Great Lakes Higher Education Corporation, a substantial contributor, had a services agreement with Wisconsin Covenant Foundation, Inc. (Foundation) to provide certain management and administrative services and to act as the Foundation's principal agent. These services were provided to the Foundation at a nominal cost of $1.00/annum as an additional means of support to the Foundation to enable its resources to be applied exclusively to its charitable mission. Schedule A, Part II, Line 1: Contributed services relate to expenses paid on behalf of the Wisconsin Covenant Foundation, Inc. and are included as contributions.","Other Additional Information: Great Lakes Higher Education Corporation, a section 501(c)(3) charity, operates for the support and benefit of great lakes higher education guaranty corporation (GLHEGC) and northstar guarantee inc. (Northstar). GLHEGC and northstar ensure enablement of access to post-secondary education by providing cost effective guaranty agency services and, prospectively, lower cost or otherwise unavailable funding for federally guaranteed loans to students and parents and/or alternative non-federally guaranteed loans. Wisconsin Covenant Foundation, Inc. (Foundation) was incorporated on October 31, 2007, as a nonstock, nonprofit corporation organized for charitable and educational purposes, including specifically assisting low-income students in paying for the cost of post-secondary education in Wisconsin. The Foundation worked with the Wisconsin Covenant Program (Program) to provide grants to students attending a higher education institution who met the eligibility requirements of the Program. The program was memorialized in the Wisconsin Covenant Memorandum of Understanding executed on September 6, 2006 among the Wisconsin Governor, the Wisconsin Department of Public Instruction, the Wisconsin Technical College System, the University of Wisconsin System and the Wisconsin Association of Independent Colleges and Universities. The goals of the program were to promote access to higher education, success in higher education and affordability of higher education.","The Wisconsin Covenant Foundation (Foundation) meets the 10% public support requirement under the facts-and-circumstances test for the year ended June 30, 2013. Primarily as a result of state legislation that prospectively terminated state support for the Program, The Foundation has not been as successful as originally anticipated in generating significant public donations over the last few years due in part to economic difficulties encountered by those individuals and organizations that are most likely to donate funds to assist students who attend a higher education institution. Over the past fiscal year, the Foundation attempted to attract public support of its mission by maintaining a website where donations can be made and by expanding its visibility through offering new Wisconsin Workforce Partnership Grants."]}}},"ScheduleB":{"attached":true,"required":true},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_org_grants":38217524,"reported_domestic_individual_grants":2700649,"reported_domestic_org_grants_program_services":38217524,"reported_domestic_individual_grants_program_services":2700649,"total_501c3_and_government_organizations":5,"total_other_organizations":0,"grants":[{"ein":391853833,"irc_section":"501(c)(3)","cash":36480184,"noncash":240022,"purpose":"Post Secondary Education Grant","noncash_description":"Grant","valuation_method":"BOOK","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704","name":"Great Lakes Higher Education Guaranty Corp","address":"2401 International Lane, Madison, WI, 53704"},{"ein":391290708,"irc_section":"501(c)(3)","cash":323435,"purpose":"WI Workforce Partnership","address_line1":"3520 30th Ave","city":"Kenosha","state":"WI","zip":"53144","name":"Gateway Technical College","address":"3520 30th Ave, Kenosha, WI, 53144"},{"ein":391088212,"irc_section":"501(c)(3)","cash":231342,"purpose":"WI Workforce Partnership","address_line1":"235 N National Ave","city":"Fond du Lac","state":"WI","zip":"54935","name":"Moraine Park Technical College","address":"235 N National Ave, Fond du Lac, WI, 54935"},{"ein":391086910,"irc_section":"501(c)(3)","cash":378384,"purpose":"WI Workforce Partnership","address_line1":"5364 College Drive","city":"Rhinelander","state":"WI","zip":"54501","name":"Nicolet Area Technical College","address":"5364 College Drive, Rhinelander, WI, 54501"},{"ein":391828080,"irc_section":"501(c)(3)","cash":564157,"purpose":"WI Workforce Partnership","address_line1":"1800 Bronson Blvd","city":"Fennimore","state":"WI","zip":"53809","name":"Southwest Wisconsin Technical College","address":"1800 Bronson Blvd, Fennimore, WI, 53809"}],"individual_grants":[{"type":"Wisconsin Covenant Scholar Program","recipient_count":2392,"cash":2700649,"noncash_description":"See Part IV"}],"total_domestic_grants":40918173,"total_domestic_program_services":40918173,"detail_org_grants_total":38217524,"detail_individual_grants_total":2700649,"detail_domestic_grants_total":40918173,"supplemental_information":[{"identifier":"Form 990, Schedule I","form_and_line_reference":"Description of Organization's Procedures for Monitoring the Use of Grants","explanation":"In The United States: Wisconsin Covenant Foundation, Inc. (Foundation) received periodic reports detailing the distribution of the Wisconsin Covenant Scholar grant funds to postsecondary schools (who disbursed the grants directly to the recipients). The recipients were determined based on criteria defined by the Program and no individual recipient receives more than $1,500 per year. In addition, the Foundation received data on the number of students completing the manufacturing training programs and their resulting job placements from those technical colleges participating in the Wisconsin Workforce Partnership Program."