Wallace Trust Foundation
- Assets
- $250.8k
- Revenue
- $295.9k
- Investments
- $0.0
- Employees
- 0
- Location
- McGehee, AR
- Founding
- 10/1995
- Data as of
- 12/2021
- 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 12/2021, Wallace Trust Foundation generated $295.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $295.2k 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 Trust Foundation has awarded 144 individual grants totaling $2,035,506. 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
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.
THE FOUNDATION SERVED AS A CONDUIT THROUGH WITH THE JOSEPH FRANCIS WALLACE TRUST MADE CONTRIBUTIONS TO OTHER CHARITABLE ORGANIZATIONS.
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 | |
James R Daniels Trustee | 0.25 | $0 | |
Robert Lucky Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $295,134 |
| Interest on Savings | $810 |
| 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 | $295,944 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $810 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $69 |
| Total operating and administrative expenses | $1,729 |
| Contributions, gifts, grants paid | $293,474 |
| Total expenses and disbursements | $295,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $841 |
| Savings and temporary cash investments | $250,000 |
| 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 | $250,841 |
| 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 | $250,000 |
| Total liabilities | $250,000 |
Grants Awarded
Over the last fiscal year, Wallace Trust Foundation has awarded $293,474 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
MCGEHEE HOSPITAL FOUNDATION PURPOSE: CHARITY | $130,824 |
BOYS GIRLS CLUB OF MCGEHEE PURPOSE: CHARITY | $50,000 |
MCGEHEE FOOD PANTRY PURPOSE: CHARITY | $31,000 |
SALVATION ARMY PURPOSE: CHARITY | $25,000 |
UAM FOUNDATION PURPOSE: SCHOLARSHIP | $25,000 |
Mcgehee, AR PURPOSE: CHARITY | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas A & M University 12th Man Foundation College Station, TX | $205,287,780 | $55,896,745 |
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |