Wallace Foundation is a private foundation focused on Education, based in MORRISTOWN, TN. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $5.3M in total assets. In 2025, it awarded 51 grants totaling $165K. Net investment income was $253K.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$5.3M
+7.4% YoY
Annual Giving
$165K
-5.4% YoY
Grant Count
51
-12.1% YoY
Avg Grant Size
$3K
+7.6% YoY
Under IRS private-foundation payout rules, Wallace Foundation reported a distributable amount of $245K for 2025 — the minimum it must pay out in qualifying distributions.
About Wallace Foundation
Based on IRS filings
Wallace Foundation is a private foundation focused on Education, based in MORRISTOWN, TN. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $5.3M in total assets. In 2025, it awarded 51 grants totaling $165K. Net investment income was $253K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $5,311,462 | $4,944,277 | $4,271,907 |
| Revenue | $262,925 | $559,045 | $2,965,426 |
| Expenses | $215,146 | $216,648 | $140,298 |
| Qualifying Distributions | $214,017 | $215,714 | $137,204 |
| Net Investment Income | $253,324 | $167,411 | $40,229 |
| Distributable Amount | $244,506 | $226,578 | $167,687 |
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
162 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest include New Orleans Baptist Theological Sem ($30,000), Nolachucky Baptist Assoc Dis Relief ($16,300), United Way of Hamblen County ($16,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ALL OTHERS MORRISTOWN, TN | GENERAL FUND | $5,575 |
| ALPHA BAPTIST CHURCH MORRISTOWN, TN | DONATION | $1,500 |
| AMERICAN FAMILY ASSOCIATION TUPELO, MS | GENERAL | $2,000 |
| AUSTIN PEAY STATE UNIVERSITY CLARKSVILLE, TN | SCHOLARSHIP | $1,000 |
| BOYS & GIRLS CLUB FOUNDATION MORRISTOWN, TN | GENERAL FUND | $2,000 |
| BRIDGEPORT FREE WILL BAPTIST CHURCH NEWPORT, TN | DONATION | $1,500 |
| BRIDGES INTERNATIONAL AUSTIN, TX | DONATION | $1,500 |
| CARSON NEWMAN UNIVERSITY JEFFERSON CITY, TN | WALLACE SCHOLARSHIP | $2,500 |
| CHALLENGE GOLF ASSOCIATION GRAHAM, NC | GENERAL | $6,000 |
| DAILY BREAD COMMUNITY KITCHEN MORRISTOWN, TN | GENERAL | $2,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DOYLE M WALLACE | PRESIDENT | 2 | — |
| ROBIN W DAWSON | TREASURER | 2 | — |
| LISA W TRUSLER | SECRETARY | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Wallace Foundation?
Wallace Foundation is a private foundation focused on Education, based in MORRISTOWN, TN. It holds $5.3M in total assets as of 2025.
How large is Wallace Foundation?
As of 2025, Wallace Foundation holds $5.3M in total assets with $263K in annual revenue. It awarded 51 grants totaling $165K in 2025.
Where does Wallace Foundation operate?
Wallace Foundation has awarded grants in Arkansas, California, Colorado, District of Columbia, Florida, Georgia, Louisiana, Michigan, Missouri, Mississippi, North Carolina, Ohio, Tennessee, Texas, Virginia.
What size grants does Wallace Foundation award?
In 2025, Wallace Foundation awarded 51 grants totaling $165K — an average of about $3K per grant, based on its IRS Form 990 filings.
How much is Wallace Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, Wallace Foundation reported a distributable amount of $245K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Wallace Foundation's EIN?
Wallace Foundation's EIN (Employer Identification Number) is 62-6048465. IRS Form 990 filing data is available on this page for 2021–2025.
Explore Open Grants
Browse active grant opportunities in Wallace Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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