Wallace Foundation
Wallace Foundation is a private foundation, based in Wall, NJ. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $2.5M in total assets. In 2025, it awarded 8 grants totaling $341K. Net investment income was $187K.
Wallace Foundation at a glance
In short: Wallace Foundation gave $341K across 8 grants in 2025 (avg $43K), mostly in New Jersey. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $341,000
- +91.6% vs 2024
- Grants made (2025)
- 8
- -27.3% vs 2024
- Average grant
- $42,625
- +163.4% vs 2024
- Median grant
- $35,000
- Total assets
- $2,476,528
- -6.4% vs 2024
- Primary geography
- New Jersey (66% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who Wallace Foundation funds
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2025
The largest 2025 recipient was NJ Highlands Coalition ($100K). Together the top 8 received $341K.
Grant Size Distribution
42 grants across all recorded years
The most common grant size was under $50K: 33 grants of 42 (79%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 8 itemized grants.
Cities
How Wallace Foundation gives
- Giving grew 93% from 2022 to 2025. Method
- In 2025 it paid out 181% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $135K (2019) to $341K (2025). In 2025 it made 8 grants totaling $341K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NJ Highlands Coalition Boonton, NJ | Charitable Purpose | $100,000 |
| United Methodist Church Morristown, NJ | Charitable Purpose | $75,000 |
| Feeding America Washington, DC | Charitable Purpose | $63,000 |
| Convenant House Topeka, KS | Charitable Purpose | $35,000 |
| Great Swamp Watershed New Vernon, NJ | Charitable Purpose | $35,000 |
| Association of New Jersey Mendham, NJ | Charitable Purpose | $15,000 |
| Oxfam America Boston, MA | Charitable Purpose | $13,000 |
| Los Angeles Regional Food Bank Los Angeles, CA | Charitable Purpose | $5,000 |
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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 | $2,476,528 | $224,110 | $394,667 | $341,000 | 8 | $353,853 | $187,146 | $196,024 |
| 2024 | $2,646,593 | $243,986 | $225,012 | $178,000 | 11 | $186,004 | $205,634 | $192,166 |
| 2023 | $2,626,984 | $169,645 | $274,868 | $231,000 | 8 | $238,455 | $134,412 | $170,865 |
| 2022 | $2,732,180 | $253,479 | $224,439 | $177,000 | 7 | $187,763 | $220,167 | $174,536 |
| 2021 | $2,703,406 | $388,240 | $309,319 | $260,000 | 8 | $271,123 | $354,209 | $186,269 |
| 2020 | $2,624,254 | $497,012 | $191,285 | $140,000 | 6 | — | $466,566 | $155,089 |
| 2019 | $2,318,619 | $237,378 | $179,189 | $135,000 | 6 | — | $207,418 | $155,780 |
Under IRS private-foundation payout rules, Wallace Foundation reported a distributable amount of $196K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Wallace Foundation is led by Robert Lee Wallace, Co-Trustee since 2023 (on filings since 2019) — the only officer listed, and compensated.
Officers on the 2025 filing
Robert Lee Wallace
Co-Trustee
Trustee → Co-Trustee, 2023
On filings since 2019
1 hr/week
$5K (2019) → $5K (2025)
Former officers (1)
- Former: Garden State Trust Company (2019–2022) — Trustee
Data from IRS Form 990 filings, 2019–2025. "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 $5K, to Robert Lee Wallace (Co-Trustee).
Frequently asked questions about Wallace Foundation
How much does Wallace Foundation give each year?
Wallace Foundation gave $341K across 8 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $178K across 11 grants.
What is Wallace Foundation's typical grant size?
Wallace Foundation's median grant in 2025 was $35,000, and its average grant was $42,625, across 8 grants on its 2025 IRS Form 990-PF.
Where does Wallace Foundation give grants?
Wallace Foundation gives mostly in New Jersey: 66% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were District of Columbia (18%) and Kansas (10%).
Who are Wallace Foundation's largest grantees?
Wallace Foundation's largest 2025 grantees include NJ Highlands Coalition ($100,000), United Methodist Church ($75,000) and Feeding America ($63,000), according to its 2025 IRS Form 990-PF. Together they received 70% of its itemized 2025 grant dollars.
How large is Wallace Foundation?
Wallace Foundation reported $2.5M in total assets on its 2025 IRS Form 990-PF. It paid out $354K in qualifying distributions that year, against a required minimum of $196K (roughly 5% of its investment assets).
What is Wallace Foundation's EIN?
Wallace Foundation's EIN (Employer Identification Number) is 57-6210279. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 11, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 28, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
Live grants for the work Wallace Foundation funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
- Nixa Affiliate Grantmaking Program Up to US $10,000 · Due October 19, 2026
- Community and School Grants $28,000 total pool; 10-15 grants expected · Due October 19, 2026
- Mary Pinola/Crescenta Valley Chamber Education Fund $500 - $5,000 for ongoing programs; up to $15,000 for Strategic Initiative Grants · Due October 19, 2026
Explore Open Grants
Browse active grant opportunities in Wallace Foundation's focus areas in our free grants database
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Wallace Foundation down — hundreds of funders to go?