The Wallace Family Foundation
The Wallace Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Key Largo, FL. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $746K in total assets. In 2025, it awarded 16 grants totaling $141K. Net investment income was $103K.
Key facts about The Wallace Family Foundation
- EIN
- 04-3340295
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $141,350
- Grants made (2025)
- 16
- Average grant
- $8,834
- Median grant
- $2,750
- New grantees (estimate)
- 19% first-time grantees (3 of 16, 2025)
- Total assets
- $745,864
- Primary geography
- Massachusetts (50% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who The Wallace Family Foundation funds
By grant dollars, the top recipient states for The Wallace Family Foundation's 16 itemized 2025 grants were Massachusetts (50%), Florida (17%) and New York (16%). The most frequent recipient cities were Key Largo, FL (3 grants), Newport, RI (3 grants), Marblehead, MA (2 grants) and Middletown, RI (2 grants). 81% of grants with a stated purpose were for general or operating support. Recurring purposes include "Educational" (3 grants).
Is The Wallace Family Foundation open to new grantees?
19%
first-time grantees, 2025
In 2025, 3 of 16 grantees (19%) were first-time recipients. First grants averaged $1K; repeat grants $11K. How we count
Medians: $1K first-time, $5K repeat.
- 69% of 2025 grantees were also funded in 2024. Method
- Giving grew 225% from 2022 to 2025. Method
- In 2025 it paid out 221% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2021–2025). 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 The Wallace Family Foundation
- How to evaluate The Wallace Family Foundation as a funder
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Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$746K
-7.8% YoY
Annual Giving
$141K
+3.1% YoY
Grant Count
16
-20.0% YoY
Avg Grant Size
$9K
+28.9% YoY
Under IRS private-foundation payout rules, The Wallace Family Foundation reported a distributable amount of $75K for 2025 — the minimum it must pay out in qualifying distributions.
About The Wallace Family Foundation
Based on IRS filings
The Wallace Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Key Largo, FL. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $746K in total assets. In 2025, it awarded 16 grants totaling $141K. Net investment income was $103K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 16 itemized 2025 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $745,864 | $809,228 | $847,818 |
| Revenue | $140,016 | $162,705 | $124,972 |
| Expenses | $203,380 | $201,295 | $154,485 |
| Qualifying Distributions | $166,575 | $162,225 | $110,862 |
| Net Investment Income | $103,211 | $123,635 | $81,349 |
| Distributable Amount | $75,478 | $73,107 | $68,396 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
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 2025
Grant Size Distribution
70 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest recipients include Tower School ($65,000), Camp Dudley YMCA ($22,650), ocean reef cultural center ($11,200).
| Recipient | Purpose | Amount |
|---|---|---|
| TOWER SCHOOL Marblehead, MA | EDUCATIONAL | $65,000 |
| CAMP DUDLEY YMCA Westport, NY | UNRESTRICTED OPERATING FUNDS | $22,650 |
| ocean reef cultural center Key Largo, FL | FOR A GENERAL CHARITABLE PURPOSE | $11,200 |
| SPECIAL OPERATIONS WARRIOR FOUNDATI Tampa, FL | UNRESTRICTED OPERATING FUNDS | $10,000 |
| NORMAN BIRD SANCTUARY Middletown, RI | UNRESTRICTED OPERATIONAL FUND | $10,000 |
| Preservation Society of Newport Cou Newport, RI | GENERAL CHARITABLE PURPOSE | $5,000 |
| MERRY MIXERS - SALEM HOSPITAL Marblehead, MA | UNRESTRICTED DONATION | $5,000 |
| Star Kids Scholarship PROGRAM Middletown, RI | EDUCATIONAL | $3,500 |
| MILL REEF FUND Key Largo, FL | UNRESTRICTED OPERATING FUNDS | $2,000 |
| International Tennis Hall of Fame I Newport, RI | FOR A GENERAL CHARITABLE PURPOSE | $2,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2025 IRS filing
From 2025 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Richard C Wallace | Trustee | 7 | $45,000 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Wallace Family Foundation?
The Wallace Family Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Key Largo, FL. It holds $746K in total assets as of 2025.
How large is The Wallace Family Foundation?
As of 2025, The Wallace Family Foundation holds $746K in total assets with $140K in annual revenue. It awarded 16 grants totaling $141K in 2025.
Where does The Wallace Family Foundation operate?
The Wallace Family Foundation has awarded grants in California, Connecticut, District of Columbia, Florida, Georgia, Massachusetts, Maryland, New Hampshire, New Jersey, New York, Rhode Island, Tennessee.
What size grants does The Wallace Family Foundation award?
In 2025, The Wallace Family Foundation awarded 16 grants totaling $141K — an average of about $9K per grant, based on its IRS Form 990 filings.
How much is The Wallace Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, The Wallace Family Foundation reported a distributable amount of $75K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Wallace Family Foundation's EIN?
The Wallace Family Foundation's EIN (Employer Identification Number) is 04-3340295. IRS Form 990 filing data is available on this page for 2021–2025.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.