<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2022v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-01-16T09:20:09-05:00</ReturnTs>
    <TaxPeriodEndDt>2023-02-28</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>640394922</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>WATKINS WARD AND STAFFORD PLLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>PO BOX 1216</AddressLine1Txt>
        <CityNm>WEST POINT</CityNm>
        <StateAbbreviationCd>MS</StateAbbreviationCd>
        <ZIPCd>39773</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990EZ</ReturnTypeCd>
    <TaxPeriodBeginDt>2022-03-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>311511701</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>OLD WAVERLY FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>OLDW</BusinessNameControlTxt>
      <PhoneNum>6624945732</PhoneNum>
      <USAddress>
        <AddressLine1Txt>ONE MAGNOLIA DRIVE</AddressLine1Txt>
        <CityNm>WEST POINT</CityNm>
        <StateAbbreviationCd>MS</StateAbbreviationCd>
        <ZIPCd>39773</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>BOYCE ADAMS</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>6624945732</PhoneNum>
      <SignatureDt>2024-01-10</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>BOYCE</PersonFirstNm>
        <PersonLastNm>ADAMS</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>KIMBERLY S CASKEY CPA</PreparerPersonNm>
      <PTIN>P01353014</PTIN>
      <PhoneNum>6624945732</PhoneNum>
      <PreparationDt>2024-01-10</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2022</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="3">
    <IRS990EZ documentId="RetDoc2" referenceDocumentId="RetDoc3">
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
      <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
      <Organization501c3Ind referenceDocumentId="RetDoc4">X</Organization501c3Ind>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <GrossReceiptsAmt>46503</GrossReceiptsAmt>
      <InfoInScheduleOPartIInd>X</InfoInScheduleOPartIInd>
      <ContributionsGiftsGrantsEtcAmt>27250</ContributionsGiftsGrantsEtcAmt>
      <InvestmentIncomeAmt>941</InvestmentIncomeAmt>
      <OtherRevenueTotalAmt>18312</OtherRevenueTotalAmt>
      <TotalRevenueAmt>46503</TotalRevenueAmt>
      <FeesAndOtherPymtToIndCntrctAmt>1496</FeesAndOtherPymtToIndCntrctAmt>
      <OccupancyRentUtltsAndMaintAmt>9683</OccupancyRentUtltsAndMaintAmt>
      <OtherExpensesTotalAmt>11009</OtherExpensesTotalAmt>
      <TotalExpensesAmt>22188</TotalExpensesAmt>
      <ExcessOrDeficitForYearAmt>24315</ExcessOrDeficitForYearAmt>
      <NetAssetsOrFundBalancesBOYAmt>332646</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>356961</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIInd>X</InfoInScheduleOPartIIInd>
      <CashSavingsAndInvestmentsGrp>
        <BOYAmt>52646</BOYAmt>
        <EOYAmt>91063</EOYAmt>
      </CashSavingsAndInvestmentsGrp>
      <LandAndBuildingsGrp>
        <BOYAmt>212478</BOYAmt>
        <EOYAmt>205445</EOYAmt>
      </LandAndBuildingsGrp>
      <OtherAssetsTotalDetail>
        <BOYAmt>67522</BOYAmt>
        <EOYAmt>60453</EOYAmt>
      </OtherAssetsTotalDetail>
      <Form990TotalAssetsGrp>
        <BOYAmt>332646</BOYAmt>
        <EOYAmt>356961</EOYAmt>
      </Form990TotalAssetsGrp>
      <NetAssetsOrFundBalancesGrp>
        <BOYAmt>332646</BOYAmt>
        <EOYAmt>356961</EOYAmt>
      </NetAssetsOrFundBalancesGrp>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <PrimaryExemptPurposeTxt>PROMOTES EDUCATION THROUGH GOLF AND ASSOCIATED ACTIVITIES.</PrimaryExemptPurposeTxt>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>PROMOTES EDUCATION THROUGH GOLF AND ASSOCIATED ACTIVITIES.</DescriptionProgramSrvcAccomTxt>
        <ProgramServiceExpensesAmt>10808</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>PROMOTES EDUCATION THROUGH GOLF AND ASSOCIATED ACTIVITIES.</DescriptionProgramSrvcAccomTxt>
        <ProgramServiceExpensesAmt>5943</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <TotalProgramServiceExpensesAmt>16751</TotalProgramServiceExpensesAmt>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>JAMES L STAFFORD</PersonNm>
