The Wallace Research Foundation
- Assets
- $70.3m
- Revenue
- $6.2m
- Investments
- $66.7m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 05/1996
- Data as of
- 12/2021
- EIN
- 42-6540579
Organization Overview
The Wallace Research Foundation is located in Cedar Rapids, IA. The organization was established in 1996. 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 Research 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 Research Foundation generated $6.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wallace Research Foundation has awarded 286 individual grants totaling $28,841,814. 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 |
|---|---|---|---|
Henry D Wallace President | 5 | $0 | |
Linda Wallace-Gray VP & Treasurer | 20 | $0 | |
Marshall Gilchrist Director & Secretary | 2 | $0 | |
Alex Gilchrist Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley Smith Barney | 12/30/21 | $196,234 |
Eagle Capital Management | 12/30/21 | $330,381 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,665,767 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,552,768 |
| Capital Gain Net Income | $4,552,768 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,218,535 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1,026 |
| Taxes | $95,724 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $354 |
| Total operating and administrative expenses | $679,259 |
| Contributions, gifts, grants paid | $4,483,516 |
| Total expenses and disbursements | $5,162,775 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,592,020 |
| 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 | $22,003,461 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $28,502 |
| Total assets | $70,317,475 |
| 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, The Wallace Research Foundation has awarded $4,483,516 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
Portland, OR PURPOSE: SUPPORT THE COLD WATER CONNECTION CAMPAIGN | $400,000 |
YALE SCHOOL OF MEDICINE PURPOSE: FUND RESEARCH IN THE TREATMENT OF MAJOR DEPRESSIVE DISORDERS | $283,706 |
New York, NY PURPOSE: FUND THE PROJECT TO MITIGATE THE RISK OF ZOONOTIC DISEASE EMERGENCE VIA HUMAN-WILDLIFE INTERACTIONS IN SOUTHEAST ASIA, | $250,000 |
THE CLIMATE CENTER PURPOSE: SUPPORT THE CLIMATE-SAFE CALIFORNIA CAMPAIGN | $250,000 |
Tucson, AZ PURPOSE: SUPPORT THE GARDENS, COMPUTER TECHNOLOGY, AND CONSERVATION EDUCATION PROGRAMS | $250,000 |
UNIVERSITY OF MICHIGAN PURPOSE: ASSIST WITH THE COSTS ASSOCIATED WITH SALARY AND OTHER PERSONNEL COSTS | $247,810 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |