Wallace Foundation
- Assets
- $564.6k
- Revenue
- $35.5k
- Investments
- $554.3k
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 06/2010
- Data as of
- 12/2022
- EIN
- 26-3938517
Organization Overview
Wallace Foundation is located in Arlington, VA. The organization was established in 2010. 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 12/2022, Wallace Foundation generated $35.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $40.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Wallace Foundation has awarded 175 individual grants totaling $180,807. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ACCOMPLISHES ITS CHARITABLE PURPOSES SOLELY THROUGH A PROGRAM OF MAKING CHARITABLE GIFTS AND GRANTS AND DOES NOT CONDUCT ANY DIRECT CHARITABLE ACTIVITIES OR MAKE PROGRAM-RELATED INVESTMENTS. THE FOUNDATIONS DOES NOT ALLOCATE ANY OF ITS ADMINISTRATIVE EXPENSES TO DISBURSEMENTS FOR CHARITABLE ACTIVITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc R Wallace Director | 0.5 | $0 | |
Susan C Wallace Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $11,842 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,661 |
| Capital Gain Net Income | $23,661 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $35,505 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,002 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $7,452 |
| Contributions, gifts, grants paid | $33,019 |
| Total expenses and disbursements | $40,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,313 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $554,255 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $564,568 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $35,017 |
| Total liabilities | $35,017 |
Grants Awarded
Over the last fiscal year, Wallace Foundation has awarded $33,972 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
MEMORIAL BAPTIST CHURCH PURPOSE: UNRESTRICTED | $120 |
MASTER GARDENERS OF NORTHERN VIRGINIA PURPOSE: UNRESTRICTED | $100 |
EDUCATION FOR KIDS PURPOSE: UNRESTRICTED | $100 |
LEUKEMIA & LYMPHOMA SOCIETY PURPOSE: UNRESTRICTED | $100 |
ARLINGTON SENIOR BABE RUTH BASEBALL PURPOSE: UNRESTRICTED | $500 |
FPF EDUCATION & INNOVATION FOUNDATION PURPOSE: UNRESTRICTED | $5,000 |