The Wallace Foundation
- Assets
- $1.8b
- Revenue
- $114.5m
- Investments
- $1.8b
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/1965
- Data as of
- 12/2020
- EIN
- 13-6183757
Organization Overview
The Wallace Foundation is located in New York, NY. The organization was established in 1965. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wallace Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Wallace Foundation generated $114.5m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $73.6m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Wallace Foundation has awarded 863 individual grants totaling $129,213,933. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNICAL ASSISTANCE: PROVIDE COORDINATION AND FACILITATION OF LEARNING COMMUNITIES AND TECHNICAL ASSISTANCE TO GRANTEES PARTICIPATING IN OUR YOUTH ARTS, EDUCATION LEADERSHIP, AND OUT OF SCHOOL TIME INITIATIVES.
RESEARCH: COMMISSION RESEARCH AND EVALUATION STUDIES TO INFORM AND SUPPORT THE IMPLEMENTATION OF WALLACE INITIATIVES AND PROVIDE INSIGHTS ABOUT PRACTICE IMPROVEMENTS FOR THE FIELD.
DISSEMINATION: THROUGH CONFERENCE PRESENTATIONS, WEBINARS, PRINT ADVERTISING AND MEDIA OUTREACH, SHARE WALLACE RESEARCH FINDINGS WITH NON-GRANTEE AUDIENCES, WHO CAN USE THE FINDINGS TO IMPROVE THEIR OWN WORK.
POLICY: PUBLIC POLICY ENGAGEMENT ACTIVITIES INCLUDE, WITHIN THE CONSTRAINTS OF THE LAW, SHARING EVIDENCE OF WHAT WORKS AND ENCOURAGING STATES TO SEEK ESSA FUNDING FOR EVIDENCE-BASED LEADERSHIP WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | 1 | $0 | |
Patrick Sherwood Md-Investments | 50 | $414,426 | |
Joyce Zhang Senior - Investments | 50 | $358,650 | |
Bronwyn Bevan Director - Research | 50 | $341,955 | |
Bahia Ramos Director - Arts | 50 | $304,301 | |
Jody Spiro Dir - Ed. Leadership | 50 | $304,244 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Acronym Media Inc | 12/30/21 | $800,242 |
Policy Studies Associates Inc | 12/30/21 | $1,008,898 |
Learning Agenda Inc | 12/30/21 | $794,328 |
The Hatcher Group | 12/30/21 | $1,293,569 |
Educationcounsel Llc | 12/30/21 | $615,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,527,946 |
| Dividends & Interest | $6,445,707 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $106,565,980 |
| Capital Gain Net Income | $21,577,965 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$4,155 |
| Total Revenue | $114,535,478 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,950,608 |
| Other employee salaries and wages | $6,707,296 |
| Pension plans, employee benefits | $3,008,837 |
| Interest | $0 |
| Taxes | $1,190,531 |
| Depreciation | $674,546 |
| Occupancy | $1,696,112 |
| Travel, conferences, and meetings | $146,978 |
| Printing and publications | $79,766 |
| Other expenses | $825,500 |
| Total operating and administrative expenses | $26,362,814 |
| Contributions, gifts, grants paid | $47,201,142 |
| Total expenses and disbursements | $73,563,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,896,364 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $200,101 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,498,197,347 |
| Net Land, buildings, and equipment | $8,638,536 |
| Other assets | $841,462 |
| Total assets | $1,815,949,042 |
| Accounts payable and accrued expenses | $2,099,650 |
| Grants payable | $16,278,471 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $9,956,970 |
| Total liabilities | $28,335,091 |
Grants Awarded
Over the last fiscal year, The Wallace Foundation has awarded $57,416,656 in support to 352 organizations.
| Grant Recipient | Amount |
|---|---|
Durham, NC PURPOSE: TO CONNECT DISTRICTS TO RESOURCES TO SUPPORT THE DEVELOPMENT OF A THREE-YEAR SUMMER LEARNING PLAN; PLAN AND FACILITATE A SUMMER LEARNING COMMUNITY; AND CURATE, ASSEMBLE AND VET RELATED SUPPORTING TOOLS. | $3,139,854 |
Santa Monica, CA PURPOSE: TO CONDUCT AN EVALUATION OF THE PARTNERSHIPS FOR SOCIAL AND EMOTIONAL LEARNING INITIATIVE. | $2,406,276 |
Santa Monica, CA PURPOSE: TO CONDUCT AN EVALUATION OF THE PARTNERSHIPS FOR SOCIAL AND EMOTIONAL LEARNING INITIATIVE. | $2,100,000 |
BOARD OF EDUCATION OF JEFFERSON COUNTY KENTUCKY PURPOSE: TO PARTICIPATE IN THE EQUITY-CENTERED PIPELINE INITIATIVE. | $1,790,000 |
Baltimore, MD PURPOSE: FOR BALTIMORE CITY PUBLIC SCHOOLS TO PARTICIPATE IN THE EQUITY-CENTERED PIPELINE INITIATIVE. | $1,790,000 |
COLUMBUS CITY SCHOOLS PURPOSE: TO PARTICIPATE IN THE EQUITY-CENTERED PIPELINE INITIATIVE. | $1,790,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Wallace Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Colton Famliy Foundation Short Hills, NJ PURPOSE: UNRESTRICTED | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |
The Heinz Endowments Pittsburgh, PA | $0 | $54,378,087 |
Zoom Foundation Greenwich, CT | $956,305,373 | $176,914,821 |
Fidelity Foundation Boston, MA | $2,530,107,332 | $803,389,715 |
Klarman Family Foundation Boston, MA | $754,784,032 | $145,872,662 |
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |