The Wallace Foundation
- Assets
- $0.0
- Revenue
- $138.8m
- Investments
- $1.9b
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/1965
- Data as of
- 12/2021
- 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 12/2021, Wallace Foundation generated $138.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $67.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Wallace Foundation has awarded 1,188 individual grants totaling $219,913,423. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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.
RESEARCH: COMMISSION RESEARCH AND EVALUATION STUDIES TO INFORM AND SUPPORT THE IMPLEMENTATION OF WALLACE INITIATIVES AND PROVIDE INSIGHTS ABOUT PRACTICE IMPROVEMENTS FOR THE FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Policy Studies Associates Inc | 12/30/22 | $968,344 |
Westat Inc | 12/30/22 | $814,012 |
The Hatcher Group | 12/30/22 | $725,427 |
Educationcounsel Llc | 12/30/22 | $436,690 |
Acronym Media Inc | 12/30/22 | $392,052 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25 |
| Interest on Savings | $950,093 |
| Dividends & Interest | $8,440,367 |
| Profit on Inventory Sales | $0 |
| Other Income | $559,137 |
| Total Revenue | $138,837,624 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,952,924 |
| Pension plans, employee benefits | $3,065,887 |
| Depreciation | $685,962 |
| Occupancy | $1,729,142 |
| Travel, conferences, and meetings | $46,965 |
| Printing and publications | $14,198 |
| Total operating and administrative expenses | $26,519,017 |
| Contributions, gifts, grants paid | $40,616,873 |
| Total expenses and disbursements | $67,135,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $141,349,365 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,690,283,502 |
| Other assets | $1,709,625 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $12,119,249 |
Grants Awarded
Over the last fiscal year, The Wallace Foundation has awarded $90,699,490 in support to 325 organizations.
| Grant Recipient | Amount |
|---|---|
1HOOD MEDIA ACADEMY PURPOSE: A PLANNING GRANT TO PREPARE FOR IMPLEMENTATION WORK AS PART OF A NEW ARTS INITIATIVE. | $237,000 |
AFTERSCHOOL ALLIANCE PURPOSE: FUNDING WILL SUPPORT AFTERSCHOOL ALLIANCE PARTNERSHIP IN THE DEVELOPMENT, MEANING-MAKING, AND DISSEMINATION OF AN UPDATED OST COST STUDY. | $100,000 |
AMERICAN ALLIANCE OF MUSEUMS PURPOSE: TO SUPPORT AAM AS A COMMUNICATIONS PARTNER. | $100,000 |
AFTERSCHOOL ALLIANCE PURPOSE: TO SUPPORT AFTERSCHOOL ALLIANCE AS A COMMUNICATIONS PARTNER. | $175,000 |
AMERICAN ASSOCIATION OF SCHOOL ADMINISTRATORS PURPOSE: TO SUPPORT AASA AS A COMMUNICATIONS PARTNER. | $175,000 |
AMERICAN ASSOCIATION OF COLLEGES FOR TEACHER EDUCATION PURPOSE: TO SUPPORT AACTE AS A COMMUNICATIONS PARTNER. | $100,000 |