Wallace Foundation
- Assets
- $1.3m
- Revenue
- $734.4k
- Investments
- $680.2k
- Employees
- 0
- Location
- Morristown, TN
- Founding
- 01/1964
- Data as of
- 06/2022
- EIN
- 62-6048465
Organization Overview
Wallace Foundation is located in Morristown, TN. The organization was established in 1964. 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 06/2022, Wallace Foundation generated $734.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.0% each year . All expenses for the organization totaled $68.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Wallace Foundation has awarded 103 individual grants totaling $645,109. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doyle M Wallace President | 2 | $0 | |
Robin W Dawson Treasurer | 2 | $0 | |
Lisa W Trusler Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $710,256 |
| Interest on Savings | $12 |
| Dividends & Interest | $12,820 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,680 |
| Capital Gain Net Income | $3,680 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,651 |
| Total Revenue | $734,419 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,297 |
| Total operating and administrative expenses | $4,097 |
| Contributions, gifts, grants paid | $64,170 |
| Total expenses and disbursements | $68,267 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $594,313 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,274,560 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Wallace Foundation has awarded $64,170 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
New Orleans, LA PURPOSE: GENERAL | $15,000 |
Kansas City, MO PURPOSE: GENERAL | $10,500 |
UNITED WAY OF HAMBLEN COUNTY PURPOSE: GENERAL FUND | $6,430 |
HELEN ROSS MCNABB FOUNDATION PURPOSE: GENERAL FUND | $6,000 |
ALL OTHERS PURPOSE: GENERAL FUND | $4,790 |
MORRISTOWN HAMBLEN HOSPITAL FOUNDAT PURPOSE: GENERAL FUND | $3,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Anheuser-Busch Foundation Clayton, MO | $1,201,059 | $8,412,886 |
Carson-Myre Charitable Foundation Paducah, KY | $72,587,857 | $8,781,396 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Steward Family Foundation St Louis, MO | $23,736 | $8,567,873 |
Fraser-Parker Foundation Atlanta, GA | $226,420,772 | $14,099,479 |
Paces Foundation Inc Smyrna, GA | $85,397,872 | $9,603,919 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
The Ma-Ran Foundation Atlanta, GA | $81,838,064 | $4,938,726 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |