The Wallace Foundation
The Wallace Foundation is a private foundation based in New York, New York. It supports initiatives in the arts, education leadership, and youth development, with grantmaking designed both to help participating organizations advance their work and to generate knowledge that can benefit those fields.
Key facts about The Wallace Foundation
In short: The Wallace Foundation gave $54.6M across 318 grants in 2024 (avg $172K), top state District of Columbia. 29% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 13-6183757
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $54,577,768
- Grants made (2024)
- 318
- Average grant
- $171,628
- Median grant
- $25,965
- New grantees (estimate)
- 29% first-time grantees (67 of 228, 2024)
- Total assets
- $1,756,582,199
- Primary geography
- District of Columbia (13% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation does not accept unsolicited requests. Full details ↓
- Deadline
- The listed 2025 arts research proposal deadlines have passed; the foundation’s requests-for-proposals page currently…
Data from IRS Form 990-PF, 2024; updated October 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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.8B
+3.0% YoY
Annual Giving
$54.6M
-11.1% YoY
Grant Count
318
+49.3% YoY
Avg Grant Size
$172K
-40.4% YoY
Under IRS private-foundation payout rules, The Wallace Foundation reported a distributable amount of $83.5M for 2024 — the minimum it must pay out in qualifying distributions.
Is The Wallace Foundation open to new grantees?
29%
first-time grantees, 2024
In 2024, 67 of 228 grantees (29%) were first-time recipients. First grants averaged $100K; repeat grants $297K. How we count
Medians: $2K first-time, $100K repeat.
- 48% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+15%). Method
- In 2024 it paid out 94% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The foundation’s mission is “to help all communities build a more vibrant and just future by fostering advances in the arts, education leadership, and youth development.” Its three areas of interest are the arts, school leadership, and youth development. Its work includes supporting arts organizations and arts learning for young people; working with school districts, universities, and states on effective leadership of principals and other educators; and making high-quality education and enrichment available to young people in and outside the classroom.
Grant recipients include arts organizations, school districts, universities, and research organizations. For example, the National Association of Latino Arts and Culture describes its mission as promoting and advancing the Latino arts field. Alternate ROOTS says it serves artists working for social justice and artists creating work within communities. First Peoples Fund describes its mission as supporting Indigenous artists and culture bearers. These are the grantees’ own descriptions, not Wallace’s stated mission.
Grantmaking
In filing year 2024, Wallace reported 318 grants totaling $54,577,768. Grant amounts ranged from $34 to $3,000,000, with a median of $25,965. The foundation’s website says its grants are generally larger and longer in duration than those of similar foundations, averaging about $400,000 over 2.8 years.
Among its largest 2024 grants, the foundation awarded $3,000,000 each to the National Association of Latino Arts and Culture, Alternate ROOTS, and First Peoples Fund to participate in its Advancing Well-Being in the Arts initiative. It awarded $2,252,202 to the Board of Regents of the University of Wisconsin System to study work by districts participating in Wallace’s ECPI. Several school districts received $1,345,000 each to participate in ECPI, including districts in Jefferson County, Kentucky; Fresno, California; Multnomah County, Oregon; Columbus, Ohio; Washington, D.C.; San Antonio, Texas; and Winston-Salem/Forsyth County, North Carolina. The Fund for Educational Excellence received $1,235,000 to support Baltimore City Public Schools’ participation in ECPI.
Wallace says it does not fund unsolicited proposals. It typically identifies nonprofits or governmental bodies that could help carry out an initiative, invites them to submit proposals, and selects grantees based on its assessment. It sometimes holds open calls for organizations and researchers; its requests-for-proposals page currently says there are no RFPs available. Its 2025 calls for arts research proposals had letters-of-intent deadlines in January 2025 and proposal deadlines in June 2025, so those deadlines have passed. The website says grantees may be asked to provide data and progress reports, take part in research and evaluation, and join professional learning communities.
Review Cycle
The listed 2025 arts research proposal deadlines have passed; the foundation’s requests-for-proposals page currently lists no available RFPs.
How to Apply
The foundation does not accept unsolicited requests. It generally invites selected organizations to submit proposals, though it sometimes runs open calls.
