Wallace Foundation
Wallace Foundation is a private foundation based in Morristown, Tennessee. Its 2025 filing reports 51 grants totaling $165,375 to organizations in Tennessee and other states.
Wallace Foundation at a glance
In short: Wallace Foundation gave $165K across 51 grants in 2025 (avg $3K), mostly in Tennessee. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $165,375
- -5.4% vs 2024
- Grants made (2025)
- 51
- -12.1% vs 2024
- Average grant
- $3,243
- +7.6% vs 2024
- Median grant
- $1,500
- Total assets
- $5,311,462
- +7.4% vs 2024
- Primary geography
- Tennessee (60% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026.
How to apply to Wallace Foundation
- How to Apply
-
The foundation’s 2024 filing says it does not restrict giving to preselected organizations. It lists Doyle M. Wallace as the contact, requires no specific form or materials, and says awards are subject to final approval by officers.
- Review Cycle
- None listed.
- Deadline
- None listed.
- Contact
Application contact: Doyle M Wallace
Mailing address: P O Box 6004, Morristown, TN 37815-6004
Phone: (423) 586-5650
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Wallace Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was New Orleans Baptist Theological SEM ($30K). Together the top 10 received $101K.
Organizations only. It also paid 2 individual scholarships ($2,000), which are not listed by name.
Grant Size Distribution
171 grants across all recorded years
The most common grant size was under $50K: 171 grants of 171 (100%).
Geographic Focus
Where this funder awards grants
In 2025, 60% of grant dollars went to recipients in Tennessee, 18% to Louisiana, and 5% to North Carolina. Florida and Colorado each accounted for 2%.
Grant Distribution by State
Share of 2025 grant dollars across all 51 itemized grants.
States
Cities
How Wallace Foundation gives
- 76% of 2025 grantees were also funded in 2024. Method
- Giving grew 158% from 2022 to 2025. Method
- In 2025 it paid out 88% 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 (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 $64K (2022) to $175K (2024). In 2025 it made 51 grants totaling $165K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| New Orleans Baptist Theological SEM New Orleans, LA | Foundation Board Corpus | $30,000 |
| Nolachucky Baptist Assoc Dis Relief Morristown, TN | Donation | $16,300 |
| United Way of Hamblen County Morristown, TN | General Fund | $16,000 |
| Vol Chapt of Army Aviation Assoc Jackson, TN | Donation | $10,000 |
| Lakeway FCA Morristown, TN | General Fund | $8,000 |
| Challenge Golf Association Graham, NC | General | $6,000 |
| All Others Morristown, TN | General Fund | $5,575 |
| Fellowship of Christian Athletes Tallahassee, FL | General | $4,000 |
| Helen Ross McNabb Foundation Knoxville, TN | Donation | $3,000 |
| Carson Newman University Jefferson City, TN | Wallace Scholarship | $2,500 |
Ready to take the next step with Wallace Foundation?
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 | $5,311,462 | $262,925 | $215,146 | $165,375 | 51 | $214,017 | $253,324 | $244,506 |
| 2024 | $4,944,277 | $559,045 | $216,648 | $174,750 | 58 | $215,714 | $167,411 | $226,578 |
| 2023 | $4,271,907 | $2,965,426 | $140,298 | $120,340 | 31 | $137,204 | $40,229 | $167,687 |
| 2022 | $1,274,560 | $734,419 | $68,267 | $64,170 | 19 | $67,683 | $15,928 | $27,330 |
| 2021 | $656,270 | $405,250 | $68,578 | $67,060 | 12 | — | $15,237 | $7,298 |
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.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
The foundation’s own mission is not stated in the available filing information. Its 2025 grants went to organizations with varied purposes. For example, Daily Bread Community Kitchen describes its work as “feeding needy people”; Kingswood Home for Children says it brings healing to children and families; and Liberty University describes itself as a Christian academic community providing collegiate education. These are the grantees’ descriptions of their own missions, not statements of the foundation’s focus areas.
Grantmaking
In 2025, the foundation reported 51 grants totaling $165,375. Grants ranged from $1,000 to $30,000, with a median of $1,500. Among the largest were $30,000 to New Orleans Baptist Theological Seminary for “Foundation Board Corpus,” $16,300 to Nolachucky Baptist Association Disaster Relief, $16,000 to United Way of Hamblen County, and $10,000 to the Volunteer Chapter of the Army Aviation Association. Other grants included $8,000 to Lakeway FCA and $2,500 each to Carson-Newman University, Daily Bread Community Kitchen, and Liberty University.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Doyle M. Wallace as president, Robin W. Dawson as treasurer, and Lisa W. Trusler as secretary.
Wallace Foundation is led by Doyle M. Wallace, President on every filing since 2021; none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Doyle M. Wallace
President
On filings since 2021
2 hrs/week
No compensation reported
Lisa W. Trusler
Secretary
On filings since 2021
2 hrs/week
No compensation reported
Robin W. Dawson
Treasurer
On filings since 2021
2 hrs/week
No compensation reported
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.
Frequently asked questions about Wallace Foundation
How much does Wallace Foundation give each year?
Wallace Foundation gave $165K across 51 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $175K across 58 grants.
What is Wallace Foundation's typical grant size?
Wallace Foundation's median grant in 2025 was $1,500, and its average grant was $3,243, across 51 grants on its 2025 IRS Form 990-PF.
Where does Wallace Foundation give grants?
Wallace Foundation gives mostly in Tennessee: 60% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were Louisiana (18%) and North Carolina (5%). The most frequent recipient cities were Morristown, TN (17 grants), Knoxville, TN (3 grants), Colorado Springs, CO (3 grants) and Washington, DC (2 grants).
Does Wallace Foundation give general operating support?
Yes: 35% of Wallace Foundation's 2025 grants with a stated purpose (18 of 51) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Donation" (29 grants).
Who are Wallace Foundation's largest grantees?
Wallace Foundation's largest 2025 grantees include New Orleans Baptist Theological SEM ($30,000), Nolachucky Baptist Assoc Dis Relief ($16,300) and United Way of Hamblen County ($16,000), according to its 2025 IRS Form 990-PF. It also paid 2 individual scholarships ($2,000), which are not listed by name. Together they received 38% of its itemized 2025 grant dollars.
How large is Wallace Foundation?
Wallace Foundation reported $5.3M in total assets on its 2025 IRS Form 990-PF. It paid out $214K in qualifying distributions that year, against a required minimum of $245K (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 Wallace Foundation fund?
The foundation’s own mission is not stated in the available filing information. Its 2025 grants went to organizations with varied purposes. See mission & focus areas ↑
How do I apply for a grant from Wallace Foundation?
The foundation’s 2024 filing says it does not restrict giving to preselected organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
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.
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 Wallace Foundation funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Wallace Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Wallace Foundation funder profile. GrantGraph. Retrieved October 17, 2026, from https://grantable.co/funders/wallace-foundation-morg_456014bbb51249e09b6159ba599b9b43
BibTeX
@misc{grantable_626048465_2026,
author = {{Grantable}},
title = {{Wallace Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/wallace-foundation-morg_456014bbb51249e09b6159ba599b9b43},
note = {Accessed 2026-10-17. 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 Wallace 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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