The Wallace Family Foundation
The Wallace Family Foundation is a private foundation based in Key Largo, Florida. Its 2025 filing reports 16 grants totaling $141,350, including support for organizations in several states.
The Wallace Family Foundation at a glance
In short: The Wallace Family Foundation gave $141K across 16 grants in 2025 (avg $9K), mostly in Massachusetts. 19% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $141,350
- +3.1% vs 2024
- Grants made (2025)
- 16
- -20.0% vs 2024
- Average grant
- $8,834
- +28.9% vs 2024
- Median grant
- $2,750
- Total assets
- $745,864
- -7.8% vs 2024
- New grantees (estimate)
- 19% first-time grantees (3 of 16, 2025; small sample)
- Primary geography
- Massachusetts (50% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Wallace Family Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations.
- Contact
Mailing address: 12 Channel Cay Rd, Key Largo, FL 33037
Phone: (617) 240-3390
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who The Wallace Family Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Tower School ($65K). Together the top 10 received $136K.
Grant Size Distribution
70 grants across all recorded years
The most common grant size was under $50K: 69 grants of 70 (99%).
Geographic Focus
Where this funder awards grants
The foundation’s 2025 grant dollars went to recipients in Massachusetts (50%), Florida (17%), New York (16%), Rhode Island (15%), and New Hampshire (1%).
Grant Distribution by State
Share of 2025 grant dollars across all 16 itemized grants.
States
Cities
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. With only 16 grantees, that is a small sample: one grantee more or less moves the share by about 6 points. 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 grant lists in IRS Form 990-PF filings (2021–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $44K (2022) to $141K (2025). In 2025 it made 16 grants totaling $141K.
Grants by year
Grant recipients and amounts by year
| 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 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $745,864 | $140,016 | $203,380 | $141,350 | 16 | $166,575 | $103,211 | $75,478 |
| 2024 | $809,228 | $162,705 | $201,295 | $137,050 | 20 | $162,225 | $123,635 | $73,107 |
| 2023 | $847,818 | $124,972 | $154,485 | $85,710 | 13 | $110,862 | $81,349 | $68,396 |
| 2022 | $877,331 | $155,813 | $116,393 | $43,500 | 12 | $68,563 | $107,983 | $77,234 |
| 2021 | $837,911 | $108,542 | $123,254 | $51,700 | 9 | — | $64,423 | $73,038 |
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.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The available filings do not state a mission for the foundation. Its reported grants include educational support and unrestricted operating or general charitable funds. Recipients include schools, cultural and civic organizations, conservation and heritage organizations, and other charitable organizations.
The Ocean Reef Cultural Center describes its mission as providing educational programs, entertainment, and civic activities for Ocean Reef residents. The Ron Foley Foundation describes its work as supporting pancreatic cancer patients and caregivers and educating the public about the disease. Holderness School describes its mission as fostering the resources of mind, body, and spirit in a caring community.
Grantmaking
In 2025, the foundation gave $141,350 through 16 grants. Grants ranged from $400 to $65,000, with a median grant of $2,750.
The largest reported grant was $65,000 to Tower School in Marblehead, Massachusetts, for educational purposes. Other notable grants included $22,650 to Camp Dudley YMCA in Westport, New York, for unrestricted operating funds; $11,200 to Ocean Reef Cultural Center in Key Largo, Florida, for a general charitable purpose; and $10,000 each to Special Operations Warrior Foundation in Tampa, Florida, and Norman Bird Sanctuary in Middletown, Rhode Island, for operating support.
Other reported 2025 grants included $5,000 to the Preservation Society of Newport County and $2,000 to the International Tennis Hall of Fame, both in Newport, Rhode Island; $5,000 to Merry Mixers – Salem Hospital in Marblehead, Massachusetts; $3,500 to Star Kids Scholarship Program in Middletown, Rhode Island; $2,000 to Mill Reef Fund in Key Largo, Florida; $1,000 to Holderness School in Plymouth, New Hampshire; and $1,000 to Rose Island Lighthouse Fund in Newport, Rhode Island. The Ron Foley Foundation in West Hartford, Connecticut, also received $1,000 in 2025.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Richard C. Wallace as trustee.
The Wallace Family Foundation is led by Richard C. Wallace, Trustee on every filing since 2021 — the only officer listed, and compensated.
Officers on the 2025 filing
Richard C. Wallace
Trustee
On filings since 2021
7 hrs/week
$45K (2021) → $45K (2025)
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $45K, to Richard C Wallace (Trustee).
Frequently asked questions about The Wallace Family Foundation
How much does The Wallace Family Foundation give each year?
The Wallace Family Foundation gave $141K across 16 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $137K across 20 grants.
What is The Wallace Family Foundation's typical grant size?
The Wallace Family Foundation's median grant in 2025 was $2,750, and its average grant was $8,834, across 16 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Wallace Family Foundation that year got $1K on average.
Where does The Wallace Family Foundation give grants?
The Wallace Family Foundation gives mostly in Massachusetts: 50% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were 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).
Does The Wallace Family Foundation give general operating support?
Yes: 81% of The Wallace Family Foundation's 2025 grants with a stated purpose (13 of 16) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Educational" (3 grants).
Who are The Wallace Family Foundation's largest grantees?
The Wallace Family Foundation's largest 2025 grantees include Tower School ($65,000), Camp Dudley YMCA ($22,650) and Ocean Reef Cultural Center ($11,200), according to its 2025 IRS Form 990-PF. Together they received 70% of its itemized 2025 grant dollars.
How large is The Wallace Family Foundation?
The Wallace Family Foundation reported $746K in total assets on its 2025 IRS Form 990-PF. It paid out $167K in qualifying distributions that year, against a required minimum of $75K (roughly 5% of its investment assets).
What does The Wallace Family Foundation fund?
The available filings do not state a mission for the foundation. Its reported grants include educational support and unrestricted operating or general charitable funds. See mission & focus areas ↑
How do I apply for a grant from The Wallace Family Foundation?
The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
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.
Does The Wallace Family Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2025
Live grants for the work The Wallace Family Foundation funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
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Browse active grant opportunities in The Wallace Family Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). The Wallace Family Foundation funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/the-wallace-family-foundation-morg_9ec8331cdd734f93b98eb08e5747a9f6
BibTeX
@misc{grantable_043340295_2026,
author = {{Grantable}},
title = {{The Wallace Family Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-wallace-family-foundation-morg_9ec8331cdd734f93b98eb08e5747a9f6},
note = {Accessed 2026-10-16. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Wallace Family Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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