Wallace Foundation
- Assets
- $4.3m
- Revenue
- $3.0m
- Investments
- $4.0m
- Employees
- 0
- Location
- Morristown, TN
- Founding
- 01/1964
- Data as of
- 06/2023
- 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 06/2023, Wallace Foundation generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 41.7% each year . All expenses for the organization totaled $140.3k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Wallace Foundation has awarded 134 individual grants totaling $765,449. 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 | $2,910,971 |
| Interest on Savings | $2,866 |
| Dividends & Interest | $40,857 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,053 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,679 |
| Total Revenue | $2,965,426 |
| 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 | $14,204 |
| Total operating and administrative expenses | $19,958 |
| Contributions, gifts, grants paid | $120,340 |
| Total expenses and disbursements | $140,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,896 |
| 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 | $4,271,907 |
| 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 $120,340 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
HELEN ROSS MCNABB FOUNDATION PURPOSE: GENERAL FUND | $8,500 |
CARSON NEWMAN UNIVERSITY PURPOSE: SCHOLARSHIP | $27,760 |
UNITED WAY OF HAMBLEN COUNTY PURPOSE: GENERAL FUND | $7,000 |
LAKEWAY FCA PURPOSE: GENERAL FUND | $2,500 |
ALL OTHERS PURPOSE: GENERAL FUND | $4,580 |
LAKEWAY CASA PURPOSE: GENERAL | $1,000 |