Dwane L and Velma Lunt Wallace
The Dwane L and Velma Lunt Wallace Charitable Foundation is a private foundation established in 1989 and based in Wichita, Kansas. The foundation was created by Dwane L. Wallace, an industry pioneer and long-time leader of Cessna Aircraft Company, and his wife Velma Lunt Wallace. The foundation operates with no paid staff and is governed by a board of trustees.
Key facts about Dwane L and Velma Lunt Wallace
- EIN
- 48-1071478
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $3,828,485
- Grants made (2024)
- 59
- Average grant
- $64,890
- Median grant
- $35,000
- New grantees (estimate)
- 29% first-time grantees (17 of 59, 2024)
- Total assets
- $55,690,423
- Primary geography
- Kansas (100% of itemized 2024 grant dollars)
- How to apply
- Applicants should submit a full written proposal plus one copy. Full details ↓
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Dwane L and Velma Lunt Wallace funds
By grant dollars, the top recipient states for Dwane L and Velma Lunt Wallace's 59 itemized 2024 grants were Kansas (100%). The most frequent recipient cities were Wichita, KS (48 grants) and Newton, KS (2 grants). None of its 59 grants with a stated purpose were described as general or operating support. Recurring purposes include "Pledged Amount for 2024, per Grant Agreement" (4 grants).
Is Dwane L and Velma Lunt Wallace open to new grantees?
29%
first-time grantees, 2024
In 2024, 17 of 59 grantees (29%) were first-time recipients. First grants averaged $64K; repeat grants $65K. How we count
Medians: $50K first-time, $33K repeat.
- 54% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+16%). Method
- In 2024 it paid out 101% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Dwane L and Velma Lunt Wallace
- How to evaluate Dwane L and Velma Lunt Wallace as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$55.7M
-0.4% YoY
Annual Giving
$3.8M
+14.2% YoY
Grant Count
59
+20.4% YoY
Avg Grant Size
$65K
-5.2% YoY
Under IRS private-foundation payout rules, Dwane L and Velma Lunt Wallace reported a distributable amount of $3.9M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's mission is to support a wide variety of tax-exempt, charitable organizations primarily in the Wichita, Kansas area, and secondarily throughout the State of Kansas. The foundation focuses on the following categories:
- Arts and Culture
- Education
- Community Development and Enhancement
- Social Services and Needs
- Quality of Life
The foundation also supports specific initiatives including STEAM youth camps, training service dogs, culinary programs, and scouting programs for underserved communities.
Grantmaking
Grant Range
$35,000
How to Apply
**
Ready to take the next step with Dwane L and Velma Lunt Wallace?
Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in the Wichita, Kansas area, with secondary focus on organizations throughout the State of Kansas.
Grant Distribution by State
Share of all 59 itemized 2024 grant dollars.
Cities
Financial History
Multi-year comparison from IRS filings
As of December 2024:
- Total assets: $55,690,423
- Total revenues: $4,014,925
- Total expenses: $4,267,431
As of December 2023:
- Total assets: $55,938,181
- Total revenues: $3,488,317
- Total expenses: $3,807,017
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $55,690,423 | $55,938,181 | $56,293,169 |
| Revenue | $4,014,925 | $3,488,317 | $3,071,474 |
| Expenses | $4,267,431 | $3,807,017 | $4,455,794 |
| Qualifying Distributions | $3,947,292 | $3,539,425 | $4,044,187 |
| Net Investment Income | $3,679,248 | $3,220,725 | $2,727,908 |
| Distributable Amount | $3,908,356 | $3,525,855 | $3,580,006 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
245 grants across all recorded years
Open Grants
1 open opportunity from Dwane L and Velma Lunt Wallace
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Ku Endowment Assn ($500,000), Wichita Public Library Foundation ($300,000), Orpheum Performing Arts Center Ltd ($250,000).
| Recipient | Purpose | Amount |
|---|---|---|
| KU ENDOWMENT ASSN Lawrence, KS | EDUCATION PROGRAMS, PER GRANT AGREEMENT | $500,000 |
| WICHITA PUBLIC LIBRARY FOUNDATION Wichita, KS | PLEDGED AMOUNT FOR 2024, PER GRANT AGREEMENT | $300,000 |
| ORPHEUM PERFORMING ARTS CENTER LTD Wichita, KS | PLEDGED AMOUNT FOR 2024, PER GRANT AGREEMENT | $250,000 |
| FUNDAMENTAL LEARNING CENTER INC Wichita, KS | COMMITMENT FOR 2024, PER GRANT AGREEMENT | $214,286 |
| EMPOWER EVERGREEN INC Wichita, KS | PLEDGED AMOUNT FOR 2024, PER GRANT AGREEMENT | $125,000 |
| WICHITA STATE UNIVERSITY FOUNDATION Wichita, KS | PLEDGED AMOUNT FOR 2024, PER GRANT AGREEMENT | $125,000 |
| FIRST TEE-GREATER WICHITA Wichita, KS | CONSTRUCTION OF A YOUTH DEVELOPMENT FACILITY | $125,000 |
| KANSAS FOODBANK WAREHOUSE Wichita, KS | FOOD DISTRIBUTION PROGRAM | $100,000 |
| FREEDOM HOOVES THERAPEUTIC RIDING CENTER Wichita, KS | HOPE IN MOTION CAMPAIGN | $100,000 |
| HUNTER HEALTH CLINIC INC Wichita, KS | NEW COMMUNITY WELLNESS CENTER | $100,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation's board of trustees includes:
- Linda Wallace Jones (Trustee)
- James A Johnson (Trustee)
- Sarah W Bracco (Trustee)
- Douglas J Brehm (Trustee)
- Darcee Datteri (Trustee)
Compensation Overview
From 2024 IRS filing
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Linda Wallace Jones | Trustee | 2 | $20,000 |
| James a Johnson | Trustee | 2 | $20,000 |
| Sarah W Bracco | Trustee | 2 | $20,000 |
| Douglas J Brehm | Trustee | 5 | $40,000 |
| Darcee Datteri | Trustee | 5 | $6,250 |
Frequently Asked Questions
What does Dwane L and Velma Lunt Wallace fund?
The foundation's mission is to support a wide variety of tax-exempt, charitable organizations primarily in the Wichita, Kansas area, and secondarily throughout the State of Kansas. The foundation focuses on the following categories: • Arts and Culture • Education • Community Development and Enhancement • Social Services and Needs • Quality of Life The foundation also supports specific initiatives including STEAM youth camps, training service dogs, culinary programs, and scouting programs for un…
How do I apply for a grant from Dwane L and Velma Lunt Wallace?
Applicants should submit a full written proposal plus one copy. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does Dwane L and Velma Lunt Wallace make grants?
The foundation primarily funds organizations in the Wichita, Kansas area, with secondary focus on organizations throughout the State of Kansas.
What size grants does Dwane L and Velma Lunt Wallace award?
In 2024, Dwane L and Velma Lunt Wallace awarded 59 grants totaling $3.8M — an average of about $65K per grant, based on its IRS Form 990 filings.
How much is Dwane L and Velma Lunt Wallace required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Dwane L and Velma Lunt Wallace reported a distributable amount of $3.9M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Dwane L and Velma Lunt Wallace's EIN?
Dwane L and Velma Lunt Wallace's EIN (Employer Identification Number) is 48-1071478. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.