        <TitleTxt>SECRETARY/TR</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>BOYCE ADAMS</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>GEORGE W BRYAN JR</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>TROY BLANTON</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>SHANE WILLIAMS</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
      <ChgMadeToOrgnzngDocNotRptInd>false</ChgMadeToOrgnzngDocNotRptInd>
      <OrganizationHadUBIInd>true</OrganizationHadUBIInd>
      <OrganizationFiled990TInd>true</OrganizationFiled990TInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
      <Form1120PolFiledInd>false</Form1120PolFiledInd>
      <MadeLoansToFromOfficersInd>false</MadeLoansToFromOfficersInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <BooksInCareOfDetail>
        <PersonNm>JAMES LEE STAFFORD</PersonNm>
        <USAddress>
          <AddressLine1Txt>PO BOX 1216</AddressLine1Txt>
          <CityNm>WEST POINT</CityNm>
          <StateAbbreviationCd>MS</StateAbbreviationCd>
          <ZIPCd>39773</ZIPCd>
        </USAddress>
        <PhoneNum>6624945732</PhoneNum>
      </BooksInCareOfDetail>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <DonorAdvisedFndsInd>false</DonorAdvisedFndsInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <TanningServicesProvidedInd>false</TanningServicesProvidedInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TransactionWithControlEntInd>false</TransactionWithControlEntInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <PartVIOfCompOfHghstPdEmplTxt>NONE</PartVIOfCompOfHghstPdEmplTxt>
      <PartVIHghstPdCntrctProfSrvcTxt>NONE</PartVIHghstPdCntrctProfSrvcTxt>
      <FiledScheduleAInd>true</FiledScheduleAInd>
    </IRS990EZ>
    <IRS990ScheduleA documentId="RetDoc4">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>20000</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>76898</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>45000</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>28000</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>27250</CurrentTaxYearAmt>
        <TotalAmt>197148</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>20000</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>76898</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>45000</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>28000</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>27250</CurrentTaxYearAmt>
        <TotalAmt>197148</TotalAmt>
      </TotalCalendarYear170Grp>
      <PublicSupportTotal170Amt>197148</PublicSupportTotal170Amt>
      <UnrelatedBusinessNetIncm170Grp>
        <CurrentTaxYearMinus4YearsAmt>2133</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>5246</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>2012</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>17597</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>17312</CurrentTaxYearAmt>
        <TotalAmt>44300</TotalAmt>
      </UnrelatedBusinessNetIncm170Grp>
      <OtherIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>2811</CurrentTaxYearMinus4YearsAmt>
        <TotalAmt>2811</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>244259</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>30541</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.80710</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.83510</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART II, LINE 10</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER INCOME 2,811</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
    </IRS990ScheduleA>
    <IRS990ScheduleO documentId="RetDoc3">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART I, LINE 8</FormAndLineReferenceDesc>
        <ExplanationTxt>COTTAGE RENT 18,312 TOTAL 18,312</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART I, LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>EXPENSES TAXES 3,905 BANK FEES 36 NON-INVESTMENT DEPRECIATION 7,068 TOTAL 11,009</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART II, LINE 24</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER 115,356 115,356 LESS ACCUMULATED DEPRECIATION 48,616 55,685 UTILITY DEPOSITS 782 782 TOTAL 67,522 60,453</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART III, LINE 31</FormAndLineReferenceDesc>
        <ExplanationTxt>PROMOTES EDUCATION THROUGH GOLF AND ASSOCIATED ACTIVITIES.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