Open Grants
2 open opportunities from The Wallace Foundation
Arts Organizations Founded By/With/For Communities of Color - Research Practice Partnerships
The Wallace Foundation
Amount
Varies
Deadline
Deadline not published
Field Studies by Arts Service Organizations Rooted in Communities of Color
The Wallace Foundation
Amount
Varies
Deadline
Deadline not published
Ready to take the next step with The Wallace Foundation?
Geographic Focus
Where this funder awards grants
Wallace describes its initiatives as national. In 2024, the largest shares of grant dollars by recipient state went to organizations in Washington, D.C. (13%), California (12%), Texas (10%), New York (7%), and North Carolina (6%).
Grant Distribution by State
Share of 2024 grant dollars across all 318 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $47.5M (2021) to $84.1M (2022). In 2024 it made 318 grants totaling $54.6M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was First Peoples Fund ($3.2M across 2 grants). Together the top 10 received $19.5M.
Organizations only. It also paid 1 grant to individuals ($5,000), which are not listed by name.
Grant Size Distribution
1,458 grants across all recorded years
The most common grant size was under $50K: 701 grants of 1,458 (48%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| National Association of Latino Arts and Culture San Antonio, TX | To participate in Wallace's Advancing Well-Being in the Arts initiative. | $3,000,000 |
| Alternate ROOTS Inc Atlanta, GA | To participate in Wallace's Advancing Well-Being in the Arts initiative. | $3,000,000 |
| First Peoples Fund Rapid City, SD | To participate in Wallace's Advancing Well-Being in the Arts initiative. | $3,000,000 |
| Board of Regents of the University of Wisconsin System Madison, WI | To study the work of districts participating in Wallace's ECPI. | $2,252,202 |
| Board of Education of Jefferson County Kentucky Louisville, KY | To participate in Wallace's ECPI. | $1,345,000 |
| Fresno Unified School District Fresno, CA | To participate in Wallace's ECPI. | $1,345,000 |
| School District No 1J Multnomah County Oregon Portland, OR | To participate in Wallace's ECPI. | $1,345,000 |
| Columbus City Schools Columbus, OH | To participate in Wallace's ECPI. | $1,345,000 |
| DC Public Education Fund Washington, DC | For D.C. Public Schools to participate in Wallace's ECPI. | $1,345,000 |
| San Antonio Independent School District San Antonio, TX | To participate in Wallace's ECPI. | $1,345,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2024 | $1,756,582,199 | $124,078,120 | $85,949,821 | $54,577,768 |
| 2023 | $1,706,055,092 | $57,299,382 | $89,575,254 | $61,371,995 |
| 2022 | $1,669,140,184 | $132,616,879 | $112,719,157 | $84,089,810 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,756,582,199 | $1,706,055,092 | $1,669,140,184 |
| Revenue | $124,078,120 | $57,299,382 | $132,616,879 |
| Expenses | $85,949,821 | $89,575,254 | $112,719,157 |
| Qualifying Distributions | $78,894,071 | $84,526,293 | $105,691,847 |
| Net Investment Income | $98,271,894 | $85,530,224 | $3,104,192 |
| Distributable Amount | $83,491,508 | $80,792,336 | $87,464,541 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists William I. Miller as President and Director; Thomas Lenehan as CIO and Assistant Treasurer; Talia Shaull as CHRO; and Jennifer Maimone-Medwick as General Counsel and Corporate Secretary, starting June 10, 2024. Ingrid Rasmussen became CFO and Treasurer on September 2, 2024, succeeding Stacy J. Martin, whose term ended August 30, 2024. Directors listed on the filing also include Anne Dinneen, Richard L. Kauffman, and Kimberly Nelson.
The Wallace Foundation is led by William I Miller, President & Director on every filing since 2020; 7 of 17 officers listed in 2024 are compensated.