}],"grant_monitoring":{"claims_monitoring_procedures":false,"requires_financial_reports":false,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false}},"ScheduleF":{"reported_foreign_grants":0},"ScheduleN":{"termination_or_liquidation":{"assets_distributed":true,"liabilities_paid":true,"bonds_outstanding":false,"required_to_notify_attorney_general":false},"successor_relationships":{"director_of_successor":false,"employee_of_successor":false,"owner_of_successor":false},"liquidations":[{"person_name":"Great Lakes Higher Education Guaran","ein":391853833,"irc_section":"501(c)(3)","distribution_date":"2013-06-30T00:00:00","description":"Cash Grant","fair_market_value":36480184,"method_of_fmv_determination":"Actual Cost","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704","name":"Great Lakes Higher Education Guaran","address":"2401 International Lane, Madison, WI, 53704"},{"person_name":"Great Lakes Higher Education Guaran","ein":391853833,"irc_section":"501(c)(3)","distribution_date":"2013-06-30T00:00:00","description":"Additional Grant Amount","fair_market_value":240022,"method_of_fmv_determination":"Actual Cost","address_line1":"2401 International Lane","city":"Madison","state":"WI","zip":"53704","name":"Great Lakes Higher Education Guaran","address":"2401 International Lane, Madison, WI, 53704"}],"supplemental_information":[{"identifier":"Schedule N, Part I:","form_and_line_reference":"Dissolution of Corporation","explanation":"This form 990 for year ended June 30, 2013 represents the final return for the Wisconsin Covenant Foundation, Inc. (Foundation). Effective June 30, 2013, the Foundation was dissolved and the remaining assets were transferred via a grant to Great Lakes Higher Education Guaranty Corporation (GLHEGC) (39-1853833). GLHEGC is a tax-exempt organization under Internal Revenue Code section 501(c)(3) that operates to provide cost effective access to postsecondary education. GLHEGC will continue to support the Wisconsin Covenant Program and similar postsecondary educational access and/or persistence initiatives in place of the work previously done by the Foundation. Attached are copies of the Articles of Dissolution."}]},"Ratings":{"Mission Deployment Rate":{"score":null},"Program Expense Ratio":{"score":null},"Fundraising Efficiency":{"score":null,"percentile":null},"Filing Consistency Score":{"score":1.0},"Grant Itemization Coverage":{"score":1.0},"Independent Voting Board Pct":{"score":1.0},"Operating Margin":{"score":-483.7010270244687,"percentile":0.003955662047230497},"Operating Reserve Ratio":{"score":0.0,"percentile":0.026800149493383534},"Liabilities to Assets Ratio":{"score":null,"percentile":null},"Officer Compensation Ratio":{"score":null,"percentile":null},"Program Expense Growth":{"score":null,"percentile":null},"Revenue Growth":{"score":0.07468068756609114,"percentile":0.6993859125647295},"Asset Growth":{"score":-0.42967836356858913,"percentile":0.028552099206557723},"Foreign Oversight Score":{"score":null},"Major-Donor Itemization":{"score":1.0},"Related-Party Transparency":{"score":null},"Pay-Setting Controls":{"score":1.0,"weight":5,"atoms":{"Compensation committee":{"value":true},"Independent compensation consultant":{"value":true},"Form 990 of other organizations reviewed":{"value":true},"Written employment contract":{"value":true},"Compensation survey or study":{"value":true},"Board or committee approval":{"value":true}}},"Governance Policy Score":{"score":0.2222222222222222,"weight":5,"atoms":{"Conflict of interest policy":{"value":true},"Whistle blower policy":{"value":false},"Document retention policy":{"value":false},"Compensation process for CEO":{"value":false},"Compensation process for other employees":{"value":false},"Form 990 provided to governing body":{"value":false},"Minutes of governing body":{"value":true},"Audit committee":{"value":false},"Independent audit financial statements":{"value":false}}},"Categories":{"Financial Efficiency":{"score":null,"weight":45},"Transparency & Controls":{"score":1.0,"weight":20},"Accountability":{"score":0.6759259259259259,"weight":14},"Sustainability":{"score":0.012742003372673973,"weight":13},"Growth":{"score":0.47577464144533893,"weight":8}},"Overall Score":{"score":0.6079055661521897,"percentile":0.16024083739176292}},"source_xml":"201302909349300500_public.xml"},"sector":"Education","donation_categories":[],"zakat_policy":null},"error":null}