The Wallace Research Foundation
- Assets
- $69.9m
- Revenue
- $4.8m
- Investments
- $67.6m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 05/1996
- Data as of
- 12/2023
- 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 12/2023, Wallace Research Foundation generated $4.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $5.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wallace Research Foundation has awarded 403 individual grants totaling $42,352,255. 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 Vice President | 20 | $0 | |
Marshall Gilchrist Director & Secretary | 2 | $0 | |
Alex Gilchrist Treasurer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley Smith Barney | 12/30/23 | $471,301 |
Rsm Us Llp | 12/30/23 | $57,445 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,896,292 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,911,140 |
| Capital Gain Net Income | $2,911,140 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,807,432 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $35,461 |
| Taxes | $77,813 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,835 |
| Total operating and administrative expenses | $647,091 |
| Contributions, gifts, grants paid | $4,438,375 |
| Total expenses and disbursements | $5,085,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,572 |
| Savings and temporary cash investments | $2,329,237 |
| 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 | $19,272,987 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $69,897,282 |
| 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 $4,438,375 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
AGR FOUNDATION INC PURPOSE: ASSIST WITH PROGRAM EXPENSES, EQUIPMENT, SUPPLIES, RENT, AND UTILITIES | $20,000 |
AGR FOUNDATION INC PURPOSE: COST ASSOCIATED WITH CONSTRUCTION OF SOL DOL LODGE AND TRAINING CENTER | $50,000 |
AGR FOUNDATION INC PURPOSE: COST ASSOCIATED WITH CONSTRUCTION OF SOL DOL LODGE AND TRAINING CENTER | $55,000 |
AMERIND FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $52,500 |
ARCHAEOLOGY SOUTHWEST PURPOSE: SUPPORT THE PRESERVATION ARCHAEOLOGY ENDOWMENT FUND | $210,000 |
ARCHAEOLOGY SOUTHWEST PURPOSE: SUPPORT RESEARCH PROGRAMS | $300,000 |