Officers on the 2024 filing
William I Miller
President & Director
On filings since 2020
50 hrs/week
$810K (2020) → $1000K (2024)
Amor Towles
Director
On filings since 2020
1 hr/week
No compensation reported
Anne Dinneen
Director
On filings since 2020
1 hr/week
No compensation reported
Daniel Weiss
Director
On filings since 2020
1 hr/week
No compensation reported
Jorge Ruiz de Velasco
Director
On filings since 2020
1 hr/week
No compensation reported
Kent McGuire
Director
On filings since 2020
1 hr/week
No compensation reported
Mary Beth West
Director
On filings since 2020
1 hr/week
No compensation reported
Richard L Kauffman
Director
On filings since 2020
1 hr/week
No compensation reported
Kelly Ungeman
Director
On filings since 2022
1 hr/week
No compensation reported
Kevin Young
Director
New on the 2024 filing
1 hr/week
No compensation reported
Kimberly Nelson
Director
New on the 2024 filing
1 hr/week
No compensation reported
Stacy J Martin
CFO & Treasurer
On filings since 2020
50 hrs/week
$350K (2020) → $317K (2024)
Geraldine Sutera
Legal, Hr Associate & Assistant Corp Secretary
On filings since 2021
40 hrs/week
$72K (2021) → $97K (2024)
Thomas Lenehan
CIO & Assistant Treasurer
On filings since 2021
50 hrs/week
$863K (2021) → $1.3M (2024)
Talia Shaull
Chro
On filings since 2022
50 hrs/week
$153K (2022) → $366K (2024)
Ingrid Rasmussen
CFO & Treasurer
New on the 2024 filing
50 hrs/week
$157K (2024)
Jennifer Maimone-Medwick
General Counsel & Corporate Secretary
New on the 2024 filing
50 hrs/week
$217K (2024)
Former officers (5)
- Former: Kenneth Austin (2020–2023) — General Counsel & Corp Secretary
- Former: Candace Beinecke (2020–2022) — Director
- Former: Melkeya McDuffie (2020–2021) — Chro & Assistant Corporate Secretary
- Former: Rob D Nagel (2020–2021) — Former CIO & Retired
- Former: Sharon W Clark (2020) — CAO & Assistant Corp Secretary
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $1.3M, to Thomas Lenehan (CIO & Assistant Treasurer). 7 officers or directors reported compensation on that filing.
Contact
Mailing address: 140 Broadway 49 Floor, New York, NY 10005
Phone: (212) 251-9700
Website: https://wallacefoundation.org
Frequently asked questions about The Wallace Foundation
How much does The Wallace Foundation give each year?
The Wallace Foundation gave $54.6M across 318 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $61.4M across 213 grants.
What is The Wallace Foundation's typical grant size?
The Wallace Foundation's median grant in 2024 was $25,965, and its average grant was $171,628, across 318 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Wallace Foundation that year got $100K on average.
Where does The Wallace Foundation give grants?
The Wallace Foundation's top state is District of Columbia, with 13% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were California (12%) and Texas (10%). The most frequent recipient cities were New York, NY (56 grants), Washington, DC (42 grants), Brooklyn, NY (27 grants) and Atlanta, GA (14 grants).
Does The Wallace Foundation give general operating support?
Yes: 44% of The Wallace Foundation's 2024 grants with a stated purpose (140 of 318) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "To serve as a Wallace communications partner." (25 grants), "To support districts participating in Wallace's ECPI." (7 grants) and "To participate in Wallace's ECPI." (6 grants).
Who are The Wallace Foundation's largest grantees?
The Wallace Foundation's largest 2024 grantees include First Peoples Fund ($3,152,409 across 2 grants), National Association of Latino Arts and Culture ($3,000,000) and Alternate ROOTS Inc ($3,000,000), according to its 2024 IRS Form 990-PF. It also paid 1 grant to individuals ($5,000), which are not listed by name. Together they received 17% of its itemized 2024 grant dollars.
How large is The Wallace Foundation?
The Wallace Foundation reported $1.8B in total assets on its 2024 IRS Form 990-PF. It paid out $78.9M in qualifying distributions that year, against a required minimum of $83.5M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does The Wallace Foundation fund?
The foundation’s mission is “to help all communities build a more vibrant and just future by fostering advances in the arts, education leadership, and youth development.” Its three areas of interest are the arts, school leadership, and youth development. See mission & focus areas ↑
How do I apply for a grant from The Wallace Foundation?
The foundation does not accept unsolicited requests. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Wallace Foundation's EIN?
The Wallace Foundation's EIN (Employer Identification Number) is 13-6183757. IRS Form 990 filing data is available on this page for 2020–2024.
Does The Wallace 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 October 2026.
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