Wallace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WALL, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.6M in total assets. In 2024, it awarded 11 grants totaling $178K. Net investment income was $206K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.6M
+0.7% YoY
Annual Giving
$178K
-22.9% YoY
Grant Count
11
+37.5% YoY
Avg Grant Size
$16K
-44.0% YoY
Under IRS private-foundation payout rules, Wallace Foundation reported a distributable amount of $192K for 2024 — the minimum it must pay out in qualifying distributions.
About Wallace Foundation
Based on IRS filings
Wallace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WALL, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.6M in total assets. In 2024, it awarded 11 grants totaling $178K. Net investment income was $206K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,646,593 | $2,626,984 | $2,732,180 |
| Revenue | $243,986 | $169,645 | $253,479 |
| Expenses | $225,012 | $274,868 | $224,439 |
| Qualifying Distributions | $186,004 | $238,455 | $187,763 |
| Net Investment Income | $205,634 | $134,412 | $220,167 |
| Distributable Amount | $192,166 | $170,865 | $174,536 |
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 2024
Grant Size Distribution
40 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Nj Highlands Coalition ($50,000), United Methodist Church ($30,000), Great Swamp Watershed ($30,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN RED CROSS Fall River, MA | CHARITABLE PURPOSE | $1,000 |
| CHILDRENS DYSLEXIA CENTERS OF NJ SCOTCH PLAINS, NJ | CHARITABLE PURPOSE | $10,000 |
| FAIRLEIGH DICKINSON UNIVERSITY TEANECK, NJ | CHARITABLE PURPOSE | $10,000 |
| UNITED METHODIST CHURCH MORRISTOWN, NJ | CHARITABLE PURPOSE | $30,000 |
| THE GOOD SHEPERD MISSION INC PATERSON, NJ | CHARITABLE PURPOSE | $5,000 |
| THE CRAIG SCHOOL MOUNTAIN LAKES, NJ | CHARITABLE PURPOSE | $20,000 |
| GREAT SWAMP WATERSHED NEW VERNON, NJ | CHARITABLE PURPOSE | $30,000 |
| ASSOCIATION OF NEW JERSEY MENDHAM, NJ | CHARITABLE PURPOSE | $15,000 |
| ST HUBERTS WELFARE CENTER MADISON, NJ | CHARITABLE PURPOSE | $2,000 |
| THE NATURE CONSERVANCY CHESTER, NJ | CHARITABLE PURPOSE | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ROBERT LEE WALLACE | CO-TRUSTEE | 1 | $5,000 |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Wallace Foundation?
Wallace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in WALL, NJ. It holds $2.6M in total assets as of 2024.
How large is Wallace Foundation?
As of 2024, Wallace Foundation holds $2.6M in total assets with $244K in annual revenue. It awarded 11 grants totaling $178K in 2024.
Where does Wallace Foundation operate?
Wallace Foundation has awarded grants in Massachusetts, New Jersey, Virginia.
What size grants does Wallace Foundation award?
In 2024, Wallace Foundation awarded 11 grants totaling $178K — an average of about $16K 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 2024, Wallace Foundation reported a distributable amount of $192K 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 57-6210279. IRS Form 990 filing data is available on this page for 2020–2024.
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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