Assertion Not publicly verifiable AI assessment confidence: 85% certainty 4/5 debate potential 1/5

Thome: WARF still carries its original 1925 $900 as paid-in capital

Carrie Thome · Carrie Thome – Nothing Ventured, Nothing Gained at WARF and beyond (Capital Allocators, EP.160) · Oct 19, 2020 · at 12:05

Carrie Thome, former CIO of the Wisconsin Alumni Research Foundation (WARF), discusses the foundation's 1925 founding capital structure.

0:00 / 0:03exact quote · 3.1s

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“That 900 dollars is still on the books as paid in capital.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

The original $900 contributed by nine alumni to establish WARF in 1925 remains recorded on WARF's books as paid-in capital.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

While historical records verify that the Wisconsin Alumni Research Foundation (WARF) was founded in November 1925 with $900 contributed by nine alumni ($100 each), whether that specific $900 remains classified as 'paid-in capital' on WARF's internal general ledger cannot be verified from public information. As a private, non-stock 501(c)(3) non-profit corporation, WARF's public financial disclosures (such as IRS Form 990 filings) follow non-profit accounting standards (FASB ASC 958), reporting net assets rather than paid-in capital or equity line items. Because internal ledger line items are private and not reported in public filings, the claim cannot be definitively settled with public records.

University of Wisconsin Archives confirm WARF was founded in 1925 with a $900 initial contribution ($100 each from nine alumni).
WARF is organized as a private, non-stock, tax-exempt 501(c)(3) non-profit entity.
Public Form 990 filings and standard non-profit GAAP balance sheets classify equity as net assets and do not disclose internal general ledger accounts or paid-in capital line items.

Checked against

[1] encyclopedia.com [2] wikipedia.org [3] newspaperarchive.com [4] newspaperarchive.com [5] wisc.edu [6] ualberta.ca [7] smartbusinessdealmakers.com [8] sec.gov

"nine alumni" "100 each" OR "$100" WARF OR "Wisconsin Alumni" "Carrie Thome" "WARF" "900" "Wisconsin Alumni Research Foundation" "paid-in" OR "paid in" "nine alumni" "WARF" OR "Wisconsin Alumni Research Foundation" "Wisconsin Alumni Research Foundation" 900 alumni 1925 "books" OR "capital" "Wisconsin Alumni Research Foundation" "nonstock" OR "non-stock" OR "capital stock" "Wisconsin Alumni Research Foundation" "$900" "nine"

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Wisconsin Alumni Research Foundation

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Thome: WARF still carries its original 1925 $900 as paid-in capital

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