Wallace Trust Foundation
- Assets
- $0.0
- Revenue
- $11.3k
- Investments
- $0.0
- Employees
- 0
- Location
- McGehee, AR
- Founding
- 10/1995
- Data as of
- 12/2022
- EIN
- 71-0754251
Organization Overview
Wallace Trust Foundation is located in McGehee, AR. The organization was established in 1995. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wallace Trust 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 Trust Foundation generated $11.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (32.4%) each year. All expenses for the organization totaled $12.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (31.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wallace Trust Foundation has awarded 150 individual grants totaling $2,047,256. 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 SERVED AS A CONDUIT THROUGH WHICH A RELATED 501(C)(3) ORGANIZATION, JOSEPH FRANCIS WALLACE TRUST, WAS ABLE TO PROVIDE FOR THE EDUCATIONAL EXPENSES OF STUDENTS AND ASSISTANCE FOR THOSE WITH HARDSHIPS.
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 |
|---|---|---|---|
Gibbs Ferguson Trustee | 1 | $0 | |
Robert Lucky Trustee | 0.25 | $0 | |
James R Daniels Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,909 |
| Interest on Savings | $374 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,283 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $374 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $374 |
| Contributions, gifts, grants paid | $11,750 |
| Total expenses and disbursements | $12,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| 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 Trust Foundation has awarded $11,750 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF MCGEHEE-PARKS REC PURPOSE: CHARITY | $2,000 |
SOUTH MCGEHEE HWY 65 CEMETARY MAINT PURPOSE: CHARITY | $500 |
FRIENDS OF MCGEHEE BRANCH LIBRARY PURPOSE: CHARITY | $1,000 |
CITY OF MCGEHEE-POLICE VESTS PURPOSE: CHARITY | $7,500 |
JOHNNY POLITE MEMORIAL FOUNDATION PURPOSE: CHARITY | $250 |
SAFE PROM PURPOSE: CHARITY | $500 |