2025-04-17T06:57:12-05:00 2024-12-31 Foundation Source 3333 New Hyde Park Rd Ste 406 New Hyde Park NY 11042 990PF 2024-06-24 993682745 WPM Foundation % Foundation Source WPMF 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 Philip Cheng President 8008391754 2025-04-10 true true Jeffrey D Haskell P01345770 8008391754 2024 2025-03-06 01:10:19Z X X 1366888 X 1410000 2606 2606 297 297 0 1412903 2903 0 6193 6193 6193 0 6193 3000 3000 9193 0 9193 1403710 2903 237869 237869 1165841 1129019 0 1403710 1366888 0 0 X 1403710 0 1403710 0 1403710 0 1403710 1403710 1403710 40 40 40 0 0 40 false false false false false false true true true DE true false true false false true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false false false false false false false false false false false false false false false false false false false false Philip Cheng Foundation Source 501 Silverside Rd Wilmington DE 198091377 Pres, Dir, Sec, Treas 1.0 0 0 0 161288 218723 0 380011 0 380011 5700 374311 9767 9767 40 40 9727 9727 9727 9193 0 0 0 0 9193 9727 9193 9193 0 0 534 0 0 NONE X PRION ALLIANCE INC PO BOX 391953 CAMBRIDGE MA 02139 N/A PC General & Unrestricted 3000 3000 14 2606 14 297 2903 2903 false false false false false false false false false false X X 1 Motorsport Classics LLC c/o Philip Cheng 3157 Scholarship Irvine CA 92612 1410000 X ABBVIE INC 12460 12439 ADOBE SYSTEMS, INC 16266 15564 ADVANCED MICRO DEVICES INC 18821 17515 ALPHABET INC CL A 20728 21769 AMAZON COM 25173 24132 AMGEN INC 18965 18245 AMPHENOL CORPORATION 19406 18752 ANALOG DEVICES INC 19685 19546 APPLE INC 22624 22537 APPLIED MATERIALS INC 19688 18702 BANK OF AMERICA CORP 18684 17580 BIOGEN INC 6262 6117 BLACKROCK INC 17709 17427 BOEING CO 6930 7080 BROADCOM INC 19789 23183 CANADIAN PACIFIC RAILWAY LTD 11770 11579 CAPITAL ONE FINANCIAL CORP 6603 6241 CATERPILLAR INC 20721 19952 CENTENE CORP 6548 6967 CHECK POINT SOFTWARE TECHNOLOG 13143 13069 CHEVRON CORP 12464 11587 CHUBB LIMITED 6327 6079 CITIGROUP INC 6445 6335 COGNIZANT TECHNOLOGY SOLUTIONS 13337 13073 CORTEVA INC 6192 5696 COSTCO WHOLESALE CORPORATION 23261 21989 CSX CORP 12055 11617 DEERE CO 17849 16948 DIAGEO PLC ADS 6592 6357 DOW INC 6407 6020 ELI LILLY & CO 12505 12352 EXXON MOBIL CORP 12119 11833 FREEPORT-MCMORAN COPPER & GOLD 10563 9520 GILEAD SCIENCES INC 6469 6466 GOLDMAN SACHS GROUP 18686 18324 HOME DEPOT INC 20369 19450 HONEYWELL INTL 20410 20330 ILLINOIS TOOL WORKS 16313 15214 INTERCONTINENTAL EXCHANGE, INC 12332 11921 INTERNATIONAL BUSINESS MACHINE 13600 13190 INTUIT 19562 18855 JOHNSON & JOHNSON 6117 5785 JP MORGAN CHASE 19332 19177 L3HARRIS TECHNOLOGIES 20047 18925 LABCORP HLDGS INC (LABORATORY 6436 6421 LINDE PLC COM 20997 20096 LOCKHEED MARTIN CORP 19785 19438 LOWES COMPANIES INC 21118 19744 LVMH MOET HENN UNSP 6718 6535 MARTIN MARIETTA MATLS INC 10667 9814 MASTERCARD INC 21090 21063 MEDTRONIC PLC 6237 5991 MERCADOLIBRE, INC 14977 13604 META PLATFORMS INC 19390 18736 MICROSOFT CORP 21450 21075 MORGAN STANLEY 19238 18858 NASDAQ OMX GROUP 5607 5412 NORFOLK SOUTHERN CORP 12295 11266 NVIDIA CORP 21901 21486 ORACLE CORP 20561 19164 PARKER HANNIFIN CP 20159 19081 PAYPAL HOLDINGS, INC 6658 6401 PULTE GROUP INC 13448 11979 QORVO INC 6880 6993 QUANTA SVCS INC 6615 6321 RAYTHEON TECHNOLOGIES CORP 21297 20830 REGENERON PHARMACEUTICALS INC 5996 5699 RESMED INC 6125 5717 ROCKWELL AUTOMATION INC 6588 6287 SALESFORCE.COM 19487 18722 SAP AKTIENGESELL ADS 19979 19697 SHOPIFY INC 6926 6380 SKYWORKS SOLUTIONS, INC 6638 6651 STARBUCKS CORP COM 6427 5931 STRYKER CORPORATION 13525 12962 TAIWAN SEMICONDUCTOR MFG CO LT 24110 23698 THERMO FISHER SCIENTIFIC INC 20941 20809 UNILEVER PLC AMER 6490 6237 UNION PACIFIC 11960 11402 UNITEDHEALTH GROUP INC 6964 6070 VALERO ENERGY CORP 11770 11033 VEEVA SYSTEMS INC 13531 12615 WALT DISNEY HOLDINGS CO 13532 13362 As explained below, the Foundation has no plans for dissolution. This statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: Typically, a finding of a substantial contraction of assets is made by reference to the fair market value of a foundation's net assets on the first day of its calendar year. However, the taxable year ending December 31, 2024 was the year in which the Foundation received its initial endowment and the finding of a substantial contraction in this case was made by reference to the fair market value of the Foundation's assets on the date that it received its initial endowment. Accordingly, the degree of contraction of the Foundation's net assets may have been exaggerated. During the taxable year ending December 31, 2024, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $3,000. This amount represents 25% or more of the Foundation's net assets of $10,000 (as measured by fair market value) on the day that the Foundation received its initial endowment in the Foundation's taxable year ending December 31, 2024. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XIV, Line 3a; each such grant was made solely for the charitable purpose specified therein. Administrative Fees 693 693 Administrative Set-Up Fee 4400 4400 Delaware Incorporation Fees 500 500 IRS Application Fees 600 600 Motorsport Classics LLC c/o Philip Cheng 3157 Scholarship Irvine CA 92612